Dear Experts,
Kindly understand the situation..
My father is a manufacturer of electric motor, he is doing business since 15 years, Now my brother is handing over of my father business.
But there is problem that my brother is married and living seperate from us i.e. from my father, mother and me i.e. unmarried sister.
He is saying that he wants seperation from us, and doing same business with father co. issuing same invoice and also receiving invoice in the name of my papa co. only.
he is also saying that all the sale made in the co. since he was working will was his profit and all money will collect he only.
he is also saying that he is not going to give any amt for VAT also, this is going since 1 yr. and my father burden goes up and up.
wheneve my father is saying that we have to make payment of VAT, he is saying this is not my liability, u think, u have spent money.
nd my father spent money no where, my mother is not fit all the time, she had operatin 3-4 times and very weak in fitness.
today i said my papa, to cancel the VAT registration and do business as unregistered as he is selling very less quantity.
here my father asked two Q:-
Is there any possibility that my father proprietriship transferred to my brother? (as my brother has no legal residence place, and there may be cause to again negative impact if my father gives any residence place as guardiner)
&
what is the consequences if we cancelled our TIN now? what is the procedure and should we have to pay VAT before cancelation?
And how to get free from my brother mentally torture peacefully?
I have only this spot (ca club) that i can get correct direction to take step forward.
Its real fact,
Please advice..