Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

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

T S Khurana |436 Answers |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

Listen

Money

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.

MoneyReply

You may like to see similar questions and answers below

Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on May 27, 2024

Asked by Anonymous - Mar 11, 2024Hindi

Listen

Money

My Salary income is 6LPA also I have STCG of 3LPA but now I have incurred loss of 1LPA. What tax planning should I do to save taxes as my total income is 8LPA. Should I go with old or new tax regime also what deduction should I opt for how much

Ans: Old regime will make more sense for you.

PPF / LIC / ELSS - 150000
MEDICLAIM - 50000
MEDICLAIM FOR SENIOR CITIZEN PARENTS - 25000
NPS - 50000
HRA at actuals. Housing loan / Student loan / Donation also at actuals.

Please take your CAs advice before moving ahead.

Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on May 28, 2024

Question by Arnab - May 28, 2024Hindi

Listen

Money

I have sold my Pvt limited company where in I had 25% Share in the company, got 4 Cr as proceeds . I have 3 properties in my name jointly with my wife. How can I save tax ? Please suggests

Ans: Unfortunately since you own more than 2 properties in your name there are not much options available.

You can invest in REC / NHAI bonds to the tune of INR 50 lakhs.

Please take your CAs advice before moving ahead.

T S Khurana |436 Answers |Ask -Follow

Tax Expert - Answered on Dec 06, 2024

Asked by Anonymous - Nov 08, 2024Hindi

Listen

Money

IN THE YEAR 2022-23 I SOLD SOME SHARES IN LOSS. SOME 1.50 LAC LOSS WAS THERE. THIS LOSS CAN BE CLAIMED FROM LTCG TAX?

Ans: 01. Kindly mention, whether this was a STCG or LTCG.
02. You may set off STCL against any of the STCG or LTCGs. However, LTCG can be set off against LTCG only.
03. Loss can be carried forward for a period of 8 years, provided you have filled your ITRs.
Most welcome for any further clarifications. Thanks.

Latest Questions

Dr Dipankar Dutta |1093 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on Apr 05, 2025

Asked by Anonymous - Mar 20, 2025Hindi

Listen

Career

I am confused between pursuing between bsc microbiology and bsc chemistry which have better future in india

Ans: BSc chemistry definitely

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Asked by Anonymous - Apr 04, 2025Hindi

Listen

Career

Sir I Have scored 85 percentile in jee mains ,so should I take drop or should get myself enrolled in some other institutes like IISER OR BHU for example

Ans: You should not take drop.

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Asked by Anonymous - Mar 21, 2025Hindi

Listen

Career

I got 96.5 percentile in JEE Mains Session 1 (SC). West Bengal home state. I have a interest in sports and would like to go with some electronics related branch. Which NIT & branch combination would be the best choice for me. I was thinking about NITR EIE

Ans: Go for NIT -Durgapur.

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Question by Nsms - Mar 21, 2025Hindi

Listen

Career

My son got 92.2%ile in jee mains. General category and up domicile. Can he get into any IIIT ? If yes please mention college name and branch too if possible.

Ans: College name I won't mention,but I think he will certainly get low ranked IIIT

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Asked by Anonymous - Mar 20, 2025Hindi

Listen

Career

I am a second-year mechanical engineering student with an interest in AI. I want to understand the scope of AI and the possible future in India. Also, how do you think Amazon layoffs will affect the nature of jobs available in India? What kind of additional courses I can take up along with my engineering studies to be able to get a good job with a good starting salary?

Ans: Go for MS from USA in AI.Then you can think of a good job of AI.Your GRE SCORE must be very good.Why have you opted for Mechanical?

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Asked by Anonymous - Mar 19, 2025Hindi

Listen

Career

I got 78.92 percentile in jee mains 2025 in obc quota. Can i appear for jee advance?

Ans: If your rank is within two and half lakhs you can appear,but I think your overall rank will be too low,so chance is less.

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Asked by Anonymous - Mar 19, 2025Hindi

Listen

Career

90.012 percentile .suggest a college around south india.im a tamilan

Ans: Any GOVT COLLEGE OF ENGINEERING IN Tamilnadu.In NIT TRICHY you won't get the branches which are in high demand.

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Question by harpreet - Mar 08, 2025Hindi

Listen

Career

Hlo sir.... myself Harpreet singh, 29yr old.I have done my BAMS(bachelor of medicine and surgery) in 2024.after that i join a multispeciality hospital.(1 year experience).now i looking for permanent job in Australia.so what i can do for job.

Ans: BAMS is your problem.It is not MBBS.I think Australia won't accept BAMS.

Prof Suvasish Mukhopadhyay |552 Answers |Ask -Follow

Career Counsellor - Answered on Apr 05, 2025

Question by Eapen - Mar 11, 2025Hindi

Listen

Career

My daughter got 95.9 percentile in JEE Paper 2A Architecture exam. What is her chance for getting admission to B.Arch in NIT or SPA under general category?

Ans: I think she will definitely get in NIT.

Mayank Chandel |2176 Answers |Ask -Follow

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Apr 05, 2025

Question by Chudamani - Mar 17, 2025Hindi

Listen

Career

I got 88.25percentile from obc NCL (male) category can I get any branch in any nit /iiit/GFTI.

Ans: Hello Chudamani
it would be very difficult to get into NIT or IIIT or GFTI at this percentile.

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x