Merge pvt ltd & proprietor co.
This query is : Resolved
16 August 2015
I am a director in a pvt ltd. formed in 1980, with other directors. 3 years back I stated a proprietor co .
in these 3 years the pvt ltd. shared ate now all family held and directors are now also internal. I want keep both the companies working if possible, but want to show all sales of the proprietor co. in the pvt Ltd company.
can the proprietor co. be subsidiary of the pvt ltd somehow?
if no choice, then I want the pvt ltd to take over the proprietor co and all sales transfers to pvt Ltd.
this way this year the sales of the pvt Ltd will increase drastically making the pvt Ltd books look very good
17 August 2015
Taking over of Proprietorship business by a Private Ltd co is possible, but you need to consider taxation effect in this transactions. you might have capital gain tax while taking over.
I think this is the only way by which you can merge business of Proprietorship into a Company.
Please consult a CA/Expert in this field who can explain this to you in detail.
I think this is the only way by which you can merge business of Proprietorship into a Company.
Please consult a CA/Expert in this field who can explain this to you in detail.
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- One Post a Week Done Right Beats Seven Done Wrong
- Interest on SCSS
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
