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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.

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Is a tenant reliable to pay stamp duty land tax?

no the tenant is not obligated to pay the stamp duty or the land tax it is an obligation on the part of the owner or land lard to pay it


What is accounting journal entry for stamp duty?

A stamp duty is typically recorded as an expense in the accounting journal. The journal entry would involve debiting the appropriate expense account (e.g., "Stamp Duty Expense") and crediting the cash or accounts payable account, depending on whether the payment is made immediately or deferred. For example, if a company pays $1,000 in stamp duty, the entry would be: Debit: Stamp Duty Expense $1,000 Credit: Cash/Accounts Payable $1,000.


How much stamp duty charges is applicable for usance period of 180 days letter of credit?

Rate of payment of stamp duty is a subject matter of state so it is leaviable accordingly.


Who is liable for Turnover tax?

The person whose annual turnover is above 5,00,000. He is liable to pay tot tax


How much stamp duty on the authorized share capital for Rs 10000000?

The stamp duty on authorized share capital can vary significantly based on the jurisdiction and specific regulations in place. In India, for example, the stamp duty on authorized share capital is typically calculated as a percentage of the capital, which can range from 0.1% to 0.5% depending on the state. For an authorized share capital of Rs 10,000,000, the stamp duty could be between Rs 10,000 to Rs 50,000. It is advisable to consult local regulations or a legal expert for precise calculations.

Related Questions

Do you pay stamp duty on vat?

no


When is stamp duty applied?

do I have to pay stamp duty on a retirement unit, it is in Glenvale Gardens Toowoomba


Do you have to pay stamp duty when selling a house?

Yes, in most cases, you have to pay stamp duty when selling a house. Stamp duty is a tax imposed by the government on the transfer of property ownership. The amount of stamp duty varies depending on the property's value and location.


Is a tenant reliable to pay stamp duty land tax?

no the tenant is not obligated to pay the stamp duty or the land tax it is an obligation on the part of the owner or land lard to pay it


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 happens when the executor spends the estates money and does not pay bills?

They have breached their fiduciary duty. They can be held liable and prosecuted for theft.


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.


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.


Can the stamp duty and registration charges for registered mortgage be shared with the owner?

Yes, it can be shared if mutually agreed by both the party. Normally the mortgagor pay the duty. C P Sagar


How can the word liable be used in a sentence?

The two common meanings of liable are: 1. likely to do or be something 2. Owing a duty (responsibility) in law. An example of the first usage would be: 1. Those who do not work hard at school are liable to regret it later in life. And for the second usage: 2. The defendant is liable to pay damages to the amount of £500.