Stamp duty on business transfer agreement
Abdul Latif
(Querist) 24 April 2013
This query is : Resolved
Dear Sir,
We the company are acquiring the Assets and Liablitis of one Proprietorship Firm by entering into Business Transfer Agreement. Under this Agreement, All Assets and Liablitis of Proprietorship Firm will be transferred to the Company on the Particular Date. We will pay lum sum payment of Rs. 1.5 Crores for all assets and liablities. Assets does not include any land and building. However It includes Plant and Machinery, Furniture,Inventory, Trade Name, Brand Name etc. Further all employee of the Prop.Firm will be our employee after the Particular date.
How much Stamp Duty is required to be paid on this Transaction. The Transaction is to be made in Maharashtra.
Please advise.
R.K Nanda
(Expert) 24 April 2013
different in all states.