STAMP DUTY ON TRANSFER OF IMMOVABLE PROPERTY ON CONVERSION OF COMPANY INTO LLP

[deepak gulati]

WE ARE CONVERTING A PRIVATE LIMITED COMPANY IN TO LLP.THE COMPANY OWNS A IMMOVABLE PROPERTY.PLEASE TELL WEATHER THE IMMOVABLE PROPERTY IS REQUIRED TO RE-REGISTER IN THE NAME OF LLP BY PAYING STAMP DUTY

AI Summary

Conversion to LLP: immovable property vests by operation of law, avoiding need for fresh transfer or stamp duty.
Conversion of a company into an LLP effects automatic vesting of all movable and immovable property, assets, rights and liabilities in the LLP without further assurance, act or deed, so no instrument of transfer is required and no stamp duty or fresh registration arises from that vesting.