will be there a two firm in one plot of same name

Querist : Anonymous (Querist) 25 June 2011 This query is : Resolved
Sir, you are requested to tell me whether if due to dispute between two brothers and there is a one plot in which both the brothers were working and both the brothers are agreed to divide the plot in equal ratios and there is a dispute between them about the firm name .Can it be a possible if both the brothers can do work in same plot with same firm name and but with different sales tax registration. and also if it is possible to get two same firm name and different sales tax registration in the one plot.

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prabhakar singh (Expert) 25 June 2011
possible if firm name not a registered trade mark.

Tarun Thakur (Expert) 25 June 2011
if there is a dispute between two brothers or say partners and both of them do not want to continue any more then there will be dissolution of firm . All the accounts have to be settled then.
After dissolution there can be same name under sole proprietor provided they are unregistered. They have to apply again for the sale tax number.

Guest (Expert) 26 June 2011
Both will be inviting trouble for the future to come, if they work under the same name and banner independently, as any unsatisfied consumer can sue any brother for the wrong done by the other, or even the brothers may get involved in mutual disputes on several issues of the same firm name. About sales tax registration, the Sales Tax Authorities would definitely refuse to issue additional certificate in the name of the same firm at the same plot address. Income Tax authorities may also compel you to club income of both the firms together for taxation purposes, as that may consider the case of tax evasion to avoid higher tax rates.

Better solve the dispute once for all instead of inviting innumerable problems for the future.

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