Stamp duty under Bombay Stamp Act
Unnati
(Querist) 02 October 2010
This query is : Resolved
Facts of the case-
Mr A was the owner of a property in the co-operative society wich he had acquired from his self generated rsources.Mr A suddenly died in the year 1999 leaving behind a WILL but there was no nomination in the co-operative society for the property. Mr A was married but his wife had deserted him, officially the divorce had not taken place. There was no issue out of their marraige – In his WILL Mr A had specifically stated that none of his assets (including the said property) should go to his wife. According to Mr A 's WILL, his married sister - Smt C being the executrix of his WILL should ensure that his assets should devolve to his parents in equal ratio (50:50). And as per the WILL of parents all their assets should be devolved to their married daughter as there was no other lagal heir.
The WILL of Mr A was challenged by his deserted wife Smt B and hence Smt C (married sister of deceased Mr A) filled a peteition of obtaining the PROBATE of the WILL.
In the due course in the year 2005 there was a settlement between Smt B (deserted wife of deceased Mr A) and Smt C (married sister of deceased Mr A) whereby Smt C paid Rs 5 lacs (lumpsum) to Smt B and inturn Smt B gave NOC in favour of Smt C for all the assets of Mr A (including the property).
In the year 2006 Smt B (deserted wife of Mr A) died, leaving behind Smt C (married sister of Mr A) as the sole legal heir.
Thereafter in the year 2008 PROBATE of Mr A's WILL was granted by the honourable Court. Now Smt C wants to make application for transfering Mr A's property in her own name.
Query - In the above case - does any of the transaction attract stamp duty under Bombay Stamp Act?
If yes, then at what rate and on what amount?
Amita Chaudhary
(Expert) 02 October 2010
well for getting probate Smt C must have paid the court fees and that is sufficient.. now with those probate certificate she can apply for transfer with the authorities ... as per me no stamp duty is required to be required..
Unnati
(Querist) 04 October 2010
Dear Amita,
Smt C being a woman, was exempted from payment of Court fees.
Smt C has been informed that she has to pay stamp duty under Bombay Stamp Act - Please guide..??
