A sale deed is to be stamped as a conveyance as defined by Article 23 of Schedule 1 of Indian Stamp Act, 1899. Stamp duty is payable on the basis of the amount or value of sale consideration as mentioned in the sale deed, which may vary from state to state. The portion of stamp duty paid on an agreement to sell, executed prior in time, would be excluded in determining the duty for a conveyance by sale.
Non-stamping may lead to
- Impounding of the document
- It will not be admitted as evidence for any purpose
- It would not be acted upon
- Improperly stamped deed will not be registered
- It will not authenticated by any person