13 August 2014
Right now we have conducted audit of partnership firm, we notice that partnership deed is build up on Rs 18000 stamp paper. but as per our knowledge in Bombay Partnership Act
In Gujarat it is as per Bombay Stamp Act,
So far Capital contribution upto Rs. 50000 it is Rs. 500 increasing thereafter by Rs. 500 each for every increase in capital by Rs. 50,000. Maximum stamp Rs. 5000 in Gujarat.
SO, WHY PEOPLE CREATE A PARTNERSHIP DEED ON MORE THAN RS 5000/-? WHAT IS REASON BEHIND THAT ?
16 August 2014
Generally partnership deeds are made on stamp paper valued not more than Rs. 5000, the above could be exception to that and sometime some exceptions dont have any explanations.
CAclubindia
