Close relatives should be clearly defined to reduce Stamp Duty implications on the Power of Attorney examines Adv.R.P.Rathod

As per the Bombay Stamp Act, 1958, if a Power of Attorney is given to a person other than a close relative authorising the person to sell or transfer immovable property, stamp duty payable on such Power of Attorney is the same as that on a conveyance on the market value of the property, this is to say that the stamp duty could be up to 5% of the market value of the property if such property is in Mumbai says Adv. R. P. Rathod.

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Now Time Bar documents will not be Registered by the Office of Sub-Registrar

Register this says Adv. R. P. Rathod!

As per a recent Circular issued by the Inspector General of Registration & Controller of Stamps, Maharashtra State, documents not registered within the stipulated time frame cannot be annexed to other documents presented for registration, examines Adv. R. P. Rathod.

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Now Paying Stamp Duty online will soon to be possible

The State government’s e-payment initiative for stamp duty and registration charges is a step towards streamlining the process.

With an aim to creating a hassle-free environment for the recovery of stamp duty and registration charges, the state government recently announced that it will launch e-payment gateways. Additionally, the government would also facilitate payment of stamp duty for leave and licence deals through the internet by applying digital signatures.

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