Stamp Duty on LLP Agreement

LLP registration does not end by getting the certificate of incorporation. An agreement with MCA has to be filed, after getting a certificate.

At the last step of online LLP registration you need to enter into an agreement and file it with MCA. An agreement must be filed within 30 days of incorporation. An LLP agreement is nothing but a written contract between all the partners of an LLP.

Various Clauses agreed by the partners are included in the LLP Agreement. Roles and responsibilities of the partners of an LLP are defined in the agreement. All the partners must sign the agreement. An LLP works and functions according to the agreement. With the help of the applicable clauses in an LLP agreement the disputes (if any), are resolved. The resolution will be according to the LLP Act, in case of absence of any clause.

An agreement should be on a stamp paper and also be notarized. Stamp duty is the matter of a state. There is no fixed rate at which stamp duty is charged, very state has a different stamp duty act; stamp dutyrate differs from state to state. With the amount of capital contributed in the LLPsss, the stamp duty also changes.