What is the procedure to follow when a Pvt.Ltd.company takeover textile manufacturer &export partnership firm?

Question

What is the real life procedures to be followed with custom, DGFT etc. when a private limited company take over a textile manufacturer and export partnership firm?

Answer 1

It will be advantageous to merge the partnership firm to the private limited company or make the partership firm a shareholder. This will get you some tax benefits and also ability to carry forward losses, if any.

Best regards, Jidesh

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