harinadha (student) 10 June 2011
dear experts ,
i have one partnership firm it have been opened in 2009 .till now we did'nt do any operation on that ,now we are going to start operation on that .so that i have few doubts on that kindly clarify that quries .
1. i need to pay any tax on that up to now ?
2.is it possibile to change the name of firm ?
3.is it possibile to change into pvt ltd company ?
4.is it possibel to change partners with out resign letteers ?
5.how much charge for all above things
sanjay kumar (BE/ LLM in Corporate Laws) 10 June 2011
If there has not been any operation of the firm for the past two years, its better to close the firm and start a fresh.
To change it to Pvt Ltd company, you have to go through the procedures as per the Companies Act,1956.
Amit Soni (Proprietor) 11 June 2011
Dear Harinadha,
1) As your firm was not in any operation & not generated any revenu thn on which amount you will pay the tax?
2) Yes you can change the name.
3) You can also convert (not change) it into Pvt. Ltd. or Ltd. For convertion you have to comply with the provisions of Part IX of Companies Act, 1956. Main thing for that, you have to first make chnages in partnership deed and shape your firm as joint stock co. by inserting the provision relating this.
4) you can not change partners w/o resign.
5) Charges depends on the situation.
My suggetion is that if you never ever did any operation in the partnership than please go direct to incorporate a Pvt. Ltd.
Hope this will help you. And if anyone has any sugetions please make them.
Regards,
Amit
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