Stamp duty and registration of poa

pushkar nehete (Querist) 09 December 2012 This query is : Resolved
If one partner of partnership firm want to give powers to sell the immovable property of the said firm and make Power of Attorney in favour of another partner what would be the Stamp Duty as per Bombay Stamp Act. and it should get registered in the office of sub-registrar?

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ajay sethi (Expert) 09 December 2012
registration of power of attorney is must as POA authrises hilder to sell property . stamp duty would be Rs 500 .

R.K Nanda (Expert) 09 December 2012
agree with expert Sethi.

pushkar nehete (Querist) 09 December 2012
Thanks to both of you sir,for valuable answers!

pushkar nehete (Querist) 09 December 2012
Sethi sir, Stamp Duty would be Rs.500/- only even POA will be in favour of another Partner?

Raj Kumar Makkad (Expert) 09 December 2012
Yes, The cost of Stamp duty shall be of just Rs. 500/- for the registration of GPA in favour of another partner of the firm

ajay sethi (Expert) 09 December 2012
yes as per bombay stamp act stamp duty would be Rs 500 .

pushkar nehete (Querist) 11 December 2012
Sir,Can you tell me under what Article No. of Bombay Stamp Act Rs.500 Stamp sall be paid?

Thanks

ajay sethi (Expert) 11 December 2012
article 48 relates to power of attorney

Raj Kumar Makkad (Expert) 11 December 2012
Are you interested in knowing only Articles or have to move ahead for your real purpose?

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