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takeover of proprietorship firm by company

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(Querist)
29 August 2008 wot would be tax consequences and procedural formalities for takeover of proprietorship firm by company as going concern basis

any checklist pls forward and thanks a lot for the same also.
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Guest (Expert)
09 October 2009 Capital gan tax would be applicable. Moreover stamp duty should be paid for Immovable property.

Pass the resolution & allot the shares or give cash to propreitorship owner.

No other formality

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