Kiran Gandhi 25 May 2016

Stamp duty

Dear Sirs,

I undersigned Nina Gandhi had purchased a Shop at Shaktinager, Dahisar (E), Mumbai 400068 during the year May 1995. at a total cost of Rs.91,000/-.

we have paid Rs.9,100/- as a registration Charges and Stamp duty has not been paid till date.

I have got two queries as under:

During the year 2006 Society was formed. The Secretary of the society is not handing over Share Cirtificates saying that since stamp duty is not paid we will not hand over share citrificates, is that the rule?
whether stamp duty can be paid now? if yes what will be the amount of Stamp duty ? will it attarct any penalty? if yes what will be the rate of penalty.

please reply and oblige me.

Thanking you

Nina Gandhi

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2 Replies

Dr J C Vashista (Advocate) 26 May 2016

Registeration and Stamp duty are irrelavant to issuance of share certificate by Society.

The Managing Committee of the Society has no authority to raise the question of payment/non- payment of registration or stamp duty for the property purchased in 1995 much before formation of the Society (2006).

Please find out Bye-Laws of the Society whether it contain such a provision to accept/deny membership to shopkeeper(s)/owners of property already registered without payment of Registeration charges and Stamp Duty.

However, Sub-Registrar shall not register any property without payment of proper registeration charges and stamp duty. Get your document rechecked through a local lawyer.

P. Venu (Advocate) 26 May 2016

The information furnished is confused. Apparently, the purachase had been effected through a registered conveyance deed and you had spent 10% of the purchase value for registration purpose. This amount would be registration charges (which, generally is a small amount) plus stamp duty (which is a percentage of purchase value).

Please reexamine and inform the society of the correct position.