Poa stamp duty and its adjustment in sale deed stamp duty
Balasubramanian R
(Querist) 12 April 2018
This query is : Resolved
I need a clarification on the following: One flat is owned by my son and his wife in Bangalore. Both of them are NRIs. Both of them have given me power of attorney to sell the flat. What would be the stamp duty for registration of POA ?. Whether any stamp duty paid while registering the POA can be adjusted while registering the sale deed. I understand that I have to pay now 5 % duty on my daughter-in-law share of 50% of guidance value. I would like to know that this stamp duty on POA can be adjusted against the stamp duty at the time of sale deed registration. Please advice me. Please also give reference to Karnataka Stamp Act or any clarification given by Government. Thanks and regards.
Ms.Usha Kapoor
(Expert) 18 April 2018
Advocate Ajay Sethi NOW!
The stamp duty paid on any instrument preceding the execution of sale deed cannot be adjusted towards the stamp duty payable on the sale deed unless the stamp duty paid in the case of former instrument was in excess of what was required to be paid. So you must ascertain locally from the office of sub-registrar as to whether the stamp duty on POA was paid in excess or not.
