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Sec 47

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14 June 2010 I have 2 proprietary concerns and am a partner in another firm with my wife. I wish to transfer all the three concerns into one pvt ltd co. All three concerns owns immovable property. Will Capital gain arise or will all the three will be covered u/s 47(iv)/ (xvii).

If taxable transfer, any possible way out to save tax.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
15 June 2010 no it is not a taxable transfer(provided all assets and liabilities has been transferred)
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