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CAPITAL GAIN

This query is : Resolved 
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(Querist)
07 August 2020 IF A UNLISTED PUBLIC COMPANY CONVERTS INTO PRIVATE LIMITED COMPANY THEN WILL BE IMPLICATION OF CAPITAL GAIN ON THE ASSET ( LAND AND BUILDING HELD BY THE COMPANY. COMPANY IS CLAIMING DEPRECIATION ON BUILDING .PLEASE GUIDE .THANKS
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
09 August 2020 I do not see any form of Capital Gain simply for conversion. Some form of Sales has to be there to check for gains or losses.
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