VAT Tamilnadu

This query is : Open

obeid (Querist)
Follow

19 November 2009 One properitor company registered under VAT is doing imports and wants to establish another company to do sales. The created co is not the branch and both its owners will be the same person. it is created only to segregates the transaction.My question is can the created company do sales with the same TIN no.of parent company?

Kishanlal Paliwal

Kishanlal Paliwal (Expert)
Follow

20 November 2009 No, the company created for Sales business has to obtain seperate TIN No.

However, for the purpose of Income Tax the Income from both business will be clubbed.

Regards