Partnership deed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 April 2014 respected sir,
partnershideed concluded on white paper is instrumental for the purpose of sec 40(B) of indian income tax or it is invalid for the purpose of sec 40(b) of it act please some one clarify.
thanking you

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 April 2014 The section has used the words'instrument of partnership'. There is no clarity how the 'instrument of partnership ' has to be executed for the purpose of section 40(b) of the IT Act,1961. So better to execute in stamp paper as per the concerned state law.

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