P.ANNAPURNA 03 January 2020
Akshay (Advocate) 29 January 2020
Hii,
Yes, you are right here No Stamp Duty is required to be paid because all movable and immovable properties of the firm automatically vest in the Company.
P.ANNAPURNA 29 January 2020
Akshay (Advocate) 29 January 2020
As per section 2(42C) of Income -tax Act 1961, 'slump sale' means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales.