(b) the stamp affixed to any document which is the subject of a call for tenders in whole or in part, but which is not signed or executed by either party; Note III. – For the purposes of this Article, the market value of instruments covered by Section 2 (toll agreements) and Article 5 (g-e) (temper purchase agreement) shall be the total value of the contract and shall be taxable at the same level as those provided for in Article 25(a). (a) the amount of duty payable on that document [or a copy of the document] shall be the amount of duty payable in accordance with Annex I on a document of similar description issued in that State, less the amount of tax already paid, if any, on that instrument under legislation in force in India, with the exception of the State of Jammu and Kashmir; when it was executed. The same fee as that to be paid in accordance with points (a) and (b). “IIIA. For the registration of a document of consent to leave and license, if this document relates to the property, – 38th LETTER OF LICENSE, that is, any agreement between a debtor and his creditor that suspends his claims for a certain period of time and allows the debtor to carry out his activities as he wishes. In accordance with the Indian Stamp Act of 1899, stamp duty must be paid as a measure of registration and tracking of all transactions. Therefore, stamp duty functions almost as proof of the conclusion of the transaction and the fact that it took place. It is a legal person that is valid in court as evidence in the event of a dispute.
The last change for the Indian Stamp Act came in 2016 in the form of the recovery of the Debt Laws Bill 2016. If you are buying new real estate or selling an asset, stamp duty is definitely something to know. If you don`t know all the laws related to stamp duty and its application, don`t worry, because we`ve got you covered. Here`s an overview of everything you need to know about stamp duty and where to pay it. (f) the amount to be deducted from the value of the stamps referred to in sections 47, 50, 51 or 52:] (i) where such an agreement or declaration of intent exists with or by a member or between members of the Stock Exchange recognised by the Securities Contracts (Regulation) Act 1956 (XLII of 1956); (d) The depositary shall keep appropriate records of the payment of stamp duty, which shall be made available from time to time to the Superintendent of Stamps, Bombay, for consultation if he so wishes.. . . . .