Direct Taxes
This query is : Resolved
10 April 2011
Under capital gain..section 47..is coversion of LLP into Company is a exempt transfer for A/Y 2011-12?
10 April 2011
No, transfer of capital asset on conversion of an LLP into a Company is not regarded as exempt transfer.
However, Transfer of capital asset or intangible asset by a private company or unlisted public company to LLP is exempt from the AY 2011-12 subject to certain conditions.
However, Transfer of capital asset or intangible asset by a private company or unlisted public company to LLP is exempt from the AY 2011-12 subject to certain conditions.
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11 April 2011
thanks a lot paras sir..
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