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What is The Indian Stamp Act, 1899?
The Indian Stamp Act, 1899 mandates stamp duty payment on property transactions, agreements, and financial instruments. It ensures government revenue collection while providing legal validity to documents.
- Stamp Duty Charge: Paid during sales, mortgages, and leases.
- Legal Admissibility: Unstamped documents are invalid in court.
- State-Wise Variations: Rates differ across states.
- Revenue Generation: Funds public services and infrastructure.
Stamp duty legitimizes property transfers, preventing disputes and enabling smooth legal recognition of agreements.
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