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Sagnik (Management Trainee)     20 June 2012

Non payment of stamp duty on deed of pledge

Dear all,

What are the consequenses if I do not duly stamp a Deed of pledge in the state of West Bengal apart from its non  admissibility as an evidence.

Regards,

Sagnik  Sanyal



Learning

 2 Replies

Prasun Chandra Das (Banker)     20 June 2012

 

While in certain cases, sanction may be accorded by the courts or authorities to admit an unstamped or insufficiently stamped document on payment of penalty in addition to the stamp duty determined to be payable under the law, the following documents will be considered invalid if they are unstamped or under stamped -:

1) Demand Promissory Notes

 

2) Usance Bill of Exchange

The unstamped/under stamped documents are liable to be impounded by the stamp inspecting government officials. For  averting an impounding of unstamped or under stamped documents, care should be taken to see that they have been adequately stamped.  Extra care should be taken before the documents are filed in any Court of Law or Government Offices in any suit or other proceedings.

 

pervez (adviser)     20 June 2012

The doc. can still be made admissible in court provided court grant permission for the same and 10 times penalty is paid in respect of defecit stamp duty....


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