SOURABH GUPTA (PROFESSIONAL) 12 June 2013

Regarding stam papers & notar attestation

Dear Friends,

I have some queries on the purchase of stamp papers for any agreements and notary attestions:

1. In case of any rent agreement or sale agreement - from which state we have to purchase the stamp papers. Either from that state at where the agreement is being executed or from any one of the city from where either the party to an agreement is residing ? Please clarify and suggest.

2. What should be the proper way of notary attestation in that case. Either agreeements should be notarised from the same city from where stamp papers are purchased or from that city where the agreemen took place.

3. What is exact position of law regarding purchase of stamp papers for any purpose/agreement/undertaking etc. and notary attestation.

I hope that my learned members will certainly guide me.

Thanks

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1 Replies

Prasun Chandra Das (Banker) 12 June 2013

My answers are as follows:

1) Rent or Sale agreement - generally non judicial stamp paper (njsp) is to be purchased in the place/state where the agreement is being exexuted/signed. In cases where there are 2 executants living in 2 different states (say UP & MP), the njsp may be bought at one of the states (say UP), executed by Mr A at UP, and then the njsp will be taken to MP and Mr Y will sign at MP. Point to note is that if stamp duty for the particular agreement at MP is more than that of UP, then additional stamp duty needs to be paid by attaching another njsp.

2) Notary attestation is the process where the executants sign "in the presence of" the notary public. This does not depend upon which city/state the njsp is purchased. If the njsp is executed at 2 different places, I am not sure how the notary will attest.

3) Law for stamping etc are covered under Indian stamp act and the state acts. Indian stamp act is applicable to those documents where uniform stamp duty is to be paid across the whole of India (bill of exhange, promissory notes, insurance receipts, bill of lading, etc). For all other documents, state govts determine the stamp duty to be paid for each & every type of documents.