Conversion of partnership firm to LLP
This query is : Resolved
20 December 2019
While converting a P. firm into LLP, the assets were revalued. The amt of revaluation was credited to partner's a/c in its PSR. Whether it is taxable in the hands of Firm/LLP/its partners?
29 May 2020
It will be taxable in the hands of firm.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
OR add as source on Google news
- Acquisition of a society by a company
- EPF withdrawal before 5 years and Disclosure in ITR-2
- ITC Utilization on vehicle repair
- Clarification on ITR 3: Is Sl. No. 64 required for 44ADA income?
- 2.25 CRORE TRADER, NO CASH TRANSACTIONS,3CD APPLICABLE?
- Transfer of immovable property without consideration
- FORM 115BAC
- Transfer of partnership interest in LLP
- Investment guidance for NRI
- Derivative loss
- Tax invoice in special case
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- GST on Restaurant service
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
- Switch over to Composition Scheme
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
OR add as source on Google news
CAclubindia
