Beruflich Dokumente
Kultur Dokumente
Ashish Goyal
Advocate
Capital Gains
Stock in trade
Set-off and carry forward of losses
Depreciation and other incentives
MAT & MAT Credit
Other points to remember
Planning
Section 47(xiiib)
On date of conversion
1. All assets and liabilities of company immediately
before conversion become assets and liabilities
of LLP
2. All shareholders of company immediately before
conversion become partners of LLP
3. Their capital contribution and profit sharing
ratio in LLP are in same proportion as their
shareholding in company.
4. Shareholders of company do not receive any
consideration/ benefit (directly or indirectly) in
LLP
Preceding 3 PYs.
Total sales/ turnover/ gross receipts in the
business of company in any of 3 Preceding
PYs <= 60 lakhs.
(seems turnover of business revenue)
Total book value of assets of company in any
3 preceding PYs <= 500 lakhs
Subsequent years
5 years - Aggregate profit sharing ratio of
shareholders in LLP shall not be less than 50%
3 years – no amount is paid, either directly or
indirectly, to any partner out of balance of
accumulated profit standing in accounts of
company on date of conversion
Change in partners
◦ Section 187-188.
◦ Section 78
Section 2(22)(e)
◦ Loan or advance can be given to partners
◦ No restriction under any law.