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Partnership Deed

Maxim Micheal Fernandes (Managing Partner) (87 Points)

25 February 2011

Dear All,

We have constituted one partnership Deed in June 2009 (without Immovable Property) but we have taken Rs 100 stamp paper instead of Rs 1000.00. What are the remedies available?

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2 Replies

Rashmi (CA) (83 Points)
Replied 25 February 2011

Hi.. u need to pay the differential amount of stamp duty and also pay the interest on delay of registration of partnership firm.. u need to buy e-stamps for both differential duty & interest on delay..

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Kannan M (Consultant) (85 Points)
Replied 28 February 2011

Rashmi is right. The thing is if you had gone for registration, they would have instructed you to purchase stamp value of Rs. 1000. I assume that yours is not registered one. Since registration is not compulsory, You can register by paying the differential amount as stamp duty at the time of registration.