Stamp Duty Law: Stamp Duty on Partnership Deeds Online Test

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Stamp Duty Law: Stamp Duty on Partnership Deeds

Description: This quiz is designed to test your knowledge on the Stamp Duty Law, specifically focusing on the Stamp Duty applicable to Partnership Deeds.
Number of Questions: 14
Created by: Aliensbrain Bot
Tags: stamp duty law partnership deeds indian law

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What is the purpose of levying Stamp Duty on Partnership Deeds?

To generate revenue for the government.
To regulate the formation of partnerships.
To protect the interests of partners.
To ensure the validity of Partnership Deeds.

Which law governs the Stamp Duty on Partnership Deeds in India?

The Indian Stamp Act, 1899.
The Partnership Act, 1932.
The Companies Act, 2013.
The Income Tax Act, 1961.

What is the rate of Stamp Duty applicable to Partnership Deeds?

0.25%
0.50%
1%
2%

Is Stamp Duty payable on the entire value of the Partnership Deed?

Yes
No
It depends on the value of the Partnership Deed.
It depends on the number of partners.

Who is responsible for paying the Stamp Duty on a Partnership Deed?

The partners jointly
The partnership firm
The person who drafts the Partnership Deed
The government

When is the Stamp Duty on a Partnership Deed payable?

At the time of registration of the Partnership Deed
Within 30 days from the date of execution of the Partnership Deed
Within 60 days from the date of execution of the Partnership Deed
Within 90 days from the date of execution of the Partnership Deed

What are the consequences of not paying the Stamp Duty on a Partnership Deed?

The Partnership Deed will be invalid.
The partners will be liable to pay a penalty.
The partnership firm will be dissolved.
All of the above.

Can the Stamp Duty on a Partnership Deed be refunded?

Yes, if the Partnership Deed is cancelled.
Yes, if the Partnership Deed is amended.
Yes, if the partnership firm is dissolved.
None of the above.

What is the maximum amount of Stamp Duty that can be charged on a Partnership Deed?

Rs. 10,000
Rs. 20,000
Rs. 30,000
There is no maximum limit.

Is Stamp Duty applicable to all types of partnerships?

Yes
No
It depends on the type of partnership.
It depends on the number of partners.

What is the procedure for paying Stamp Duty on a Partnership Deed?

The partners can pay the Stamp Duty online.
The partners can pay the Stamp Duty at a bank.
The partners can pay the Stamp Duty at a post office.
All of the above.

What is the validity period of a Stamp Duty paid on a Partnership Deed?

1 year
2 years
3 years
There is no validity period.

Can a Partnership Deed be registered without paying the Stamp Duty?

Yes
No
It depends on the value of the Partnership Deed.
It depends on the number of partners.

What are the consequences of registering a Partnership Deed without paying the Stamp Duty?

The Partnership Deed will be invalid.
The partners will be liable to pay a penalty.
The partnership firm will be dissolved.
All of the above.

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