Llp stamp duty payable on supplementary deed in case of incr

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Manish Buchasia PCS Ahmedabad

Practising Company Secretary

71 Points Posted on 29 June 2012

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

73 Points Posted on 23 August 2012

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

34 Points Posted on 12 September 2014

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

55 Points Posted on 14 April 2016

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

3263 Points Posted on 16 April 2016

@ 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.