LIMITED LIABILITY PARTNERSHIP
This query is : Open
SUNIL GUPTA
(Querist)
18 November 2009
WE ARE PARTNERSHIP FIRM WITH TWO PARTNERS. WE WISH TO CONVERT THE EXISTING PARTNERSHIP FIRM INTO LLP WITH THE EXISTING PARTNERSHIP CAPITAL EMPLOYED AND PROFIT RATIO. PLEASE EXPLAIN COMPLETE PROCEDURE.
IS NEW REGISTRATION REQUIRED WITH THE EXCISE, SALES TAX & OTHER DEPARTMENTS?
IS NEW PAN NUMBER AND TDS NUMBER REQUIRED?
ANY CAPITAL GAIN?
THANKS
SANJIV BATRA
IS NEW REGISTRATION REQUIRED WITH THE EXCISE, SALES TAX & OTHER DEPARTMENTS?
IS NEW PAN NUMBER AND TDS NUMBER REQUIRED?
ANY CAPITAL GAIN?
THANKS
SANJIV BATRA
CA. B.SRINIVASULU
(Expert)
18 November 2009
You have to obtain new registrations for LLP and surender old registrations of partnerhsip firm.
If partners are same and sharing ratio is same then Capital gains will not arise provided the net worth of the firm is the capital of the LLP.
If partners are same and sharing ratio is same then Capital gains will not arise provided the net worth of the firm is the capital of the LLP.
SUNIL GUPTA
(Querist)
27 November 2009
2
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