Hello Friends ..
Kindly give me the solution in the following matter :
(1) Flat is being transferred by Sister to Brother in 1975.
(2) It is recorded on the plane peice of paper (No stamp no notery no registration)
(3) As per Brother it is family transfer and as in 1975 no stamp duty was payable in 1975.
(3) Society transfered the name of flat to the Brother in 1980
(4) Now in 2009 COLLECTOR of STAMP issues notice to BRITHER, on complaint of one of the society member to pay the stamp duty of some 1.2 lakh and penalty of 2.4 lakh as the document not properly stamped and no stamp duty is paid.
(5) I WANT TO KNOW :
(i) WHAT was the stamp duty on family Transfer in 1975.
(ii) AT what rate i awill be charged Stamp Duty.
(iii) The valuation of Property of 1975 will be considered or valuation of property of 2009 will be consided for STAMP DUTY Calculation.
(iv) How can i reduce my stamp duty bcz teh stamp duty charged to me is on the valuation of 2009.
(v) KINDLY GIVE ME THE LEGAL PROVISIONS AND CASES IF ANY.
Regards,
Chirag Shah
