Conversion of partnership firm into a private limited compan
This query is : Resolved
Akash Kumar
(Querist)
07 July 2012
Is there any way to convert a partnership firm into a private limited company and that to without attracting capital gain tax and where the number of partners in the firm is two
Ca Anand Dubey
(Expert)
07 July 2012
no, you must have atleast 7 partners
19 July 2012
Under Chapter 9 you can convert the Partnership into a Pvt. Ltd. Company but for that you must have minimum 7 Partners to save the Income Tax. Or you can form a Pvt. Ltd. Company and the assets of the Partnership firm can be transferred as slum sale.
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