If you have an old stamp paper, you can do this: According to the Business Standard newspaper, India`s Ministry of Finance plans to amend a centuries-old Indian stamp law, in which stamp papers will only be valid for one year. The objective of such a change is to put an end to the misuse of stamp paper by preventing people from purchasing backdated papers in order to place their rights on the property in the future, even though no agreement was reached at that time. In addition, electronic stamp duty payment is proposed under the new law to verify the same issue. The impact of stamp duty is generated when the instrument is first executed, which is why the reissue of the document will not serve the purpose. 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 above documents, the Karnataka government imposes stamp duty: it is clear that even during the situation of total deadlock, no commercial transactions are pending, from leases to service agreements and agreements between companies, etc. During the conclusion of contract negotiations, the implementation of the agreement comes into play through electronic signature, as inserted in the Information Act (Amendment) Act, 2008. Section 17 of the Stamp Act specifies when an instrument must be stamped. It says that I purchased stamp paper (Stamp Duty ESBTR) on July 27, 2018 and that I have just received an award letter (dated March 19) from DerMHADA – Maharashtra Housing and Area Development Authority.
You can guide me on how this stamp duty should be used or which ways extend its validity. This arrangement can be very beneficial to you if you have purchased stamps that cost thousands, lakhs or even crores, and for some reasons you don`t need them immediately. In such cases, you can easily return your stamp papers and be refunded by the collector. In accordance with Section 10, any agreement annulled with free consent, by the contracting parties, against a legal consideration, with a legitimate property and not expressly, is a contract in Thiruvengada Pillai Vs. Navaneethammal – Anr. (see here), it has been decided by the Supreme Court that a stamp paper, even if it is more than six months old, is valid for its use. Section 54 bars only, refund after six months of purchase, but it does not limit the use of this old stamp paper for an agreement. Thus, nothing prevents you from using it even after years of purchase. The law does not have a mandatory statute of limitations for its validity.