Stamp Duty Amendments

Q: Very recently in the West Bengal state budget a bill was passed wherein Stamp Duty payable at the time of execution of Agreement for Sale would be 2% and the balance Stamp Duty of 5% along with Court fees will be payable at the time of execution of Deed of Conveyance.
Now, if an investor buys a property and pays 2% stamp duty upfront and then sells it to a third party before completion of the project what will be the implications of the recent amendments. As in what will be the liability of the Stamp Duty on the 3rd party at the time of execution of the Deed of Conveyance?

Varun Gambhir, Kolkata

17th May 2017

Property Tax in Kolkata

amendment in property tax

property tax in kolkata

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No, they have clearly mentioned that in order to get the benefit of the reduced rate, the registration has to be done within 4 years from the date of agreement on payment of balance stamp duty. So, you have long four years to pay the balance Stamp Duty.

debabrata sarkar, Kolkata

18th May 2017

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Very frankly speaking friend. As you know that all those who passed such bills are not so educated like us they do not plan, they do not use their brain and think broader like us. They just get order from the State Govt and follow their order. And the people have to suffer.

Sajal Das, Kolkata

18th May 2017

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