We have a partnership firm and the partners have decided to convert it to a Private Limited for expansion of business. Since there are only three partners it could not be converted, as 7 partners are required for conversion.

Now here are my doubts.
1. Can a private limited be formed by the existing three partners to take over the existing firm? Any case laws to support such decisions?
2. Will Capital gain arise out of such transfer?

It will be great if someone can throw a light on these matters.

sir as a local body we invite tenders for various development works in the city. and work is allotted to contractors they perform their function and engage temporary labour for construction, i want to know that as a principal employer (not having any direct relation with labour) are we liable to deduct EPF or to contribute for the same.. our contractor have EPF no on their name..plz suggest

profit for year :
2011- 10lacs
2012- -12 lacs
2013- 15 lacs

for calculating avg net profit of 3 preceding years will we consider -12 lacs. please tell the calculation.

Dear expert, I am working with a indian private limited company since november 2008. which is a subsidiary of foreign company we are only three employees out of which 1 is recently appointed . Since i am working more than 8 year expecting & hoping for the gratuity. As per the law same is applicable to me or not ? Please advise. Awaiting feedback.

my query is if a person once disqualified under contract law for any contract, thereafter can he is eligible to make another types of contract

Why Partnership between CA in practice and CA in service is not allowed?

I want to gift 800000/- to my father. Whether I need to execute a Gift Deed. If Yes, Can I use 100/- Stamp paper

Dear Experts,

Please suggest I am eligible for Gratuity as i have completed my services as 4years 3month 11 days.

please share act if any one have.

Regards
Maan Singh

i did agreement in September for sale of rs 10L. At that time I received advance of 1L, rest payment was due on 30 Nov.
It was mentioned in agreement that default in payment on 30 Nov Will entitle the seller to forfiet earnest money of 1 L.
In Oct and Nov, received 1L each month but purchaser defaulted on 30 Nov.
In Dec, I sent the legal notice through advocate stating that I have received 3 L earnest money and pay the balance money within 15 days otherwise 3L will be forfieted and agreement will be cancelled.
No reply received from the purchaser till now.
Can I legally forfiet the 3L money and sell the property to another.

i m little confused about amendments of law in may 2017.. Its my humble request, kindly help me