Business acquisition
Saurabh Verma
(Querist) 05 July 2014
This query is : Resolved
Dear Ma'am/ Sir,
We are purchasing a running business from a private Ltd. company and the company is defalter in service tax, ROC & Income tax Act.
Therefore we have changed the nomenclature of transaction;
WE have taken a bill of Movable tangible assets on Letter Head of Company and signing a SALE DEED for purchasing Brand Name of the Business and restricting the company for not doing same kind of business with the same name in future.
Hence my query is:
1. Whether we can sign sale deed for purchasing Brand Name or Not?
2. Is Brand Name covered in the Definition of Property since there is any definition of Property in "Transfer of Property Act"?
3. How Much Stamp Duty will be levied for sale deed if Consideration paid for Brand is Rs. 125000?
4. And, Is registration of Deed with the registrar is compulsory?
Please Advice... :)
Rajendra K Goyal
(Expert) 05 July 2014
Consult some senior lawyer dealing in the field and show him all the documents.
V R SHROFF
(Expert) 06 July 2014
commercial query.........
T. Kalaiselvan, Advocate
(Expert) 07 July 2014
A consultation with some expert local consultant will provide you a proper solution and idea about moving further in this issue.
Sunil S Nair
(Expert) 07 July 2014
Brand name comes under intellectual property not transfer of property
Saurabh Verma
(Querist) 09 July 2014
I think this web site has been created for moving the users towards lawyers not for providing suggestion to the users like study circule or CACLUBINDIA, CACLUB or Tax Guru etc.
I know this very well that it should be discusssed with the consultant but i don't know why i have posted this on this type of web site when i am getting such replies. No buddy knows here the meaning of study group / study circle.
And finally it is not a commercial query since no one is asking for prepration of any document or making any deed. It was just a request for suggestion and by seeing your valuable suggestion i think i have wasted my 10 mins
Thanks to all
Sunil S Nair
(Expert) 09 July 2014
This forum was created for those who really need help not those who post their queries seek help and give reply like what you have stated you take credit for replies given by us in your business field,,
Any way thanks to you for giving respect in such indecent manner
Saurabh Verma
(Querist) 09 July 2014
Sorry Sunil S Nair,
I am very much certified with your answer and seriously you have tried your best but I have addressed that reply to those who have given reply like "go to the consultant" & "commercial query".
I don't know in what manner they are interpreting this as a commercial query and if it is a commercial query then what is genuine query according to them.
As a study circle friend, they should give their best suggestion.
Also if a person getting any problem in any field then he will think to take help of these sites otherwise these are not sites like face book where we can do time pass.
And no one can judge by query that the help seeker is asking help for his businee or profession or for his domestic purpose.
Sorry once again Mr. Nair if I have hurt you.
Good Bye
