take over of proprietorship business by a new pvt ltd. co

Dear Renu,

in what respect you want to know about.......... whether for income tax purpose or accounting purpose......... or general...........

for your query kindly refer to the following link:-

/forum/conversion-of-sole-trading-into-limited-company-10771.asp

Dear Raspreetji,

         thanx a lot for your ans. but my question is about conversion of a sole propritorship into a pvt, ltd. co.

are there any forms that i shold file at the time of  filing of Form 1, .

In Companies law there is no point of conversion of a proprietorship concern into a company. A company may purchase the entire business of a proprietorship concern.

You will have to comply with all the formalities which are required to form a company in any case.

So the best way is that you simpy form a company as per the requirement of Companies Act, 1956 & then takeover the business of Proprietorship concern through takeover agreement.

An existing Compnay wants to take over the entire business of a proprietorship firm.

Pls specify the procedure.

How to cope up with the requirements of Income Tax Act.

Format of agreement of business purchase