15 November 2008
Firm will be dissolved by dissolution deed. You need to submit the copy of the deed with Income Tax and Sales Tax departments. You also need to surrender your Sales Tax number. Partners will be taxable U/s 45(4)(Capital Gain) for the amount received on dissolution. It does not matter that the firm was registered with ROF or not because it was already registed with Income Tax and Sales Tax and we have make these treatment.
15 November 2008
i would like to make one suggestion. dissolve firm wef 31.3.2008. Firm is registered or not, on dissolution, notice of dissolution is to be given to public, otherwise liability on partner will cont.
Yes you can make deed of dissolution today having effect from 1.4.2008
CAclubindia
