What will be stamp duty payable in case of transfer of immovable property, which was in name of partnership firm and now the firm has been converted to company under Part IX of the Companies Act, 1956
Menu
Stamp duty in case of conversion of partnership into company
Replies (1)
In Vali Pattabhiram Roa v Shri Ramaniya Ginnning &Rice Factory (P) Ltd. (1986) 60 Comp cas 568 (AP), the Court has held that there is no transfer under general law if the constitution of the firm is changed in to that of company by registering it under part IX of the Companies Act, as there shall be statutory vesting of title of all the properties of the firm in the newly incorporated company without any need for a separate conveyance, section 5 of the Transfer of Property Act is not attracted, even stamp duty is not leviable
Recent Threads
- Property purchase by parents
- Section 54f and Sale between father and Son.
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
- Amt of LTCG required to be reinvested on house pro
Related Threads
CAclubindia
