leavy of stamp duty having partnership firm

Querist : Anonymous (Querist) 16 May 2011 This query is : Resolved
partnership firm having 9 partners.firm build a commercial complex, when the partnership firm disolved, then property is transfer of all each partners, so what is the stamp duty rate?

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adv.rajendrasharma (Expert) 16 May 2011
in the above case stamp duty depends upon where the property is situated genrally stamp duty is levied & collected by state govt. for any doubt coolecter of stamps adjudicates exact stamp duty is payable if reference application is filed with authority for determination of stamp duty

R.Ramachandran (Expert) 16 May 2011
In this case, I do not think that there will be any stamp duty. This is because, no 'transfer of property' is taking place. In fact, it is like partition. The partners are getting their own share. Therefore, in my view, there will be no incidence of any stamp duty.

Guest (Expert) 17 May 2011
I think there is a point in Mr. Ramachandran's opinion. It is a sort of a case of distribution of shares amongs parting partners on dissolution of a firm.

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