subodh bonde 15 August 2023
We have converted from proprietary firm to pvt ltd with proprietor being the major share holder in pvt ltd company. Midc land belonging to the proprietor in navi mumbai maharahstra has now been transferred from proprietor to pvt ltd company in which he owns majority stake. Please confirm if stamp duty is payable and how to register our deed of assignment.
kavksatyanarayana (subregistrar/supdt.(retired)) 15 August 2023
All movable and immovable properties of the firm automatically vest in the Company. No instrument of transfer is required to be executed and hence no stamp duty is required to be paid.
subodh bonde 15 August 2023
Thank you for your reply sir. Can you please let me know how to register the said deed of assignment without paying stamp duty? what is the process to be followed at the registrar office thane maharashtra? What is the provision for paying nil stamp duty in this case and how do we go about it?
Is there any specific provision / legal order/act which will help us in the same?
T. Kalaiselvan, Advocate (Advocate) 15 August 2023
The law has been explained to you properly by the expert above.
On further issues you can take the assistance from a local lawyer
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