npond (NA) 15 December 2011

Stamp duty - under paid

Hi,

I have bought agriculture land 2 years back in Andhra. Amount we paid is 13 Lacs but registered the property for 4 Lacs as per Govt valuation. Now, it turned out that this is endowment land. I am planning to file a case on seller but wanted to know if there will be any problem for me for under paying stamp duty? Will it be a penalty only or there going to be any Jail?

I have copy of agreement showing that we paid 13 lacs to the seller.

Thanks for your answers!

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4 Replies

R.Ramachandran (Advocate) 15 December 2011

Did you pay Rs. 13 lakhs through Cheque?

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npond (NA) 15 December 2011

Thank you for reply.

I paid all cash.

R.Ramachandran (Advocate) 15 December 2011

Will you be in a position to show as to how you got the cash (did you withdraw cash from your bank account or did you receive it from any one else) and have you accounted for the same in your books? Otherwise how will you establish that you paid that huge amount in cash? Have you got any receipt signed by the vendor on revenue stamp paper acknowledging the receipt of the said sum?

npond (NA) 15 December 2011

Hi,

I can show that I paid by way of bank statements. Also, I have agreement copy prior to registration which shows the amount paid (signed on stamp paper).

My question is will it be problem FOR ME if I produce this agreement as evidence as I did not pay proper stamp duty.

Thank you very much for your reply!