Answer the following with legal provisions under The Indian Stamp Act, 1899: There is a contract of exchange, in which, Amit transfers his land to Sanjay, in return Sanjay transfers his house to Amit. By whom will the st

Section 29 of the Indian Stamp Act, 1899 (the Act) deals with the persons responsible for payment of duty. According to Section 29(e), In the absence of an agreement to the contrary, the expense of providing the proper stamp shall be borne in the case of an instrument of exchange including swap by the parties in equal shares. Therefore, in the first situation expenses of duty will be borne by both Amit and Sanjay equally. According to Section 29 (f) of the Act, in the case of a certificate of sale the expense of providing the proper stamp duty shall be borne by the purchaser of the property in which such certificate relates. Therefore, in the second situation where Sanjay pays money in return then the expenses of duty will be borne by Sanjay only.