Stamp duty on llp

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Aditi Bhardwaj (Querist)

22 November 2018 Dear Experts,

I have incorporated an LLP in November 2018 with capital contribution as Rs. 50,000. My queries are:

1) What is the stamp duty payable in Karnataka for executing the LLP agreement? Is it Rs. 2,500 or can I execute on Rs. 200 e-stamp?
2) What should be the "description of document" in the e-Stamp paper?
3) Should I be mentioning the capital contribution in the field of "consideration price" in the e-Stamp?

Thank you. Grateful for your assistance.

Regards,

Nikhil Kaushik

Nikhil Kaushik (Expert)

22 November 2018 stamp duty has to be as per the total contribution.

Description is LLP Agreement

While a lot of online portals refer minimum stamp duty as Rs 2500, I believe you should check with a local notary as Karnataka government website prescribes lower amount of Rs 1000 (refer https://www.karnataka.gov.in/karigr/Pages/Stamp-and-fee.aspx)

Aditi Bhardwaj

Aditi Bhardwaj (Querist)

25 November 2018 Still not sure on the stamp duty.. Any other suggestions?

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