For the issue against the bank guarantee in Gujarat, which is the stamp duty concerned. A rental contract on a stamp paper is not applicable if it is not registered with a lower registrar. That is why we have an obligation to note the same thing in a sub-chancellorship function in order to make it legally enforceable in the event of a dispute. Stamp duty must be paid in accordance with Section 3 of the Indian Stamp Act, 1899. This is a tax paid to the state, similar to that of income tax. Stamp duty must be paid in full and must be paid within the allotted time. If the payment of stamp duty is delayed, a fine is imposed. An instrument or document to pay stamp duty is considered a legal and legitimate document and may be admitted into evidence in court. Any document that is not properly stamped cannot be admitted as evidence in court. Stamp duty or non-postal stamps are collected at a crossroads (M.S. Building, Lal Darwaja Boro) and then distributed to the rest of Gujarat. The head of the knot is the superintendent of stamps. Non-postal stamps are received by the India Security Press Nasik and distributed to district finance offices throughout the state.
You will find a list of recorders and non-recorders under stamp duty in the state of Gujarat. Stamp duty due in the state of Gujarat is governed by the Gujarat State Stamp Act of 1958, based on the Bombay Stamp Act of 1958. We had to notice that most leases are for 11 months. We might even wonder why. This is mainly to avoid stamp duty and other taxes. Under the 1908 Registration Act, registration of a lease is mandatory if the term of the tenancy is extended by 12 months. When an agreement is registered, the parties must pay stamp duty and deposit fees. If the agreement is made for 11 months, it could save a few extra dollars and the time that would last the entire registration process. The value of the stamp tax is printed after payment of the tax imposed on stamp paper or electronic stamp paper. Stamp documents have different stamp values and any type of document/document must be executed on a stamp paper of a required value.
The value of the stamp varies from region to region and depending on the value of the deed or transaction executed. Once the contract has been concluded and signed and the lease is less than one year old, the document can be certified by the notary and, if the lease is more than one year, it must be registered with the local sub-registrar to make it enforceable in the event of a dispute. A registered lease retains more probative force than notarized. Therefore, if you are looking for or living in a rented house, apartment or house, you must register the same thing and stamp duty must be paid for it.