Proprietorship to Partnership firm

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....roprietorship to Partnership firm<br> Query (Issue) Started By: - Raman Singla Dated:- 7-2-2021 Last Reply Date:- 2-3-2021 Income Tax<br>Got 1 Reply<br>Income Tax<br>During Conversion of Proprietorshi....

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....p to Partnership firm... with assets and liability except which are doubtful to the new partnership firm(to the new partner) belongs to proprietorship.....Can we leave those doubtful (Unsecured Loan+L....

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....oan Advances,Sundry Creditors related to Proprietor) ??....What will be treatment of those Unsecured Loan+Loan Advances and Sundry Creditors in the balance sheet of Proprietorship ??? Reply By DR.MAR....

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....IAPPAN GOVINDARAJAN: The Reply: It depends upon the agreement made between the parties to the conversion.<br> Discussion Forum - Knowledge Sharing ....