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Conversion of one year old company into LLP

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2010 In the recent budget it has been provided that a company willing to convert in to LLP will not be subject to capital gains tax if the turnover in the last preceeding 3 years in less than or equal to 60 lakhs. Can you please guide me whether the company which is just one year old will fall in this parameter of 3 years?Whether such company will be subject to capital gains tax?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 June 2010 Yes they will also.
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2010 thanx a lot
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