Avoiding Stamp Duty on sale of land?

This query is : Resolved

CA. Arul Mozhi Varman (Querist)
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18 August 2009 Objective:
A Company (H Ltd.) wants to sell a piece of land to Mr. X by avoiding stamp duty.

Strategy:

1.Have a Demerger and separate the land to S Ltd.
2.Purchase consideration - shares of S Ltd. to H Ltd.
3.S Ltd. becomes a 100% subsidiary of H Ltd.
4.Transfer the shares of S Ltd. to Mr. X from H Ltd.

Assumption:

All the companies are private companies.

Advice required:

1. What are all the legal intricacies from Income Tax Act and Companies Act in this case

2. Is the strategy ok ?

Kindly suggest.

thanks in advance,
Arul.

geet verma

geet verma (Querist)
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18 August 2009 a company wants to increase its authorised capital from 1 lac to 1 crore.wat will be the final fees payable to registrar.

Ankur Garg

Ankur Garg (Expert)
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18 August 2009 Hi Geet,

Roc fee applicable in your case is Rs. 1,52,000.

PLease find below the link of ROC fee calculator:

https://mca.gov.in/DCAPortalWeb/dca/enquireFeeActionWithoutLogin.do?method=NoneFormFeeSelection&sessioncheck=yes

Select form-5 and proceed...

Regards

Ankur Garg

Ankur Garg (Expert)
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Ankur Garg

Ankur Garg (Expert)
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21 August 2009 If you find any problem please let me know.

Jagruti (CS)

Jagruti (CS) (Expert)
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20 September 2009 Roc fee applicable in your case is Rs. 1,52,000.

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