Conversion of private company into llp

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 May 2015 sir,
Is stamp duty applicable in case of Tranfer of Business or Immovable Property of private company to LLP on conversion?

CS JAY GOHIL

CS JAY GOHIL (Expert)
Follow

06 May 2015 conversion is exempted from payment of stamp duty on immovable properties

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2015 Thank you sir for your response.

I have another question
whether a private company having turnover more than Rs. 60 Lacs convert into LLP?

if above conversion is possible, then how come capital gain tax is levied on the immovable property since capital gain tax is levied only on sale of an asset and not on transfer of an asset.??