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Abhijit ppp (no)     25 July 2013

Impounding of receipt of part payment

Buyer did agreement, on rs. 100/- stamp paper and in notary, to buy property with seller. Cost of the property is 10 lacks. On agreement 2.5 lacks paid. After two months another 2 lacks (1cash and 1 chq) paid. On the receipt of 2 lacks no revenue stamp is used and it is on plain paper. The whole transaction could not be completed. After 2 years buyer went to court and file the case to complete the transaction. In case proceedings seller admit contract and other receipt. However, he denied 1 lack cash written in receipt. Court ordered impounding of receipt. Receipt and sent to registrar. Now registrar says they will check valuation of property and charge fees on the amount whichever is higher.

1)How much amt. should be charged for impounding on a receipt of rs. 2 lacks? (just because revenue stamp not used.) Any case law..

2)Is registrar correct asking for stamp duty on rs. 10 lacks? (though the transaction is not completed and may not be completed without court order)

3)What should be preyed to the court?



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 3 Replies

A.SUMATHY 9380902017 (LAWYER)     02 August 2013

In receipt revenue stamp charges only 1 or 2 Rs. only. Imponuding charges maximum 11 times. (actual + 10times penalty)

Verify the Stamps and Registration Act. It should be done by court also. Not necessary to sent to Registrar.

Abhijit ppp (no)     02 August 2013

Thank you, for your kind response.

Here, The court already sent the matter to the registrar. Registrar asking to pay stamp on full Amt. 10 lacks.

Pls. give any case law....

Thanks.

A.SUMATHY 9380902017 (LAWYER)     02 August 2013

Please go through Section 34, 35, 36,37,38 of Indian Stamp Act 1899 as per the statue the impounding authority is only the Court or Dist. Collector or such person as he may appoint his behalf. For receipts Section 34 is clear and only the requisite stamp to be substiuted.


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