https://www.taxtmi.com/forum/issue?id=5277 To obtain capital gain exemption on succession of a sole proprietorship by a company, all business assets and liabilities immediately before succession must become the company's assets and liabilities; the proprietor must hold not less than fifty percent of total voting power and retain that shareholding for five years; and the proprietor must receive no consideration or benefit other than allotment of shares. The closing stock of land must be included among transferred assets to satisfy the conditions. en-us Tue, 05 Feb 2013 22:02:26 +0530 Thu, 23 Jan 2025 15:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=5277 To obtain capital gain exemption on succession of a sole proprietorship by a company, all business assets and liabilities immediately before succession must become the company's assets and liabilities; the proprietor must hold not less than fifty percent of total voting power and retain that shareholding for five years; and the proprietor must receive no consideration or benefit other than allotment of shares. The closing stock of land must be included among transferred assets to satisfy the conditions. Discussion-Forum Income Tax Tue, 05 Feb 2013 22:02:26 +0530 https://www.taxtmi.com/forum/issue?id=5277