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How much value of stamp paper should we purchase for power of attorney
06-Oct-2023 (In Documentation Law)
Respected Sir/Madam, I am presently residing in State: Maharashtra. How much value of stamp paper should we purchase for the power of attorney for the purpose of execution of sale deed? The power of attorney we want to execute and apply in Maharashtra for your kind information. I will be very grateful for your valuable replies regarding this matter.
A stamp duty of ten rupees is prescribed for the instrument that you are rerferring to, i.e. a power of attorney authorising one person to act in a single transaction.
However, if the power of attorney is executed for considertaion and authorises the attorney holder to sell the property, the stamp duty payable would be significantly more. In such an instance the stamp duty payable would be the same as that which is to be paid for conveyance.
The stamp duty prescribed for a power of attorny is provided under Article 48 of the Indian Stamp Act, 1899.
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Adv. Siddhant Sharma
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