Hi,
We would like to convert the status of a partnership to a company under the Companies Act, 1956.
What all the best alternatives ways to change the status from Partnership to Company?
We have to take care of the stamp duty and taxes involved at the time of conversion and therefor kindly advice us a suitable method.
Kindly provide us with the list of proceedures to be followed
best regards,
Rajesh Pillai
HELLOW,
FIRST OF ALL INCORPORATE A NEW COMPANY AND U CAN SEE THE METHOD ON www.mca.gov.in.............
after incorporation the new company will take over the existing partnership firm.........
by this method u can save taxes on transfer of firm to company with persuinance of section 47 of income tax act........
for further q. u r welcome see my profile
with regards
Hi
Thank you for the reply.
Apart from the Income tax part, we have to address the stamp duty on the assets of the company on conversion. The same too covered there?
Whether a Partnership can be converted and registered under the provisions of section 565(1) 567 etc. of the Companies Act, 1956?
Pls. advice
regards,
Rajesh Pillai
hi.,
yeah asets r covered under this and you dont hav to pay any stamp duty on transfer........
further yes a partnership firm can be converted into a company
CAclubindia
