Franking of documents
sujit
(Querist) 21 August 2014
This query is : Resolved
i have got franking done on wrong drafts , for rs 40000/- ,is there any way by which i can get it rectified or can i get the amount back from the bank and get other drafts franked
Y V Vishweshwar Rao
(Expert) 22 August 2014
You can get the Value of the stamp with some deductions - apply before the Stamps and Registration Department! The Person / or/ the Unit of Stamp Vendor can not return the Stamp Value . You have to surrender the Wrong Draft which is wrongly stamped before the District Registrar Concerned for Return of Stamp duty which is not used /or/ not properly stamped by mistake !
sujit
(Querist) 22 August 2014
thanks mr Rao , do you the exact procedure , i am from mumbai
sujit
(Querist) 22 August 2014
thanks mr Rao , do you know the exact procedure , i am from mumbai
Y V Vishweshwar Rao
(Expert) 22 August 2014
At our place we will approach the District Registrar- stamps and Registrations - submit a petition and request -How ever you may consult your Local District Registrar Stamps & Registration- about the local procedure.
V R SHROFF
(Expert) 22 August 2014
what DATE of franking ? Vital Point..
malipeddi jaggarao
(Expert) 22 August 2014
I agree with the suggestion of expert Shri Vishweshwar Rao.
@ Expert Shri Shroff - the date of franking is important if we surrender the unused documents claiming refund. Here stamp duty is paid erroneously on the documents which are wrong documents. Hence in this case these can be surrendered to the Registrar of Stamps claiming refund and as Mr.YVV Rao opined, the refund will be given after deducting certain percentage on the paid stamp duty.
@author: You have to make your own efforts by visiting the concerned Registrar or stamps and find out the procedure.
Rajendra K Goyal
(Expert) 22 August 2014
Agree with the advise of expert Y V Vishweshwar Rao.
V R SHROFF
(Expert) 22 August 2014
No Time Limit to ask refund??
I BELIEVE, THERE IS LIMITATION PERIOD, BEYOND WH, IT IS INVALID.. Pl check up Time Limit,,
malipeddi jaggarao
(Expert) 22 August 2014
As per the notification of Inspector General of Karnataka, there some time limit. Since Stamp Duty Act is both State and Indian I suppose similar procedure is in vogue in all the states. One can go to the website of concerned Inspector General of Stamps to know exact applicability of time limit. As far as Karnataka, the following is the time limit:
Application may be submitted within the time limit mentioned below to the District Registrar (Deputy Commissioner of Stamps), Assistant Commissioner (Revenue Division) or Assistant Commissioner of Stamps: If Stamp paper is purchased and executed as security to get loan and such loan could not be obtained on execution of such document within 6 months from the date of execution (signature); When the stamp paper is not used for the purpose for which it was purchased, within one year from the date of such purchase; When time limit prescribed above is over, application may be submitted to Government within 10 years from the date of purchase of stamps; There is provision to get refund beyond 10 years from the date of purchase of stamps; Depending on the period within which application is submitted, commission as mentioned below may be deducted for refund of value of stamp.
Nowadays it is easy to go to the concerned websites and browse through for getting the required information.
Thanks to Expert Shri Shroff for making to visit one of the websites on this pretext and update my knowledge also.
RAJU O.F.,
(Expert) 22 August 2014
You mentioned drafts and bank. Is it bank DD? If so, cancel the DD and obtain fresh DD for the required amount from Bank. Bank may require stamped discharge behind the DD and may charge Commission afresh for new DDs.
Surrender K Singal
(Expert) 22 August 2014
Certain Bank do sell Stamps or affix stamp duty of your draft documents for registration and THAT is what the Author is concerned about;
@Author Be careful about limitation that varies from State to State - like 6 months in NCTD
T. Kalaiselvan, Advocate
(Expert) 26 August 2014
Well addressed by expert Mr. Mallipedi Jagga Rao on the subject, while following the advise better be cautious about the limitation aspect too.
