Stamp duty
mints_india
(Querist) 08 September 2017
This query is : Open
Article 5 (h) (A) (iv) of the Bombay Stamp Act states 5(h)AGREEMENT OR ITS RECORDS OR MEMORANDUM OF AN AGREEMENT, - (A) if relating to -
(iv) creation of any obligation, right or interest and having monetary value, but not covered under any other article,--
(a) if the amount agreed does not exceed rupees ten lakhs,--0.1 per cent. of the amount agreed in the contract subject to minimum of rupees 100. (b) in any other case,-- 0.2 per cent. of the amount agreed in the contract.
(1) What Agreements fall within this Clause? Is this Clause meant only for documents which spell one-sided obligation like undertakings?
(2) Would Service agreement fall within this purview?
(3) Would Bank guarantees be considered as falling within the purview of this Clause?
(4) Would agreements setting out terms and amount of Donation fall within this Clause?
(5) Would an agreement to outsource activity of "collecting information, processing and providing of results" fall within this Clause?
