Benifit of converting firm into proprietorship ?
This query is : Resolved
29 August 2012
Hi
Pls let me know what is the benefit if i convert my firm into two business ,( 2 partners are there in existing firm and now changing to two proprietorship )
Firm has loss now and we are carrying it forward from past 4 yrs.
pls suggest
Pls let me know what is the benefit if i convert my firm into two business ,( 2 partners are there in existing firm and now changing to two proprietorship )
Firm has loss now and we are carrying it forward from past 4 yrs.
pls suggest
29 August 2012
Loss pertaining to the retiring partner cannot be carried forward if the partner retires.
no benefit accrues except the business of the prop is taxed at slab rates
no benefit accrues except the business of the prop is taxed at slab rates
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