a proprietory concern is converted to a pvt ltd compnay. all the assets are transferred to company at NBV. is this transaction will be treated as transfer under capital gains?
Menu
capiatl gains
Replies (3)
I DO NOT REMEBER THE SECTION BUT TRANSER WILL NOT BE TREATED AS CAPITAL GAIN. FOR DETAILS READ EXCEPTIONS TO TRANSFER OR EMAIL GIVE ME UR EMAIL ID I WILL SOON SEND U DETAILS WITH SECTION & OR U CAN REFER v.k. sINGHANIA 'S REFERNCE BOOK FOR PCC cHAPTER cAPITAL gAIN
I DO NOT REMEBER THE SECTION BUT TRANSER WILL NOT BE TREATED AS CAPITAL GAIN. FOR DETAILS READ EXCEPTIONS TO TRANSFER OR GIVE ME UR EMAIL ID I WILL SOON SEND U DETAILS WITH SECTION & OR U CAN REFER v.k. sINGHANIA 'S REFERNCE BOOK FOR PCC cHAPTER cAPITAL gAIN
conversion of proprietory concern into a company is exempt under section 47(xiv) but certain condition have to be satisfied.please check the conditions
Recent Topic
- Clubbing of deceased's income
- Как быст
- Which ITR to use
- Sovereign gold bond capital gain
- In TDS section no column for relationship in itr
- Query related to agricultural income of Trust
- Full & Final Settlement — what changed u
- Capital gains or losses when new equity was issued
- Looking for a FMCG foods business to acquire
- Sale of mutual fund in zerodha and AIS
Related Topics
CAclubindia
