cash credit hypothecation stamp duty what to do


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?


Answers (1)

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.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers

Advocate Sunil Dalal
New Friends Colony, Delhi
21 years Experience
Advocate Ramakrishnan S.
Cunningham Road, Bangalore
11 years Experience
Advocate Satish Kumar
Banjara Hills, Hyderabad
27 years Experience
Advocate Manish G Varma
Fort, Mumbai
16 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Divorce Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.

Similar questions

I have taken an education loan of amount Rs 4.5 lakhs in 2013 under subsidy scheme launched by central government .According to the scheme all the int…

Read More

bank peoples asking me to make sign on revival letter so wt happens if i don't make signature on that…

Read More

Whether the financiers can cease the hypothecated vehicle without the intervention of court/legal process. This is being asked in veiw of ceasing forc…

Read More

Our Grand pa expired recently & he left 10,500 in room without noticing anybody. Can we exchange this amount in RBI?…

Read More

Get free assistance for your legal issue