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Devaraj Krishna (Legal Practitioner)     02 November 2010

Stamp duty for giving 5lakh credit

Hi all,

One of my friend is giving credit of 5 lakhs Rupees to his friend. Please guide me  what agreement has to be prepared for that and what is the stamp we have to pay.


Thanks & Regards

Devaraju K


 1 Replies

M.S.Bhalerao (advocate)     02 November 2010

if the period is upto 3years it will be  a short term loan and  a Demand Promisory note will suffice. If the period is longer then  a term loan agrrrement will  have to be executed. stamp duty will be according the  state regulations.

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