ICICI

Should i show capital as 20 lacs in partnership deed ?


CA Abhishek Singh (practice)     13 July 2013

CA Abhishek Singh
practice 
 35 likes  2059 points

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Hello everyone,

 

one of my client started a restaurant on 01/7/2013 in partnership.

A brought Rs.10 lacs and Mr. B brought in Rs.10 lacs.

Both will share profits equally. Now i have to draft their partnership deed.

My question : should i show their capital as 20 lacs total or show less capital because stamp duty will be more if i show more capital ?

 

waiting for the views of the experts.

 

CA Kedar Sakhardande (Proprietor)     22 July 2013

CA Kedar Sakhardande
Proprietor 
 68 likes  932 points

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You may make the deed with minimum capital say Rs. 1,00,000 as a fixed capital and then show the balace infusion of capital after some period and may call it a sfluctuating capital

regards

 


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