02 June 2009
r/sir, i have taken housing loan of rs. 10 lakhs, now i have to do equitable mortgage on the same, for the purpose please tell me the rate of stamp duty to be paid for the registration of equitable mortgage deed. plz reply me soon, i am in trouble. thanking you warm regards vikas jain
A correction to your statement" A right arises out of statute" and the banks do not derive any right to collect stamp duty, in fact it is under the Stamps Act, responsibility arises to stamp the document properly more over, if the stamp duty is not paid properly, the document cannot be admitted as evidence in the court of law.