Stamp Duty

Srijeyaraj (Querist) 14 November 2009 This query is : Resolved
Dear seniors,
There is a partnership deed between X Pvt Ltd company and two individuals and they have formed a FIRM. The X Pvt Ltd company transferred some of it's property (moveable & Immoveabel) in favour of the FIRM vide a Board Resolution. And the other two individuals also transferred some of their properties (moveable)in favour of the FIRM.
1.Whether the transfer by the X pvt ltd (one of the partner) would attract Stamp Duty and registration?
2. Whether the transfer by the individual partners would attract Stamp Duty and registration?
Thanks in advance

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adv. rajeev ( rajoo ) (Expert) 14 November 2009
Yes definately because as if it is sale.

adv. rajeev ( rajoo ) (Expert) 14 November 2009
Transfer of immovable property is compulsorily registrable document. It attracts stamp duty.

Raj Kumar Makkad (Expert) 15 November 2009
If the ownership of the immovable properties is to be changed then no other way but to levy stamp duty and got it registered.

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