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TMI BlogExemption u/s 80ICX X X X Extracts X X X X X X X X Extracts X X X X ..... Our asseese is running a factory claiming exemption u/s 80IC .Our asseese is a sole prop. Now our assesse has decide to convert his sole prop. in to partnership firm. Exemption period u/s 80IC is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yet to be finished. Now my queery is whether the new partnership firm is eligible to enjoy the expemtion u/s 80IC for the remaining period or not. - Reply By r.rajkumar kumar - The Reply = accordi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to the Section 80IC it never says convert of the company it says it should not be the extention of the present company hence i think convert may be permited and eligible to claim u/s 80IC sin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce the business is in the same exemption area. - Reply By deepak gulati - The Reply = The section speaks about undertaking and not Assessee, hence will be permitted. - Reply By Amrish Gupta - The R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eply = I had a talk with Dr. Girish Ahuja, he said the constitution of the asseese hasbeen changed with this conversion. So the new partnership firm is not eligible to claim the balance period expemt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. Now by considering yours views Mr. ahuja's views sitution is now contradictory.............please help to overcome this............ - Exemption u/s 80IC - Query Started By: - Amrish Gupta Dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed:- 10-1-2012 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... axmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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