03 March 2010
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.
03 March 2010
Few legal issue is involved. AOP is an association two or more persons. Whether one person can continue the AOP ?
So far rectification of PAN data is concerned, there is no need, if the name is not changed.
The Assessing Officer should be provided/furnished a self attested copy of the agreement between the members evidencing the change in the composition etc.
CAclubindia
