Association of Persons

karun (Querist) 03 March 2010 This query is : Resolved
An AOP was formed on 01.04.2005 by virtue of a un terminatable lease deed for 25 years . It contained two
individuals father and son, Father died.

The lease deed contain a clause that it cannot be terminated by any means.

It means that now surviving son will be the leassor.

But son wants to continue the AOP taking his son in place of his father

My question are :

What will be the Fate of that AOP do we have to surrender the PAN No. alloted previously and apply the new Pan No.

or there will be only rectification of PAN

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Raj Kumar Makkad (Expert) 03 March 2010
You shall have to surrender previous PAN No. and shall have to re-apply after inclusion of son of the remaining lesser in AOP.

M.V.GIRI (Expert) 03 March 2010
yes i agree with Mr. Rajkumar Makkad The old PAN is to be surrendered to the concerned ITO and a fresh PAN is to be taken