Month: August 2009

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.

If you are a tax professional, you must sign up for our free newsletter. Why? Because we keep you informed about the latest developments in the world of tax. We focus only on the most important must-read judgements & articles that will impact your day-to-day professional work. You can see a chronological listing of all our postings on twitter & facebook

IMPORTANT: After signing up & clicking on the confirmation mail, send a test/ blank mail to Why? Because it is the easiest way to add our email address to your address/ contacts book and ensure that our Newsletter does not get sent to the Spam/ Junk folder