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?
Latest Answer: 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.
