LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Vinod Kumar Arora (Partner: PATHFINDERS)     06 May 2012

Stamp duty on indemnity bond

The Insurance Policy Bond issued to my son by LIC of India has been lost and for getting the duplicate threof, LIC officer posted at Amritsar (Punjab) from where the policy was issued, is insisting for Idemnity Bond on Stamp Paper of Rs. 350/- whereas I have explained him that the highest Stamp Duty i.e. if the amount is in excess of Rs. 1000/- is Rs. 50/- in Punjab but he is not agrreable and telling that the Central Office of LIC of India had circulated that Idemnity Bond shall only be valid if the same is stamped with Rs. 350/- throught India. I tried my hard to convince that Stamp Duty is payable @ fixed by the State Governments like in Delhi it is Rs. 100/- and in Mumbai it is Rs. 200/- but of no use. Can anybody enlighten?  


 0 Replies

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Popular Discussion

view more »

Post a Suggestion for LCI Team
Post a Legal Query