Accountancy Forum

Dear all,
Assalam o Alaikum,
I am going to start a business in partnership for importing parts of computer and photocopier machines from outside a country.

Can anyone tell me what legal requirements exist when one start a business in sole proprietorship or Partnership.. I mean.. I've heard about acquiring NTN, GST Certificate.. what other things would be needed.. and secondly will it make any difference if I donot register my AOP with Registrar of Firms.

Regards,
Adeel Ali

Dear,

Do you require some partners as well ) ?



Regards,



KAMRAN

Dear,

In fact I was just kidding.

Get an NTN and GST certificate as importer. It would be better if you get your AOP registered under Income Tax Law as well as Partnership laws under some explicit partnership deed. It will give you legal cover.

Otherwise, you may or may not bet registered. You can carry on your business without it.


Regards,



Kamran.