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conversion of proprietorship into private limited company

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(Querist)
11 July 2011 Sir,

what will be the accounting treatment when a proprietorship concern is converted into private limited company?
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
11 July 2011 no such separate and different accounting treatment,new entity i.e. company will account for what it has taken over...depending on nature of transactions.

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