10 November 2009
No. For any agreement (lease or purchase) of immovable property in Bangalore you will have to buy the stamp paper from Karnataka only. Although the Indian Stamp Act is a Central Act, it is administered by the state where the immovable property is located. In other cases it is where the transaction or affidavit or jurisdiction of agreement is supposed to be. Other than Bill of Exchange, Hundis, Cash and Clearing Instruments and Receipts, promissory Notes and Issue of Bill of Lading the rate of stamping is fixed by the state. For these specific items, the centre fixes the rates and state collects the duty.
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