Stamp Duty On Slump Sale Agreement In Karnataka

Article 25 of Schedule 1 of the Bombay Stamps Act stipulates that stamp duty on service charges related to the merger of companies under the Corporations Act is equal to 10% of the market value of shares issued or awarded in exchange or by other means and the amount of consideration paid against such a merger. The article sets a cap on stamp duty; Article 23 of The Act`s Schedule AI stipulates that stamp duty on transport related to the sale of real estate is six per cent on market value if the market value is less than the rupee, twenty-five lakhs and seven per cent if it exceeds the 25 Lakh rupees. Section 25 of the Bombay Stamp Act states that stamp duty on mobile property transport is three per cent of the market value of the property. Similarly, Article 5, Point g) of the Act imposes stamp duty due for an agreement to sell personal property. If the possession of personal property is delivered or agreed without the execution of a deed of transport, the stamp duty provided for by this agreement is 3% (3%) the counterparty or market value of the property, depending on the higher value. In the event that ownership of the property is not delivered, liability for the stamp is limited to 20,000 INR. In addition to these provisions, a residual clause in Section 5, point d) of the KS Act provides that any agreement that is not expressly provided for in Article 5 is duly stamped in INR for two cents. Therefore, stamp duty due to a BTA in force in the State of Karnataka depends on the structure of the BTA, whether the transport activity is carried out by the parties with respect to the personal property belonging to the company and that a company purportedly transferred under a BTA can be equated with mobile or mobile real estate. Any other document relating to the share transaction is a share sale document.

Seven per cent (7%) if the value of the property exceeds thirty lakhs (rule 30.00,000/-) and is located where the Kolkata Improvement Act, 1911 or the Howrah Improvement Act, 1911. The stamp duty rate is the same if the property is located in other subsections a. The sale agreement is also a document related to the sale and therefore falls within the purview of the article. The stamp duty charged can range up to two rupees for every thousand rupees of the monetary value indicated in the agreement. A BTA agreement falls directly under Section 5, point h) (h) (h) a) of the BS Act. Despite the general nature of the description in section 5, point h) h), the BS Act maintained a residual regime covered by section 5, point h) B), which imposes INR Hundred stamp duty (100) with respect to agreements not provided elsewhere. Since Article 5 H) H) specifies the instrument, a VZTa exported to the State of Maharashtra should be duly stamped in accordance with Article 5, point h) (h) (a) (a) and not Article 5, point h) b). Could you share pls the current stamp duty in accordance with Article 20 paragraph 4 (i) for mergers in Karnataka.Kindly also send me the notification if possible. Through section 20 of the Karnataka Stamp Act calendar, the stamp duty of five per cent on the market value of the property.

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