There is no clarity on the payment of stamp duty. In the past 15 years, the device of converting firms into a limited company under Part IX of the Companies Act has been resorted to. The courts have held that there is no transfer on such conversion and stamp duty is not payable.
The High Courts of Andhra Pradesh, Calcutta and Bombay have uniformly taken the view that stamp duty is not payable when a firm is converted into a company under Part IX of the Companies Act.
04 March 2010
Thank you so much for the reply. But m case is not conversion. It is newly formed LLP and for that i need to know the stamp duty payable. If you know then please advise.
CAclubindia
