Sec. 48 of the Act deals with the methodology to compute capital gains. Section 48 provides that the income chargeable under the head “Capital gains” shall be computed, by deducting cost of acquisition/improvement and expenditure incurred wholly and exclusively in connection with transfer from the full value of the consideration received or accruing as a […]
SECTION 47(xiiib) – TAX IMPLICATIONS OF CONVERSION OF COMPANY INTO LLP
Sec 56 of the LLP Act provides for conversion from private limited company into limited liability partnership. Third schedule of the LLP Act deals with procedure and effect of conversion of private limited company into LLP. On conversion, whole of the undertaking of the company shall be transferred to and shall vest in the limited […]