Regarding stamp duty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2012
Dear All,
A partnership firm business is takeover by the private company. i have made a deed to takeover the business
my query is - whether stamp duty/registration is required or it can be waived. the pvt co is already formed and it is taking over the business
the deed is executed in Mumbai
A partnership firm business is takeover by the private company. i have made a deed to takeover the business
my query is - whether stamp duty/registration is required or it can be waived. the pvt co is already formed and it is taking over the business
the deed is executed in Mumbai
03 January 2012
As per my view stamp duty depends upon the kinds of assets being transferred.
If Immovable assets are being transferred then Stamp Duty shall be payable but if Movable property are being transferred, no stamp duty shall be paid.
If Immovable assets are being transferred then Stamp Duty shall be payable but if Movable property are being transferred, no stamp duty shall be paid.
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2012
But acc to Bombay Stamp Act, Schedule 1 - Clause 25 relating to Conveyance Deed states that stamp due is payable on movables too rate is for every 500 - 15 rupees is applicable
03 January 2012
that is what u will have to check ur state law as stamp duty is a state matter..
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