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?
Is stamp duty applicable in case of Tranfer of Business or Immovable Property of private company to LLP on conversion?
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.??
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.??
06 May 2015
No capital gain incurred in this case
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