How to convert sole proprietorship into One Person Company (OPC) in India?

How to convert sole proprietorship into One Person Company (OPC) in India?

If you are running a sole proprietorship firm and wants to convert it into One Person Company, then we need to convert it according to the Income Tax Act, 1961 so that you can save your tax on the conversion process.

As per income tax act, conversion of sole proprietorship into Private Limited Company is exempt from tax, however, subject to the prescribed conditions.


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