Mumbai Stamp Duty w. ref. to. Year 1976

kavkaz (Querist) 14 February 2017 This query is : Resolved
Respected Sir/Madam,

Please guide me on whether it is mandatory to pay the Registration and Stamp Duty fees now for a Mumbai based flat purchased by my deceased father in the Year 1976 (when it was not compulsory to pay such fees in 1976 in Maharashtra).

I am asking this question as the above said property was a disputed property in Supreme Court and now the decision is in my favour. As I want to admit my name in the society, what should I do as Stamp Duty and Registration are not made on this agreement.

I would really appreciate your valuable inputs / suggestions in this matter.

Regards.

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Adv Akhtar Ali Sheikh (Expert) 18 February 2017
Registration is now time barred (possible under 4+4 months). Stamp duty can be paid on the said document on consideration amount which would be 15% on the first 50000 and 12% on the next 50000 and lastly 10% percent on the remaining (if any).
Stamp duty has been mandatory for more than 100 years first under Indian Stamp Act, 1899 and next under Bombay Stamp Act, 1958.
Over and above the payable stamp duty additional penalty of 400% too would be levied.