deficient stamp duty

Advocate

In Punjab,instrument of  agreement requires stamp duty of Rs.300/-. In my client's case, it is only Rs.15/-. What is the remedy if suit for specific performance is to be filed? 
 
Reply   
 
Lawyer in Hyderabad.Email:ramachary64@gmail.com

In case of agreements relating to property the stamp duty is linked to the value of the property subject to a maximum of rupees one hundred.

 
Reply   
 



in that case U have to pay the actual stamp duty with penalty when the same is questioned or put to test

 
Reply   
 
n/a

whether deficiency in stamp duty is leviable for property the circumstantial value of which in actuality is less than even circle rates ex. encumbered property sought to be sold; or even prime property in occupation of tenants can it fetch normal rates according to market no but govt. seeks to tax on circle rates. no provision in stamp act re:valuation of encumbered property.It is of common knowledge that encumbered properties fetch less than vacant properties. why then illegal taxation of capital gains on income not earned.

 
Reply   
 
Advocate

You can file the suit for Specific
performance as it is but the problem will come when you want to mark
the doument as exhibit. You have to pay 5 times penalty upon the
defiecit value as per laws in AP.

 
Reply   
 
Advocate

Dear Srinivas, in anticipation of the problem of exhibiting the agreement, I am seeking your help. At that time, the court may allow or may not allow to admit the document by paying penalty. My worry is how to make it sure that the document is marked as exhibit. Please advice. Thank You. 

 
Reply   
 
Advocate

Sir if your client can bear the
compound fee then you can file the suit and get it compounded at the
time of trial. This option can be used when you are sure that the
opposite party will come for a compromise after receiving the suit
summons or when you wants to stop a sale to third party. if not you can
take the document to the RDO and get it compounded without any penal
charges and then file a suit.

 
Reply   
 
Advocate

Sir, today only, I was going through the provisions of Indian Stamp Act, 1899. It is provided in sectins 32 or so  onwards that only within 1 month of the execution of the document, one can approach the Collector of the District who may allow to pay the deficient stamp Duty and consequently make the endorsement that the requisite duty has been levied on the document.




 


                                Please explain the concept of RDO and the procedure to get relief through RDO. Thanks.


                               In fact, I want to remove the defect before filing the suit.

 
Reply   
 
Advocate

Yes you can approach RDO for impounding
the document. Here you have to pay the actual fee as well as the
compounding fee,which will be determined basing upon the time frame
lapsed from teh date of execution. Once the same has been paid to RDO
and he affixes the stamp that the CF has been received then there will
be no objection for the court to receive the same on file. I have not
suggested you this method earlier cuz  the client has to part
with the cash even prior to filing the suit and after filing the suit
if the defendants come for a compromise, the fees paid as cmpounding
charges to the RDO will be a burden to the client as you know the same
cannot be claimed back as in the case of court fee paid in a case
settled before LSA.

 
Reply   
 
Advocate

Respected Srinivas, kindly explain the full form and meaning of RDO. In Punjab, I have not even heard about this public office designated as RDO. I hope, I will be obliged. Thank you. 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu