LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Transfer of immovable property at the time of Wind up

Shabnam Siddiqui (Company Secretary) (152 Points)

13 December 2010

At the time of wind up the company is going to transfer its immovable property to shareholder. Does it require registration of title deeds of immovable property in the name of shareholder under Registration Act, 1908 and will be liable for Stamp Duty??

Reply
Follow
Share

6 Replies

SUNIL KUMAR JAIN (PRACTISING COMPANY SECRETARY) (187 Points)
Replied 17 December 2010

Dear Friend,

Please note that for transfer of immovable property by a Company under Liquidation, title deed of immovable property in the name of shareholder under Registration Act, 1908 is required tobe registered and it will be liable for Stamp Duty.

On behalf of the company such Deed would be signed by the liquidator.

It may be informed that I am the Liquidator for a few companies under Voluntry Liquidation.

Regards,

Sunil K. Jain

Practising Company Secretary

9810104162: skj13 @ rediffmail.com

Dhiraj Bagri (Manager - Finance & Accounts) (174 Points)
Replied 28 October 2011

Dear Sir,

Can you cite any reference like case laws or section which can substantiate the applicability of stamp duty on distribution of immovable property at the time of liquidation.

Thanking you

Dhiraj Bagri

SkDash (CS (Member) CWA (Final)) (909 Points)
Replied 28 October 2011

Dhiraj- transfer under liquidation has the same effect as trnasfer in normal course and attracts the same law, fee and procedure as applicable normally. You can refer the regn act and stamp act for the same. Correctly mentioned by Sunil sir that since all the assets adn liab are in the hands of liquidator, so it need to be signed by him on behalf of the co.

vibhu gautam (student) (48 Points)
Replied 10 March 2016

a seperate conveyance deed is required to be executed or courts' order will be considerered as conveyance deed as in case of amalgamation

Parveen Kumar (head finance) (22 Points)
Replied 15 September 2021

Dear can u pl advise .As per section 45 &46 ,no capital gains is applicable in such transfer.so stamp duty should not be applicable.Further if stamp duty is payable what then at what rate current or when the company acquired as there is no sale.parveen

Divya jain (31 Points)
Replied 06 January 2023

The petition for winding up of LLP could be filed with the tribunal by the LLP itself, after the LLP Process To Wind Up The company no longer to be continue.