Dear Sir/ Madam
Can a Proprietorship Business be converted into an LLP??
If yes, will it attract Capital Gain ?
1 Replies
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 08 February 2015
Yes
There is no Business Restructuring procedure for conversion of sole proprietary business into LLP.
To avoid the capital gain it is advisible to convert your sole proprietary business into company.
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