can a company hold proprietary firm

Querist : Anonymous (Querist) 15 June 2011 This query is : Resolved
In X unregistered partnership firm having 2 partners and 1 immovable property vested in the name of firm, 1 partner retired at will and simultaneously a company was introduced as a partner and the firm was now registered with ROF.

Now the other partner wish to retire at will, in this situation can a company hold the firm as a proprietary or how do we vest the property of the firm in the name of the company?

kindly guide the stamp duty and income tax implications.

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