Refund of stamp duty paid for re-registration of lease deed with registarar
P T Giridharan
(Querist) 11 December 2015
This query is : Resolved
a lease deed was entered by one of the family members with a bank for renting family owned property for 15 years. Since death occurred of the member in respect of GPA, the bank told the family to enter into fresh lease of agreement for the remaining period of lease i.e. 9 years. Stamp duty was already paid for 15 years of lease in the first instance and the bank again insisted for re-registration on which again stamp duty was paid towards the commercial rent paid by the bank.
It is felt that stamp duty again paid (as suggested by the bank panel lawyer) is not correct) that it is only payable to the extent of Rs.100.
can we claim refund of stamp duty paid to the extent of Rs.50,000 (earlier paid amount was Rs.65,000) is it possible and if so what is the procedure
kavksatyanarayana
(Expert) 11 December 2015
author, the bank and legal heirs of the death person shall execute surrender of Lease as the person died was the party of the original lease. then a fresh lease be executed. surrender of lease costs less stamp duty and registration fee. stamp duty shall be paid on the fresh lease deed.
Rajendra K Goyal
(Expert) 12 December 2015
who executed lease deed? Who and to whom b entrusted GPA? Whether principal expired? How many members of the family were the owners?
Discuss the requirement of fresh lease deed with your lawyer?
T. Kalaiselvan, Advocate
(Expert) 19 December 2015
Actually the stamp duty is to be borne by the lessee and not by the lessor, please confirm this first.
s suggested by experts above, the existing lease deed is to be surrendered and refund proportionately may be claimed and stamp duty on fresh lease deed for the remaining period is to be paid.
