Hello everybody,
My question is regarding the payment of stamp duty.
I have purchased the land of Rs. 4 Crores in Partnership Firm. Now, The partnership firm is converted into LLP i.e. Limited Liability Partnership. Now the new LLP has a seperate legal entity as per the LLP Act. So, whether stamp duty is payable on the land after conversion of partnership into LLP?
And if payable what type of it is? i.e. whether Ad-Valorem or something else?
