Conversion of firm into company

Tax queries 360 views 1 replies

Hello,

In case of conversion of Partnership firm into Private Limited Company, which provisions are applicable??

Do I have to file Income Tax return of Firm as well as Company both, or just for Company?

Replies (1)

Hello,

Sections 565 to 581 of the Companies Act, 1956.

Section 47(iii), 47(xiv), 47A(3) & 72A(6) of the Income Tax Act, 1961.


You have to file returns for both separately for the periods prior conversion(firm) and after conversion(company).


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