Stamp duty must be paid in accordance with Section 3 of the Indian Stamp Act, 1899. This is a tax paid to the state, similar to that of income tax. Stamp duty must be paid in full and must be paid within the allotted time. If the payment of stamp duty is delayed, a fine is imposed. An instrument or document to pay stamp duty is considered a legal and legitimate document and may be admitted into evidence in court. Any document that is not properly stamped cannot be admitted as evidence in court. Delhi has many popular residential areas like Mayur Vihar, Dwarka, Chanakya Puri, Noida, Civil Lines, etc houses are in high demand. When setting up the lease, it is very important to include certain important clauses in the contract. Some important clauses that should be included in the lease or lease agreement are listed below: when a lease is signed, the lessor and resident should respect fairness in the best interests of both parties.

Buying a home is one of the most important financial decisions that everyone can make in their lifetime. It is a frightening financial and emotional experience where we recognize ownership when buying a home, we make a down payment, we apply for a loan, we sign the sales contract, etc. Then comes the possession which is the actual transfer of the property, but that is not enough, because we have to provide patented legal evidence. To do this, you should register the property in local municipal books on your behalf, with the seller reporting that the property is being sold. You must also pay a stamp duty at the time of registration, which is a state tax on real estate transactions. Ashok is the owner of a house with 2 bedrooms. He rents it on the monthly rent of Rs. 8000/- in Mahesh for a period of 11 months. Bail is Rs.50000/-. You`re making a lease on a 50 rupee paper. Things are going well up to 5 months. Mahesh pays the rent up to 5 months after which he stops paying the rent and also refuses to move.

Ashok approaches the court. The Court imposes the agreement on the stamp duty of the deficit paid and imposes the fine up to ten times the stamp duty. So what will Ashok`s fine pay? Let`s do the math. Amit rented his apartment in Vikas for rent. He made the agreement on the stamp paper of value. But he did not record it in the lower house. The agreement was signed by both parties. For the first 4 months, Vikas paid the rent correctly. the rent was set at Rs 5000. After four months, Vikas ended the rent payment. Amit went to the Court of Justice. Although his consent was duly paid, the court refused to accept the act as evidence.

Vikas claimed that the rent was only 1500, not 3,500/, as Amit claimed. He also refused to sign the deed and totally denied entering into an agreement with the owner. As the document was not recorded, it could never be used as evidence and, for lack of evidence, Amit lost the fight. LegalDesk.com offers a very convenient way to visit your online rental contract and without having to worry about lawyers or looking for stamp papers.