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Discussion > Corporate Law > LLP >

Stamp duty on llp agreement

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Proprietor


[ Scorecard : 83]
Posted On 20 August 2012 at 10:35 Report Abuse

 

Can any one guide me what will be the stamp duty payable on the LLP Agreement. 
 
I was in impression that its same as per Partnership Agreement, so whatever we pay in case of partnership, we pay on LLP also.
 
But a senior CS told me that there is no separate entry for LLP Agreement in the stamp act, hence no specific stamp duty.
 
Please give your valuable guidance and experience.

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Member (Account Deleted)
Legal & Secretarial Exec


[ Scorecard : 2284]
Posted On 20 August 2012 at 14:57

Dear Viral,

 

LLP Agreement shall also be liable for stamp duty as per the Stamp Duty laws prescribed by the related State Government, where the said agreement will be executed.

 

Till the time the Stamp duty statutes of different states recognises the LLP agreement, the stamp duty payable on partnership deed therein, shall be payable on the LLP agreement.

 

Thus, your contention is correct.

 

Regards,

Veeral Gandhi

 

 



Total thanks : 1 times




vivek
self


[ Scorecard : 71]
Posted On 01 September 2012 at 12:22

for llp agreement stamp duty is 1% of the partners contribution maximum upto 5000




abhishek goyal
Company Secretary


[ Scorecard : 1531]
Posted On 19 September 2012 at 11:13

Yes, I agree with what Mr Veeral has said. As there is no specific entry for an LLP agreement in stamp law, stamp duty on LLP agreement is payable as prescribed by the respective state on partnership deed.




CA Kedar Sakhardande
Proprietor


[ Scorecard : 861]
Posted On 20 September 2012 at 10:49

Stamp duty on LLP agreement is 1% on the member's contribution

 

In case, there is an indemnity clause in LLP agreement there is additional stamp duty of Rs. 200/-

(there is no specific mention in the stamp act about LLP agreement)

 

regards

 




PARAMJIT SINGH
INVESTMENTS AND STOCK BROKING


[ Scorecard : 47]
Posted On 03 November 2012 at 14:03

Dear Veeral Gandhi,

I have a Querry regarding LLP. I want to incorporate the LLP for My Stock Broking Business (As a Member Broker With CSE).  I want my Registered Office at Chandigarh for SEBI Reg. purpose, and want to carry on my Broking business in Ludhiana, i.e at my home town. This is because higher stamp duty charged by punjab govt. on trading in securities as compare to Chandigarh.

kindly please let me know its procedure and applicability.

also if possible kinldy let me know about compliance details for same.

also guide me as above mentioned, if i incorporate a Pvt. Ltd Company

with regards

paramjit singh.

 

 



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