01 July 2013
My proprietorship firm converted to private limited company on 27/04/2013 mentioned in MOA that all assets & liabilities taken over by private limited company and agreement is also made mentioned that books of account will be maintained from 01/04/2013 onwards
My question is Does we need to maintained both accounts i.e 01/04/2013 to 26/04/2013 of proprietorship and 27/04/2013 31/03/2014 of private limited company ?
01 July 2013
Thanks sir but profit earned prior to incorporation is related to proprietorship firm does proprietor needs to pay tax on it or company will pay.
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