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naveen (Querist)
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27 August 2011 i am working in a company i.e. Info Care India Pvt. Ltd.. but it's incorporated date is 15/06/2010. it was a partnership firm before registering as pvt. ltd. company. my question is that can i transferred all the assets and liabilities to pvt. ltd. company as taken.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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27 August 2011 Yes,,,,But Fullfill some conditions of income tax act.so that u get exempted transfer

naveen

naveen (Querist)
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03 September 2011 what would be the treatment of partner's capital a/c if books of partnership firm are carried same in pvt. ltd. company.

mohamed ziaudeen

mohamed ziaudeen (Expert)
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04 September 2011 Partners' capital account will become share capital account in Pvt Ltd
First you have to close the partnership firm's book.

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