I am having two firms. One in my name as Proprietorship and second firm (HUF) where i am the KARTA. SInce these days most of the dont give funding to the HUF firms. So i want to change the composition of my firm from HUF to Proprietorship so as to ease up the banking functions. Kindly let me know the proper procedure to follow.
Menu
Change composition of my firm from huf to propritorship
Replies (2)
Start doing all the transactions in existing proprietorship and you can infuse the bank balance of huf account in your proprietorship account as a loan.
So no further transactions in huf account and business of huf will be closed.
Recent Topics :
- GST Return
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
Related Topics :
CAclubindia
