hi
Please let me know about validity of stamp paper was purchased in name of Lawer and we want to use for partnership deed... what types of legal issue is raisen when the stamp paper for deed are in lawer name...any problem in income tax assessment of firm about deed validity.
Stamp paper can be purchased either in the name of the Firm (under formation) or collectively by the partners by writing "Sanwala Ram Suthar & Others" etc. The applicable provision for payment of stamp duty is Section 29 of The Indian Stamp Act, 1899.
The stamp paper cannot be in the name of your lawyer to use in writing a Partnership Deed.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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