Hi , I purchased 50% shares of a pvt ltd company in April 2017 for Rs. 50,000 as Share Purchase & Rs.5,00,000 as premium on/for purchase of shares .
That company was just converted to a LLP in March 2023 .
While Filing my personal returns my accountant told me that Rs.50,000 will be transfered to Partner's Fund/Capital AC from Share Capital but the Amount of Rs.5,00,000/- i.e premium on/for purchase of shares will become a capital loss for me .
Is there any other treatement for this in case I wish to sell my share in partnership at a higher premium in future ; in short want to avoid capital loss .
CAclubindia
