Partner capital
This query is : Resolved
25 November 2013
Dear Expert,
A partner has an immovable property in his name. He wishes to use it in the partnership business. Is it possible to introduce this property in the firm’s books by crediting his capital account without transfer of title deeds in the firm’s name to avoid stamp duty?
Request your opinion on the same.
A partner has an immovable property in his name. He wishes to use it in the partnership business. Is it possible to introduce this property in the firm’s books by crediting his capital account without transfer of title deeds in the firm’s name to avoid stamp duty?
Request your opinion on the same.
CA PARAS BAFNA
(Expert)
25 November 2013
Yes, it can be done so.
.
.
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