Stamp duty on immovable property transferred by a partner
This query is : Resolved
04 March 2014
Dear Sir/Madam,
Mr. A transferred his own property to partnership firm in which he having 60% share. as per sec 45(3) he has to compute & pay the capital gain.
Query:-
whether firm is liable to pay stamp duty on the market value of the asset or stamp duty has to pay on the other partners share in firm (40%) only.
please clarify
Mr. A transferred his own property to partnership firm in which he having 60% share. as per sec 45(3) he has to compute & pay the capital gain.
Query:-
whether firm is liable to pay stamp duty on the market value of the asset or stamp duty has to pay on the other partners share in firm (40%) only.
please clarify
04 March 2014
Stamp duty has to be paid on the circle rate to be determined by the registrar..
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