Sale of divisions to pvt ltd company
This query is : Resolved
25 October 2011
Dear Experts,
Greetings to all for Diwali festival!!!!!!!!!!!
May this Diwali Brings happiness, Joy, Peace in Everybody’s Life…
Just Coming to the topic I just need some help on one Issue..
The Issue is:-
There is a Proprietorship concern and it has 4-5 Divisions The Proprietor of this Concern is also Director in another Group company (Existing Pvt. Ltd) , Now He wants sell 3 Divisions of Prop. Concern to the Existing Pvt. Ltd Company.. and also Does not want to Discontinue the Existing Proprietorship business(rest 2-3 divisions will keep Running In the same name)
Please Tell what Formalities are required to be completed?
Will There Be any Tax Liability?
Will this be treated as Slump Sale?
Are there any other formalities in any other act Like Companies Act or Contract Act...
I hope you will Help me to perform my duties Efficiently..
Thanks
Greetings to all for Diwali festival!!!!!!!!!!!
May this Diwali Brings happiness, Joy, Peace in Everybody’s Life…
Just Coming to the topic I just need some help on one Issue..
The Issue is:-
There is a Proprietorship concern and it has 4-5 Divisions The Proprietor of this Concern is also Director in another Group company (Existing Pvt. Ltd) , Now He wants sell 3 Divisions of Prop. Concern to the Existing Pvt. Ltd Company.. and also Does not want to Discontinue the Existing Proprietorship business(rest 2-3 divisions will keep Running In the same name)
Please Tell what Formalities are required to be completed?
Will There Be any Tax Liability?
Will this be treated as Slump Sale?
Are there any other formalities in any other act Like Companies Act or Contract Act...
I hope you will Help me to perform my duties Efficiently..
Thanks
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