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Abhay salunkhe   19 September 2023

Incorrect stamp duty payment

Hello

Partnership deed is created on may 2023 with capital contribution of Rs.100000 but the stamp duty was paid only Rs. 500. As per my understanding the stamp duty has to be paid of Rs. 1000 but only 500 was paid. Can i make payment of 500 now by franking or GRASS. Is that fine or What should i do please suggest.



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 5 Replies

Adv. Mohit Chahal (Advocate)     20 September 2023

Dear Querist

Stamp duty is basically a form of tax that is required to be paid on documents and that which provides it with legal enforceability and evidentiary value in court. As laid down in section 58 of the Indian Partnership Act, an important document required for the registration of a firm is a partnership deed. This Partnership deed is liable for stamp duty. The deed must be executed and attested as a bond on a non-judicial stamp paper of proper/appropriate value. The value of stamp duty differs from State to State. You have not mentioned State where registration is being done.

Feel free to contact for further clarifications.

Regards
Mohit Chahal
Advocate
WhatsApp No. 9968911099

https://mohitchahaladvocate.business.site


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Dr. J C Vashista (Advocate )     20 September 2023

I agree with Mr. Mohit Chahal, stamp duty is a state subject which differs from a State to another.

Consult a local deed writer / sub-registrar / lawyer for proper analyses and advise / proceeding.

Real Soul.... (LEGAL)     20 September 2023

Your partnership deed is registerd already or still unregistered; if that is registered then you need not to worry as the court properly check for stamp duty prior to registration. If that is not registered then you should register that by adding complaint stamp duty

Abhay salunkhe   21 September 2023

The deed is not registered. Should I buy a new stamp paper now and file it with ROF

Dr. J C Vashista (Advocate )     21 September 2023

You may buy additional stamp duty (if deficient) and submit.


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