Stamp duty

THIS IS THE CASE OF TRANSFER OF CAPITAL ASSET FROM INDIVISUAL TO FIRM AND SO THE LAND WILL BE VALUED AT THE PRICE RECORDED IN THE BOOKS OF FIRM.

SINCE THIS ASSET WILL BE RECORDED IN THE BOOKS OF FIRM,STAMP DUTY HAS TO BE PAID BY FIRM.

firms is liable to pay stamp duty on the circle rate value of land which is being transferred to firm

but on the other hand if we see practically we can say that capital contribution is

market value of land - cost incurred in transfer of land .