Slump Sale (Section 50B of Income Tax Act, 1961) What is a Slump Sale? According to Section 2(42C) of the Income Tax Act, 1961, a ‘slump sale’ refers to the transfer of one or more undertakings as a result […]
Conversion of Sole Proprietorship into Private Limited Company A Sole Proprietorship is a business entity wholly owned and controlled by an individual. It is ideal for those starting small businesses, but as the business grows, transitioning to a more structured […]
When entrepreneurs embark on their business journey, forming a partnership firm often serves as a straightforward initial step. However, as businesses expand, partners may contemplate transitioning into a company. This transformation, while seeming daunting, offers significant advantages and necessitates understanding […]
Legal provision – Section 43B(h) 43B(h) any sum payable by the assessee to a micro or small enterprise beyond the time limit specified in section 15 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006),shall be […]