Hi!
My father had a locker at State Bank . He passed away without leaving a nominee . Bank Manager mentioned that we might have to get a sucession certificate and then locker would be opened and inventory list be prepared and valued for stamp duty purposes.
In this locker what he(father) has is mostly property papers and Fixed Deposit Certificates.
My question is , how much stamp duty be levied on Fixed Deposits ? As per my understanding that on the property , stamp duty be levied when the transfer of title is initiated hence property papers should not incur any stamp duties during inventory list preparation . What about FD Receipts ? Do we have to pay stamp duty for them ?
For eg , if we have lets say multiple FD Certificates with total worth 5 lac, how much would we be paying in stamp duty .
Would appreciate if someone can throw some light on it .
