stamp duty on rent lease deeds
kamal kapoor
(Querist) 25 April 2010
This query is : Resolved
our company signed an agreement to lease only to take one shop on rent at upcoming Meelange Mall at Meerut with the mall management for nine years and gave three month deposit.In the meantime the shop was sold to some individual and were asked to sign the lease agreement with this party. But on completion we find the mall may not attract footfall we therefore entered into 11 months agreement with the new owner and again signed one more 11 months agreement on reduced rent now since the mall was not doing well.
we vacated the shop before this agreement expires.
now we are being asked by the Meerut stamp duty collector to pay stamp duty on both these agreements since we have given deposit.
pl clarify whether we are liable to pay the deposit?
A V Vishal
(Expert) 25 April 2010
Yes under the Indian Stamps Act, you are liable to pay stamp duty on the deposit amount.
Gulshan Tanwar
(Expert) 26 April 2010
pay the demand else receive the penal action
kamal kapoor
(Querist) 28 April 2010
Can you pl inform how the calculation works??