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Sarika   16 November 2017

Stamp duty on cancellation of deed of assignment

A Deed of Assignment of a garage is executed and registered on 15/09/2017. The parties want to canel the Deed of Assignment mutually. What shall be the stamp duty and registration charges for the cancellation of the Deed of Assignment? Do the parties need to pay the stamp duty on the property value?



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 2 Replies

Kumar Doab (FIN)     16 November 2017

Check locally in the state if said Deed of Assignment can be cancelled and authority shall register it.

Some publications for some suggest that it won't be accepted.

Kumar Doab (FIN)     16 November 2017

Or re-conveyance of property is the recourse with payment of applicable stamp duty.

Or declaration suit for cancellation of said Deed of Assignment is the recourse.

Or cancellation on voidable grounds (if any exists) and with consent of both parties and no more fresh payment of stamp duty.

Stamp duty and registration charges being local subject can be inquired from local office of registering authority.

You may check with local counsels handling such matters.

You may wait for posts for members/experts from your state.


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