Dear All,
I have a doubt as regards Stamp Duty. Brief facts are as follows :
In 2006,I have purchased a Residential Flat via Auction from a Government Body for say Rs.9 Lakhs. The Seller gave an Indenture for Sale to Purchaser in 2009. The same document was put for Adjudication for Stamp Duty purpose.
My Questions:
- Should the Stamp Duty be levied on the Consideration of Rs.9 Lakhs or Market Value?
- There is a circular issued which is specified in your book which says that "when a property has been purchased from Govt. , Semi-Govt., LIC etc., then for Stamp Duty Valuation the consideration agreed by the Govt Body.(Seller) is to be taken for Stamp Duty Valuation". So what should be the Value to be taken for Stamp Duty for the above case ?
- Does Article 16 of Bombay Stamp Act applicable to the above circumstances ?
- Is there any new circular which nullifies the above circular I had quoted?
Please guide me.
Your help will be deeply appreciated.
