Stamp Duty

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CA Bhavesh Thummar (Querist)
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17 March 2020 1. What amount of stmap duty need to be paid for incorporation of new partnership firm?
2. What amount of stamp duty need to be paid for alteration in partnership?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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25 May 2020 a) No share of contribution in partnership, or by way of cash does not exceed 50,000 : Five hundred rupees

b) Brought in by way of cash is in excess of rupees 50,000 : 1% of the amount of share contribution subject to maximum of rupees fifteen thousand. (earlier Rs. 500 for every Rs. 50,000 or part thereof of contribution, subject to maximum duty of Rs. 5,000)