I am having two firms. One in my name as Proprietorship and second firm (HUF) where i am the KARTA. SInce these days most of the dont give funding to the HUF firms. So i want to change the composition of my firm from HUF to Proprietorship so as to ease up the banking functions. Kindly let me know the proper procedure to follow.
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Change composition of my firm from huf to propritorship
Replies (2)
Start doing all the transactions in existing proprietorship and you can infuse the bank balance of huf account in your proprietorship account as a loan.
So no further transactions in huf account and business of huf will be closed.
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