In this write-up, I have tried to cover the pain areas of every single professional who have to work really hard to find out as to what amount of stamp paper has to be bought for LLP Agreement for different states.
We know that Stamp Duty is subject to state and thus it varies from state to state.
Normally, when we incorporate Companies, we keep the capital of INR One Lac.
On the other hand, while we incorporate any LLP in India, the amount which is kept as minimum threshold generally is INR Ten Thousand. The problem arises when we have to struggle really hard after getting Certificate of Incorporation when we have to file Form 3 for initial LLP Agreement to MCA.
In Delhi, it is INR 100/- In Haryana, it is INR 1000/- In Uttar Pradesh, it is 750/-
Considering the capital is INR 10,000/-
We know that filing of LLP agreement is mandatory after receiving Certificate of Incorporation within 30 Days. After 30 Days, there is a penalty of INR 100/- for every day delay till it is filed. Thus, it is suggested that as soon as one gets his LLP incorporated, prepare the LLP Agreement and file it without delay.
Capsule: There is no MOA & AOA in LLP, unlike it has Limited Liability Partnership Agreement in LLP.
Points to remember:
LLP Agreement must be printed on non-judicial stamp paper;
LLP Agreement shall be signed by the Designated Partners of the LLP;
LLP Agreement is required to be notarized before uploading;
LLP Agreement has to be attached in Form 3 of LLP;
The Content of Form 3 of LLP shall be in sync with the LLP Agreement;
Stamp Duty payable of LLP Agreement is different from state to state; and
The stamp duty payable on partnership agreement in view of the Finance Bill, 2009 is also payable for LLP.
To clear the ambiguity, here is the Chart on LLP Agreement Stamp Duty for all States
Stamp duty for LLP Agreement should not be paid on MCA Portal. The Stamp Duty payable for LLP Agreement is a State subject and same may be paid as per the State Stamp Act. Till the time specific Stamp Duty is prescribed in respective Stamp Act, the Stamp duty on LLP Agreement may be paid as per the stamp duty payable on partnership agreement in view of the Finance Bill, 2009.
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