Stamp Duty & Registration, Duty on Shares, Deemed Conveyance, Stamping in Mumbai and India

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Taxes On Transfer Deeds and Other Documents...

Stamp Duty and RegistrationStamp Duty is a kind of Tax imposed on the Documents.

State Government and Territory Government charges Taxes on the range of Documents and Electronics Transactions.These taxes vary from State to State and Territory to Territory and can be called as Stamp Duty, Transfer Duty, Transfer Fees, or General Duty.

Stamp Duty can be imposed on: All the documents that need duty should be stamped. Stamp Duty paid documents are considered legal documents and can be evidence in the Court. The documents without proper Stamp Duty are not considered as an legal evidence in the court and can seized by Public Office or Court.

When the property is sold or transferred to legal heirs, the documents should be stamped as per Market Value of the property and the Market value is determined by the local Stamp Duty Authorities. However, when the value is determined by Government or Quasi-Government body, then it is considered the valid market value.

Rate of Stamp Duty varies from Document to Document and Transaction to Transaction. It also depends upon status of the payer, type of Document or transaction and on slab of Market Value.

Stamp Duty should be paid in full and on time. Failing of which can be punished with Penalty or imprisonment. The Penalty for Property Stamp Duty can be from minimum 2% to maximum 200% on the unpaid value. However, where the order of the Collector is concerned, an appeal can be filed within two months only after depositing the amount decided by the Collector.

Stamp Duty is not payable on following Documents:
  • Documents Executed on behalf of the Government
  • Testamentary Documents
  • Documents, required for Judicial or Non-Judicial Proceedings
  • Documents, filed in Judicial or Non-Judicial Proceedings
There are two types of Stamps available such as: Judicial Stamps and Non-Judicial Stamps. The documents which are chargeable with Stamp Duty should be prepared on Non-Judicial Stamp Paper with appropriate value.

The Stamps should be purchased in the name of one of the executors of the document and the Stamp Duty should be paid before the execution of the document or on the day of execution of the document. Execution suggests signing the document by concerning parties.

Stamp Duty and Registration Act is complex. The experts at will help you out the proper execution of the Document and paying the appropriate duty.

For More Information Contact:
Rizvi Park, E28, Ground Floor,
S.V.Road, Near Milan Subway,
Santacruz (West) - Mumbai - 400 0052 India.
Phone : (022) 2661 5092
Cell : 98925 22650
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