Revised Stamp Duty Rate on Partnership/ LLP Deed and MOA in Maharashtra

The Maharashtra Stamp Act is amended and Amendment was published in “Maharashtra Government Gazette”, on the 24th April 2015.

Stamp duty on LLP agreement and MOA is amended by MAHARASHTRA ACT No. XX OF 2015 and this act may be called Maharashtra Stamp Amendment Act, 2015 notified on 24.04.2015.

A. Partnership/ LLP agreement:

1. Instrument of any partnership inclusive of, Limited Liability Partnership (LLP) –

a) No share of contribution in partnership, or by way of cash does not exceed 50,000 : Five hundred rupees

b) Brought in by way of cash is in excess of rupees 50,000 : 1% of the amount of share contribution subject to maximum of rupees fifteen thousand. (earlier Rs. 500 for every Rs. 50,000 or part thereof of contribution, subject to maximum duty of Rs. 5,000)

2. Dissolution of partnership or retirement of partnership inclusive of, LLP –

a) Where on dissolution of the partnership or on retirement of a partner any property is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership : The same duty as is leviable on a Conveyance, subject to minimum of rupees one hundred.

b) In any other case : Rs. 500 (earlier Rs. 200)

Relevant Extract from Maharashtra Stamp Amendment Act, 2015

(24) for Article 47, the following Article shall be substituted, namely:-

“47. PARTNERSHIP—

(1) Instrument of any partnership inclusive of, Limited Liability Partnership and Joint Venture to run a business, earn profits and to share profits, whether in cash or in kind
(a)           where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceeds 50,000. Five hundred rupees.
(b) where such share contribution brought     in by way of cash is in excess of rupees 50,000. One per cent. of the amount of share contribution subject to maximum of rupees fifteen thousand.
(c)where such share contribution is brought in by way of property, excluding cash. The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of Article 25, on the market value of such property.
(2) Dissolution of partnership or retirement of partner inclusive of, Limited Liability Partnership and Joint Venture to run a business, earn profits and to share profits, whether in cash or in kind
(a)  where on dissolution of the partnership or on retirement of a partner any property is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership. The same duty as is leviable on a Conveyance under Clause   (a), (b) or (c), as the case may be, of Article 25, on the market value of such property, subject to a minimum of rupees one hundred.
(b)  in any other case Five hundred rupees.”;

B Memorandum of Association:

Stamp duty on MOA increased from Rs. 200 to Rs.1000

Download Maharashtra Stamp Amendment Act, 2015 as notified on 24.04.2015

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15 Comments

  1. Marilyn Kurian says:

    where a partner bring in property to the partnership firm and eventually retires from the firm but gets a share of the notional assets in the form of cash and agreed upon by all of the partners, what is the stamp duty leviable as per Gujarat Stamp Act?

    1. CA RAHUL says:

      Rs. 1000/- stamp duty applicable if total share of fixed capital introduced by partner is Rs.1.00 Lack, on the day when partnership came into exist

  2. pallavi says:

    What would be the stamp duty if an existing partner is retiring and same time a new partner with a share on 50,000 is introduced in the “2 partner” firm.

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