The Indian Stamp (Uttaranchal Amendment) Act, 2002

The Indian Stamp (Uttaranchal Amendment) Act, 2002

The Indian Stamp (Uttar Pradesh Amendment) Act, 2024, is a fiscal legislation that modifies how stamp duty is calculated on Power of Attorney (PoA) documents involving the sale of immovable property in Uttar Pradesh. Its primary purpose is to curb tax evasion where property owners use PoAs to transfer ownership without paying the full conveyance stamp duty. The Act mandates that if a PoA grants authority to sell property, it attracts the same stamp duty as a sale deed, unless the transaction is between specific close family members. This ensures the state collects appropriate revenue on property transactions.

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