ABOUT STARTING OF TWO FIRM AT ONE ADDRESS (Accounts)

RAKESH MEHRA (Querist) 01 December 2009 This query is : Resolved
SIR,

CAN U PLZ REPLY ABOUT STARTING OF TWO FIRM AT ONE ADDRESS.

IF WE HAVE RENT DEED OR LEASE DEED.

IF WE HAVE RENT DEED THEN IN WHICH CONDITION WE CAN START TWO FIRM'S BUSINEES AT ONE ADDRESS.
ACN WE HAVE TO PASS THE RENT PAID ENTRY IN P&L A/C.

IF WE HAVE LEASE DEED THEN........SAME ABOVE

PLZ REPLY..........................\

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Manish Singh (Expert) 01 December 2009
Dear Mr. Mehra,
even if you are having rent agreement or a lease deed, you can start a new firm at the same address if the said two agreements contain a clause which allows you to assign the said rights either wholly or partly to any third party or to your sister concern or associates.
if there is no such clause, but the clause says taht you need to take permission from the owner, you must secure written permission for the same.
it would be better to assign a part of the property to the new firm.

Raj Kumar Makkad (Expert) 01 December 2009
The opinion of Manish is accurate in the light of the facts of the quarry.

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ABOUT STARTING OF TWO FIRM AT ONE ADDRESS (Accounts)

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