Stamp duty on sale of

Jaspreet (Querist) 30 November 2015 This query is : Resolved

Is Stamp duty payable on :-

1. Sale of Business (Business having Immovable Asset)

2. If the above business is in the nature of LLP , Can the stamp duty be avoided by just change in composition of Partners (admission and retirement) ?

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kavksatyanarayana (Expert) 30 November 2015
as sale of business having immovable asset, it should be stamped under conveyance according the rates applicable to the state where the property is situated.

Rajendra K Goyal (Expert) 01 December 2015
Whether the property is the name of LLP?

How the constitution proposed to be changed?

Generally transfer of immovable property is through registered sale deed. Stamp duty differs from state to state.