Bombay Stamp Act

1. Stamp duty is not attracted for transfer of Immovable property by Will or by nomination in a Co operative Housing Society.

2. Stamp duty is payable on transfer of flat from Husband to Wife or Children. 10% rebate may be expected during valuation. Stamp duty will be at normal rates.

3. In case of exchange of properties, Stamp duty is payable only on that property whole valuation is maximum.

4. In the absence of any agreement in contrary stamp duty is paid by the transferee.

5. Adjudication of unsigned documents is valid up to 31st December of that year for the purpose of valuation.

6. Refund of Stamp duty should be claimed within 6 months from the date of stamping. Refund is granted on spoiled paper, blank document or document executed but afterwards found to be unfit. An application should be made to collector of stamps, Mumbai.