which stamp duty payable
sanjeev murthy desai
(Querist) 25 February 2009
This query is : Resolved
Dear all
Document executed by the parties one month back and the parties will register the documents now. The stamp duty of the said document at the time of execution was 8.5% but now stmap duty has been revised and it is comedown to 6%. so what is the stamp duty payable today is it 8.5% or revised 6%?. Kindly sugest me in this regard. If you have any caselaws please inform me. I am awaiting for your responses. thank you,
yours
sanjeev desai
ARVIND JAIN
(Expert) 25 February 2009
STAMP DUTY ON THE DATE OF REGN.WILL BE APPLICABLE. NO CASE LAW NEEDED.
sanjeev murthy desai
(Querist) 25 February 2009
Thank you Aravind Sir.
Any rules or sections or circulers under stamp act in this regard.
ARVIND JAIN
(Expert) 25 February 2009
NO. THIS IS THE BASIC LAW.
sanjeev murthy desai
(Querist) 25 February 2009
Dear Aravind sir,
where it is mentioned as a basic law, please specify sir.
It is very urgent to my client and he is very presurring for me.
sanjeev desai
sanjeev murthy desai
(Querist) 25 February 2009
Dear Aravind sir,
where it is mentioned as a basic law, please specify sir.
It is very urgent to my client and he is very presurring for me.
sanjeev desai
PALNITKAR V.V.
(Expert) 25 February 2009
Rates applicable on the day of Registration have to be paid. The date of transaction or the day of execution of the document is not material. You can get the provision in the Manual and circulars kept in the office of the Registrar.
sanjeev murthy desai
(Querist) 26 February 2009
Dear Palnitkar sir,
Section 17 of the Indian stamp act held that all instruments chargeable with duty and executed by any person in india shall be stamped before or at the time of execution".
as per this section stamp duty should be payable at the time of execution.
But you have clarified as the rates are applicable on the day of registration.
Please clarify
sanjeev desai
arunprakaash.m.
(Expert) 26 February 2009
date of execution shall be considered.
