What is N.B in Indian STamp Act ?
Kumar Krishan Agarwal Advocate
(Querist) 17 February 2010
This query is : Resolved
45. Partition - Instrument of as defined by s. 2(15). The same duty as a Bond (No. 15) for the amount of the value of the se-parated share or shares of the property.
N.B. - The largest share remaining after the property is partitioned (or if there are two or more shares of equal value and not smaller than any of the other shares then one of such equal shares) shall be deemed to be that from which the other shares are separated:
Question: Would the stamp duty has to paid on the largest share if the person(B) who wants to get property being separated demands 25% property from person(A)being owner of 100% share.
VIZ
Would the person A has to give the stamp duty on 75% share if the another person (B) demanding 25% isolated share from A's property ? or The person A would have to give only the stamp duty on 25% share?
s.subramanian
(Expert) 18 September 2010
Now that has been amended. As per the new amendment,each and every share holder has to pay the stamp duty and the maximum stamp duty payable per share has been fixed at Rs.10,000.
