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Conversion of aop to another form of entiry


Hemanth Patwari (Article)     26 November 2018

Hemanth Patwari
Article 
 34 points

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What is the procedure for conversion of AOP into an LLP or a Private Limited Company ? 

What are the tax implication and the legal issues involved ?

avater

Vishesh Surana   26 November 2018

Vishesh Surana

 355 likes  5617 points

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Such conversion would attract the capital gain tax , as it is not specified under section 47 of the IT Act, 1962 i.e certain transaction not to be regarded as transfer.


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