Atharv Sankliya (1356 Points)
21 October 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183387 Points)
Replied 21 October 2022
No. Only tax audit u/s. 44AB is mandatory.
Ltd companies enjoy corporate tax benefits, where taxes are levied on profits at lower rate. On the other hand, a proprietorship not being a corporate entity cannot take advantage of the corporate taxation structure’s exemptions and benefits. That is one of the main reason for conversion.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 21 October 2022
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 26 October 2022
CAclubindia
