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Home / What's New / Conversion of Company into LLP is now exempt from Capital Gain

What's New

Conversion of Company into LLP is now exempt from Capital Gain
 

As per the Union Budget 2010-11, the conversion of the exiting private limited companies and unlisted public limited companies into LLP will be exmept from the provisions of the capital gain , if the specified conditions are complied with. Moreover, post conversion , LLP will also be allowed to carry forward the accumultaed profit & losses and unabsorbed depreciaition of the previous year under the Income Tax Act. 

 

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