Month: August 2009

Section 56 [2][vii] and Limited Liability Partnership: New Controversies!

The author uses strong logic to make two controversial arguments. One, that the amount taxed under the new s. 56 [2][vii] can be treated as cost of asset acquired in computation of business income and second, that the conversion of a firm into a LLP under the Limited Liability Partnership Act 2008 does not attract capital gains liability.

Posted in Articles

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