liability of stamp duty in case of rent reduction in registered lease
06-Aug-2023 (In Property Law)
What would be liability of stamp duty and registration if rent is reduced in registered lease deed?
The stamp duty is directly correspondent to the rent. If your lease deed is already registered, reducing rental amount will have no effect on the stamp duty as the applicable stamp duty was paid as per the rental mentioned in the deed during registration. If you had paid adequate stamp duty then, you don't have anything to worry about it now. If you are looking for a refund of excess stamp duty, that will not be possible as you have on a later date changed the rental amount.
What is the value of 100 RS stamp paper?
In India, a Rs-100 stamp paper is a non-judicial stamp used to execute legal or financial documents. The value is pre-printed at Rs 100. The stamps are available from authorised vendors of stamps or banks approved by the government. Stamp duty is paid directly on the stamp paper. 11-Sept-2023
What is difference between e stamp and stamp paper?
What is the difference between E-stamp paper and Stamp paper?
Launch date : The Stamp Paper was launched in 1765, and the e-Stamp Paper in 2013. Authenticity: To check the authenticity, one must visit the court to inspect the Stamp Paper. However, the authenticity of the e-Stamp Paper is checked online. 30-Aug-2022
What is the stamp paper value for MOU?
Normaly, MOUs are exempt from stamp duty. If the MOU includes an agreement to buy immovable property valued at more than Rs. If you are required to present it at court, the MOU should be stamped.
How do you determine the value of stamp paper?
The state government is responsible for determining the value. The charges are directly proportional to market value and other factors such as performance on the market. Stamp duty is also determined by the location of the property, such as whether its in an urban or rural area.
According to Section 105 of the Transfer of Property Act, a lease of immovable property is a transfer of a right to enjoy such property, made for a certain time, express or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on specified occasions to the transferor by the transferee, who accepts the transfer on such terms. Lessor, lessee, premium, and rent defined.
Stamp duty is payable @2% of the average annual rent in case of a lease agreement for a term up to 5 years and @3% of the average annual rent in case of a lease agreement greater than 5 years and up to 10 years.
Stamp duty is payable @2% of the average annual rent in case of a lease agreement for a term up to 5 years and @3% of the average annual rent in case of a lease agreement greater than 5 years and up to 10 years.
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Your question is not very much clear. What you want to ask how the rent is reduced in registered lease deed is not clear.vkindly make Ur question more clear. However in rent deed the stamp duty is shared by mutual agreement. Generally half by both parties.
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Feel free to ask any more quary.
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