Lex comply

    Re: Transfer of Property

    Posted By : Kamal / Published on : 04-Aug-2021 05:12 PM / View : 125 / Comment : 0
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    Dear friends

    One help needed...pls throw in your views on below case:

    A, B, C & D are owners of a property. now they want to transfer this property to a LLP were C& D are already partners

    Now in this case:
    1. Either all owners can transfer the property to LLP wherein stamp duty @5% of current value will have to be paid and all 4 owners get their corresponding share in LLP and later A& B will transfer their contribution to C&D.... in this case also i guess stamp duty will be again applicable

    2. A transfer his share of property to C by way of gift deed stamp duty @3% of current value and B transfer his share of property to D by way of transfer deed stamp duty @5% of their share of value of property and later C &D transfer property to LLP stamp duty again 5% of property

    Which is efficient option between 1 and 2

    Pls guide
    Read more on : property transfer

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