4.7 Any person who bears and pays stamp duty is the matter of the agreement between the parties. In the absence of such an agreement, the law provides that in the event of a transfer, the tax must be paid by a buyer and, in the case of a lease, by the tenant. In the case of obligations, release, settlement, it must be paid by the person who manufactures or pulls the instrument. In the event of an exchange, it must be paid equally by the parties and, in the event of division, by the parties in relation to their respective shares. In all other cases, it must be paid by the person who performs the act. 2. Subsequently, the lending bank will annex the loan agreement printed above with the said stamp document, treated as a loan agreement executed on an appropriate stamp document in accordance with the law. 2. However, the established practice is to obtain this loan agreement on a stamp document of Rs 50 or by affixing a tax stamp. Philatelic paper is still available in some cities of India, but not freely. Whenever a mortgage is created, the mortgage deed is written on 100 rupees of stamp paper, so you have to pay 100 rupees of stamp paper to the bank and no other stamp duty applies to mortgages. The same duty as that of a counterparty-level transfer In today`s economy, where the risk of mine clearance through banks and financial institutions is significant, the aspects of third-party effectiveness and admissibility as evidence of transaction documents are essential; The stamping of these documents is a key factor in such aspects.
The stamp of the financing documents is a matter of state (with the exception of certain specific instruments falling within the scope of the central decree) and the parties should therefore refer to the stamp laws of the State concerned and any clarifications or flexibilities of the competent Land government. The central government has asked various national governments „not to impose sanctions with regard to the instruments of the credit agreement if they are stamped within a reasonable time (e..B g. 30 days) after the lifting of the covid 19 lockdown“. Based on publicly available information, it appears that, so far, only the State of Maharashtra has provided clarification on this. . . .