Stamp Duty Calculator
Stamp duty is collected on the basis of property value at the time of registration. SD’s amount varies from state to state and also property type – old or new. Since it adds up to the property cost, it’s better to have a fair idea before finalise your property deal. Sulekha’s Stamp Duty Calculator helps you to know the amount beforehand.
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Stamp Duty (Rs):
Calculation Info:
FAQ's in Stamp Duty Calculator
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1) What is stamp duty? Why should stamp duty be paid?
It is a tax, similar to sales tax and income tax, collected by the Government. Stamp Duty is payable under Section 3 of the Indian Stamp Act, 1899. Rates of stamp duty payable for different types of documents are as per Schedule I. Stamp Duty must be paid in full and on time. If there is a delay in payment of stamp duty, it attracts penalty. A stamp duty paid document gets evidentiary value and is admitted as evidence in Court. Document not properly stamped, is not admitted as evidence by the Court.
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2) What is the purpose of Indian Stamp Act?
The purpose of enacting such an Act is to raise revenue for the local governments. Additionally, payment of stamp duty imparts legality to the document and this can be submitted as an authentic document in courts.
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3) How should one sign an instrument affixed with adhesive stamp?
As per the provisions of Section 12, any person executing an instrument affixed with adhesive stamp, shall cancel the adhesive stamp so affixed by writing on or across the stamp his name or initials. If such an adhesive stamp has not been cancelled in the aforesaid manner, such a stamp is deemed to be unstamped.
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4) What is instrument?
Instrument means any document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded.
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5) How should instruments stamped with impressed stamp be written?
As per the provision of Section 13 of the Indian Stamp Act, 1899, any instrument on an impressed stamp, shall be written in such manner that the stamp may appear on the face of the instrument and cannot be used for or applied to any other instrument i.e., cancel the adhesive stamp so affixed by writing on or across the stamp his name or initials. If such an adhesive stamp has not been cancelled in the aforesaid manner, such a stamp is deemed to be unstamped.
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6) How are stock and marketable securities valued?
As per the provision of Section 21 of the Indian Stamp Act, 1899, any instrument chargeable with ad valorem duty in respect of any stock or any marketable or other security, such duty shall be calculated on the value thereof on the day of the date of the instrument.
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7) How is a property subject to mortgage, when transferred to the mortgagee, charged?
As per the provision of Section 24, when any property subject to a mortgage is transferred to the mortgagee, he shall be entitled to deduct from the duty payable on the transfer the amount of any duty already paid in respect of the mortgage.
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8) When can one ask for refund of stamp duty?
11. As per the provisions of Sections 49, 50, 52, 53 and 54, Stamp Duty can be refunded under the following circumstances::
1. Spoiled Stamps
2. Misused Stamps
3. Stamps used in excess of the value required
4. Stamps not required for use. -
9) How is stamp duty paid in transactions where more than one instrument is required?
As per Section 4 of the Indian Stamp Act, 1899, stamp duty is paid only on one of the principal instruments and on the balance documents only minimum duty is payable.
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10) Whether Stamp duty is payable on transactions or on instruments?
It is payable on instruments and not on transactions. The definition of the term instrument is very wide.
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11) What is document?
As defined in Evidence Act, document means only matter expressed or described upon substance by means of letters, figures or marks or by more than any of those means intended to be used or which may use for the purpose of recording that matter.
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12) Can stamp duty be paid in India, for documents executed outside India?
As per Section 18 of the Indian Stamp Act, 1899, any instrument executed out of India can be stamped in India, provided it is stamped within 3 months from the date it has been first received in India.
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13) Stamp Duty is paid on ad valorem basis. What does this implies?
It means that - Stamp Duty is paid on basis of value of property.
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14) How stamp duty payable can be determined?
Usually, the executor himself can calculate the stamp duty payable on document as per the rates provided in the Indian Stamp Act, 1899 or the State Stamp Act, as the case may be. Under Section 31 of the Indian Stamp Act, 1899, the executor can also apply to the Collector of Stamps after payment of the requisite fee, for the purpose of obtaining the opinion of the Collector of Stamps as to the amount of stamp duty chargeable on the instrument.
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15) What is the Mode of payment of stamp duty?
The payment of stamp duty can be made by adhesive stamps or impressed stamps. Instrument executed in India must be stamped before or at the time of execution of the same. Instrument executed out of India can be stamped within three months after it is first received in India. However, in case of bill of exchange or promissory note made out of India, it must be stamped by first holder in India before he presents for payment or endorses or negotiates in India.
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16) How stamp duty on transfer of shares of a company is computed?
Stamp duty is payable under the Indian Stamp Act, 1899 on transfer of shares of an Indian company. If the shares are transferred under the depository mechanism, no stamp duty is payable on such transfer of shares. The stamp duty on transfer of shares as per Article 62 of the Indian Stamp Act, 1899 is 0.2 5% of the value of the transfer.
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17) Is a WILL made by an individual chargeable to stamp duty?
No stamp duty is payable on an instrument of WILL whether subject to the Indian Stamp Act or any state laws.
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18) Is there any penalty for violation of Stamp laws?
Yes. The penal provision includes imprisonment and fine or both for offences under the Stamp Laws.
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19) What are the consequences of non-payment of stamp duty?
Every person having by law an authority to receive evidence and every person in charge of public office before whom any instrument chargeable, in his opinion, with duty, is produced or comes in performance in his function, shall, if it appears to him if such instrument is not duly stamped, impound the same.
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20) Why Stamp Duty has to pay on document/instrument?
The payment of proper stamp duty on instruments bestows legality on them. Such instruments get evidentiary value and are admitted in evidence in court of law. The instruments, which are not properly stamped, are not admitted in evidence.
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21) What point of time of Stamp Duty payable?
The Section 17 & 18 of the Act states the time of payment stamp duty. Generally, all the instruments executed in the state shall be stamped before or at the time of execution or immediately thereafter or on the next working day following the day of execution. Similarly, the instruments, which are executed out of the state and within three months from its receipt in the state shall be stamped.
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22) How is Stamp Duty payable?
Stamp Duty can be paid by
1. Using Stamp paper
2. Using adhesive stamps
3. Franking -
23) Who is liable to pay Stamp Duty?
As per the provisions of Section 30, the onus of payment of stamp duty in the absence of an agreement to the contrary, shall be borne by the executing in the manner provided there with respect of certain kinds of documents viz. Mortgage deed, release, security bond, settlement, bond etc. in the case of conveyance, the grantee and lease the lessee shall pay the stamp duty in the case of exchange of property, both the parties in equal share shall pay stamp duty. In case of partition, the parties thereto in proportion to their respective shares should pay stamp duty.
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24) How to pay Stamp Duty?
The document which is chargeable with stamp duty can be prepared on the non-judicial stamp paper of appropriate value. Unexecuted document can be got franked with special adhesive stamps by Franking Machine intended for stamping such documents, by tendering required amount in the office of collector of Stamps wherever this facility is available. When documents is lodged for adjudication, on receiving intimation as to the amount of Stamp duty payable by tendering appropriate amount equal to the amount of stamp duty and penalty if any, the Collector of stamp shall certify the document as to the payment of proper duty.
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25) In whose name the stamps are required to be purchased?
The stamps are required to be purchased in the name of one of executors to the instrument.
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