Incorporation
This query is : Resolved
23 November 2011
I have created a partnership firm and construction and installation of machinery is in process. Now I want to work as a Pvt Limited Company. What are the options I can go for ?
Should I convert partnership into company or incorporate a co having partnership firm as a director or member ?
Should I convert partnership into company or incorporate a co having partnership firm as a director or member ?
23 November 2011
I Think Best Way Dissolve Firm.
Create New Company or Buy From Market.
Create New Company or Buy From Market.
24 November 2011
Form a Private Company and acquire the assets and liabilities of the running business of the partnership firm by entering an agreement.
The agreement may be made before the incorporation of the Company by the promoters of the Company and seller of the business, which on incorporation shall be ratified by the Company.
or
the partners of the firm can be become the subscribers to the Memorandum of Asoociatopn and also the promoter of the Company. The assets ad Liablities can be taken over by the Company.
The agreement may be made before the incorporation of the Company by the promoters of the Company and seller of the business, which on incorporation shall be ratified by the Company.
or
the partners of the firm can be become the subscribers to the Memorandum of Asoociatopn and also the promoter of the Company. The assets ad Liablities can be taken over by the Company.
24 November 2011
Dear Charu, if the partners become the promoters and assets and liabilities are taken over, is there any capital gain on that ?
26 November 2011
Actually I Not Suggested to Take Over Business of Firm and Form Company, Because There are Certain Conditions to Be Fulfilled in Sec 47 of Capital Gain to Claim Exemption from Capital Gain.
Best Way That i Suggested to u Before.
Best Way That i Suggested to u Before.
18 September 2012
Pv ltd company incorporated but the firm is still there. The partenr in the firm is one of the promoter of company. What shd to do now>
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
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- Missed TDS
- TDS NOT YET CREDIED
- TDS refund Indemnity Bond
- Gst reverse charge mechanism to be claimed in the month of payment
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding reporting of exempt foreign remuneration in ITR
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
