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Proprietorship Firm into LLP

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The Taxation professionals at ExpertsLand can answer your Proprietorship firm into LLP questions like:

  • My father has trading busniess in France , He is payinng huge amount of takes because of the sole proprietorship. He wanted to lower down the taxes . He is asking me what he should do. Should I sugest him to open one LLP and shut down sole proprietorship because he will get tax saving under LLp ? Is it advantageous to convert proprietorship firm into LLP?
  • My brother had proprietorship firm. He converted it into LLP .but diidnot got any benefit from any conversion. What should I suggest him to do because someone told him that he will get tax savings under LLp, if he convert his Proprietoship into LLP.
  • I am planning to convert my proprietorship into LLp. What are the procedural requiremnets that I need to follow with , to not to face any legal obligations or penalities in future.
  • Will as a manufacturer I get any benefit if I convert my small proprietrship frim into LLP.
  • I own one proprietorship firm. I am unable to manage it alone . I wanted few others to join me. I am confused with whether to convert it into LLP or INC. Please help me.

 

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