Legal Question in Real Estate Law in India
Stamp duty amnesty scheme
I have one of my agrrements in my chain of transactions , with no stamp (not even rs 5 )in the year 1989 .
The stamp authority in bombay treats this as invalid and wants me to pay 200 percent penalty on it . Since the this was the first buyer in this agreement bought f4rom builder and the society in 1991 when formed admitted the firast buyer as the first share certificate holder , there is documentary proof that the transactionwas valid ..Why should i pay 200 percent...When my documents are not forged and there is proof from society that indeed the first buyer was made the first shareholder
2 Answers from Attorneys
Re: Stamp duty amnesty scheme
The Amnesty Scheme provides that document on plain paper are not eligible for concession.
Re: Stamp duty amnesty scheme
It is not compulsory for you make the payment of stamp duty at this stage when you own the property for the last twenty years.
However, by payment of stamp duty you will obtain a legal document about proof of your title.
You may take a decision depending upon your requirement.
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