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How to claim carry forward losses upon change of consitution

Tax queries 310 views 1 replies

I have a Pvt ltd company with 22L accumulated losses.

Now I have converted this company into LLP also the name is changed, it is duly approved by MCA.

I understand the PAN number needs to be corrected as the constitution of firm is changed from Private Limited to LLP along with Name Change

But my query is – how to Continue / carry forward the existing loss of PVT company to the LLP.  Specially when the PAN number will change.

I sent my accountant to ITO , but the ITO , PRO could not give any clear cut suggestion, as to how to claim the carry forward losses of PVT LTD in LLP.

So can you please advise how to resolve the PAN card issue and claim the Carry forward losses.

 

Replies (1)

In my opinion, you will simply have to claim the loss under the revised PAN and upon scrutiny, you will have to provide documentation relating to conversion of status and consequently, the change of PAN. However, you would do better to consult an expert.


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