Menu
Is it mandatory to convert sole proprietorship
is it mandatory to convert sole proprietorship to company or LLP if sole proprietorship cross the turnover and profit about 100s of crore ?
Replies (4)
Quick Summary
No. Only tax audit u/s. 44AB is mandatory.
Ltd companies enjoy corporate tax benefits, where taxes are levied on profits at lower rate. On the other hand, a proprietorship not being a corporate entity cannot take advantage of the corporate taxation structure’s exemptions and benefits. That is one of the main reason for conversion.
@ Arthav ,
There is no such requirement
There is no such requirement
Follow OPC.
What is the relevance of OPC in this query
Recent Topics :
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
- Penalty & late fee for late ITR filing
- Business discontinued as Government took possessio
Related Topics :
CAclubindia
