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Partnership deed

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 November 2014 respected sir,
as per sec 40(b) of income tax act partnership shall be authorised by instrument of partnership.i want to know that whether the partner ship deed concluded on a white paper is a valid one or not .according to my knowldge there is no specification in incometax regarding this issue.as per civil law agreements concluded on white paper is valid( with pament of stamp required stampduty whenever required).please discuss
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
21 November 2014 Yes you are correct. It will do on white paper with required stamp duty.
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