Stamp Duty

Dear Friends,


Two individuals namely 'X' and 'Y' want to incorporate a Limited Liability Partnership. They are having considerable amount of immovable property in their name, which they want to transfer to LLP. 

They are of the opinion that there is no Stamp Duty for such transfer.

Now my question is:

  1. Is there any Stamp duty for such transfer of property?
  2. If so at what rate?
Kindly express your views.


Thanks and Regards
VINAY B L
Replies (2)

The Stamp duty on such transfer  of property shall be applicable since  the same will be treated as transfer.

The rate of stamp duty will be as per the respective State Stamp Duty based on the location of such properties as applicable on conveyance deed.

Regards

CS Ashwini Kumar

Agree with Mr Ashiwini answer.

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