Dear All,
Agreement-1:- My Investor has purchased Flat from Developer/Builder @ Rs. 35,00,000 in 04/2012 and paid stamp duty of Rs. 192600/-
Agreement-2:- Now I have purchased same Flat from Investor @ Rs. 33,50, 000/- in 05/2012 paying stamp duty of Rs. 1000 only.
My question to you is:-
- What is the calculation for stamp duty set-off? Is there any % limit on adjustment?
( For Example if my investor has paid duty 5.5% on total agreement-1 value then the set off under article 5 of Schedule 1 is taken for max 5.5% or less for Agreement -2.}
- Is Paid Stamp duty of Rs. 1000 correct on sale agreement-2 ( between me & investor)?
(I wanted to know the adjustment done to get set-off on stamp duty by us under article 5 of Schedule 1 by paying Rs. 1000 only is correct and No more stamp duty was supposed to pay for agrrement-2)
I am sorry that I am asking this question after 6 years as our lawyer ( who is doing conveyance deed of our society) informed me that we have made error in stamp duty adjustment and was supposed to pay more stamp duty amount than Rs. 1000.
Thanks & regards,
Mangesh
