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It is a tax, similar to sales tax [VAT] and income tax collected by the government. Stamp Duty is payable under Section 3 of the Bombay Stamp Act, 1958.
Different amount of Stamp Duty is payable for different type of documents as per Schedule-1 of The Bombay Stamp Act, 1958. Stamp Duty must be paid in full and on time.
If there is a delay in payment stamp duty, it attracts penalty.
A stamp duty paid document is considered a proper and legal document and as such gets evidentiary value and is admitted as evidence in the court.
Document not properly stamped, is not admitted as evidence by the court.
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Who should pay the Stamp duty for Loan Agreement - Bank or Loan applicant - Why?
The Home buyer has to pay a certain amount of money as stamp duty on the loan amount, which is known as stamp duty loan. Percentage of stamp duty loan depends on the value of the residential property that the buyer is buying. Paying stamp duty is compulsory while purchasing a residential property as its registration.
How do you calculate the stamp duty on life insurance contracts in India?
Generally for an insurance contract there could be more than 1 covers. One mandatory and others optional i.e. Base cover (mandatory) and rider covers (Optional). Stamp duty is applicable only on base cover sum assured. Stamp duty is calculated as percentage (currently 0.02%, may chagne as per laws) of base cover sum assured. No stamp duty appliable on rider Sum assured.
Would stamp duty required or not on bill of exchange of 120 days in inland letter of credit?
The stamp duty can be different in each country. If you are unsure of the cost or of the proper way of dealing with it, it is best to visit your post office for assistance.
What is the stamp duty on equitable mortgage in UP?
0.50% K U Khan Aligarh
What is thestamp act?
The Stamp Act 1765 was an act of British Parliament levying a tax on the American colonies by imposing a stamp duty on legal and commercial documents. It was repealed in 1766.
Where are Stamp Duty Payment Centres in Post Office?
List of Post Offices Authorised, by Government of Maharashtra, for Franking of Stamp Duty.Post Master, Andheri Head Post Office,Mumbai - 400 053.Sub-Post Master, Malad N.D. Post Office,Malad West, Mumbai - 400 064.Sub-Post Master, Secretariate Post Office,Mumbai - 400 032.
Can you claim stamp duty for tax?
You can claim stamp duty for tax because when purchasing property, stamp duty is only included in its cost base.
Where can you buy non-judicial stamp paper in mumbai?
You can buy non-judicial stamp paper from stamp paper dealers in Mumbai. The non-judicial paper is only valid for 6 months after its purchase.
When is stamp duty applied?
do I have to pay stamp duty on a retirement unit, it is in Glenvale Gardens Toowoomba
What is the stamp duty act in India?
What was the year when stamp duty act passed in Maharashtra (INDIA) ?
What is the stamp duty on scripless shares in Singapore?
No Singapore stamp duty is payable on scripless shares in Singapore companies as Singapore stamp duty (as far as share transfers are concerned) is a tax payable on the instrument of transfer. Where there is no such instrument, stamp duty does not arise. Shari
How can one determine the stamp duty in NSW?
One can determine the stamp duty in NSW using a special calculator. It calculates the stamp duty after entering the amount borrowed as well as the purchase price.
Who is liable to pay Stamp Duty?
The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30, of Bombay Stamp Act, 1958 states the liability for payment of stamp duty. For More Information Visit : stampdutyregistration.com
Who should pay the Stamp duty for Loan Agreement - Bank or Loan applicant - Why?
The Home buyer has to pay a certain amount of money as stamp duty on the loan amount, which is known as stamp duty loan. Percentage of stamp duty loan depends on the value of the residential property that the buyer is buying. Paying stamp duty is compulsory while purchasing a residential property as its registration.
What is the level for stamp duty?
it is quill
Do you pay stamp duty on vat?
no
What has the author A C Harper written?
A. C. Harper has written: 'Stamp duty and capital duty' -- subject(s): Stamp-duties
