Stamp Duty in mumbai

Querist : Anonymous (Querist) 22 July 2011 This query is : Resolved
Dear Experts,

i have following questions.
1) What will be the Stamp duty on Reconveyance in mumbai?

2) if i purchase i flat and pay proper stamp duty, what will be the stamp duty if i sell out the same flat within 1 year?
is there any concession in bombay stamp Act for the purchaser or Vendor in that regard?

Thank U in advance.

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R.Ramachandran (Expert) 22 July 2011
There are no such concession in stamp duty.
On the contrary, the gain that you make in sale of the property would be subject to income tax at normal rates.

Querist : Anonymous (Querist) 25 July 2011
Thank you so much Mr. R.Ramachandran.

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