Legal Question in Business Law in India

In an ordinary partnership (not LLP) where the partners are contributing land, is it necessary to pay stamp duty & legally convey/transfer the land to the partnership firm?
Or can the land contribution simply be mentioned in the partnership deed without having to pay transfer charges and without recording the mutation with the land registrar?
As per law an ordinary partnership is not a separate legal entity, so it doesn't seem to make sense to bear such large upfront costs. The partnership is among family members. Thanks

Asked on 9/12/11, 7:21 am

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stamp charges need to be paid by the firm.

Answered on 9/12/11, 7:22 am

Sanjay Kalra Sanjay Kalra & Associates

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Yes you can have both ways by avoiding to pay stamp duty on the transfer charges etc.

Answered on 9/12/11, 7:26 am

KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

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yes u may avoid so

Answered on 9/16/11, 1:54 am

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