Stamp Duty

What is Property Tax? When you purchase a home or piece of property, the tax you pay annually to local government for municipal services such as police and fire protection is often, fittingly, called property tax. What is Stamp Duty? Stamp duty is a tax imposed on the sale of property/property ownership by the state government. It is payable under Section 3 of the Indian Stamp Act, 1899. The...

Undestanding Maharashtra Stamp Act At any point, if any movable or immovable resource/asset changes ownership, to get it stamped or legalized – a specific amount of tax has to be paid to the state government, which is known as stamp duty. The Maharashtra Stamp Act states such resources and assets on which the stamp obligation must be paid to the state government. The Act additionally specifies the...