stamp duty

This query is : Resolved

Guest

Guest (Querist)

26 July 2008 what is stamp duty exactly?wat r the modes of payment of stamp duty?if we purchase a 100 rs stamp paper,is that mean that we have paid 100 rs stamp duty..?on what amount its depend on?how to calculate.?tell me clearly...
who r responsible person to calculate stamp duty?

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
Follow

26 July 2008 Stamp duty is payable for the purpose of execution and registration of documents so that its validity and reliability may be confirmed and verified at any moment. It is a subject matter of states and as such differs from states to state. It is payable on the nature and type of document involved. Somewhere it is fixed while in others it is variable and calculated on the basis of the value of transaction involved.
You may refer the Indian Stamp Act, 1899. For knowing the rates applicable in Delhi u may visit the site

http://finance.delhigovt.nic.in/circular/rate_of_stamp_duty.pdf