Closure of Unit

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....losure of Unit<br> Query (Issue) Started By: - alluru udayasankar Dated:- 16-5-2012 Last Reply Date:- 23-5-2012 Income Tax<br>Got 1 Reply<br>Income Tax<br>Hello, We have opened Unit in Uttaranchal un....

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....der 80IC in 2007-08. 100% IT exemption was allowable upto 31.03.2012. We have opened another unit also in Uttaranchal Under 80IC in 2010-11. 100% IT expemption will be allowable upto 31.03.2015. My q....

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....ueries are 1.Can we close Unit I from 1st April'2012 and shift the transactions to Unit II for availling 100% IT expemption. 2.Can we transfer the closing stock in Unit I to Unit II from 1-4-2012. ....

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....3.Can we transfer all the other balances(debtors,Creditors) from Unit I to Unit II w.e.f 01.04.2012. Please advice me to proceed in a better way. Uday. Reply By shreenivas dotihal: The Reply: as p....

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....er my view, there is no specific provision in case of unit transfer to other unit. but one can do by following way to create on company and demerged the unit one to new company to claim exemption unde....

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....r 80IC.<br> Discussion Forum - Knowledge Sharing ....