Law of Contract,1872 and Indian Stamp Act,1899
Kunwar Mohd Asad
(Querist) 23 July 2011
This query is : Resolved
In case of an Indemnity Clause in an agreement, do we require to affix additional stamp duty prescribed for Indemnity as per the State Stamp Act?
M V Gupta
(Expert) 24 July 2011
Yes.Indemnity constitutes a separately chargeable commitment.
The agreement will attract two duties- one as agreement and the other the duty payable on the indemnity clause.