Avoiding Stamp Duty on sale of land?
This query is : Resolved
CA. Arul Mozhi Varman
(Querist)
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.
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
(Querist)
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
(Expert)
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
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
(Expert)
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
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
(Expert)
21 August 2009
If you find any problem please let me know.
Jagruti (CS)
(Expert)
20 September 2009
Roc fee applicable in your case is Rs. 1,52,000.
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