According to Black`s Law Dictionary, stamp duty is a tax levied by requiring stamps sold by the government to be attached to certain documents and thus form part of perpetual income. Stamp duty is payable under section 3 of the Indian Stamp Act 1899. This varies from state to state. Dear Sarfaraz, but you do not pay the interest amounts correctly, so no tax benefits u/s 24. You cannot request principal repayments at u/s 80c. This only applies if you take out the loan from a bank or financial institution, both of which can enter into a formal agreement so that there are no problems and they can process a tax notice (if applicable). Dear Pjl, accept your participations. Due to the unavailability of tax stamps, Pnote can also be executed on stamp papers. I want a loan of Rs 4,00,000/- I am willing to put a stamp paper policy of Rs 100/- who has to pay the lender or borower stamp duty If the tax stamps have the year of printing on top? Article 37 of Schedule 1 of the Bombay Stamp Act stipulates that the stamp duty on the letter of guarantee is one hundred rupees. Stamp duty on the agreement or memorandum of understanding in accordance with Article 5(h) of the Karnataka Mortgage Related Stamp Duty Schedule – Hello Sreekanth, First of all, I would like to thank you for your beautiful blog to help people like me.

I gave my uncle about 10 Lake Loans at 18% interest 2.9 years ago and he gave me a promissory note. This PR expires in 3 months. To date, the outstanding balance of the loan with interest is approximately 16.5 Lakes. So far, he has only paid 50k. Dear M. Reddy, Thank you so much for operating such an informative platform, my questions went astray, but relate to the subject. A year ago, we sold the gold of our ancestral family to a neighbor, who paid about 5% more than the jewelers. We sold it for 10.35000. 35000 were paid in cash and the remaining 10 defects were transferred to my father`s account via NEFT. Now, after 1 year, his ruse took a new turn and filed a civil lawsuit that the transferred money (10 missing) was an interest-free loan for 1 year and we have to return it and also pay interest after the notice of termination.

My father is very tense after receiving the notification. I would humbly thank you if you could guide me with my options. Section 34(d) of the Schedule to the Karnataka Stamp Act establishes a stamp duty on the mortgage deed of movable property if the loan or debt is repayable on request – Yes.The husband agrees to keep the property in his name and ready for a loan agreement. First of all, thank you for having this informative page. In 2014, I borrowed 2 lakhs from a family friend who believed in his insurance to pay it back “soon”. 2 years have passed since then and he casually apologizes when I ask him for my money. I managed to get him to write a PR (on white paper, signed more than 2 rupees of tax stamp, 2 witnesses also signed the PN) retroactive to 2014. My question is: Is this PR enough (I also have the electronic receipt for the bank transfer I made and the recorded conversations with him) to legally force him to return my money? I would be reluctant to sue him if success is not guaranteed. How long this type of litigation lasts on average for the judgment. Thank you again and look forward to your comments. Hi Sreekanth, I am ashish, I gave my uncle a sum of 7lakhs 50 thousand at 1.5% interest per month. We have drafted an agreement for 4 years.

He didn`t even give me the amount of interest (he gave me money for my expenses when I was asked), I asked him to be specific in terms of money. I asked him to make everything transparent and written on paper. As the date of the agreement approached, I asked him to check our account to avoid any misunderstandings about the money. He refuses to review the accounts and asks me to make another deal because he can`t pay the amount now. in fact, he does not give me a specific date on which he will reimburse me. Please suggest a solution to this problem. (What worries me is that if my uncle suddenly expires, their family members won`t safely reimburse me.) This is my concern and asked my uncle to make them sign the agreement (or insurance) to their family members, he also denies this. By the way, our agreement will be reached on the 14th of this month. Please give a solution to my problem, I am worried because I only have this money for my savings. I took out a loan from my wife (4Lakhs) in 2017 and we agreed that she would get my rental income from my old house for the next five years (I am the sole owner). There is no written credit agreement for this. Good news for the people of Delhi!!! The easiest way to pay stamp duty in Delhi is to purchase extrajudicial stamp paper from a state-approved supplier or visit the online www.notarykart.com portal to make sure that stamp paper is an integral part of the documentation process.

Article 44 of the Schedule to the Karnataka Stamp Act stipulates that stamp duty is five per cent (5%) of the market value up to the amount of consideration specified in the repatriation if the consideration for which the property was pledged does not exceed one thousand rupees. Article 27 of Schedule 1A of the Delhi Stamp Act states that the stamp duty on bonds, which are transferable by approval or by a separate deed of transfer, is three rupees and seventy-five paise (Rs.3.75/-) for each rupee five hundred Rs. .