State-wise rates of Stamp Duty on LLP Agreement
The registration of an LLP does not end by getting the certificate of incorporation. After getting a certificate, an agreement with MCA has to be filed.
What is an LLP agreement?
The final step of online LLP registration is to enter into an agreement and file it with MCA. An agreement must be filed within 30 days of incorporation. An LLP agreement is a written contract between all the partners of an LLP.
An LLP agreement includes various clauses as agreed to by the partners. LLP agreement defines the roles and responsibilities of the partners of an LLP. It must be signed by all the partners. An LLP operates according to the agreement. In case of any disputes, it is resolved according to the applicable clauses of an LLP agreement. In case of absence of any clause, the resolution will be according to the LLP Act.
LLP agreement defines the roles and responsibilities of the partners of an LLP. It must be signed by all the partners. An LLP operates according to the agreement. In case of any disputes, it is resolved according to the applicable clauses of an LLP agreement. In case of absence of any clause, the resolution will be according to the LLP Act.
What is the stamp duty on LLP agreement?
An agreement must be on stamp paper and be notarized. Stamp duty is a state matter. Every state has a different stamp duty act and there is no fixed rate at which stamp duty is charged;
Stamp duty charges by different states of India
Conclusion
Thus, the stamp duty on an LLP agreement depends on the state in which it is registered and the amount of capital contribution. It can be paid in two ways, by purchasing non-judicial stamp paper or by franking the agreement from the bank. The agreement must be filed with MCA within 30 days of incorporation. MCA will charge late filing fees of Rs. 100/- per day for filing an agreement after the due date.
CS Shivani Vyas
Shivani is a Company Secretary at Legalwiz.in with an endowment towards content writing. She has proficiency in the stream of Company Law and IPR. In addition to that she holds degree of bachelors of Law and Masters of commerce.
