Llp stamp duty payable on supplementary deed in case of incr

LLP 10528 views 4 replies

Manish Buchasia PCS Ahmedabad

Practising Company Secretary

306 Points Joined September 2008

FACT:

Existing LLP with a Capital of Rs 1.5 lacs, Existing Stamp Duty paid rs 1500/-
Registered office Maharashtra
want to increase capital / contribution to rs 5= 1.5+3.5=5 lacs by Admitting new partner.

Query:

What is the stamp duty payable on the Supplementary Deed ?
All the Partner Will execute the deed (old and New) ?
Notarization of deed is compulsory ?

Thanks

Best Regards:
Manish Buchasia / M. S. Buchasia & Associates

(Practising Company Secretaries)
410, "SATYAM MALL" Nr Kameshwar School, Opp Samman,
Jodhpur, Satellite , Ahmadabad -380015, Gujarat
(M) 09898055367 (O) 079-30023620
(e) manishbuchasiacs @ gmail.com
NB: Ack the mail by Reply

https://sites.google.com/site/csupdated/csupdate
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Replies (4)

CS VIRAL SANGHAVI

Proprietor

89 Points Joined December 2009

Dear Sir

I was in impression that the stamp duty is same as per Partnership Agreement, so whatever we pay in case of partnership, we pay on LLP also.

But a senior CS told me that there is no separate entry for LLP Agreement in the stamp act, hence no specific stamp duty.

What is your experience on this ?

lalbabu

CA Practice

53 Points Joined January 2013

Can you please send me Supplementary llp agreement (draft copy ) for change of office within the same area

email - khguptaandco @ gmail.com

Email.- firmsclient @ gmail.com

juli

Student CS

83 Points Joined March 2015

sir,

i have a query that in supplementary llp agreement for increase in contribution of partners what will be amount for stamp duty to be payable?

Pratik Shah

Practising Company Secretary

4432 Points Joined October 2014

@ Manish bhai, you need to pay stamp duty on additional capital of Rs 3.5 Lacs. In Maharashtra, stamp duty on LLP Agreement is 1% on total contribution, subject to maximum of Rs 15,000/-. Hence you need to pay stamp duty of Rs 3,500/- on supplement deed.

All the partners shall sign the supplement deed. There is no need to do notary on Supplement Deed. However, if partners want, then can do so.