New company under existing company but with different name
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2014
Hello
We have a bakery company registered in Aligarh and have all sales tax registrations and tin number. It is registered under my name. Now I want to begin with a trading company as well but with a different name. Can I begin it under the existing bakery company that is already registered?
If not is there any other way because registering another company would take a long time!
Thanks
We have a bakery company registered in Aligarh and have all sales tax registrations and tin number. It is registered under my name. Now I want to begin with a trading company as well but with a different name. Can I begin it under the existing bakery company that is already registered?
If not is there any other way because registering another company would take a long time!
Thanks
20 November 2014
Question is not that clear,needs more clarity.But I will try to show some light.The registered business in Aligarh- is it a Private Company. If yes and you want to do business in another name, incorporate another company under Companies Act 2013 and get all required registrations like salestax etc.,Getting another company registered may take a few days only.
Decide about the constitution-like: Proprietary,Partnership or company.
Decide about the constitution-like: Proprietary,Partnership or company.
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2014
Sir
Can't I just use the same TIN number and start a trading company?
Let's say it is ABC bakers registered in Aligarh. Can;t I start like XYZ trading company under ABC bakers itself?
Another question- How can I transfer a company which is registered in Punjab to UP? It is a self proprietary firm?
Thanks
Can't I just use the same TIN number and start a trading company?
Let's say it is ABC bakers registered in Aligarh. Can;t I start like XYZ trading company under ABC bakers itself?
Another question- How can I transfer a company which is registered in Punjab to UP? It is a self proprietary firm?
Thanks
21 November 2014
In my opinion, you can not have two different names for one TIN. But you can have many proprietary concerns with different TIN s , means- separate TIN for each proprietary concern.( I am not using the word 'firm' or 'company' to avoid misunderstanding-hence using 'concern".
ABC bakers- registered in Aligarh with 123 as TIN. If you want to start another trading concern with name 'XYZ", you can do so by taking another TIN- to have a different name.
Think about the dealers who deal with you for payment of supplies and bank accounts also.
ABC bakers- registered in Aligarh with 123 as TIN. If you want to start another trading concern with name 'XYZ", you can do so by taking another TIN- to have a different name.
Think about the dealers who deal with you for payment of supplies and bank accounts also.
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2014
Is this possible that I open a XYZ trading company - a unit of ABC bakers?
03 August 2024
Here’s how you can address the issues regarding starting a new trading business and transferring a company’s location:
### 1. **Starting a New Trading Business:**
**1.1. **Operating Under the Existing Company:**
- **Different Business Activities:** In India, a company registered under a specific name (e.g., ABC Bakers) is typically required to operate in the business activities mentioned in its registration documents. If you want to start a trading business under a different name, you generally need a separate entity for legal and regulatory reasons.
- **Trade Names and Registrations:** You can operate multiple businesses under one registered company name if the activities fall within the same business category mentioned in the company's Memorandum of Association (MoA). However, if the new business activity (trading) is significantly different from the original activity (baking), it is advisable to form a new company or at least amend the existing company’s MoA.
**1.2. **Using a New Name for the Trading Business:**
- **Separate Entity Required:** If you want to operate a trading business under a different name (XYZ Trading Company) and it involves different activities from your existing business, you should consider registering a new company or a new business entity.
- **TIN Number:** You cannot use the same TIN number of ABC Bakers for a new trading business. Each business entity or unit should have its own TIN number. You will need to apply for a new TIN for the new business if it operates as a separate legal entity.
- **Alternative:** If forming a new company takes too long, you might consider operating the new business as a division or unit of the existing company, but this will require changes to your company's MoA and may still involve regulatory hurdles. Consult with a company secretary or legal advisor to understand the implications and necessary procedures.
### 2. **Transferring a Company’s Location:**
**2.1. **Transferring a Company Registered in Punjab to UP:**
- **For Proprietorship Firm:** If it's a sole proprietorship, you can simply start operating the business from the new location. However, you will need to update your address in various registrations (e.g., GST, TIN) and notify your local tax authorities.
- **For a Private Limited Company:**
- **Change of Registered Office:** For a company, the registered office address can be changed by filing the necessary forms with the Ministry of Corporate Affairs (MCA). You will need to file **Form INC-22** for the change of the registered office. This involves updating the address in your company's records and informing the Registrar of Companies (ROC).
- **Regional Office:** The company will have to inform its Regional Director (RD) and obtain approval if the new registered office is in a different state.
- **Address Updates:** Update other registrations and licenses (e.g., GST registration, bank accounts) with the new address.
