You can open proprietorship in same name as partnership firm
they can have same name only but they should not be operating in the same industry and there logo design and trademark appearances should not be same.
I have a Partnership Firm with my Dad in a Particular Name, Can i open a new firm in the exact same name as a Proprietor of the Firm. I guess both the GST numbers will be different as we have Pan Card for the Partnership Firm, where as i will need individual pan for the Proprietorship Firm. Will there be any problem with the above scenario if a Partner of the firm is the Proprietor of the same Firm Name & will there be any tax compliance ?
You can open proprietorship in same name as partnership firm
they can have same name only but they should not be operating in the same industry and there logo design and trademark appearances should not be same.
See there can be two firms with same name as such there won't be any issue both are separate entity and for using same business name for your proprietorship firm you can take NOC from.the fsther that is other partner. No issues related to.taxation will arise.
1. Partnership Firm and Proprietor Firm, shall be considered two different entitles for all legal purposes, which include any type of Taxation's etc....
2. Two similar names for the above two entities are illegal and would constitute "misrepresentation, breach of trust, cheating .... fraud etc...." during times of dispute and while dealing with Public and Income Tax authorities.
1. If there is a barring clause or otherwise same partner can not open a new firm with a same name. it is prohibited by the partnership Act .
2. You can do so only if in the partnership deed there is such enabling clause which empowers a partner to do such thing which is in conflict with the previous partnership business.
It can be open with same name but difference style. Previous is firm and next can be proprietary. NO complications. Separate PAN/GST etc.
Name for a Proprietorship or Partnership company is decided by the promoter themselves and there are no restrictions for the same. No checks are done if a company by the same name is existing already.
Hello,
I would not advise you to do the same.
You will be partner in the partnership firm and will be taking profit from their also and thereafter you will open a proprietorship in the same domain and with the same name and you will gain profit from here also.
Legally there is no impediment but I would not advise you to do the same.
Regards
There cannot be two companies on the same name until and unless it is a sister concern company.
Each company should have unique name to get registered as PVT LTD firm in Companies Act.
But Name for a Private Ltd and Public Ltd., should first be approved by the Registrar of Companies. Only after they verify that no other Private / Public ltd. company is existing by the same name, do they provide approval for a name.
A certified Company Secretary shall be able to help with more aspects of registering a company and ROC (Registrar of Companies) guidelines.
Dear Sir,
Business Structure will determine if you need one, two or three or more Goods and Services Tax Identification Numbers (GSTIN). If you are operating three firms as a proprietor, you will need to register three GSTINs; one per firm.
Further, as a Sole Proprietor income from all three firms will be combined for Income Tax Assessment purposes. The provisions under the GST Act clearly state that you need to have separate GSTIN per firm that uses a particular ‘Trade Name’. Only if you have multiple offices/factories under a specific trade name no additional GSTIN is required.