Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Stamp duty

(Querist) 08 September 2017 This query is : Open 
Article 5 (h) (A) (iv) of the Bombay Stamp Act states 5(h)AGREEMENT OR ITS RECORDS OR MEMORANDUM OF AN AGREEMENT, - (A) if relating to -
(iv) creation of any obligation, right or interest and having monetary value, but not covered under any other article,--
(a) if the amount agreed does not exceed rupees ten lakhs,--0.1 per cent. of the amount agreed in the contract subject to minimum of rupees 100. (b) in any other case,-- 0.2 per cent. of the amount agreed in the contract.

(1) What Agreements fall within this Clause? Is this Clause meant only for documents which spell one-sided obligation like undertakings?
(2) Would Service agreement fall within this purview?
(3) Would Bank guarantees be considered as falling within the purview of this Clause?
(4) Would agreements setting out terms and amount of Donation fall within this Clause?
(5) Would an agreement to outsource activity of "collecting information, processing and providing of results" fall within this Clause?



You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :