Change in Constitution of Firm
This query is : Resolved
12 March 2009
what r the procedures/circumstances when partnership firm can be converted in to sole propreitorship firm. Is there any tax liability on firm on such conversion
12 March 2009
1. On the dissolution of Partnership firm by mutual consent.
2. Death of a Partner and the number of partners are two.
After conversion, firm's income will be taxable in the hands of prop.
2. Death of a Partner and the number of partners are two.
After conversion, firm's income will be taxable in the hands of prop.
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