### 3. **Opening a New Trading Company as a Unit of an Existing Company:**
**3.1. **Operational Structure:**
- **As a Division:** If you want to run XYZ Trading Company as a unit or division of ABC Bakers, you will need to reflect this in your company's documentation. You may operate it under the existing company if:
- **MoA and AOA:** The Memorandum of Association (MoA) and Articles of Association (AoA) of ABC Bakers allow for the new business activity.
- **Amendments:** Amend the MoA and AoA if necessary to include the new business activity.
- **Accounting and Taxation:** Ensure separate accounting and reporting for the new unit to maintain clarity and compliance with tax regulations.
- **Legal and Compliance:** Consult a company secretary or legal advisor to ensure that all legal and compliance requirements are met. They will help in drafting the necessary amendments to your company documents and ensure that your new business operations comply with existing regulations.
### **Summary:**
- **New Trading Business:** For a significantly different business activity, consider registering a new company or unit, as using the existing company’s TIN and operations might not be legally feasible.
- **Transferring a Company’s Location:** For a proprietorship, update your address with local authorities. For a private company, file the required forms with MCA and notify other relevant authorities.
- **Opening as a Unit:** Ensure that the new business activity is allowed under your company’s MoA and AoA, and consult with a legal advisor for the necessary amendments and compliance.
Consulting with a company secretary or legal advisor is highly recommended to navigate these procedures smoothly.
### 1. **Starting a New Trading Business:**
**1.1. **Operating Under the Existing Company:**
- **Different Business Activities:** In India, a company registered under a specific name (e.g., ABC Bakers) is typically required to operate in the business activities mentioned in its registration documents. If you want to start a trading business under a different name, you generally need a separate entity for legal and regulatory reasons.
- **Trade Names and Registrations:** You can operate multiple businesses under one registered company name if the activities fall within the same business category mentioned in the company's Memorandum of Association (MoA). However, if the new business activity (trading) is significantly different from the original activity (baking), it is advisable to form a new company or at least amend the existing company’s MoA.
**1.2. **Using a New Name for the Trading Business:**
- **Separate Entity Required:** If you want to operate a trading business under a different name (XYZ Trading Company) and it involves different activities from your existing business, you should consider registering a new company or a new business entity.
- **TIN Number:** You cannot use the same TIN number of ABC Bakers for a new trading business. Each business entity or unit should have its own TIN number. You will need to apply for a new TIN for the new business if it operates as a separate legal entity.
- **Alternative:** If forming a new company takes too long, you might consider operating the new business as a division or unit of the existing company, but this will require changes to your company's MoA and may still involve regulatory hurdles. Consult with a company secretary or legal advisor to understand the implications and necessary procedures.
### 2. **Transferring a Company’s Location:**
**2.1. **Transferring a Company Registered in Punjab to UP:**
- **For Proprietorship Firm:** If it's a sole proprietorship, you can simply start operating the business from the new location. However, you will need to update your address in various registrations (e.g., GST, TIN) and notify your local tax authorities.
- **For a Private Limited Company:**
- **Change of Registered Office:** For a company, the registered office address can be changed by filing the necessary forms with the Ministry of Corporate Affairs (MCA). You will need to file **Form INC-22** for the change of the registered office. This involves updating the address in your company's records and informing the Registrar of Companies (ROC).
- **Regional Office:** The company will have to inform its Regional Director (RD) and obtain approval if the new registered office is in a different state.
- **Address Updates:** Update other registrations and licenses (e.g., GST registration, bank accounts) with the new address.
### 3. **Opening a New Trading Company as a Unit of an Existing Company:**
**3.1. **Operational Structure:**
- **As a Division:** If you want to run XYZ Trading Company as a unit or division of ABC Bakers, you will need to reflect this in your company's documentation. You may operate it under the existing company if:
- **MoA and AOA:** The Memorandum of Association (MoA) and Articles of Association (AoA) of ABC Bakers allow for the new business activity.
- **Amendments:** Amend the MoA and AoA if necessary to include the new business activity.
- **Accounting and Taxation:** Ensure separate accounting and reporting for the new unit to maintain clarity and compliance with tax regulations.
- **Legal and Compliance:** Consult a company secretary or legal advisor to ensure that all legal and compliance requirements are met. They will help in drafting the necessary amendments to your company documents and ensure that your new business operations comply with existing regulations.
### **Summary:**
- **New Trading Business:** For a significantly different business activity, consider registering a new company or unit, as using the existing company’s TIN and operations might not be legally feasible.
- **Transferring a Company’s Location:** For a proprietorship, update your address with local authorities. For a private company, file the required forms with MCA and notify other relevant authorities.
- **Opening as a Unit:** Ensure that the new business activity is allowed under your company’s MoA and AoA, and consult with a legal advisor for the necessary amendments and compliance.
Consulting with a company secretary or legal advisor is highly recommended to navigate these procedures smoothly.
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