Dear Members
I am about to incorporate an LLP in karnataka, but i do have a confusion regarding two issues:
1) Amout of stamp duty payable if the total contribution is Rs. 2 Lacs
2) The manner of stamp duty payable.
my consideration
i feel the amout of stamp duty would be Rs. 200 as the Karnataka Stamp Act provide the stamp duty on shares or equitable would be Rs. 1 for every Rs. 1000 and part thereof. I am confursed because the i found the act from google and it might not be updated.
AND
Regarding manner of payment i feel i have to purchase the stamp paper of Rs. 200. Do the epayment of stamp duty as applicable in case of formation of company is also applicable to LLP as well.
pls advise
CAclubindia
