As far as the duty of the state is concerned, it generally varies from state to state. Nevertheless, there is a general pattern that is followed. Let`s take a look, for example, at the stamp duty imposed by the Karnataka government. Apart from the documents above, the Karnataka government imposes a stamp duty: 5.3 A person may be punished with a severe prison sentence of up to 6 months (no less than one month) and a fine of up to 5,000 next if it is proven that the instrument has been undervalued or that a short payment of tax has been made with the intention of circumventing the duty. 4.2 The instrument that is only executed from Maharashtra can be stamped within three months of the first reception in India. Under the Indian Stamp Act of 1899, stamp duty must be paid as a measure to cover and track all transactions. Therefore, stamp duty works almost as evidence of the conclusion of the agreement and that it took place. It is a valid legal person in court as evidence in the event of a dispute. The last change to the Indian Stamp Act came in 2016 in the form of debt recovery from the 2016 Act. If you are buying a new property or selling an investment, then stamp duty is definitely something you need to know. If you don`t know all the legitimacy regarding the stamp tax and its application, don`t worry, because we`ve covered you. Here`s a look at everything you need to know about stamp duty and in which you have to pay it. According to the above provision, two things are generally necessary for the obligation to tax stamp duty: there are certain agreements covered by the Indian stamp law, which should be affixed to stamp paper but should not be registered in a mandatory manner, such as the obligation.

B to pay stamp duty in accordance with Section 30, in the absence of contrary agreement, which must be borne by the performer of nature and in the manner presented to them with respect to certain species 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. The Maharashtra (Bombay) Stamp Act, 1958 came into force on 16 February 1959 and is applicable in the state of Maharashtra. The purpose of this law is to levy stamp duty on certain types of documents exported to the state or transferred from outside to meet them in the state. The various instruments/documents are, on the whole, covered by Article 62 of The Calendar-I Annex. The rates for which stamp duty is levied on these documents are indicated in Schedule I of The Maharashtra (Bombay) Stamp Act, levies stamp duty on documents/instruments by which a right or liability is created, transferred, restricted, extended, erased or registered.