Firm opening

This query is : Open

Wasim (Querist)
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17 September 2012 Dear friends,

We want to open a new company and wish to keep it as partnership or individual firm.

We want to do fruits & vegetables trading in it.

What are the formalities, do we have to register somewhere etc. There is no tax on fruits & Veggie i believ.

Please guide, thanks

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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17 September 2012 Taxes are There.
If You Want to Resuter as Individual Firm , Then Nothing to do as regarding to Complianes, Just Need to Take Trade Licence from Market Committee.

& if Go for Partnership Then Make Partner Deed & to Register it on Deed.& trade Licance.

Nothing Els.e

Wasim

Wasim (Querist)
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17 September 2012 OKAY thanks, but what are the tax implications in both cases, what else we need to register for.

How do we take trade license.

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CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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17 September 2012 For Above Both Case:-

For Individual Firm:- Obtain PAN From IT Department in name of UR.

For Firm Partner:- After Making Deed, Obtain PAN.Fill Form 49A

Other Than This Nothing is Required.

Wasim

Wasim (Querist)
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17 September 2012 thanks Ayush, you have been very kind. Can we directly fie PAN application in case 1 or two

What is the general procedure.

As an individual i have my PAN number and also have DIN number as i am with other firms too.