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Stamp duty

Stamp duty
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First Published: Mon, Apr 12 2010. 09 52 PM IST
0-15 seconds
What am I?
I am a tax you pay to the state government when you buy a property or get a property transferred in your name. I am imposed on the sale of a house or any other form of immovable property. You pay me even if the property is a gift to you.
15-30 seconds
How am I calculated?
Since land is a state subject, I vary from state to state. I am calculated on the agreed sale price of the property or the market price, whichever is higher. Women need to pay less in some states.
30-45 seconds
Where do you pay me?
You can make the payment through stamps bought from the treasury or through a demand draft/pay order issued by any nationalized bank in the name of the state government within two months from the date of execution of the sale deed. Take the certificate of payment to the jurisdictional district registrar or sub-registrar to certify me.
45-60 seconds
Why should you pay me?
You can’t register the sale deed without paying me. The bank puts a seal of the amount paid as per the agreement, which is a proof of my payment. Indian courts will not accept the sale agreement as a proof if there is a legal dispute.
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First Published: Mon, Apr 12 2010. 09 52 PM IST