However, responsibility for the payment of stamp duty shall lie with one of the Contracting Parties, in accordance with the agreement concluded between them. In the absence of such an agreement, stamp duty is liable to the person who can be determined in accordance with section 29 of the Indian Stamp Act. Following the outbreak of COVID-19, the Ministry of Finance established the declaration number. F. No S.33013/3/2019 ST-I, DOR of 30 March 2020 has notified the applicability of the amendments which are renewed and enter into force from 1 July 2020. When referring to an agreement or contract, it is important to comply with the provisions of the Indian Contracts Act 1872 (« the Act ») if you enter into an economy by e-mail or any other Internet media. You must have your agreements stamped within 30 days after you and the lessor have signed (if the contract is performed in Malaysia). When the instrument is exported outside Malaysia, it must be stamped within thirty days from the date on which it was obtained by the favourable party. In such cases, the value established by the stamp duty authority on the date of the agreement may be considered as a calculation of the total value of the transfer of assets.
If the stamp duty on an agreement has been deferred, the taxpayer or his agent must ensure that the deferred tax is paid at the later due date. If the transaction failed, please request the stamp duty exemption by completing Form U3/SOA/F04. In the event that the indicated taking into account of a contract for the sale of a residential property has been modified by an amendment before the transfer, the Office des estampes shall take into account, in calculating the amount of stamp duty to be paid, all the facts available on the date of the stamp. For more details, please see the following link. Only one question, once we have executed the documents electronically, we will be able to re-execute them later, the date on which the stamp duty will be paid, given that it was previously executed electronically in accordance with the IT ACT 2000; However, in accordance with the Stamp Act, the date of stamp duty may not be before execution. It is obvious that even in the situation of complete lockdown, no commercial transactions are frozen, from leases to service contracts to agreements between companies et al. Therefore, stamp duty must be paid before or at the time of performance of the electronic contract and can no longer be paid after performance. within thirty days of the relevant date (i.e. the date of the agreement or the date of the first agreement concluded by the same parties under the same conditions if the agreement to be entered into is preceded by one or more of those agreements), unless otherwise provided for in the Regulation from 30 June 2011, all contracts for the sale and purchase of residential property; signed on or after that date shall not be eligible for deferral of payment of stamp duty. « As a busy in-house practitioner, I rarely have time to participate in formal seminars and conferences. This is why I find the press releases of the various law firms invaluable in keeping me informed of the evolution of the law and recent jurisprudence. .