Dear All,
what will be the value of stamp duty for a consultancy agreement where the consultancy fee is 30,000 per annum and the state is Tamil Nadu. Thanks.
As per your query it is understood that you want to know about the stamp duty on the consultancy agreement in the state of Tamil Nadu.
Indian Stamp Act, 1899
Stamp Duty is necessary to be paid for the stamp/stamps on any instrument that records transactions. Stamp Duty serves as evidence or proof of transaction and can also be admitted and accepted as evidence in a court of Law (because the instrument was witnessed by an impartial Government appointed Official and stamp duty paid for the same has been recorded). This Act was enacted by the Government of India and amended several times.
The State of Tamil Nadu is in the process of getting its own Stamp Act, following other states like Maharashtra, Gujarat, Kerala, Karnataka and Rajasthan. The Tamil Nadu Stamp Bill, 2013, is the proposed bill which has been passed by the Tamil Nadu State Legislative Assembly.
As the value of stamp duty differs from state to state, you can go to some local lawyer of that state and can ask him about the value of stamp duty.
Hope it helps!
Regards,
Anusha Singh
