Conversion of Private company or Unlisted public company to LLP - (New) Section 70(1)(ze) / (Old) Section 47(xiiib)

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.... transfer Transferor Transferee Capital asset involved What is the cost in the hands of transferee  70(1)(ze) Transfer of a capital asset or intangible asset by a private company or unlisted public company (herein referred to as the company) to a limited liability partnership or transfer of a share or shares held in the company by a shareholder as a result of conver....

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....ng ratio in the limited liability partnership are in the same proportion as their shareholding in the company on the date of conversion; • (iii) the shareholders of the company do not receive any consideration or benefit, directly or indirectly, other than by way of share in profit and capital contribution in the limited liability partnership; • (iv) the aggregate of the ....

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....conversion for three years from the date of conversion; Under Section 47(xiiib) of the Income Tax Act, 1961 [ Upto 31.03.2026 ] Section Transaction not regarded as transfer Transferor Transferee Capital asset involved What is the cost in the hands of transferee  47(xiiib)   Any transfer of a capital asset or intangible asset by a private company....

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....ership. • All the shareholders of the company immediately before the conversion become the partners of the limited liability partnership and their capital contribution and profit sharing ratio in the limited liability partnership are in the same proportion as their shareholding in the company on the date of conversion • The shareholders of the company do not receive any c....