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LLP
Agreement Stamp Duty
An LLP agreement is a records that lists the duties or mutual rights of partners
in an LLP. This agreement is to be prepare , and printed on non-judicial stamp
paper. Also, the items that are needs to be discussed and approved by all
partners. As a ceritified that all partners are fine with the items or rules
mentioned in the agreement, they are required to sign the agreement and the
same should be notarized.
As the LLP agreement
states the importance of the partnership, this needs to be make and filed
within 30 days of incorporation of an LLP. The Ministry of Corporate Affairs
may impose a heavy fine of Rs. 100 per day, with no cap, for disobedience.
Hence, Preparing an LLP agreement and submitting it within the required due
date is important to avoid the disobedience rule.
Each state has different
rules on the value of stamp paper for printing the LLP agreement, and it
depends upon the capital contribution by each partner.
Stamp Duty on Indian States
The Stamp duty levied on
the LLP agreement varies from State to State, and is in accordance with the
State’s Stamp Act. The list of Stamp duty for different Indian States is as
follows:
