Stamp duty

Sumit Shingala (Querist) 06 June 2013 This query is : Resolved
a proprietorship concern (not having any immovable property), is selling all of its assets and liabilities, including book-debts to a company in which the proprietor is director and shareholder...?

how shall stamp duty be worked out ??

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Amritesh Mishra (Expert) 07 June 2013
purchase consideration will determine the value of stamp duty. As in your case there is sale of sole proprietorship concern to a company and owner of sole proprietorship concern is one of the director of the purchasing company, so provisions of section 299,300, and 301 of companies Act,1956, should be complied with.

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