200 rs or 100 rs stamp paper?

dvarunh (Querist) 23 September 2015 This query is : Resolved
gave a hand loan of 20 lakhs 3 years back, now i want to prepare a loan agreemnt with borrower.which stamp paper shall i use?
can i mention interest also?

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Sri Vijayan.A (Expert) 24 September 2015
Value of stamp duty depends on the state, where you are residing.

Generally, Rs.20 is enough.

Please concentrate on the wordings and clauses of the agreement.

Have this deed/ document prepared by local lawyer.
on Stamp paper matter, you can get relief u/s.35 of stamp act. So, concentrate on the terms and conditions of the loan deed.

Dr J C Vashista (Expert) 26 September 2015
You should contact, consult and engage a prudent local lawyer for such commercial query.

Rajendra K Goyal (Expert) 28 September 2015
This is dealing of heavy amount, take help of local lawyer.

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