Transfer fees on transfer of property from p'ship firm to all partners

Querist : Anonymous (Querist) 15 May 2011 This query is : Resolved
Partnersheep firm having 9 partners has developed one commercial complex wants to transfer one of the 100 shops developed in name of each indevidual in the profit sharing ratio.

Kindly advice the rate of stamp duty?

Is there any concessional rate applicable on such type of transfer?

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Guest (Expert) 16 May 2011
rate of stamp duty is depend upon the concerned states guideline value and market value. check it out

R.Ramachandran (Expert) 16 May 2011
There is no sort of any concessional rate of stamp duty, in such cases.

Guest (Expert) 16 May 2011
Market value of the shop, or at least the ratable minimum value, as would have been prescribed by the local civic authorities, would prevail.

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