section 32A
Instrument of conveyance, etc. undervalued how to be dealt with.
The Bombay Stamp Act, 1958Tax195862 sections6 chapters
Chapter III ADJUDICATION AS TO STAMPS
Statutory text
- (1) Every instrument of conveyance, exchange, gift, certificate of sale, deed of partition or power of attorney to sell immovable property when given for consideration, deed of settlement or transfer of lease by way of assignment, presented for registration under the provisions of Registration Act, 1908, shall be accompanied by a true copy thereof : Provided that, in case of such instruments executed on or after the 4th July 1980, to the date of commencement of the Bombay Stamp (Amendment) Act, 1985, an extract of the instrument to be taken from the registration record shall be deemed to be the true copy accompanying the instrument, presented for registration for the purpose of sub-section (1). (2)(a) If any officer registering such instrument has reason to believe, on the basis of the information available with him in this behalf, that the market value of the immoveable property which is the subject matter of such instrument has not been truly set forth therein, he may, immediately after presentation of such instrument, give a notice to the person who is liable to pay the stamp duty under section 30, calling upon such person to pay the deficit amount of stamp duty and a penalty at the rate of 2 per cent. of the deficit portion of the stamp duty, for every month or part thereof from the date of execution of such instrument. If such person is willing to pay the amount of the deficit stamp duty and penalty thereon, the registering officer shall accept the payment. The procedure laid down in sub-section (3) of section 10 shall, mutatis mutandis, apply to such payment.
- (b) If such person does not make the payment
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