Stamp Duty on Conversion of Partnership firm to Company

To clarify, you're asking about the stamp duty applicability when converting a partnership firm to a private limited company, specifically regarding two properties owned by the firm and a partner.

 Stamp Duty Applicability When converting a partnership firm to a private limited company:

 1. _No instrument required_: As you mentioned, many articles suggest that no stamp duty is applicable since no instrument is required to be executed for the transfer of properties.

2. _Transfer of properties_: However, to reflect the change in ownership, you'll need to execute a deed of assignment or transfer in favor of the proposed company.

Solution to the Issue To solve this issue: 1. _Execute a deed of assignment_: Prepare and execute a deed of assignment or transfer in favor of the proposed company for both properties.

 2. _Pay stamp duty_: Pay the applicable stamp duty on the deed of assignment or transfer.

3. _Register the deed_: Register the deed of assignment or transfer with the relevant authorities to reflect the change in ownership.

4. _Update property records_: Update the property records, including the title deed and property tax documents, to reflect the new ownership in the name of the proposed company.

 Important Considerations 1. _Consult a lawyer_: Engage a lawyer to prepare and review the deed of assignment or transfer to ensure compliance with applicable laws and regulations.

 2. _Determine stamp duty liability_: Consult with a tax professional or lawyer to determine the applicable stamp duty liability for the transfer of properties.

3. _Comply with regulatory requirements_: Ensure compliance with all regulatory requirements, including those related to property registration and taxation.

By executing a deed of assignment or transfer, paying stamp duty, and registering the deed, you can ensure a smooth transfer of properties to the proposed company.