Definition: Stamp duties are imposed on instruments and not transactions. An instrument is defined as any written document and in general – stamp duty is levied on legal, commercial and financial instruments. Please refer to the 3rd schedule of Stamp Act 1949 for the person who is liable to pay the stamp duty.
Exemption / Relief from stamp duty
A company may apply for stamp duty relief under Stamp Act, 1949 if the following circumstances applies:
For disposal of real property or shares in real property companies, there is a requirement of submitting a copy of Form CKHT 1A or a copy of Form CKHT 1B in addition to the documents stated in the checklist for the application of stamp duty relief in STAMPS.
If you need further clarification or information, please contact us.
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