Stamp Duty on Power of Attorney

Thank you for providing such valuable info.

DEAR SIR,

YOUR VALUABLE INFORMATION WILL BE OF REAL HELP TO THE PEOPLE.

its a valuable info.

thanks for the information

with Effect from 2nd May, 2008 there has been amendment in the Bombay Stamp Act i.e.

Amendment to Article 48(f)

The stamp duty on the Power of Attorney given even if without consideration with the right to sell or transfer the immovable property is now payable as per Article 25 (conveyance ) of the Bombay Stamp Act i.e. 5%.

However if such POA is given to a family member then the stamp duty is payable @ Rs. 500/-

NOW MY QUESTION IS, UNDER THIS ARTICLE 48(F)(II)(A), DOES UNCLE ALSO COME AS OTHER CLOSE RELATIVE.

IF YES THEN PLEASE GIVE ME ANY CASE LAW CONCERING IT.

with Effect from 2nd May, 2008 there has been amendment in the Bombay Stamp Act i.e.

Amendment to Article 48(f)

The stamp duty on the Power of Attorney given even if without consideration with the right to sell or transfer the immovable property is now payable as per Article 25 (conveyance ) of the Bombay Stamp Act i.e. 5%.

However if such POA is given to a family member then the stamp duty is payable @ Rs. 500/-

NOW MY QUESTION IS, UNDER THIS ARTICLE 48(F)(II)(A), DOES UNCLE ALSO COME AS OTHER CLOSE RELATIVE.

IF YES THEN PLEASE GIVE ME ANY CASE LAW CONCERING IT.

WHAT WILL BE THE STAMP FEE IF UNCLE TRANSFERS ANY IMMOVABLE PROPERTY TO HIS NEPHEW?

Yes you can execute power of attorney in favor of your uncle and stamp duty will be only Rs.500 as clause 48(f) covers all the relatives.