if the partnership firm is converted into company & all its assets & liablity is transfered to company & all the partner of the firm is been the shareholder of the company, then what is the tax treatement of the firm in regard of capital gain.
1 Replies
Amir
(Learner)
(4016 Points)
Replied 14 April 2010
HI Pradeep,
The transfer of assets in such a case is exempt on fulfilment of certain conditions in terms of Sec 47......
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