What is agreement stamp
P.Patel
(Querist) 20 February 2013
This query is : Resolved
Dear All,
I am looking for answer to following doubts/questions:
Q1 : What is Agreement stamp?
Q2 : What is the difference between Agreement Stamp & Paper Stamp Paper for Deep/Affidavite etc.??
Q3 : Memorandum of Marriage Guajrat Form asking to affix agreemnt stamp of Rs.100???? what does it means??
Regards,
P.Patel
Devajyoti Barman
(Expert) 20 February 2013
Academic query.
Put your actual problem.
R.K Nanda
(Expert) 20 February 2013
academic query.
P.Patel
(Querist) 20 February 2013
What different it does make whether it is of Academic Kind or else.
It is not mandatory to reply if u don't have any idea instead categorizing in "Academic Query" and so on....
It means being an expert here, u don't know the answer of this so called "Academic Query"????
Attitude of such kind is the major reason for None-development in India.
Regards,
P. Patel
prabhakar singh
(Expert) 20 February 2013
The Constitution of India has provided provisions for levying taxes. Tax is levied in the form of stamps on instruments recording the transactions. This form of taxation has been found to be convenient for collection and supervision. The stamp Act is Fiscal statue dealing with tax on transactions. Article 246 and the 7th schedule are relevant in regard to the legislative power to levy stamp duties. Article 265,268 and 269(e) are relevant mainly as regards the distribution of revenue. The proceeds of stamp duty leviable in any financial year shall we assigned to the state. Under Article 246 such stamp duties as are mentioned in a list are levied by the Union, but under Article 268 the state in which they are levied collects and retains the proceeds. As the revenue from stamp duty is assigned to the state in which they are collected each State Government has prescribed by rule that stamps purchased in the state alone should be used for instruments executed in it.
Tax is levied in the form of stamp in respect of transactions in instruments like Bill of exchange, letter of credit, Debenture, policy of insurance, Agreement or memorandum of Agreement, lease cum sale, sale of property, deposit of deeds, conveyance etc as defined in schedule 2 of Stamp Act. As provided in the Stamp Act all duties with which any instruments are chargeable shall be paid and such payment shall be indicated on such instrument by means of impressed stamps or stamps issued by the Government An instrument to be duly stamped should be stamped with a stamp not only of the amount required by law but also in the manner prescribed by law.
The stamp duty payable on an instrument may also be paid in cash by Challan in banking treasury or treasury countersigned by an officer empowered by a State Government or by Demand draft or by pay order drawn on branch of any scheduled bank.
The instruments may be stamped with Adhesive stamp. There shall be two kinds of stamp for indicating the payment of duty.
1) Impressed stamps
2) Adhesive stamps
Impressed stamps includes:
a) Labels affixed and impressed by the proper officer
b) Stamps embossed or engraved on stamped paper
c) Impressions by franking machines.
prabhakar singh
(Expert) 20 February 2013
The Constitution of India has provided provisions for levying taxes. Tax is levied in the form of stamps on instruments recording the transactions. This form of taxation has been found to be convenient for collection and supervision. The stamp Act is Fiscal statue dealing with tax on transactions. Article 246 and the 7th schedule are relevant in regard to the legislative power to levy stamp duties. Article 265,268 and 269(e) are relevant mainly as regards the distribution of revenue. The proceeds of stamp duty leviable in any financial year shall we assigned to the state. Under Article 246 such stamp duties as are mentioned in a list are levied by the Union, but under Article 268 the state in which they are levied collects and retains the proceeds. As the revenue from stamp duty is assigned to the state in which they are collected each State Government has prescribed by rule that stamps purchased in the state alone should be used for instruments executed in it.
Tax is levied in the form of stamp in respect of transactions in instruments like Bill of exchange, letter of credit, Debenture, policy of insurance, Agreement or memorandum of Agreement, lease cum sale, sale of property, deposit of deeds, conveyance etc as defined in schedule 2 of Stamp Act. As provided in the Stamp Act all duties with which any instruments are chargeable shall be paid and such payment shall be indicated on such instrument by means of impressed stamps or stamps issued by the Government An instrument to be duly stamped should be stamped with a stamp not only of the amount required by law but also in the manner prescribed by law.
The stamp duty payable on an instrument may also be paid in cash by Challan in banking treasury or treasury countersigned by an officer empowered by a State Government or by Demand draft or by pay order drawn on branch of any scheduled bank.
The instruments may be stamped with Adhesive stamp. There shall be two kinds of stamp for indicating the payment of duty.
1) Impressed stamps
2) Adhesive stamps
Impressed stamps includes:
a) Labels affixed and impressed by the proper officer
b) Stamps embossed or engraved on stamped paper
c) Impressions by franking machines.
R.K Nanda
(Expert) 20 February 2013
this is no law coaching classes.
prabhakar singh
(Expert) 20 February 2013
One should not challenge knowledge of experts.
One should simply put facts as query should not ask about what an Act or law is.?
I have told you every thing about stamps,now it is your turn to understand and comprehend it.I am not going to explain it any more further.
R.K Nanda
(Expert) 20 February 2013
how much u have developed?
R.K Nanda
(Expert) 20 February 2013
agree with Prabhakarji.
P.Patel
(Querist) 20 February 2013
I salute Mr.Prabhakar Singh,
And thank you very much for explaining and broaden my view about stamp duties on transaction instrument levied and collected.
I believe that only a person with a wide experience and practice can only explain such thing with refer to Constitution of India and Article.
We proud to have a such an expert solicitor giving their valuable time for guiding a person’s seeing help here instead categorizing the questions in various category like “Academic Query” and so.
Once again thank you very much sir.
Regards,
P.Patel
R.K Nanda
(Expert) 20 February 2013
u need lawyers and want to condemn them also?
BRAVO.
R.K Nanda
(Expert) 20 February 2013
this proves that how much ur developed?
