Partnership deed

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Divya Shah (Querist)

28 August 2013 sir,
Is registration of partnership firm is compulsory? If yes, what all documents require for the same?
And for making partnership deed, what are documents require? and for how much rupee stamp paper is require?
urgent reply.

Aalok Chhaperwal

Aalok Chhaperwal (Expert)

28 August 2013 Although it is not compulsory to register partnership firm as there are no penalties for non-registration, but it is advisable to register for the legal issues.
A partnership firm can be registered whether at the time of its formation or even subsequently. You need to file an application with the Registrar of Firms of the area in which your business is located.
For making deed basic information needed such as names and addresses of partner, their age, place of business, type of business, name of the firm, capital contribution/ profit/loss sharing ratio etc.
Stamp duty is varies from state to state...pls specify in which state the principle office of the firm will be located.

Divya Shah

Divya Shah (Querist)

28 August 2013 ohk sir,thanku fr immediate reply.
the business location is in mumbai itself.
also what are the limits for stamp paper?
and only a CA can make a partnership deed?

Aalok Chhaperwal

Aalok Chhaperwal (Expert)

28 August 2013 Capital Contribution by Partner -

For a capital contribution of Rs. 50,000/- or less Stamp Duty Payable- Rs.500/-

For every additional capital of Rs. 50,000/- or part thereof Stamp Duty Payable - Rs. 500/-

Maximum stamp duty for any amount of capital Rs. 5,000/-

Just hire a local advocate for this.

Divya Shah

Divya Shah (Querist)

28 August 2013 thank you sir.

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