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Partnership

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MANAGER

[ Scorecard : 30]
Posted On 08 May 2012 at 19:06 Report Abuse

Hello There
Currently we are running Proprietory concern where my father is a sole proprietor. Now we decided to convert this proprietory firm in to a partnership firm where My father, me and my younger brother is a going to be a partners. Now my question is, Does assets in the proprietory firm will attract any stamp duty or taxation while transferring that assets to partnership firm?

 

Thanks

Vasant



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