When is stamp duty payable? What is the penalty for delayed payment?
Stamp duty is payable before execution of the document or on the day of execution of the document or on the next working day of execution of the document. If stamp duty is not paid on time, it attracts a penalty at the rate of 2% per month on the deficit amount of the stamp duty with a maximum of 200% of the deficit of the amount of the stamp duty (as per the amendment that came into force from 1/5/2001) Documents lodged with the sub-registrar/superintendent of stamps prior to any amnesty scheme will attract a lump sum penalty of Rs.250 or Rs.300 only, as the case maybe.
