Transfer u/s 47
This query is : Resolved
30 December 2009
whether conversion of Sole proprietor to firm is considered as Transfer for computing Capital Gain?...
30 December 2009
Dear
There is only change of constitution, the ownership remains the same so it is not a transfer
There is only change of constitution, the ownership remains the same so it is not a transfer
30 December 2009
Agree with the expert.
But certain conditions are to be fulfilled viz. holding not less than 50% of share capital for a period of five years.
But certain conditions are to be fulfilled viz. holding not less than 50% of share capital for a period of five years.
30 December 2009
Agree with the expert.
But certain conditions are to be fulfilled viz. holding not less than 50% of share capital for a period of five years.
But certain conditions are to be fulfilled viz. holding not less than 50% of share capital for a period of five years.
30 December 2009
agree with both experts
30 December 2009
It will not be regarded as transfer and conversion of sole propritory concern to in to firm and Firm by the company etc dealt with specifically in capital gain chapter.Refer sec 47 for more details
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