can Private limited company be proprietor

This query is : Resolved

Samir (Querist)
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13 June 2009 Can a private limited company be a proprietor and can you please let me know how and tax implication.Appreciate if a detail procedure can be email at samirambavi@gmail.com

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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13 June 2009 You can not convert a private company to a proprietor business. you have to Sell all assets of company to proprietor and win up company in usual manner.

Ankur Garg

Ankur Garg (Expert)
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13 June 2009 A private limited company can not be a proprietorship.

Regards

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Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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13 June 2009 A company is artificial legal person. Like any other person it can be proprietor of any business unit. Say ABC p ltd is propritor of XYZ business unit.