LLP Agreement & Stamp Duty Rates Across India

Last Updated at: Oct 15, 2020
LLP agreement

An LLP agreement is a document that lists the obligations, duties and mutual rights of partners in an LLP. This agreement is to be made, and printed on non-judicial stamp paper. Also, the clauses needs to be discussed and agreed upon by all partners. As a proof that all partners are fine with the clauses mentioned in the agreement, they are required to sign the agreement and the same should be notarised.

As the LLP agreement states the essentials of the partnership, this needs to be prepared and filed within 30 days of incorporation of an LLP. The Ministry of Corporate Affairs may levy a heavy fine of Rs. 100 per day, with no cap, for non-compliance. Hence, Preparing an LLP agreement and submitting it within the required due date is essential to escape the non-compliance clause.

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Each state has different rules on the value of stamp paper for printing the LLP agreement, and it depends upon the capital contribution by each partner.

Stamp Duty on individual States

The Stamp duty levied on the LLP agreement varies from State to State, and is in accordance with the State’s Stamp Act. The list of Stamp duty for different Indian States is as follows:

A lawyer with 14 years' experience, Vikram has worked with several well-known corporate law firms before joining Vakilsearch.