Conversion of a Partnership to Pvt. Ltd. Company

HELLOW,

FIRST OF ALL INCORPORATE A NEW COMPANY AND U CAN SEE THE METHOD ON www.mca.gov.in.............

after incorporation the new company will take over the existing partnership firm.........

by this method u can save taxes on transfer of firm to company with persuinance of section 47 of income tax act........

for further q. u r welcome see my profile

with regards

Hi

Thank you for the reply.

Apart from the Income tax part, we have to address the stamp duty on the assets of the company on conversion. The same too covered there?

Whether a Partnership can be converted and registered under the provisions of section 565(1) 567 etc. of the Companies Act, 1956?

Pls. advice

regards,

Rajesh Pillai

hi.,

yeah asets r covered under this and you dont hav to pay any stamp duty on transfer........

further yes a partnership firm can be converted into a company