Once you have filled in the details, the computer shows you the indicative stamp taxes, the surcharge, the stamp duty and the full registration fee for your property. Section 6(2) of the Bombay Stamp Act mentions that stamp duty on the instrument proving a securitisation agreement for movable property where such securitisation is a guarantee for the repayment of money, section 27 of Shedule 1A of the West Bengal Stamp Act fixes the stamp duty on bonds by separate notice or deed of transfer. The stamp duty varies from the lowest of the 10 paises to the amount not exceeding 10 rupees, up to three rupees and seventy-five paises, where it is between paragraph 900 and paragraph 1000. If the amount is more than a thousand rupees, one eighty rupee is pished for five hundred. Documents that do not have to be registered, but must pay stamp duty, on the other hand, of 0.1% -0.2% of the amount of the mortgage or 0.1% of the value of the property, limited to the instrument of sale of the property. It also varies from state to state. For example, if you take a home loan of Rs.1.5 crore in Karnataka, your frankie fee will be 0.2%. In total, Rs 30,000. Article 40 of the West Bengal Stamp Act stipulates that mortgage stamp duty is not an agreement concerning – If the transfer concerns immovable property located within a municipality, cantonment or declared areas, the stamp duty to be paid is one hundred rupees (Rs.100/-). From July 1980, the buyer must pay stamp duty on the market value of the property. As far as public taxation is concerned, it generally varies from one State to another. Nevertheless, there is a general pattern that is followed.
For example, let`s take a look at the stamp tax levied by the Karnataka state government. In addition to the aforementioned documents, the Karnataka State Government levies stamp taxes: Section 51 of List 1 of the Bombay Stamp Act mentions stamp duty on five hundred rupees (rule 500/-) on the return of the mortgaged property. Section 54 of Schedule 1A of the Delhi Stamp Act provides that the stamp duty on the return of the mortgaged immovable property is 3% of the equivalent set out in the deed. A 2% discount may be granted if the property is owned or held by a woman.. . .