Stamp duty leviable on llp agreement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2015
I am in process of Conversion of a private company into LLP. What will be the stamp duty leviable on such LLP agreement? The contribution is shares in this case. If we go through Stamp act, following bifurcation is given in case of Partnership agreement-a)where contribution is brought in cash b) where contribution is brought in by way of property. My question is since there is no cash involved in LLP conversion, shares are the contribution it will be treated as contribution brought in cash or as property?
06 May 2015
stamp duty is based on state to state. further rs. 1000/- stamp duty on LLP agreement is enough for conversion.
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