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stamp paper

(Querist) 06 January 2010 This query is : Resolved 
i have a doubt. according to the stamps act in most of the states a particular percentage of stamp duty is to be paid for agreements of sale for immovable propertty. in andhra pradesh it is 5 percent. but almost all agreements of sale for immovable property are made on only Rs.100 stamp paper even if the property worth a crore. how is this permitted?
Raj Kumar Makkad (Expert) 06 January 2010
Agreement is not necessarily a registrable document so there is no necessity to impose such heavy stamp paper thereon. When the agreement takes the shape of a registered deed then the whole stamp duty is imposed thereon.
joyce (Expert) 06 January 2010
if any document is to be registered then stamp duty applies otherwise no, 100 rs or even sometimes 50 rs stamp papers are used.
Kumar Thadhani (Expert) 06 January 2010
I do agree with Experts MR.makkad andMADAME joce.
Deekshitulu.V.S.R (Expert) 07 January 2010
Under A.P.Stamp Act, under Art 6 it is said Agreement not otherwise provided for has to be stamped at Rs. 100/- only. As per the said Act, Agreement coupled with possession are to be stamped as per Art 47-A. If the agreement is simpliciter then the maximum stamp duty is only Rs. 100/- and this will change dependidng on the value of the property purchased.
prabhat (Querist) 09 January 2010
thanks everyone.


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