WHAT ARE THE PROCEDURE OF CONVERSION PROPRIETORSHIP FIRM CONVERT INTO PVT LTD CO.
PLZ HELP ME
IS ANY AGRREMENT COPY REQUIRED OR OTHER FORMALITIES DONE
2 Replies
AMIT MISHRA
(Legal Professional)
(393 Points)
Replied 04 August 2011
Properitership firm cannot be converted although a partnership firm can be converted.
The same business can be taken over by incorporating a new company i.e. 2 or more members in case of a private company and subsequent obtaining of DIN, DSC and filing E-Form 1A, 1,18,32
Thanks & Regards
Amit Mishra
BSamrish & Co.
Mohammed
(CS, Mcom, LLB)
(857 Points)
Replied 04 August 2011
You cannot convert proprietorship concern into company. However a company can take over the business carried by a sole proprietorship. For this you need to incorporate a company following usual formalities viz., getting the name approval by filing Form 1A and then within 60 days of name approval filing Form 1 for Incorporation alongwith MOA, AOA, Form 18 , Form 32 and Power of Attorney.
However in the main object clause of MOA specify taking over the business of M/s. ....................(Proprietorship name) as one of the main objects.
Source: /forum/details.asp?mod_id=10771&offset=2
Recent Topics
- Is TCS applicable on sale of used car by a Compnay
- Hsn wise data in GSTR 1
- Accounting treatment of Conversion of a part of Ag
- AO's Query on Bad Debt Claim – Need Guidance
- Capital account entry in tally
- TDS Applicability on Commercial Photography & C
- CSR via Trusts and Form 10BE - Legality of 80G Cla
- NRO Conversion vs Closing Account and Gifting to M
- Exchange gain loss
- Donation to Prime Minister Relief Fund
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
