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What Is Stamp Duty | Importance Of Stamp Duty | | DyutiDutta

What kind of costs do you incur when buying a house? Is it just the market price of the house? No. You have to bear the registration costs, stamp duty fees and other costs in addition to the market price of the property. The ownership is legally transferred from the seller to the buyer, only when everything is clear.


This video is all about stamp duty. The speaker explains the concept of stamp duty with examples from the point of view of homebuyers. Stamp duty is a tax levied by the government and varies across states. Under Section 3 of the Indian Stamp Act, 1899, stamp duty is payable on property purchases.


The speaker emphasizes the need for timely payment of stamp duty. The government imposes a penalty of 2%, when stamp duty is not paid on or before the stipulated date. The penalty can go up to 200% of the remaining amount.

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