Answer the following with legal provisions under The Indian Stamp Act, 1899: Three brothers A, B and C are joint owners of a land. They divide this land in the ratio of 1:1:2 through a mutual agreement. By whom will the
CS Executive · Jurisprudence, Interpretation and General Laws · PYQS · December 2023
Answer the following with legal provisions under The Indian Stamp Act, 1899: Three brothers A, B and C are joint owners of a land. They divide this land in the ratio of 1:1:2 through a mutual agreement. By whom will the stamp duty be paid?
Answer & Explanation:
According to Section 29(g) of the Indian Stamp Act, 1899, in the case of an instrument of partition the proper stamp duty shall be borne by the parties thereto in proportion to their respective shares in the whole property partitioned or, when the partition is made in execution of an order passed by a Revenue Authority or Civil Court or arbitrator, in such proportion as such authority, Court or arbitrator directs. In this given situation as the property is partitioned by mutual agreement in the ratio of 1:1:2 between A, B and C, the expense of stamp duty will be borne by A, B and C in the ratio of 1:1:2 respectively.
Topics: General Laws
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