Purchasing property from a defalter company
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
repeated query:
http://www.lawyersclubindia.com/experts/Business-acquisition--482221.asp#.U7f-lLFKqsx
R.K Nanda
(Expert) 05 July 2014
repeated query.
T. Kalaiselvan, Advocate
(Expert) 07 July 2014
query repeated. A proper opinion was rendered to the same query repeated in another thread.
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
