hi,
i hv some queries in relation to conversion of partnership firm into pvt ltd thru part IX:
1) at the time of conversion only the capital acount shud be considered for share capital or capital n current account both taken together shud be taken as share capial?
2) The balance on the conversion date wud be taken for share caoital or the intial contribution as mentioned in partnership deed?
3) If the capital amount is less than the minimum requirement of Rs. 1lac what shud we do and if it is greater than the requirement of RS. 1lac hw to reduce the same (client want to reduce the capital account)?
4) Is public notice required for part ix/ if yes then at what stage?
CAclubindia
