Conversion of partnership firm into a private limited compan
This query is : Resolved
07 July 2012
Is there any way to convert a partnership firm into a private limited company and that to without attracting capital gain tax and where the number of partners in the firm is two
07 July 2012
no, you must have atleast 7 partners
19 July 2012
Under Chapter 9 you can convert the Partnership into a Pvt. Ltd. Company but for that you must have minimum 7 Partners to save the Income Tax. Or you can form a Pvt. Ltd. Company and the assets of the Partnership firm can be transferred as slum sale.
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