Capital Gain Incidents
This query is : Open
10 April 2026
An individual was a pertner in an LLP since 2018 with a Capital contribution of Rs 20Lakhs. During August 2025 the subject LLP was converted in to an unlisted Private limited Company and the Individual partner was alloted 29,650 equity shares of Rs 100 each in the newly formed provate limited company against individual's capital in the LLP. During April 2026, the Individual sold 50% of alloted share (14825 equity shares) in the Private limited company to another individual for a total consideration of Rs 40Lakhs. Compute the Tax implications for AY 2026-27 and 2027-28 with respect to conversion and sale of shares.
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