stamp duty

Querist : Anonymous (Querist) 16 April 2010 This query is : Resolved
dear sirs,

is is necessary to have annual maintenance contracts on stamp papers? if so what should be the value of the stamp paper for the AMC of a lift for yearly payment of Rs.7200/-.
thanks.

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Raj Kumar Makkad (Expert) 17 April 2010
No. It is not necessary to get it renewed every year and it can be given for some more period like 10 years. The value of stamp paper is vey nominal in such cases. It can be drafted only on the stamp paper of Rs. 100/-.

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