Dhruv (ABC) 04 June 2013
Dear All,
I have purchased a flat in Mumbai and have executed an Agreement for Sale by making a payment of a token amount. The same has been registered and stamp duty has been paid on the full consideration amount. Now I understand that after making the full payment, even a Sale Deed has to executed on which Stamp Duty is to be paid and the same has to be registered. So does this mean that I have pay stamp duty twice on purchase of the same flat?
Kindly advise.
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 04 June 2013
The original purchaser will be liable to pay stamp duty on the fair market value prevalent at the date of the document as determined by the Stamp authorities as stamp duty is paid on each transaction. However, the reply is subject to the confirmation of the Hon’ble Supreme court of India. In the question under consideration in my opinion person is responsible to pay stamp duty on only his own purchase transaction and hence the second purchase in my opinion will not be liable to pay the unpaid stamp duty of the first purchaser.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
