Query - Stamp Duty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 June 2011 Dear All,

Two Things-

1) In case of Service Agreement who shall borne the Stamp Duty ie. who shall pay the stamp duty the agent or the principal?

2) How much stamp duty is payable on the service agreement in state of Karnataka? And is registration of agreement mandatory or how beneficial it is?

Pls note: This is a ongoing contract for 3 years, so any fix consideration is
not given in agreement, as and when the service provider(agent) raises
the bill on company (principal) , the co shall pay the bill after
deduction of the taxs as per prevailing laws.

regards
Sajjala

CS Bijoy

CS Bijoy (Expert)
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06 June 2011 According to me the Principal will responsible for the tax.
Registration of the agreement is compulsory otherwise it is agent will not responsible for his service.