Is Stamp Duty payable on Amendment to the Contract
11-Apr-2023 (In Corporate Law)
FACT:nWhile entering into a Contract, Parties evaluated and paid appropriate stamp duty and signed the Contract. A contract can be amended only by the parties participating in the contract. In the course of executing the Contract, the Party altered a few points/definitions in order to make changes in-line with the current developments.The Party issued an amendment, which was signed by both the parties.Issue:n1.Is this amendment to be signed on Stamp paper?n2.If so, then what should be the value of stamp paper?n3.If amendment is to be executed in counterparts (2nos.); what should be the value of counterpart stamp paper, on which counterpart amendment will be signed.4.What should the Party issue [Amendment / Addendum / Supplementary to Contract], to incorporate change in the Signed Contract?
There is no need of using a Stamp Paper for drafting or writing a Contract, however, for writing or drafting of certain specific Deeds, it is necessary. So, after looking at the contents of the Document, I'll guide you, whether you need to paste such contents either on a Stamp Paper or a normal piece of paper!
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