Double PAN/TAN issue
Hi All, I am operating a family home based business with my wife. Last week we got it notarized with basic partnership deed. During the process were issued PAN/TAN also . No registration with registrar of firms was done.
However, today after some debate and discussion with our outsourced CA, we were made aware of the benefits of LLP firm over traditional partnership. Therefore, we applied for formal registration our business as LLP firm. After applying I was informed that we will be issued a new PAN/TAN.
Now I am kind'a confused what to do with earlier PAN/TAN of basic partnership that will be delivered to us soon.
I aware of consequences of keeping more than one PAN/TAN. So how should I get the previous PAN/TAN canceled/surrendered? It has never been used and no bank account was opened using it. The name on both PAN/TAN is same so I am not sure if it will be considered duplicate.
Kindly advice. Thank you. more
However, today after some debate and discussion with our outsourced CA, we were made aware of the benefits of LLP firm over traditional partnership. Therefore, we applied for formal registration our business as LLP firm. After applying I was informed that we will be issued a new PAN/TAN.
Now I am kind'a confused what to do with earlier PAN/TAN of basic partnership that will be delivered to us soon.
I aware of consequences of keeping more than one PAN/TAN. So how should I get the previous PAN/TAN canceled/surrendered? It has never been used and no bank account was opened using it. The name on both PAN/TAN is same so I am not sure if it will be considered duplicate.
Kindly advice. Thank you. more
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Partnership firm and LLP are two separate entities so if you get both the PAN cards then these are two separate PAN not duplicate. If your CA has converted your existing partnership business into LLP then you have to get your partnership PAN amended as LLP otherwise you have to applied for fresh PAN of LLP. So first ensure from your CA then take action either to surrender the partnership PAN or to get it ammended as LLP. more
Jun 05
there is a concept of conversion of firm into LLP. first confirm, whether your CA did took that route or not. If yes, then you should have applied for amendment in PAN. right now, surrender is only option more
Jun 04
The New PAN will mention LLP after the name. So it is not same as earlier one for basic partnership. You should dissolve the basic partnership and surrender the {AN for the same. more
Jun 04
