Menu
Takeover of Company Assets
There is a proprietorship of a person, and he and his wife are director in a private limited company. Now he wants to wind up the company and transfer the assets of the private limited company to the proprietor business he holds. kindly advise what will be the procedure for the same and tax implications.
Replies (2)
1. It is not allowed to convert Company into Prop firm.
2. Company can sell the assets to Prop Firm.
Recent Topics :
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
- NPO registered under sec 8 itr filing
- Form 144 (Earlier 27Q) – Reason Code (A/C/G/
- Nps taxation
Related Topics :
CAclubindia
