The Indian Stamp Act of 1899 was enacted to consolidate and amend the Stamp Act. It extended to all of India, with the exception of the state of Jammu and Kashmir. The Indian Stamp Act, 1899 is the central enactment and the state has the power to pass the Indian Stamp Act in 1899 with a change of it to match the state-specific transaction. Some states have introduced Schedule I in the Indian Stamp Act, 1899 is stamp duty payable in the state. States such as the Maharashtra (The Bombay Stamp Act, 1958.), Gujarat (The Gujarat Stamp Act 1958), Karnataka (The Karnataka Stamp Act, 1957), Kerala (The Kerala Stamp Act 1959) and Rajasthan (The Rajasthan Stamp Act, 1998) have their own Stamp Act, while many states follow the Indian Stamp Act, 1899. 500 – 0.5% of the order value greater than 10 lakhs. The maximum obligation is 25 lakhs That is to say the execution of an agreement on a stamp paper every time, especially when such agreements are necessary to be executed often, it is understandable that time, laborious and, therefore, inse practical. Same duty as promotion. In the case of a gift to spouses, brothers, sisters, rule ascendants or descendants 10 ₹ for each 500 or part of it (about 2%) Market Value Physical transfer of ownership is not considered valid under the law. To validate such a real estate transaction, the buyer must pay stamp duty, as proof of the purchase has been provided. Stamp duty is therefore the tax paid by the state at the time of the real estate transaction and has the transfer certificate properly kept in court.
2. A lease agreement is not considered a lease if there is no immediate termination Atur India P Ltd., (1994) 2 SCC 497 The payment of the appropriate stamp duty on the instruments confers legality on them. These instruments have the value of evidence and are admitted to the courts. Instruments that have not been properly stamped are not admitted into evidence. Q35. Can stamp duty be refunded if the stamp paper is not worn or mutilated? 2.2 p. 3 of the Act, stamp duty, at the rate indicated in Schedule I, is imposed on any instrument exported to the state. Instruments performed outside the state are taxable only upon receipt in the state, provided they relate to real estate located in the state or something or something to be done in the state. As in the case of transport on the market value subject to a minimum value of 100 2.4 when an instrument is drafted in such a way as to be included in the scope of more than one article in Schedule I, it is imposed by the section that levies the highest amount of stamp duty.