Stamp duty for will deed
Advocate.Amol Choubal
(Querist) 31 July 2012
This query is : Resolved
Sir,
I would like to draft Will deed
May i know how much stamp duty is to be paid if the Deed is to be executed in maharashtra
Please reply
c.p.s. ramachary
(Expert) 31 July 2012
First of all will is not a deed. Please remember. Will does not attract any stamp duty or registration for two simple reasons viz. will comes into operation only after death of its maker; another reason is that the will maker can cancel the will any number of times.
However sealed cover(in which will can be put)registration is allowed. You have to contact the concerned Registrar for ascertaining registration fee for the sealed cover.
prabhakar singh
(Expert) 31 July 2012
"First of all will is not a deed." is a statement with which i , with due apology to Mr.Ranachary,shall like to differ.To begin with 'Any action that is performed intentionally or consciously'is called DEED.So in law, we call our such actions as deed which is reduced in writing.Will is also an action performed intentionally and consciously and of course is a deed.To impose or not to impose stamp duty on any such deeds is a matter of state's taxation policy and that has nothing to do with what a deed is and what not a deed is.
Suppose government finds some other fine way to generate revenue which in it's opinion is greater profitable operation than stamp duty and therefore it drops to impose stamp duties then?shall we not call a sale deed ,a sale deed?a gift deed, a gift deed?....
With rest of his opinion i agree.
