deduction u/s 80IC continued after conversion into LLP
This query is : Resolved
10 December 2010
One of My Corporate Client is claiming dedcution u/s 80IC from AY 10-11 for unit at Haridwar.Now they want to convert company into LLP. Please adivse: a) Whether tax holiday benefit under section 80IC of the Income Tax Act available to the industrial undertaking/unit/company continue post conversion to LLP. b) Whether any change in the name now or after conversion in to LLP without changing in Directors/partners/shareholders, would affect the Tax Holiday under section 80IC.
16 December 2010
In both the situation tax benefit u/s 80IC will remain continue.
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