Dhiraj Agrawal (Owner) 09 June 2010

Need Help: Stamp Act Article 18 of Schedule I-B

Respected Member,

I have purchase a property by Public Auction through Kotak Mahindra Bank, a paid stamp duty on Purchased Amount.

But Registrar-II, Allahabad Object on that and said that you have pay stamp duty on Circle rates.

As rebate can be given to you under Stamp Act Article 18 of Schedule I-B, to nationalised bank only and your bank is Private.
Please Provide me proper guidance.

Thanks

Dhiraj Agrawal
90F/10M, Rajroopur,
Allahabad, U.P.- 211011
Ph.: 9793459747

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2 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh) 12 June 2010

The objection of the Registrar is absolutely correct and you have to pay stamp duty as per circle rate prescribed by State authorities and benefit of bank cannot be enlarged to you in the given facts.

Dhiraj Agrawal (Owner) 12 June 2010

Dear Sir,

Registrar told me that we are giving the rebate under article 18 of Schedule I-B to Nationalised Bank, when a public auction is occur, not to other banks. It this correct.

Because Kotak Mahindra Says that they have got rebate in many other sale deeds.

Thanks.

Dhiraj Agrawal