Stamp Duty On Novation Agreement In Karnataka

In the event that possession is not given or agreed to be given, the stamp duty paid is five rupees per mile, or 0.5% for the amount guaranteed by that deed. The low cap for the payment of stamp duty is one hundred rupees (Rs. 100/-) and the top cap is ten lakh rupees. … and between the parties, and it was in that opinion that it was decided that the compromise clause could not be invoked if the statement was not quashed. This is not the position h …) The interpretation and/or application of section 52 of the agreement would constitute a dispute that would fall to the arbitrator. v) The effect … The compromise clause of a contract exists despite the alleged satisfaction. 2. The parties to this appeal have reached an agreement for a project in Kayamkulam. At the end of the… Section 37 of Schedule 1 of the Bombay Stamp Act stipulates that stamp duty must be included on the letter of guarantee of 100 rupees. Section 25 of the BS Act imposes stamp duty, which must be paid on a deed of transport relating to personal property and/or buildings.

However, the BS Act expressly provides that when an agreement to sell a property results in the transfer of ownership of that property before or after the execution, the same applies as a right of transport and stamp duty. The BS act also provides an exception in the event that the „sale agreement“ is considered transport. When the BTA itself transfers the property and real estate that make up the business, which results in the document being duly stamped as transport in accordance with Section 25 of the BS Act, the stamp duty paid on that agreement is appropriate for the total stamp duty levied on the deed of transport. … Sanjib Banerjee, J.:- The court: two reasons were requested in this motion to quash a sentence. The first reason that has been taken is that there is a novation… The contract, which is governed by the compromise clause, was taken over by a third party with the agreement of the parties to the original matrix contract. In any case, it was for the petitioner t… a party other than the petitioner was required to pay the amount to the respondent and such an innovation extinguished the compromise clause of the original agreement…