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Adv.Shine Thomas (Advocate)     12 September 2008

Stamp Duty

Can Parliament increase or decrease,the stamp duty on an agreement?


Learning

 3 Replies

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

 Stamp Duty comes under the domain of State Govt.

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

As per Section 9 of the Indain Stamp Act, 1899 Government can reduce or remit whole or part of duties payable. Such reduction or remission can be in respect of whole or part of territories and also can be for particular class of persons. Government can also compound or consolidate duties in case of issue of shares or debentures by companies [section 9(1)]. ‘Government’ means Central Government in respect of stamp duties on bills of exchange, cheque, receipts etc. and ‘State Government’ in case of stamp duties on other documents [section 9(2)].


I hope this answers your question.

Adv.Shine Thomas (Advocate)     14 September 2008

thanks


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