Partnership Cum Retirement Deed
Nishith
(Querist) 26 March 2011
This query is : Resolved
GROUND OF QUERY
A & B are partner in running firm called XYZ AND PRESENT CAPITAL IS ABOUT OF RS.16 LAKHS
Husband of B want to become partner in above firm for which Deed of Admission of Partners cum Retirement will be executed in following manner:
1. WEF 31.3.2011 (closing of day of Accounting year 10-11) husband of B will admit as incoming partner and
2. WEF 1.4.2011 Mrs. B will retire as out going partner.(starting day of Accounting year 11-12)
QUERIES
1. WILL ABOVE DEED EXECUTE ON STAMP PAPER OF RS.700/- is OK.
As stamp paper require is Rs.500/- per Rs.50,000/- capital for partnership deed and maximum of Rs.5000/- and for retirement Rs.200-
Now query is for above mention instrument how much stamp paper is to be use and other query is as this is Retirement cum Partnership deed so one instrument is OK or we have to prepare TWO separate instrument.
pl. advice for above
M V Gupta
(Expert) 27 March 2011
Better execute seperate deeds.
