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takeover of proprietorship firm by company

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(Querist)
29 August 2008 wot would be tax consequences and procedural formalities for takeover of proprietorship firm by company as going concern basis
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
06 September 2008 This is general purchase and company has to capitalize all the tangible/intangible assets and in case of inventories book the revenue expenses
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