https://www.taxtmi.com/manuals?id=1875 Conversion of a private company or unlisted public company into a limited liability partnership is treated as a transaction not regarded as transfer for capital gains purposes, and the LLP takes the assets at the cost to the previous owner. The exemption applies only if all assets and liabilities vest in the LLP, all shareholders become partners in the same proportion, no other consideration is received, the former shareholders retain at least 50% profit-sharing for five years, the turnover and asset thresholds are satisfied, and accumulated profits are not distributed for three years. en-us Mon, 16 Sep 2019 10:13:00 +0530 Tue, 16 Jun 2026 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1875 Conversion of a private company or unlisted public company into a limited liability partnership is treated as a transaction not regarded as transfer for capital gains purposes, and the LLP takes the assets at the cost to the previous owner. The exemption applies only if all assets and liabilities vest in the LLP, all shareholders become partners in the same proportion, no other consideration is received, the former shareholders retain at least 50% profit-sharing for five years, the turnover and asset thresholds are satisfied, and accumulated profits are not distributed for three years. Manuals Income Tax Mon, 16 Sep 2019 10:13:00 +0530 https://www.taxtmi.com/manuals?id=1875