In a partnership firm, out of 4 partners, 2 partners have retired. The remaining two partners are continuing the business. From the firm books, the retired partners were paid the amount standing to the credit of their capital account on retirement. Do we need to pay any stamp duty on these amount to registrar of firms? No immovable property was transfered on retirement. The firm is registered in Andhra pradesh.
Thanks in advance.
Regards,
AKA
