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India Stamp Duty And Registration Charges An Overview

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By Author: Karma financial and realty solution
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India Stamp Duty and Registration charges: An Overview

The stamp duty is a tax charged on documents necessary for the registration of a property by the state government. Section 3 of the Indian Stamp Act 1899 specifies that the stamp duty is mandatory during property registration. In addition, a registration fee, which is a percentage of the gross value of the property purchased , is levied by the state authorities.

The stamp duty can be paid in three different ways:
E-stamping, in brief, is a payment of tax by RTGS or NEFT online. It does not, however, apply in all countries. When registration is done at the Registrar's office with the permission of the executor, the procedure is known as the non-judicial stamp paper method. The franking method is used to process documents using a franking machine by an authorised bank. It should be noted that for all types of properties, whether commercial or residential, registration charges and stamp duty are mandatory.

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