Capital rs.3,00,000/-

This query is : Resolved

haneefbengre (Querist)
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20 March 2015 Respected,,

what should be the value of stamp paper of a Partnership Deed on Capital Rs.3,00,000/-

Kindly reply the sam.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 March 2015 better u make it on rs 1000 only..........

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 March 2015 Tushar Ji it is my request to you to reply only if you have the appropriate knowledge in the matter. Please don't misguide.

If you make on Rs 1000/- stamp paper you may either be in default or end up paying higher stamp duty. To avoid this it is advisable to Check out the Stamp Duty rate prevailing in your state. Like in West Bengal the rate are as under:

Partnership Capital
(a)Up to Rs.500/- - Rs 20/-
(b)Up to Rs.10000/- Rs 50/-
(c)Up to Rs. 50000/- Rs 100/-
(d)Exceeding Rs.50000/- Rs 150/-

You can check out the link given below for rates mentioned by me (Sl. No 9 Under Stamp Duties & Fees) :

http://wbregistration.gov.in/(S(a5mv2omgkpc4lrfsexrznwgq))/Stamp_duty.aspx

And in Karnataka the rate are as under:

1) Where the Capital of the Partnership does not exceed Rs 50000/- - Stamp Duty is Rs 500/-

2) In other cases - Stamp Duty is Rs 2000/-

Check out Art. 40 from link given below--

https://www.karnataka.gov.in/karigr/actsrules/stampacts/scheduleksa57.htm

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 March 2015 Tushar Ji

Stamp Duty is not Rs 1000 even in the state where you reside.

As per Bombay Stamp Act which applies to the whole of the State of Maharashtra.

# No contribution or cash contribution Rs. 50, 000 - Rs. 500 for every Rs. 50,000 or part thereof (approx. 1%) subject to a maximum of Rs. 5,000.

# Contribution by way of property (not cash) - Same as on a conveyance on
the market value of property

May be checked from link given below:

http://www.bcasonline.org/knowledge/Referencer/stamp%20duty.htm

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 March 2015 pls follow sanjay guptas view....

CMA. CS. CA (Final)Santosh Jha

CMA. CS. CA (Final)Santosh Jha (Expert)
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23 March 2015 mr Tushar stamp duty on sale deed & stamp duty on partnership deed are two different things altogether.

As rightly guided by Mr Sanjay the stamp duty on Partnership Deed is different for each state. There is no fixed stamp duty of Rs 1000/- as suggested by you. You can check the Stamp Act of your state.

It is advisable to check the Stamp Act of the concerned State.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 March 2015 Tushar Ji with all due respect to you, your contact and his lawyer i must say that your observation must be supported by some provision of law. Dear Tushar you are a qualified Company Secretary if I am not wrong, how can you not accept the provision of Stamp Act as produced herein above by me. Sorry dear I can not make you understand. You can follow the advise of your contact if you wish instead of provisions of Stamp Act.

Further your cited case of Stamp duty on Sale Deed is not relevant here as the matter involved is partnership deed.