Transfer of land held as stock in trade
Vipin Kumra
(Querist) 07 September 2012
This query is : Resolved
will stamp duty be payable in case stock in hand (i.e. LAND) is transferred in the following cases.
A) Transfer by a holding co. to its 100% subsidiary
B) Conversion of the above 100% subsidiary to LLP.
Please do reply asap.
Thank You.
Sailesh Kumar Shah
(Expert) 08 September 2012
A) Transfer by a holding co. to its 100% subsidiary
Answer: There is no stamp duty, In case where the transfer takes place between a parent company and a subsidiary company one of which is beneficial owner of not less than 90 per cent of the issued share capital of other.
B) Conversion of the above 100% subsidiary to LLP.
Answer: Subject to applicability of Indian Stamp Act at that State.
So far as, if it about Uttar pradesh, there is no stamp duty on such transfer.
