Legal Question in Criminal Law in India
Is the value of stamp paper linked to the amount under consideration?what is the minimum value of stamp paper to be used for a loan agreement of Rs.60 lacs?
if a lesser amount of stamp paper is used will this adversely effect the recovery process in case of a litigation?
3 Answers from Attorneys
Stamp laws being state law contact local lawyer / stamp office
In which state the land is? Stamp duty has to be assessed on the basis of that particular State's Law.
If you pay lesser stamp duty then payable, then you document will be impounded by the Authorities unless you pay full stamp duty. In court litigation also, if it is found that document is inadequately stamped, then court would impound such document and will send it to stamp duty collector, for assessment and payment of proper fees, before such document can be taken and read in evidence.
Check stamp laws applicable to your area and act accordingly.
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