Stamp duty on land-change of partnership in gujarat
Mudra Sachin
(Querist) 10 March 2013
This query is : Resolved
Dear All,
My Client has very frequent changes in his partnership firm as regards to admission and retirement of partners, he needs to know that whether he got to pay stamp duty on land each and everytime ?
prabhakar singh
(Expert) 10 March 2013
Your query is not well spoken about.
Any way so long the retirement is not causing dissolution of existing firm and admission is not causing a fresh constitution of a new firm and the same firm continues to run he is not obliged to pay stamp duty for the firm property each time a partner retires or a new partner is inducted because properties always belong to partnership and partners can not claim partition of those properties but only profit or loss as their agreed share in the business of the firm.
