Article 5 (h) (a) (iv) of List 1 sets the stamp duty on the agreement or memorandum of understanding that creates an obligation, right or interest and creates monetary value. Question 6. Does stamp duty have to be paid on transactions or instruments? 5.1 The fee may be paid by pasting, stamping or e-francification (recently commenced) on the instruments, and duly stamped documents are only admitted as evidence before the courts. with regard to the purchase of shares in a system by an investor of a developer – if the investor sells the unit, a compensation of the tax paid on the transfer tax, in accordance with Article 31 of the list, stipulates that the stamp duty on the letter of allocation of the shares of a proposed company or enterprise Rupien 1 (cf. 1 / -) is fixed. The stamp office determines the market value of the property by referring to an annual price statement (usually known as stamp Duty Ready Reckoner) which shows the market values of various properties in Mumbai. The reckoner divides the property into different categories such as built-up land, undeveloped land, housing units, industrial/office units, shops, etc., and determines their market value accordingly. 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 Central Enactment and the State has the power to take over the Indian Stamp Act of 1899 with an amendment to match the transaction specific to each State. Some states introduced "Schedule I" into the State of India Act, the stamp duty payable in the state in 1899. States such as 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 separate Stamp Act, while many states follow India`s Stamp Act of 1899. Sections 17 and 18 of the Bombay Stamp Act 1899 indicate the date of payment of stamp duty. As a general rule, all documents exported to the State must be affixed before or at the time of execution, or immediately after or on the day following execution. Similarly, documents exported outside the State and within three months of their receipt in the State shall bear a stamp. Partnership, including an LLP, joint venture, to run a business, make profits and share profits, whether in cash or in kind 5.2 In addition, each official can pledge such mislabeled instruments if he or she is aware of them. . . .

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