Partnership deed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2014
respected sir,
as per sec 40(b) of income tax act partnership shall be authorised by instrument of partnership.i want to know that whether the partner ship deed concluded on a white paper is a valid one or not .according to my knowldge there is no specification in incometax regarding this issue.as per civil law agreements concluded on white paper is valid( with pament of stamp required stampduty whenever required).please discuss
as per sec 40(b) of income tax act partnership shall be authorised by instrument of partnership.i want to know that whether the partner ship deed concluded on a white paper is a valid one or not .according to my knowldge there is no specification in incometax regarding this issue.as per civil law agreements concluded on white paper is valid( with pament of stamp required stampduty whenever required).please discuss
21 November 2014
Yes you are correct. It will do on white paper with required stamp duty.
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