DILIP KUMAR (SERVICE IN BANK) 19 December 2015

Change of propritor of firm

A person wants to replace his name from his properitory firm and want to make someone else the properitor of the firm. Is it possible to change properotor of a firm and if yes what is the process ??

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siddhartha sinha 19 December 2015

The proprietorship firm is the proprietor himself. If he changes then firm also changes.Apply for pan card of the proprietor, vat if applicable , service tax registration as the case may be and required local body license from municipality or panchayat as case may be. Open a current account at bank with new docs. You may use the same name as previously. Close the previous account.