Conversion of property into joint stock

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Soniya Maheshwari (Querist)
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23 April 2014 Dear all,

We are having plots by individual names. We wish to collaborate with builders & developers to give it for construction. as these properties belong to family members can we create a joint venture or can transfer it into LLP. Please suggest the proper treatment with tax obligations.

Rupesh Jain

Rupesh Jain (Expert)
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23 April 2014 YOU MAY MAKE PARTNER SHIP AND THEN YOU MAKE JOINVENTURE WITH ANY BUILDERS.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 April 2014 or alternatively, just do a multiparty joint development agreement. each of the member shall bring in his share of property in the joint development. The share to be paid to each party can be provided therein. No need to incorporate any additional entity which unnecessarily increases the compliance.

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