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Will the stamp duty for an indemnity bond change if it is attested by witness?
Wiki User
∙ 11y ago
I can try to answer with respect to the legal status of stamp duty indemnity bond in India.
Firstly, an indemnity bond, anyway, will have to be attested. In other words, there cannot be a valid indemnity bond without being attested.
Secondly, indemnity bond is an instrument which is on the state list of the Indian Constitution, meaning, it is governed by State Statutes. The Bombay Stamp Act, which provides for Stamp Duty in the State of Maharashtra, levies (a straight/ uniform) stamp duty of Rs. 200/- on an indemnity bond executed in Maharashtra.
Thus, stamp duty chargeable on an indemnity bond will notchange if it is attested by a witness, rather it has to be compulsorily attested.
Wiki User
∙ 11y ago
Stamp duty for an indemnity bond typically does not change based on whether it is attested by a witness. The stamp duty is usually calculated based on the value of the bond and the relevant regulations in the jurisdiction where the bond is being executed. It is important to check with local authorities or legal experts for specific guidance.
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