01 June 2016
Partnership deed is executed on stamp paper of Rs. 50. But as per clause 47 of The Maharashtra Stamp Act 1958, the stamp duty comes to RS. 5000. So whether the partnership deed executed is valid? And if not then what are the consequences of lower stamp duty and what action should be taken to correct it?
01 June 2016
the deed is short stamped. You can make use of adhesive stamps for the remaining value. The short stamped deed is voidable at the option of the partners.
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