April 11, 2021 - No Comments!

Revenue Stamp For Loan Agreement

Interest-free loans are not taxable in the hands of the lender or borrower. But if you calculate interest, then the interest they add up on loans should be treated as "income from other sources." This income should be included in your income tax return (lender). A friend of mine is in the United States and his wife is in India. His wife expects money from her husband so she can take a country and build a house in Hyderabad. But she wants to keep the property in her name and she is ready to repay her husband in the future (interest and principal amount). Now, what type of loan contract should be established between wife and husband and the loan contract should be no problem, even if there is a problem in the future, such as divorce/separation, etc. Examples of exceptions, remissions or stamp duty exemptions are: The loan contract is executed on 500 stamps, depending on one state to another. The two documents are, for different purposes, a stamp duty thus separated. Dear Sir, my mother had granted cash loans to the known person. The loans were made in good faith and with the assurance that they will be repaid when necessary and with interest. However, the insurance turned out to be a big lie and the person started to avoid all our calls. We got blank cheques signed by her and we too got to sign it on the change of sola. We also have a photocopy of their real estate document.

These are the only documents we have. Now, even after repeated requests, this person dodges the payments and there is no indication that the money is returned. This causes great psychological torment for us within our family and has forced us to have a strained relationship with my mother, who is 65 years old and who has affected her mental and physical health. I worry about losing my mother because of this tension. In addition, I learned that he had threatened to declare himself a loser in the run-up to the court. This statement from him stifled our hopes of getting the money back from him. Please help us and advise yourself. Dear Sandeep, with regard to stamp duty, which sets the amounts and one must consult the relevant stamp rates of the state in which the document is executed. Stamp duty varies depending on the length of the loan, as well as quantum and type of loan. I can still mention interest after the end of the mention mandate in the stamp paper contract even of no condition if the principal is not returned in a private credit file to a known person 1, no, there is no need for a separate payment on stamp duty of the loan contract. As far as the duty of the state is concerned, it generally varies from state to state.

Nevertheless, there is a general pattern that is followed. Let`s take a look, for example, at the stamp duty imposed by the Karnataka government. Beyond the documents above, the Karnataka government imposes a stamp duty: Well, although he is a good friend of mine, I want to be in a safe corner. That is why I would like to conclude a mutual agreement with him, in which it is said: "I stand only as guarantor and all debts/loans taken care of are borne only by him and debited automatically from his savings account.

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