Asset cost on company-to-LLP conversion: acquiring LLP takes written-down value as its actual cost upon conversion. Where a private company or unlisted public company transfers a block of assets to a limited liability partnership and the conversion conditions are ... Summary
Asset cost on company-to-LLP conversion: acquiring LLP takes written-down value as its actual cost upon conversion.
Where a private company or unlisted public company transfers a block of assets to a limited liability partnership and the conversion conditions are satisfied, the limited liability partnership's actual cost of the block shall be the written down value of the block as in the company on the date of conversion.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.