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Friday 21 December 2018

Stamp duty cannot be charged in retrospect on resale of old Flats : HC

MUMBAI: In a judgment that offers far-reaching relief to prospective sellers and buyers of old properties in Mumbai where stamp duty is steep now, Bombay high court held stamp duty authorities cannot levy tax on old “historically concluded transactions”. 

“Stamp is attracted by the instrument (sale deed), not the underlying transaction…,” said justice Gautam Patel in an order on December 13.  read more...

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