Pls. clarify the difference between between:
* Conversion of a part. firm into Pvt. Ltd. company under Chapter IX
** Take over of a part. firm by an existing Pvt. Ltd. company
In the second case you doesn't need to follow the chapter IX procedure. You can purchase the partnership firm by entering into simple business purchase agreement with the partnership firm.
If you need further clarification than contact me.
RISHI
(cs)
(227 Points)
Replied 06 September 2009
Pls. clarify if we go by IInd option, how the assets will be shown in company's BS. If assets are revalued, would there be any capital gain?
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
