Stamp duty for retirement deed

Querist : Anonymous (Querist) 09 August 2023 This query is : Resolved
What is
the stamp duty for retirement deed w.r.t. partnership in haryana?
There are 4 partners in a partnership firm. 1 of them wants to retire and 3 of them wants to continue in a firm. Should a separate retirement deed and a separate partnership deed be executed or should a retirement cum continuation deed be executed?

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T. Kalaiselvan, Advocate (Expert) 09 August 2023
A Deed of Retirement from Partnership is an Agreement entered into between the Retiring Partner (the Partner who intends to leave the Partnership) and the Continuing Partners (the Partners who will continue to work as Partners of the existing Firm with updated terms).

The stamp duty payable for the deed can be enquired locally

kavksatyanarayana (Expert) 09 August 2023
The outgoing partner and continuing partners shall execute a Re-constitution of the Partnership deed and if the remaining partners wish to continue the partnership business with the same terms and conditions, they may continue as the remaining partners mutually agreed along with Form.V/VI(vary from one state to another state). The stamp duty may be at Rs.1,000/- to my best for the said deed.

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