Dear Experts, One of my client running a proprietorship firm and possessing of land, building, plant and machinery in the proprietor name and recently he has formed private limited company and having 50% of shares and remaining allotted to his wife and sons. Now my question is they wants to take over the proprietorship concern i.e. all assets and liability of the existing concern into private limited company. Whereas we have not mentioned these transaction in the object clause. Can anyone provide the procedure to be followed without facing any consequences in future. and they wants to avoid the capital gain tax under income tax act. Please share the step by step procedures.

Incorporation

Posted By: Aishwarya 8 year(s) ago