Conversion of proprietorship to company
This query is : Resolved
07 August 2019
Hello everyone, I'm aware of the fact that a Sole-proprietorship can be converted into a private limited company. But if anyone guide me in the following that will be really a great help. Can three different Sole-proprietorship firms owned by single individual be converted into one private limited company? If yes, then is it okay for the proprietor to hold only 50% or more voting rights in the private limited company to avoid capital gain tax while transferring all the three businesses? And finally, if any of you can provide the draft agreement in word format for such conversion under companies act 2013. Thank you.
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=1269031
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=1269031
07 August 2019
Yes three different Sole-proprietorship firms owned by single individual be converted into one private limited company. It is okay for the proprietor to hold only 50% or more voting rights in the private limited company to avoid capital gain tax while transferring all the three businesses.
Make agreement from the link.
http://punjlloydgroup.com/investors/sites/default/files/pdf/Punj%20Draft%20BTA.pdf
Make agreement from the link.
http://punjlloydgroup.com/investors/sites/default/files/pdf/Punj%20Draft%20BTA.pdf
Message likes :
1 times
08 August 2019
Thank so much sir. Grateful for your reply.
08 August 2019
welcome.................................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Closure of a PVT LTD company
- Non Deduction of TDS- 194IB
- HUF Dissolution
- Took advance of Rs 500000/ for supply of iron goods
- ROC filings for the first year of incorporation
- Escrips ROdtep time limit
- Real estate business by a partnership firm where both of the partners are SC/ST
- Filing d ITR by registered legal heir
- When I Login E-invoice portal with waybill user id and pw, it is showing 3011 error data
- Short term capital gain Section 87A
- FILING OF STAY PETITION WITH CHIEF COMMISSIONER OF INCOME TAX
- Professional tax deduction monthly
- Cross charges verses Isd methof
- Refund Application in RFD 01 for Export without payment of tax
- Ewaybill bill to ship from
- Fail to issue gst invoice from last 46 months
- GST on Overtime Charges
- RCM Applicability on Services
- Change in Shareholders Name
- APPLICATION FOR AVAILING BENEFITS UNDER GST AMNESTY SCHEME & REQUEST FOR ADJUSTMENT/REFUND OF EXCESS
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
