Stamp duty
richa kapoor
(Querist) 08 February 2013
This query is : Resolved
please help me with the following queries:-
1)At what rate will the stamp duty be calculated when a property in delhi is registered in joint names first the name of the wife and second the name of the husband?
2) Who'se responsibility is it to pay the stamp duty in the former case?
3) who is entitled for tax benefit if the loan is taken by the wife for this property while the husband has taken loan for another property joint ownership with his parents?
thanks a lot in advance.
Raj Kumar Makkad
(Expert) 09 February 2013
1. It do not affect the rates of the stamp duty in Delhi whether the registered sale deed is executed in favour of joint names or in the name of single buyer.
2. Both jointly have to pay.
3. Both can take benefit of their respective share subject to the limitation of tax benefit.
Anirudh
(Expert) 09 February 2013
If the property is registered in the name of a lady / woman, then the stamp duty rate is less in delhi. However, if the names of both a lady and a gent is registered then it will not qualify for the lesser stamp duty.
2. As to who has to pay the stamp duty - whether the seller or the purchaser will have to be ascertained from the terms of the Agreement. However, if there are more members, like in the present case, who will be called the buyers, then it is for the buyers themselves to decide as to who will bear and how much they will bear, whether they will bear or on their behalf some one known to them or some of their relatives will give the money etc. etc. There is no hard and fast rule on this aspect. HOWEVER, THE FACT REMAINS THAT STAMP DUTY HAS TO BE PAID.
3. Since the loan is being taken by the wife and she only will be able to get benefit of payment of interest and nobody else.
R.K Nanda
(Expert) 09 February 2013
agree with Anirudh.
