Legal Question in Real Estate Law in India

Amnesty Scheme SD 2008
The stamp duty amnesty scheme 2008 only talks about the Societies which do not have Conveyance. It also tells us that the agreements / documents executed prior to 9.12.1985 are liable to pay the Stamp duty; again this is based on the premise that the society has not got the conveyance. And conveyance will not be effected until all the members of the society have paid the stamp duty.

What about the old Societies which already had conveyance prior to 9.12.1985?
Here there are many members who have bought their flats prior to 9.12.1985 on an agreement from earlier member in the prescribed Rs. 5/- stamp paper.

It is pertinent to note that the order of the Hon?ble Bombay High Court ? document executed before December 10.12.1985, attracts stamp duty of Rs. 5/- only.

Further it was given to under stand that though agreements prior to 10.12 1985 were made on Rs. 5/- stamp papers for transactions but were not registered with the Registrar the, Hsg Societies used to transfer shares on the basis of these agreements. Here again if Society has already Conveyance, are these Members/ flat owners liable to pay any stamp duty if they proceed for Registration?

Asked on 8/21/08, 4:30 am

Shrichand Nahar S.V.Nahar, Advocate

0 users found helpful

0 attorneys agreed

Re: Amnesty Scheme SD 2008

Stamp Duty and Registration are two different things.

If a document or an agreement was executed prior to Dec 1985, then same can not be registered now in view of provisions of the Registration Act.

The Amnesty Scheme is only for stamp duty and not for registration.

Answered on 8/22/08, 4:03 am

Keywords

Match Any Match All

Country

State

Area of Law