DIVISION OF COMPANY
This query is : Resolved
24 March 2010
MY UNCLE IS RUNNING AN SSI MANUFACTURING FIRM, HAVING A TURNOVER OF @ 2.5 CR. THIS IS A PVT LTD CO. HE AND HIS WIFE ARE THE DIRECTORS.
THEY WANT TO START ANOTHER COMPANY I HIS HUF'S NAME. THIS COMPANY WILL MANUFACTURE CERTAIN ASSEMBLIES WHICH WILL BE SOLD TO PVT LTD COMPANY AND ALSO SOME OTHER ITEMS WHICH ARE NOT RELATED TO THE PVT LTD COMPANY. CAN THEY DO IT THIS WAY ?
THEY WANT TO START ANOTHER COMPANY I HIS HUF'S NAME. THIS COMPANY WILL MANUFACTURE CERTAIN ASSEMBLIES WHICH WILL BE SOLD TO PVT LTD COMPANY AND ALSO SOME OTHER ITEMS WHICH ARE NOT RELATED TO THE PVT LTD COMPANY. CAN THEY DO IT THIS WAY ?
25 March 2010
Beware of the clubbing provisions....there are so many case laws in this area and you may examine them before deciding....
siva208@yahoo.com
siva208@yahoo.com
25 March 2010
For the said option, proper analysis of subjected firm's, its stakes, controlling etc. required.
Advisable to have the expert's opinion in written before any action is taken from Income Tax and Excise point of view specially.
Regards
K.L.Paliwal
Advisable to have the expert's opinion in written before any action is taken from Income Tax and Excise point of view specially.
Regards
K.L.Paliwal
28 March 2010
agreed with Mr. Kishanlal Paliwal. u must take proper advise before taking any decision in this regard
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Copyright software
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
