Closure of Unit

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..... Hello, We have opened Unit in Uttaranchal under 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 .....

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..... expemption will be allowable upto 31.03.2015. My queries 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 t .....

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..... he closing stock in Unit I to Unit II from 1-4-2012. 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 wa .....

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..... y. Uday. - Reply By shreenivas dotihal - The Reply = as per 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 an .....

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..... d demerged the unit one to new company to claim exemption under 80IC . - Closure of Unit - Query Started By: - alluru udayasankar Dated:- 16-5-2012 Income Tax - Got 1 Reply - Income Tax - Discuss .....

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..... ion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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