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Pvt Ltd Company to LLP Conversion: Where to Show Pvt Ltd Loss in Tax Return?

T S Khurana | Answer |Ask -Follow

Tax Expert - Answered on Aug 04, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Question by Ravinder on Jul 24, 2024Hindi

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sir, my question is. i have converted my Pvt ltd company into LLP. So in which coloum in a tax return the loss of Pvt company to be shown. kapoor

Ans: You have converted your Private Limited Company into LLP during the year. You should declare Profit/Loss from both PLC & LLP separately. Profit from PLC (Private Limited Co), till the date it was operational & afterwards as LLP (from the date of its inception).
Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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