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Conversion of company into llp

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(Querist)
18 June 2014 Can we change % of holding of Director and % of profit in case of conversion of Pvt Company into LLP
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
18 June 2014 while you may change, but that would trigger capital gains. please refer proviso (b) to section 47(xiiib)
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shweta joshi- Naik

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shweta joshi- Naik (Querist)
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.



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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 June 2014 then still above provision is applicable.

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