hello ,
forum can u please tell me what is the legal procedure to convert proprietorship firm into pvt ltd co.
please this is very urgent.
thanks with regard.
2 Replies
CA Hemant T Dewani
(Chartered Accountant)
(3356 Points)
Replied 10 May 2008
firstly you will choose pvt ltd name then apply for name availability.then make memoradam & articals of asso. all prprietors properties transferred to co & he hold minimum 50% holding otherwise capital gain tax will be applicable & he should not transferred this shares minimum five years
pvt.ltd.co.requie minimum two shareholders & maximum fifty who are not holiding any capacity
bishan singh negi
(service)
(104 Points)
Replied 11 May 2008
sir,i f u dont mind could u please tell me the section for capital gain if the prop transfered his share before 5 year
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