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Stamp Duty & Registration : Adjustment on Resale

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Stamp Duty & Registration : Adjustment on Resale

Last updated: May 28 2017
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  • Stamp Duty & Registration : Adjustment on Resale

    I am looking to buy a resale flat in Bangalore for INR 60L. Now, the seller had purchased this flat less than one year back (seller is now selling because he is moving out of Bangalore). My question is whether I can adjust the stamp duty that the seller has paid against my purchase.

    So, say if the seller had paid INR 3.5L in stamp duty while purchasing this flat less than a year back; can I adjust this against the stamp duty that I pay and pay INR 3.5L less?

    Asking this because this principle applies in some of the other taxes that I am aware of and ensures that you don't end up paying taxes multiple times for the same 'asset' that is purchased and resold?

    Also, found this old article that seems related: http://economictimes.indiatimes.com/...2.cms?from=mdr

    Does anyone know if there is a similar law/ rule in Bangalore or Karnataka?
    Last edited May 28 2017, 11:37 AM. Reason: clubbed post
  • #2

    #2

    Re : Stamp Duty & Registration : Adjustment on Resale

    Siddaramaiah doesn't believe in giving profits to anyone other than himself. There is no such rule and you have to pay full stamp duty on the sale value.

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    • #3

      #3

      Re : Stamp Duty & Registration : Adjustment on Resale

      Originally posted by Somashekar View Post
      Siddaramaiah doesn't believe in giving profits to anyone other than himself. There is no such rule and you have to pay full stamp duty on the sale value.
      Maharashtra or Karnataka, no exemption from paying stamp duty.
      Last edited May 28 2017, 09:37 PM.

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