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cash credit hypothecation stamp duty what to do
11-Jul-2023 (In Banking / Finance Law)
if bank enhansed cash credit hypothecation loan by 3 Lakh (old limit Rs.5 Lakh) total Limt Rs.8 Lakh how much stamp duty should take at the time of agreement of hypothecation?
You are liable to pay stamp duty only on enhanced amount i.e. Rs.3 lakhs. Stamp Duty payable on agreement of hypothecation is 0.2% of Rs.3 lakhs, which is Rs.600. I believe that you have paid stamp duty on old instrument of Rs.5 lakhs as per rules.
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Adv. Sunil Kadam
Mumbai | 25+ Answers
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