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Shivakumar   28 October 2018

Partnership agreement dated older than the stamp paper date

One of my client has brought a partnership deep which is executed on 13.03.2016 but the stamp paper is dated 15.03.2016. Is this a valid agreement? If not, how do we handle this as the banker is questioning this



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 4 Replies

Shashi Dhara   28 October 2018

All the partners together may rectify the date .if it is registered then rectification must be registered.

kavksatyanarayana (subregistrar/supdt.(retired))     28 October 2018

The date of purchase of stamp paer is 15-03-2016 and the execution is 13-03-2016.  Without purchasing the stamp paper how can it be executed. It will be treated as no stamp duty paid on the deed.  The Collector under Indian Stamp Act, has power to collect the deficit stamp duty and if necessary with penality.

Shivakumar   28 October 2018

Thanks for the reply sir. Do you have a soulution for this situation? If Yes, please help me with it

manoj   29 October 2018

The said partnership deed is invalid since the date of commencing the bussiness can be written in body of partnership deed beyond stamp paper date stating that the business of firm commence on 13-03-2016 as orally, all the partners desire to terms be in writing so the said partnership deed is executed on 15-03-2016. but the stamp paper beyond its date cannot be valid. All the partners in the firm can execute contract to the contrary the date of businesss will commence from 15-03-2016.

V E MANOJ KUMAR

ADVOCATE

CELL NO 8686159292


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