LLP Wants to convert in Private Limited Company . Losses Incurred Till Now From Incorporation are transferred to Fluctuating capital of Designated partner .But Now LLP Wants To Transfer Losses of Current year as well as past years To Reserve and Surplus account and thereby carry forward To Private Limited Company books .
Can it be done or Any specific clause are available ?
Advantages of LLP Conversion into Company: 1. No capital gain tax. 2. Carry forward of unabsorbed losses and depreciation. 3. Continuation of Brand Value. 4. Existing LLP is replaced as a private limited company.
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