Conversion of company into llp
This query is : Resolved
18 June 2014
Can we change % of holding of Director and % of profit in case of conversion of Pvt Company into LLP
18 June 2014
while you may change, but that would trigger capital gains. please refer proviso (b) to section 47(xiiib)
18 June 2014
Ok, Partners can not get consideration other than of share capital, profit! Then can we change the ratio after conversion of company into LLP by executing Supplementary Agreement.
24 June 2014
then still above provision is applicable.
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