Stamp Duty on Slump Sale Agreement
This query is : Resolved
CA Shraddha Vora
(Querist)
21 January 2020
X Pvt Ltd in Maharashtra is willing to takeover an existing Sole proprietorship business of Mr Y . Mr Y is already a Shareholder and Director in X Pvt Ltd .The transfer of business is via Slump Sale where X Pvt ltd will takeover all the existing movable assets ( There are no immovable assets in the books of Proprietary concern) and all liabilities of the concerned business.
An agreement is to be entered between the two parties stating the terms and amounts pertaining to the transfer.
Is this agreement of Slump Sale required to be registered? If yes, is stamp duty payable on the same in Maharashtra and at what rate ?
An agreement is to be entered between the two parties stating the terms and amounts pertaining to the transfer.
Is this agreement of Slump Sale required to be registered? If yes, is stamp duty payable on the same in Maharashtra and at what rate ?
Amol S Joglekar
(Expert)
22 January 2020
Transfer of movable property is NOT required to be registered.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Applicability of tax on invoice
- IMS (import of goods) ITC related
- Advances to related party
- Form 144 TDS Return Validation Error – Mandatory Fields
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
