conversion of Pvt. Ltd to LLP, Other Topics

[kamal mall]

Resp. Professionals,

 

​Below mentioned point is one of the essential requirement for Tax exemption of conversion of Company to LLP.

 

·       The aggregate of profit sharing ration of Pvt Ltd shareholders shall not be less than 50 percent in next 5 years

And my query is 

Query: If out of 10 shareholders, 4 are resigned later on but profit sharing remains same among continuing 6 partners, is it in compliance of above clause ?

Posts / Replies

[kamal mall]

NOT YET SIR. PLS GIVE UR OPINION.