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.??

CS JAY GOHIL

CS JAY GOHIL (Expert)
Follow

06 May 2015 No capital gain incurred in this case

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Jayanti Visani

Sreekumar J Pai

damodara rao tedla

CA K GIRIDHAR

UPENDRAN YADAV

Subscribe Now

Conversion of private company into llp

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA