– without the allocation of values to each asset and the responsibility for such a sale, the definition of „transportation“ does not distinguish between personal property and real estate under the Indian Stamp Act. Goods can be sold by delivery to the buyer upon receipt of the price without actual transport, but if a written transport is carried out, it is taxable as such. Intangibles, such as commercial or commercial debt or overvalue, must necessarily be transferred to the written instrument and diverted as transport and transfer. While land/buildings are real estate, machines installed in a factory site (fixed to the ground) can be considered land based on the extent and durability of the facility, as well as the purpose of installing and fixing the machine. For example, the sale of a fertilizer facility as part of a burglary would be considered land, alongside land and building land, if the intention was always that the facility would remain permanently fixed to the land and the building transferred. Section 25 of the BS Act imposes stamp duty, which must be paid on a deed of transport relating to personal property and/or buildings. However, the BS Act expressly provides that when an agreement to sell a property results in the transfer of ownership of that property before or after the execution, the same applies as a right of transport and stamp duty. The BS act also provides an exception in the event that the „sale agreement“ is considered transport. When the BTA itself transfers the property and real estate that make up the business, which results in the document being duly stamped as transport in accordance with Section 25 of the BS Act, the stamp duty paid on that agreement is appropriate for the total stamp duty levied on the deed of transport. If the seller is required to transfer 20% of the company`s net assets, the seller must pay a special decision to its shareholders confirming a transaction under Section 180 of the Companies Act 2013, which applies to both the sale of assets and the sale of assets.
It is common practice for a BTA to be structured as a „sale agreement.“ In such cases, the agreement provides a general framework under which the company is transferred to the reference date. The BTA as such cannot contemplate any transfer and require the completion of a „promotional act“ [see end note 5] on or before the completion date of the transfer. However, there are cases in which the agreement contains recitals concerning the payment of the consideration, the transfer of the property to the property and the remittances of those assets. In such cases, the BTA is the colour of a „transportation“ and stamp duty is levied accordingly. Slump Sale is simply defined as a sale that does not give any particular value to a company`s assets and liabilities. It is known as a going-concern transfer or an as-is transfer. In the case of a losing company that preferred business losses, a retail business transfer could be better, since the resulting business profits can be offset by anticipated business losses, the resulting reduction in its tax debt Articles explained Provisions of the Slump Sale under the Corporations Act, 2013 and the Income Tax Act 1961.