Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Adv.Shine Thomas (Advocate)     12 September 2008

Calculation of Stamp Duty

A document creates lease of property X and also grants a gift of property Y.How is the stamp duty to be calculated on this document?


Learning

 3 Replies

Priya Ranjan (Sr. Ex.Legal)     12 September 2008

when there is a Lease it can't be a gift as lease has monetary compliances with it  whereas gift is given for affection . You canot gift something after receiving a price for it  

Archit (Sr. Manager- Secretarial & Legal)     12 September 2008

Please see section 5 of the Indian Stamp Act, 1899. As per this section where one instrument relates to several distinct matters, stamp duty payable is aggregate amount of stamp duties payable on separate instruments. 


Therefore in order to ascertain the total stamp duty payable on the instrument (since the instrument relates to more than one matter) you would have to add up the stamp duty payable on lease of property X and the stamp duty payable on the Gift of Property Y.


I hope this answers ur query.


Archit Sood


BCom ACS LLB


 

Adv.Shine Thomas (Advocate)     14 September 2008

Thanks for your valuable informations


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register