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Change of status from Individual to Proprietorship FirmNo. of comments:6 Rajendra Vidaya, Pune, ARN-124623 On 14-Jul-2017

Hello ! I'm Rajendra from Pune. Whether anyone advise,help me how to change the status of "Individual" to "Proprietorship Firm". (2)Whom to contact ? I think ARN would be the same but what happens to trails commissions ? whether I have to approach all AMC for that. If anyone has undergone this process,grateful for input. Waiting for all of your's valuable comment

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Comments Posted

Varsha Harshad Doshi ARN NO :83610 Mumbai , 22 Jul 2017

ARN under Individual category cannot be converted into a proprietorship firm. Hence, you need to submit the following documents for cancelling the individual ARN and apply for new ARN registration under proprietorship firm. A cancellation letter along with surrendering the original valid ARN card to be submitted. * Corporate ARN (Proprietorship Category): a) Fresh corporate application form (Application form should be attested by corporate) enclosed. b) Rs.3,000/- DD in favour of ""Association of mutual funds in India"" c) Self Declaration ( Format available in AMFI website www.amfiindia.com) e) KYD and Bio-Metric process should be completed" * Fresh Employee Registration : a) Fresh corporate employee application form (Application form should be attested by corporate) enclosed b) Rs.1500/- DD in favour of ""Association of mutual funds in India"" or fees as per the graded structure c) Fresh AMFI/NISM certificate self attested copy of employee d) Two stamp size photographs of employee e) PAN proof and residential address proof of employee After generation of new ARN the AUM can be transferred to the new ARN by contacting helpdist@camsonline.com

S U PAPDIWAL ARN NO :31988 AURANGABAD , 22 Jul 2017

I am also individual IFA & planning to appoint sub broker under my ARN will somebody guide me .

pradip kumar roy ARN NO :113909 kolkata, 22 Jul 2017

Hello, I am pradip from kolkata, what is the advantage to change the status of individual to proprietorship firm ? a) in case of GST rules ? b) in case of i.t advantage ? c)in case of others economical advantage ?

Jagadeesh Pai ARN NO :75176 Cochin, 22 Jul 2017

I guess Individual & Proprietary are one and the same and there is no need to do anything .. If it was partnership then procedure is different

AGARWAL INVESTMENTS ARN NO :17107 LUCKNOW, 22 Jul 2017

Rajendra ji, Firstly you have to take NEW ARN of your Proprietorship firm and surrender ur Individual ARN and map it with your new firm ARN as Employee. For trail , you have to merge your codes individually with each AMC.

anitajandial ARN NO :21483 vadodara, 22 Jul 2017

I have a proprietor firm in the name of fiscals. I am registered as individual ifa with amcs.I have a current account of fiscals wherein commission is deposited and I file returns of fiscals prop anita jandial. So there is no need to approach amcs.except for changing the bank account