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Query in LLP Taxation |
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Query in LLP Taxation Facts
QUERY
Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
1. Tax liability for Private Ltd for the conversion There is no capital gains tax for Pvt. Ltd. Company on account of conversion, if conditions stipulated u/s 47(xiiib) of IT Act are complied with which are as follows:
However in case of non compliance of any of the conditions provided as aforesad, the amount of profits or gains arising from the transfer of such capital asset or intangible asset not charged under section 45 by virtue of conditions laid down in the said proviso shall be deemed to be the profits and gains chargeable to tax of the successor limited liability partnership for the previous year in which the requirements of the said proviso are not complied with.”. Page: 1 Old Query - New Comments are closed. |
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