Hello
We are converting our company to LLP before conversion we have carry forwarded losses and Unabsorbed depreciation can we carry forwarded that loss and depreciation after the conversion.
If the answer is yes or no, can you provide the section.
Thanks
If a private company is converted to an LLP as per the provisions of section 47 (xiiib), then the successor LLP is allowed to carry forward and set off the business loss and unabsorbed depreciation of the predecessor company.
In case of any further queries, kindly mail me at casoravgupta @ gmail.com
Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)
CAclubindia
