Conversion of proprietorship to company

This query is : Resolved

Jatin Biswakarma (Querist)
Follow

07 August 2019 Hello everyone, I'm aware of the fact that a Sole-proprietorship can be converted into a private limited company. But if anyone guide me in the following that will be really a great help. Can three different Sole-proprietorship firms owned by single individual be converted into one private limited company? If yes, then is it okay for the proprietor to hold only 50% or more voting rights in the private limited company to avoid capital gain tax while transferring all the three businesses? And finally, if any of you can provide the draft agreement in word format for such conversion under companies act 2013. Thank you.

Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=1269031

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 August 2019 Yes three different Sole-proprietorship firms owned by single individual be converted into one private limited company. It is okay for the proprietor to hold only 50% or more voting rights in the private limited company to avoid capital gain tax while transferring all the three businesses.
Make agreement from the link.
https://punjlloydgroup.com/investors/sites/default/files/pdf/Punj%20Draft%20BTA.pdf

Message likes : 1 times

Jatin Biswakarma

Jatin Biswakarma (Querist)
Follow

08 August 2019 Thank so much sir. Grateful for your reply.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 August 2019 welcome.................................

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SARAVANAN PALANISAMY

GST Karimnagar state

Darshan

Krishnamohan Gangaraju

CA Bijo scaria

Subscribe Now

Conversion of proprietorship to company

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA