Several writ petitions were filed before the Bombay High Court challenging the imposition, levy, and collection of stamp duty by the State of Maharashtra on Delivery Orders (DO) under Article 29 of the Maharashtra Stamp Act, 1958 (MSA). These petitions argued that the levy was in conflict wit...
MAHARASHTRA GOVT TO AMEND SECTION 48 (1) OF BOMBAY STAMP ACTNirav Pankaj ShahPrint this
The basic framework of stamp duty is laid down in the Indian Stamp Act, 1899, which authorises the states to modify the same, as per their needs. Accordingly, the government of Maharashtra passed the Bombay Stamp Act, 1958. The payment of stamp duty on leave and licence agreements, is co...
Under the Stamp Act, states have the power to determine stamp duties in a manner that rates are reflective of the specific policies of that state. In Indian states, stamp duty charges vary between 3% and 10% of the property value across states. Registration charges are typically decided by...
Q.I bought some ETF’s recently and noticed I did not have to pay stamp duty ON them as you normally do with other stocks and shares? Does this mean that Exchange Traded Funds are also taxed differently? Are the gains exempt for the first 9K or so, as per capital gains tax?