Capital gains
This query is : Resolved
23 December 2014
What are the implications with respect to conversion of a sole proprietor to a limited liability partnership firm with regards to capital gains and depreciation
23 December 2014
In normal course the question of capital gain does NOT arise. (If the land or building is transferred ....the question of section 45 of Income Tax Act may arise)
23 December 2014
it is not taxable but you have to complete the condition u/s 45.
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