Some consultants claim to get the market value reduced to save a substantial amount of stamp duty. Is it correct?
Many people are under the impression that some consultants can help them in reducing stamp duty. This can only be done by furnishing misleading information and will provide detrimental in future when they receive a notice for concealment of facts. A registered document can be reopened any time within ten years from the date of registration and adjudicated documents within six years from the date of adjudication. Misleading information in the agreement is an offence under the Stamp Act, punishable with fine and imprisonment.
