Service Tax if Proprietorship Firm merged with Company

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  1. pratik mohadikar

    pratik mohadikar New Member

    HELLO EXPERTS

    WE HAVE ONE CONCERN'S UNDER THE NAME OF BENCHMARK CORPORATION PRIVATE LIMITED I.E

    1. BRAIN DECODER BY BENCHMARK CORPORATION

    AND WE ALSO PROVIDE THE TUTION UNDER THE NAME OF EDUCARE ACADEMY AND THIS IS A PROP FIRM

    NOW QUESTION IS THAT
    CAN WE ADD THIS CONCERN I.E(EDUCARE ACADEMY) TO BENCHMARK CORPORATION OR NOT

    HOW MANY PROBLEMS ARE THEIRE TO DO THIS

    : REGARDING SERVICE TAX
    :REGARDING INCOME TAX
    : REGARDING VAT AND OTHERS

    AND ALSO TELL WHATS ARE THE BENEFITS FOR DO THIS

    THANKING IN ADVANCE
    8446549649
     
  2. Neha Sharma

    Neha Sharma Active Member

    As per the details mentioned by you, I understand that you have 1 Company and 1 Proprietorship Firm.

    So currently, you can claim Small Scale Exemption in Service Tax of Rs. 10 Lakhs for each of your organisation.

    However, in case you merge these - the limit of Rs. 10 Lakhs would be a combined limit.

    So in case you merge the 2 entities, you may loose out on the benefit of Small Scale Exemption which may currently be claiming.
     
    pratik mohadikar likes this.
  3. pratik mohadikar

    pratik mohadikar New Member

    thank you mam which means i can suggest them to continue your proprietorship firm and claim 10 lakhs in service tax.
     
  4. Neha Sharma

    Neha Sharma Active Member

    Yes, better to continue with proprietorship firm
     
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