Licences & Legal
Stamp Duty — Meaning
A state tax on documents such as sale deeds, leases and agreements, needed for them to be admissible as evidence.
What is Stamp Duty?
Stamp duty is levied by states on instruments such as property sale deeds, gift deeds, leases, partnership and LLP agreements, share transfers and many contracts. Rates differ by state and document; property duty is charged on the higher of price and guidance value. An insufficiently stamped document can't be admitted as evidence until duty and penalty are paid. Most states allow e-stamping or franking instead of physical stamp paper.
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