Partnership deed
This query is : Resolved
08 August 2011
PLEASE HELP ME ON FOLLOWING ISSUE
ONE OF MY CLIENT HAS MADE PARTNERSHIP DEED IN OCT 2009 FROM ANOTHER LAWYER,
THEIR TWO PARTNERS CAPITAL CONTRIBUTION IS RS. 300000/- , AS PER ACT DEED MUST BE EXECUTED ON STAMP PAPER VALUE RS. 3000/-(1 % OF CAPITAL CONTRIBUTION )
But deed wrongly executed on stamp paper of rs. 100 and also made notarized by Notary officer
i have question how i can make deed legal?
or can i amend deed by paying stamp value as per law?
ONE OF MY CLIENT HAS MADE PARTNERSHIP DEED IN OCT 2009 FROM ANOTHER LAWYER,
THEIR TWO PARTNERS CAPITAL CONTRIBUTION IS RS. 300000/- , AS PER ACT DEED MUST BE EXECUTED ON STAMP PAPER VALUE RS. 3000/-(1 % OF CAPITAL CONTRIBUTION )
But deed wrongly executed on stamp paper of rs. 100 and also made notarized by Notary officer
i have question how i can make deed legal?
or can i amend deed by paying stamp value as per law?
08 August 2011
Generally to avoid stamp duty the capital constribution is not mentioned. You can do the following:-
1) Pay the stamp duty with penalty
2) Redraft the partnership deed and do not mention the capital contribution amount.
It seems that your partnership is unregistered. So you execute a fresh partnership and mention that it is amendment of deed executed in Oct.2009 and then it is to be registered with Sub-Registrar Office and then with the Registrar of Firms and Society
1) Pay the stamp duty with penalty
2) Redraft the partnership deed and do not mention the capital contribution amount.
It seems that your partnership is unregistered. So you execute a fresh partnership and mention that it is amendment of deed executed in Oct.2009 and then it is to be registered with Sub-Registrar Office and then with the Registrar of Firms and Society
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