Stamp duty
Kunwar Mohd Asad
(Querist) 26 January 2012
This query is : Resolved
Dear Sir,
Stamp Duty once paid can be refunded? If yes, How?
For Example:
If an agreement (For rent) was made for the period of 5 yrs and stamp duty was paid for the same. But after 2 yrs due to any reason (tenant-landlord)got separate , Can the remaining stamp duty for 3yrs refundable?
Support opinion with case law.
V R SHROFF
(Expert) 26 January 2012
NO , AS YOU DID NOT CANCEL THE arg
Raj Kumar Makkad
(Expert) 26 January 2012
Refund of the stamp duty is possible only if stamp duty is paid on an instrument but the instrument is not signed by any party then an application is to be made within 6 months of the date of purchase of the stamp paper, to the concerned authorities for refund of stamp duty. The original stamp paper is returned alongwith the application. On receipt of such application, the concerned authorities are empowered to refund the value of stamp duty after deducting such amounts as may prescribed.
On the basis of aforesaid provision, there is no chance of refund.
Sailesh Kumar Shah
(Expert) 26 January 2012
Stamp Duty once paid can be refunded? If yes, How?
Answer: No way to refund if stamp duty paid on that document, which was duly executed by both parties.
Kunwar Mohd Asad
(Querist) 26 January 2012
Thanks for valuable answers. Any reference of law/ precedent?
Raj Kumar Makkad
(Expert) 27 January 2012
There is no requirement of any citation because this is the basic clause of Stamp Act.
prabhakar singh
(Expert) 28 January 2012
read chapter V ALLOWANCES FOR STAMPS IN CERTAIN CASES:
49.
Allowance for spoiled stamps
50.
Application for relief under section 49 when to be made
51.
Allowance in case of printed forms no longer required by corporations
52.
Allowance for misused stamps
53.
Allowance for spoiled or misused stamps how to be made
54.
Allowance for stamps not required for use
54A
Allowances for stamps in denominations of annas
55.
Allowance on renewal of certain debentures
of THE INDIAN STAMP ACT, 1899
Kunwar Mohd Asad
(Querist) 28 January 2012
Thanks Expert, in this way I was expecting answer to my query.
Thanks sir.
H.M.Patnaik
(Expert) 27 July 2016
Thanx for sharing the relevant info.
