pcs
21 Points
Joined February 2011
many requests wrt stamp duty payable for transfer of immovable property after part nine coversion have been raised.There is no clear cut answer for this though courts have in many cases held that no conveyance or transfer is involved and section 575 clearly speaks of 'legal vesting' of property, the practical problem is local state governments and revenue authorities do not understand this provision and they insist on registration of sale through a conveyance deed and payment of stamp duty at current guidance values fixed by govts , this poses a serious problem and entails lot of expenditure, it wud appear as if the provisions of CA act are rendered nugatory if local govts insist on conveyance and stamp duty. if anyone has been able to sucessfully transfer immovable property without a separate conveyance and stamp duty, pls respond.
b v ramesh
pcs, b'lore.