ARTICAL 5:- Stamp Duty

 1.Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. 

2.The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state to state. 

3.The Centre levies stamp duty on specified instruments and also fixes the rates for these instruments.

4.The payment of stamp duty must be rendered in full. 

5.The collection of the stamp duty must be completed on time, or it will incur fines. 

6.It is a legal document which can be used in court as evidence and has meaning.

7.he penalty for insufficient payment of the stamp duty will be levied at 2% per month and up to a maximum of 200% on the amount to be paid.