The LLP agreement must be drafted by professionals to ensure accuracy. It must include all details regarding various applicable rules & regulations. Every LLP agreement must be stamped to ensure authenticity. The applicant needs to take the printout of the agreement on the non-judicial stamp paper to serve this purpose.
The agreement must be initialed on every page and full signature on the last page along with the name and date of the partners. The agreement also needs to be signed by 2 witnesses along with their full name, occupation, and address.
The stamp duty varies from state to state and depends on the capital contributed by partners. Here’s an illustrative list of applicable stamp duties depending upon state and contribution.
Capital Contribution(in Rs.)
Up to Rs. 1 lakh
Between Rs. 1-5 lakhs
Between Rs. 5 – 10 lakhs
More than Rs. 10 lakhs
|6.||Dadra and Nagar Haveli||1000||2000-5000||5000||5000|
|7.||Daman and Diu||150||150||150||150|
|14.||Karnataka||1000 Rs||1000 Rs||1000 Rs||1000 + (500 For Every 5 Lakh Increase)|
|17.||Maharashtra||1% of Capital(minimum of 500)||1% of Capital||1% of Capital||1% of Capital(15000 Max)|
|25.||Rajasthan||4000 (50,000 or below: 2000)||4,000 to 10,000 (2000 on multiple of Rs. 50000)||10,000||10,000|
*the stamp duty mentioned above is of illustrative nature and subject to change from time to time.
Check out our article for 10 Important Steps to be taken Immediately after Incorporation of LLP – https://udyogbuddy.com/10-important-steps-after-incorporation-of-llp/ which will give you more clarity for post-incorporation compliances for newly incorporated LLP.