you have to stamp duty based on value of your share in property
2) partition deed is not exempt from stamp duty In Andhra pradesh
Is major share in partition deed among co-owners(not family partition )exempted from stamp duty. what's the law in Indian stamp act. in respect to the state of Andhra Pradesh. any clarification would be kindful.
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you have to stamp duty based on value of your share in property
2) partition deed is not exempt from stamp duty In Andhra pradesh
Partition deed attract stamp duty in Andhra pradesh according to the value of the property for registration.
Refer the below schedule for calculating the stamp duty.
http://registration.ap.gov.in/CitizenServices/ACT/Stamp/StampFees.pdf
A partition deed is executed by co-owners. ...
The partition deed is required to be registered at the office of the sub-registrar of the place where the property is situated as in case of any other registration. The stamp duty payable in such a case is Rs 1,000 for each share of the property.
is stamp duty payable on both the largest share and the separated shares in co-owners partition deed.
According to the Indian Stamp Act, 1899, the Central Government levies stamp duty on the exchange of instruments, where an instrument is defined as any document by which any right or liability is created, or is purported to be created, transferred, limited, extended, extinguished or recorded. Under the Companies Act, 1956, stamp duty is payable when a transfer deed is executed for transfer of shares, which is done using Form 7-B
the stamp duty shall be payable on the largest shares remaining after the property is partitioned ( or if there are two or more shares of equal market value and not smaller than any of the other shares, then one of such equal share) shall be deemed to be that from which the other shares are separated:
Any document that is required to be registered before a registrar's office will attract applicable stamp duty besides registration charges.
If you would like to register the partition deed, you may have to pay the applicable stamp duty.
The stamp duty is the state subject, hence you may enquire about the appropriate stamp duty from the local registration department
is stamp duty payable on both the largest share and the separated shares in co-owners partition deed.
The stamp duty is payable on the deed on the whole, it is not based on the individual;'s share of property as mentioned in the schedule of property in the said deed.
It will be based on the value of property mentioned in the deed and not based on the individual share in the property.