Stamp duty on bank loan
This query is : Open
01 December 2012
My Client has taken a loan Rs. 1 Crore( CC & BG) & Mortgage property Value Rs. 70 Lakhs in it.
How Much Value of Stamp Paper Required on it.Bank has been demanding stamp of Rs 1 Lakh
How Much Value of Stamp Paper Required on it.Bank has been demanding stamp of Rs 1 Lakh
02 December 2012
Stamping is required based on the amount of loan so bank is correct. Generally stamp duty requirement is 1% on loan amount. So bank is correct.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
03 December 2012
Once the bank itself have informed you about the amount of Stamp Papers/Duty so there remains nothing to ask. It is a case of either do or exit.
However, above reply is very much correct and perfect.
However, above reply is very much correct and perfect.
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