“Stamp duty is sais to be a legal tax payable as a whole and it mainly acts as a evidence for any sale or buy of an asset. It could be very essential to understand that stamp duty may be paid with the aid of using both of the subsequent approaches i.e., E- Stamp or Franking, Stamp Paper As according to Article forty-eight of Schedule 1 of Bombay Stamp Act, 1958, stamp duty is 2% of market price of the share or stocks ultimately after seperating the biggest proportion. Incase of same share than on any individual of the stocks.
Registration is compulsory. Quickly because the stamp duty is paid, the report needs to be registered in line with the Indian Registration Act, 1908, with the Sub-Registrar of the involved Locality. The primary item of the act is to make certain that the statistics on all of the offers is correct.
Reference: Article 48 of Schedule 1 of Bombay Stamp Act, 1958 – – AHG74 – 202100580 – 36 – 35 – 2021001502021004214073