Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167616 Points)
Replied 28 July 2023
It depends upon stamp duty leviable in the particular state.
SELVA
(Tax Consultant)
(136 Points)
Replied 28 July 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167616 Points)
Replied 28 July 2023
Rs 300 value of stamp paper
SELVA
(Tax Consultant)
(136 Points)
Replied 28 July 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167616 Points)
Replied 28 July 2023
Actually, it should be registered, but notarized deed is also valid in most of the circumstances.
Indian Partnership Act, 1932 Section 18 states that a partner is an agent for doing the business of the firm and the partnership firm will not be treated as legal entity. Hence, a firm which has entered into notarized partnership deed have no legal status for any proceedings.
A notarized partnership firm cannot sue another party in case of any dispute. Hence it is suggested to Register a Partnership firm.
If however, there is uncertainty of the life of the partnership in the short run then it is recommended to not to register the partnership and start the work with Notarized partnership.
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