w.e.f. 01/05/1994 Stamps must be purchased in the name of a performer who signs the instrument. Anyone who, by law or with the permission of the party, gets evidence, and anyone for? the public office before which each instrument accused of stamp duty is produced or enters into the performance of its duties. If it seems to him that this instrument is not properly stamped, he confiscates the same thing, that the instrument is not legally valid. This accumulated document must be forwarded to the stamp collector for the collection of the deficit tax, in addition to a penalty of 4% per month. In accordance with the provisions of Section 30, in the absence of a contrary agreement, the obligation of customs duties for the payment of stamp duty is borne by the performance of the manner submitted to it for certain types of documents. Mortgage credit, release, debt of securities, settlement, borrowing, etc. in case of transport, the beneficiary and lessor of the tenants must pay stamp duty in case of exchange of property, both parties pay equal parts stamp duty. In the event of a division, the parties must pay a stamp duty in relation to their respective shares. Here you can find our information on the validity of electronic contracts. The same tax as on transport equal to counterparty 4.8 stamp duty must be paid at Schedule I rates.

Depending on the instrument, it can be based on market value, surface or various other criteria. For instruments based on the market value of the property, the term for each property subject to an instrument indicates the price that property would have obtained if it had been sold on the open market at the time of the performance of such an instrument or consideration, according to the highest value. 5.2 In addition, any public servant may seize these mislabeled instruments if they find out. These seized instruments are to be sent to the collector, who then determines the amount of tax and, if necessary, the penalty to be paid. Each part to an instrument can also submit suo moto an evaluation instrument by the collector u/s 31. Section 17 of the Stamp Act specifies when an instrument must be stamped. It states that, within the meaning of the Indian stamp act and most state stamp duty laws, stamp duty instruments are inadmissible as evidence if no appropriate stamp duty has been paid.