TO CHANGE OWNERS NAME from Partner ship firm name to Private Ltd.Company.

This query is : Resolved

swamy (Querist)
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21 February 2023 Partnership firm converted into Private limited company during 2010.But one immovable property (office /godown/manufacturing unit) documents still showing "Partner ship" firm name. All these years Converted Pvt. Ltd. Company operating in this premises only. No change in registred address .Claiming depreciation also .Same partners now working as Directors. Now what is the procedure to change owners name from Partner ship firm name to private limited company's name in the property documents? Fresh registration? GST payable?.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 February 2023 No Stamp Duty
All movable and immovable properties of the firm automatically vest in the Company. No instrument of transfer is required to be executed and hence no stamp duty is required to be paid.

No Capital Gain Tax
No Capital Gains tax shall be charged on transfer of property from Partnership firm to Company.

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TO CHANGE OWNERS NAME from Partner ship firm name to Private Ltd.Company.

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