Stamp duty on cash paid to partner on his retirement

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69 Points Posted on 31 December 2014
As per Andhra pradesh (A.P) stamp rates
is stamp duty is  required to paid on capital withdrawn by partner on his retirement in following cases:
1) if capital is paid entirely in cash only
2) if sum immovable property is given to partner as a capital repayment
 
what is the stamp duty rate as a % on the above cases.
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On 31 December 2014 at 16:56 Report
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58 Points Posted on 01 January 2015

1. Capital cant be rapaid in cash because it attracts violation of sec. 269T and 269SS of IT ACt.

 

2. If any immovable property is given to retiring partner, then standard stamp duty rates on transfer of immovable property in any state are applicable.

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On 01 January 2015 at 10:41

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