The Indian Stamp (Andhra Pradesh Amendment) Act, 1986

Tax19862 sections

The Indian Stamp (Andhra Pradesh Amendment) Act, 1986 updates the central stamp laws specifically for the state of Andhra Pradesh by amending Section 47A. This legislation primarily regulates property and financial transactions where individuals might otherwise undervalue assets to pay less tax. It applies to anyone executing legal documents or registering property transfers within the state. The Act matters because it empowers local authorities to properly assess market values and prevent revenue loss from stamp duty evasion, ensuring that everyone contributes their fair share to public funds during official transactions.

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1. Short title and commencement
2. Amendment of Section 47A, Central Act II of 1899

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