Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2015
What is the status of OPC under Income Tax ACt? Whether Capital gains would arise upon conversion of OPC into limited Company?
23 January 2015
Some of the income tax provisions presently applicable to a company, also applicable to OPC.
in case of OPC, its entire income will be taxed at 30% (plus applicable surcharge & cess).
An OPC may convert into private / public company voluntarily. Capital gain tax not applicable on such conversion.
in case of OPC, its entire income will be taxed at 30% (plus applicable surcharge & cess).
An OPC may convert into private / public company voluntarily. Capital gain tax not applicable on such conversion.
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