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Disha Goyal   25 June 2019

whether stamp duty payable for property contributed to partnership firm by all partners?

we are planning to create partnership firm by contributing particular property of all the 6 persons. the properties are registered in name of particular persons.. so do we need to pay stamp duty on property so introduced? and whether registration necessary?


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 3 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     25 June 2019

Dear querist, if all the partners invest their properties in the Firm as capital, you have to get prepare a Partnership Deed accordinly.  The Partnership Firm shall be registered before the Registrar of Firms though the partnership firm is not compulsory registeable.  And when any partner desires to retire from firm, then he shall execute relinquishment deed in favour of the remaing partners on the properties excluding his share.  for relinquishment deed, necessary stamp duty has to be paid as per your state rates.  However consult a local CA.

Disha Goyal   25 June 2019

at time of registration do we need to pay stamp duty?

kavksatyanarayana (subregistrar/supdt.(retired))     27 June 2019

Yes. you need to pay stamp duty.


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