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

[DR.MARIAPPAN GOVINDARAJAN]

It will require elaborate discussion. Kindly have a discussion with professionals.

AI Summary

Conversion of private company to LLP raises tax, asset/liability transfer and stamp duty issues; seek professional advice.
Conversion of a private limited company into an LLP raises tax implications, legal mechanisms for transfer of assets and liabilities, and stamp duty consequences; the reply advises that these matters require an elaborate, case-specific discussion with qualified professionals and does not provide definitive procedural or tax guidance.