I am one of the partner in partnership firm which has one godown (income generated thr' rent )
In last 15 years there had been changes in partnership thrice
with in coming and out going partners. Now the firm is proprietorship with sole owner as self
though the changes were made with each incoming or outgoing partner no action was
taken as regards tax implication such as stamp duty or registration etc.
Now I wish to sell the property (Godown). Society has objected/declined for transfer of
property in favour of buyer for reason - submit proof of stamp duty paid for each change in
partnership deed. Now my question is (1) Am I liable to pay any stamp duty or registration fee etc
If so How much (2) what is the correct procedure / method for regularisation with minimum liability so that
I can sell the property and get it transfered to buyer )
CAclubindia
