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CA Shraddha Vora (Employee)     21 January 2020

Stamp duty on slump sale

X  Pvt Ltd is willing to takeover an existing Sole proprietorship business of Mr Y , who is already a Shareholder and Director in  X Pvt Ltd .The transfer of business is via Slump Sale where X  Pvt ltd will takeover all the existing movable  assets ( There are no immovable assets in the books of Proprietary concern)  and all liabilities of the concerned business.
An agreement is to be entered between the two parties stating the terms and amounts pertaining to the transfer. 
Is this agreement of Slump Sale required to be registered? If yes, is  stamp duty payable on the same  and at what rate ?



 2 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     21 January 2020

An Agreement of Slump Sale on stamp duty of Rs.100/-  is sufficient.  Registration is not necessary.  

Rupin Dhama   22 January 2020

yes stamp duty is payable.

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