Stamp Duty
Ruchi
(Querist) 14 May 2011
This query is : Resolved
Dear All,
We have a company registered in Andhra Pradesh,the company is availing financial assistance through ECB from the lenders who are located oversea, the lenders have requested us to mortgage a property of the company which is situated in Tamil Nadu, and they are of the opinion that the company have to shift its registered office to tamil nadu, because if they dont shift the registered office then stamp duty rates as applicable in Andhra Pradesh is applicable,which is higher when compared to tamil nadu.
Now my question is:
1. Is stamp duty rates applicable as per the state act,where property is situated or where the registered office?
2. Whether it is levied as per the place of transaction or where the document is brought in?
This is very urgent..Please guide through it.
A V Vishal
(Expert) 14 May 2011
Registered office need not be changed, since the property is in TN and the stamp duty as applicable in TN shall apply.
Ruchi
(Querist) 14 May 2011
Dear Vishal,
Thanks a lot...
However i have another query in this aspect..
After execution if we get the instrument to AP, do we have to pay any stamp duty...?
A V Vishal
(Expert) 14 May 2011
No there is no requirement
Ruchi
(Querist) 14 May 2011
Thanks...
Can u provide any case law in this aspect..
