Stamp Duty
Srijeyaraj
(Querist) 06 November 2009
This query is : Resolved
Dear sir,
In cochin, kerala, our company has taken a premises on lease for 5 yrs and we have registered the Lease Deed and have paid stamp duty and Registration fee for the entire tenure. Now we have vacated the premises and while going for registration of Surrender of Lease Deed, the Registration Office is claiming the same stamp duty as we have paid at the time of Registration of Lease Deed. As per the Kerala Stamp Act, Stamp duty for Surrender of Lease is Rs.100 and Registration fee is 2% for corporation area. The query is 2% on What? We have mentioned that there is refund of security depost is Rs.3,50,000/-. And there is clearly memorandam from the IG of Registration, kerala is refund of Security Deposit should not be considered for fixation of Stamp Duty. Kindly clarify.
Raj Kumar Makkad
(Expert) 06 November 2009
2% seems to be calculated on security deposit and the registration department shall have to refund all charged amount except permissible in the given circumstances as no lease actually has taken place.
Srijeyaraj
(Querist) 06 November 2009
Thanks for your reply sir.
I have to add one thing to my query. We have vacated the premises after two year of enjoying the property. We have paid Stamp duty for the entire 5 yrs term.
Further as per Memorandam of IG of Registration of Kerala, it has been stated very clearly that refund of security deposit shall not be considered for fixation of Stamp duty. Hence the question arises that 2% on what?
