Legal Question in Real Estate Law in India
Stamp duty
I had purchased flat in the year 1984 and the agreement was made in May 1984 jointly with my wife for Rs.2.40 lacs. Please let me know if i need to pay stamp duty and the amount . Fyi we have the share certificates of the said Flat.
3 Answers from Attorneys
Re: Stamp duty
Since your agreement is prior to Dec'85, no stamp duty thereon.
In case, conveyance of land and building is not complete in favour of the Society, then you will be require to contribute for stamp duty and registration charges on conveyance.
Re: Stamp duty
You are not liable to pay stamp duty, but to confirm the same please submit the same in the Amnesty Scheme for Stamp Duty 2008.
Re: Stamp duty
The stamp duty varies from place to place and also depend upon nature of transaction.
If it was a "sale", the duty is paid at the time of purchase; if it is an alloment by Society or a developer, the duty may be payable when you go for conveyance deed.
What is the occasion now after 24 years for you to ask about Stamp
Duty payment? Please clarify your question.
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