partnership deed

meenu katuria (Querist) 24 February 2010 This query is : Resolved
is partnership deed is necessary 2 b get registered if capital is 100000 or so if y how much will b cost of stamp papers as per my knowledge 200/-
THIS PARTNERSHIP NEEDS 2 GET REGD. IN DELHI

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Devajyoti Barman (Expert) 24 February 2010
Irrespective of the amount of capital the registration of Partnership is not compulsory though the short comings of non registration because of Sec 69 of the Partnership Act makes it advisable to register.

B K Raghavendra Rao (Expert) 24 February 2010
Under Section 58 (1A) of the Partnership Act, a partnership firm need to be registered within one year from the date it is formed.

In Karnataka, stamp duty for a partnership firm with capital fund of Rs. 5,000/- is Rs. 100/- and in any other case it is Rs. 1,000/-. Look into the stamp act of the state where the firm is to be registered.

A V Vishal (Expert) 24 February 2010
I concur with the advise of Barman, there is no legal compulsion to register the partnership deed as asked by the querist, however to overcome the shortcomings due to non registration u.s.69 it is only advisable. Further the section mentioned by Rao relates to application for registration of the firm. It is purely procedural aspect which he has dealt.