Uttar pradesh stamp duty on court order for merger
Pankaj Khodaskar
(Querist) 10 October 2012
This query is : Resolved
If a 100% subsidiary is merged with its parent through court process, whether stamp duty is payable on such merger order (both the companies are in uttar pradesh)?
It is possible to take benefit of Notification No. 1 dated January 16, 1937, issued by the Finance Department,
Central Board of Revenue. The said notificaiton provided for remission of stamp duty chargeable on instruments evidencing transfer of property in cases, where the transfer of properties is between a parent company and its ubsidiary company, where the transferor is the
beneficial owner of not less than 90% of the issued share capital of the transferee or vice-versa.
This Notification stands withdrawn in Delhi vide notification number No.
F.l( 423 )/Regn.Br./HQ/Div.Com./lO/ 266 dated 1 st June, 2011
Pankaj Khodaskar
(Querist) 10 October 2012
Yes, there is immovable property in transferor company.
