Sir,
Is the following positon correct , if so, pl let me know where these penalties are mentioned in the law books:-
Non-payment of stamp duty does not make the document void or invalid. The agreement remains binding. The validity of the agreement does not come to an end. In case of a document which is required to be stamped under the Stamp Act but has been under-stamped or not stamped, the document becomes inadmissible as evidence before any authority. Also the document can be impounded for enforcing payment of full stamp value as due as per the Act.
In case any document which requires stamp duty is under-stamped, it can be rectified later. In order to rectify the defect, the person has to pay a penalty, which may be up to 10 times of the original amount.
Any under-stamped document or instrument can be admitted as evidence in a court of law if the penalty of 10 times the value of the original amount has been paid.
thanks and regards
