I am about to incorporate an LLP in karnataka, but i do have a confusion regarding two issues:
1) Amout of stamp duty payable if the total contribution is Rs. 2 Lacs
2) The manner of stamp duty payable.
i feel the amout of stamp duty would be Rs. 200 as the Karnataka Stamp Act provide the stamp duty on shares or equitable would be Rs. 1 for every Rs. 1000 and part thereof. I am confursed because the i found the act from google and it might not be updated.
Regarding manner of payment i feel i have to purchase the stamp paper of Rs. 200. Do the epayment of stamp duty as applicable in case of formation of company is also applicable to LLP as well.