Tax implication on conversion of proprietorship into llp


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 December 2017 Two sole proprietorship concern wants to join hand as an LLP what will be the tax implication and what is the procedure?

Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
11 December 2017 As per my view Can't convert proprietor to any other firm...

30 September 2021 No tax liability. Both the individuals form the LLP and transfer their Proprietorship's assets to the firm as their capital.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query