Explain the following: Is attestation, registration and stamping is necessary for an Agreement ?
CS Professional · Drafting, Pleadings and Appearances · PYQS · December 2021
Explain the following: Is attestation, registration and stamping is necessary for an Agreement ?
Answer & Explanation:
Attestation: It is not necessary for an agreement to be attested by any witness. But agreements are usually attested by one witness. Where registration is desired the agreement should be attested by two witnesses. Registration: Agreements not relating to immovable property and agreements not creating an interest in immovable property are not compulsorily registerable. Only agreements creating an interest in immovable property worth more than ₹100 are required by law to be registered. Stamp Duty: For the purpose of stamp duty, agreements are covered by Article 5 of schedule I to the Indian Stamp Act, 1899. The stamp duty for different kinds of agreements varies from State to State. While drafting an agreement draftsman should ascertain the proper stamp duty having regard to the changes made in the Stamp Act in the State where the agreement is executed.
Topics: Deeds and Documents
Related Questions in this Topic
- In the light of Judicial pronouncement(s) discuss the following: Stamp Duty and Registration of Gift Deed.
- Draft a deed of sale by the liquidator of a company who has gone in voluntary liquidation. Assume facts.
- Enumerate the usual parts or components or clauses of a deed.
- The date of the execution of a deed is material for the purpose of limitation and registration of the document. If the d...
- Write short notes on the following: Reference and Review under Civil Procedure Code 1908.