Hello Friends,
Please state the procedure to convert Partnership firm to A.O.P to get income tax benefit.
Thanks in Advance,
Kiran Kumar V
2 Replies
CA ASHISH GUPTA
(FCA, LL.B., MBA)
(390 Points)
Replied 22 December 2010
Partnership firm cannot be converted in AOP as per my view.
Paresh Rathod
(CA)
(222 Points)
Replied 22 December 2010
The total provisions with regard to treatment of FIRM as AOP shall rest in consonance with section 184(3) ;184(5) and under sec 185.
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