India  |  Banking Law

question bubble
11/16/09, 6:03 am

Legal Question


Dear Members,

I have purchased a property from AllahabadBank(M.P) under Sarfeasei act 2002.I just wanted to know whether we can get exemptions from stampduty and registration duty .

We have been issued sale certificate from bank


question bubble
11/16/09, 9:35 am

Legal Answer


No stamp duty exemption is available.

Seshadri Srinivasan

www.lawconcern.com 7A Queens Court 130 Montieth Road Egmore Chennai Chennai,india, NUS 600008

Other answers from this attorney
question bubble
11/16/09, 10:24 am

Legal Answer


Please check up the State in which the Sale Certificate is issued. If under the State Stamp Act there is exemption or no duty provided under that Article, no stamp duty need be paid. No Registration is also necessary. But the Authorized officer of t he Bank should stand copy of the Sale certificate t o the concerned Registrar office to be noted in Book No.1.

J. Radhakrishnan

independent Practice Priya Mahaall, New 27, Old 12/3, Deivasigamani Street Chennai, NUS 600014

Other answers from this attorney
Search Past Answers:
  Advanced Search