Convesion of pvt ltd co into llps

This query is : Resolved

jayesh shah (Querist)
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29 December 2014 I am having pvt ltd company which i am converting into LLPs. One of the share Holder is in HUF Capacity. AS per LLPs law, HUF can not become a Partner in LLPs.
What should do ?

Jayesh shah

c.bakshi

c.bakshi (Expert)
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30 December 2014 transfer the share of huf to some other shareholder

jayesh shah

jayesh shah (Querist)
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30 December 2014 IF I TRANSFER SHARES ,THERE WILL BE IMPLICATION OF CAPITAL GAIN BEING UN QUOATED SHARES. IF SHARES OF HUF OF MR.X PARTY TRANSFER TO MR. X STATUS INDIVIDUAL, i.e HUF Gift shares to Karta of Huf or Any members of HUF, Whether is it Taxable Gift or Tax free Gift?

I am very thankul for your answer

jayesh shah

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