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Is stamp duty payable on the instrument or transaction?

April 26, 2017duty instrument Payable stamp transaction

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Is stamp duty payable on the instrument or transaction?

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It is payable on the instruments. If any information essential for working out stamp duty is missing, the valuation officer can call for it. Information such as the Carpet or Built-up area, number of floors in the building, year of construction, name of the Division/Village and C.S/C.T.S number of plot of land, must be recorded in the agreement for quicker response.