Acquire/ take over proprietary firm.
Querist : Anonymous
Please tell me how can a private Ltd can acquire/ take over proprietary firm.
Fulfill its requirements and then no capital gain will arise on the transfer. And the stock in trade should be transfered at cost or market value whichever is lower. Then no business income will arise on its transfer as per the supreme court decision in sakthi trading company.
Querist : Anonymous
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