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Capital gains

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(Querist)
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
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Amol S Joglekar

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Amol S Joglekar (Expert)
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)
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Rupesh Jain

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Rupesh Jain (Expert)
23 December 2014 it is not taxable but you have to complete the condition u/s 45.
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