Switch over from Company to LLP

[Jasbir Uppal]

Dear Professionals

I have following queries :-

1) The conversion of private limited company to LLP, what will be the tax implications?

2) How to transfer assets and liabilities from company to LLP?

3) Implication of stamp duty on transfer of assets from company to LLP?

Thanks & Regards

J S Uppal

Tax Consultant

AI Summary

Converting Private Limited Company to LLP: Tax Implications, Asset Transfer, and Stamp Duty Considerations A user inquired about the conversion of a private limited company to a Limited Liability Partnership (LLP), specifically regarding tax implications, the process of transferring assets and liabilities, and the impact of stamp duty on asset transfers. A respondent advised that these matters require detailed discussion and recommended consulting with professionals for comprehensive guidance.