What is the stamp duty to be paid in respect of instruments in which amount is to be paid in annuity or periodically?
Ans: Instruments executed to pay amount annually or periodically stamp duty is to be paid as follows depending on the circumstances. Where the sum payable during the period is previously ascertained stamp duty is to be paid on whole of the amount. Where the sum payable is in perpetuity or for an indefinite time not terminable with any life, stamp duty shall be on the sum payable during the period of 20 years calculated from the date on which the first payment becomes due. Where the sum payable for an indefinite time terminable with any life, the stamp duty shall be paid on the sum payable during the period of 12 years calculated from the date on which the first payment becomes due.
