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Expiry of Challan for stamp duty and registration
17-Aug-2023 (In Property Law)
Sir
I had paid and received Stamp duty and registration challan for my property on 28 March 2021. On 17 Aug 2021, I have been informed by builder that I have to register the property within 1 month else I will have to pay penalty of INR 50,000/- per month delay in registration. Is it true? Sales agreement /deed is not yet signed for the property with the builder
Well, in order to do Property Registration, you should purchase a Stamp Paper which remains valid for Six Months. Within such Six Months, you can get your Property registered at any point of time by appearing before the Registar of Properties along with the Builder to get the Sale Deed executed printed on such Stamp Paper by paying Registration fees of 1 percent and by paying 5 percent Stamp Duty.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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Is K2 challan valid for 7 days?
The K2 challan will be valid for 7-days from the date of generation. Complete the payment within this time frame. Once the payment has been made, K2 challans are valid for 90-days. The K2 challan can be submitted to the concerned authority within 90days of the payment date. 07-Jan-2022
What is the validity of challan for registration in Karnataka?
The system will generate an challan number that is valid for 90-days. Within this time frame, you must complete the registration of your property at the subregistrars office. 05-Oct-2023
Once the stamp duty is paid the document needs to be signed and registered within 6 months of such stamping/ challan date. In case the document gets signed within 6 months, you will automatically get extension of 4 months for registration as per law.
On refund process may be exercised as you get to know that the stamping paid is to be cancelled along with the document / transaction to be cancelled. The process takes about 3 months and refund is promptly done by department within 60-90 days max. Ensure all original receipts put up for cancellation are with you and a crossed cheque is submitted to ensure the money comes into your pan linked account.
On refund process may be exercised as you get to know that the stamping paid is to be cancelled along with the document / transaction to be cancelled. The process takes about 3 months and refund is promptly done by department within 60-90 days max. Ensure all original receipts put up for cancellation are with you and a crossed cheque is submitted to ensure the money comes into your pan linked account.
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Adv. Sarthak Shah
Mumbai | 100+ Answers
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A challan is valid for 15 days from its generation before its deleted. Taxpayers can produce a challan at any time.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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