0

Stamp Duty Law: Stamp Duty Refunds

Description: This quiz is designed to test your knowledge of the Stamp Duty Law, specifically focusing on the topic of Stamp Duty Refunds.
Number of Questions: 15
Created by:
Tags: stamp duty law stamp duty refunds indian law
Attempted 0/15 Correct 0 Score 0

In India, what is the time limit for filing a claim for a stamp duty refund?

  1. 30 days

  2. 60 days

  3. 90 days

  4. 120 days


Correct Option: C
Explanation:

According to the Stamp Duty Law, a claim for a stamp duty refund must be filed within 90 days from the date of the transaction.

Which of the following is NOT a valid reason for claiming a stamp duty refund?

  1. Overpayment of stamp duty

  2. Incorrect calculation of stamp duty

  3. Cancellation of the transaction

  4. Change in the property value


Correct Option: D
Explanation:

A change in the property value is not a valid reason for claiming a stamp duty refund.

What is the procedure for claiming a stamp duty refund?

  1. File an application with the Stamp Duty Authority

  2. Submit the original stamped document

  3. Pay a processing fee

  4. All of the above


Correct Option: D
Explanation:

To claim a stamp duty refund, one must file an application with the Stamp Duty Authority, submit the original stamped document, and pay a processing fee.

In which cases is a stamp duty refund not allowed?

  1. When the document is not properly stamped

  2. When the document is forged or altered

  3. When the transaction is illegal

  4. All of the above


Correct Option: D
Explanation:

A stamp duty refund is not allowed when the document is not properly stamped, when the document is forged or altered, or when the transaction is illegal.

What is the maximum amount of stamp duty that can be refunded?

  1. The entire amount paid

  2. 50% of the amount paid

  3. 25% of the amount paid

  4. 10% of the amount paid


Correct Option: A
Explanation:

The maximum amount of stamp duty that can be refunded is the entire amount paid.

Who is responsible for paying the stamp duty refund?

  1. The Stamp Duty Authority

  2. The seller of the property

  3. The buyer of the property

  4. The government


Correct Option: A
Explanation:

The Stamp Duty Authority is responsible for paying the stamp duty refund.

What is the time frame for processing a stamp duty refund claim?

  1. 30 days

  2. 60 days

  3. 90 days

  4. 120 days


Correct Option: B
Explanation:

The time frame for processing a stamp duty refund claim is 60 days.

Can a stamp duty refund be claimed for a document that has been partially stamped?

  1. Yes

  2. No


Correct Option: B
Explanation:

A stamp duty refund cannot be claimed for a document that has been partially stamped.

What is the penalty for filing a false or fraudulent stamp duty refund claim?

  1. Fine

  2. Imprisonment

  3. Both fine and imprisonment

  4. None of the above


Correct Option: C
Explanation:

The penalty for filing a false or fraudulent stamp duty refund claim is both fine and imprisonment.

Which of the following documents is exempt from stamp duty?

  1. Sale deed

  2. Lease deed

  3. Gift deed

  4. Power of attorney


Correct Option: D
Explanation:

Power of attorney is exempt from stamp duty.

What is the rate of stamp duty for a sale deed in India?

  1. 1%

  2. 2%

  3. 3%

  4. 4%


Correct Option: B
Explanation:

The rate of stamp duty for a sale deed in India is 2%.

Can a stamp duty refund be claimed for a document that has been stamped with the wrong value?

  1. Yes

  2. No


Correct Option: A
Explanation:

A stamp duty refund can be claimed for a document that has been stamped with the wrong value.

What is the procedure for obtaining a stamp duty refund for a document that has been stamped with the wrong value?

  1. File an application with the Stamp Duty Authority

  2. Submit the original stamped document

  3. Pay a processing fee

  4. All of the above


Correct Option: D
Explanation:

To obtain a stamp duty refund for a document that has been stamped with the wrong value, one must file an application with the Stamp Duty Authority, submit the original stamped document, and pay a processing fee.

What is the time limit for filing a claim for a stamp duty refund for a document that has been stamped with the wrong value?

  1. 30 days

  2. 60 days

  3. 90 days

  4. 120 days


Correct Option: C
Explanation:

The time limit for filing a claim for a stamp duty refund for a document that has been stamped with the wrong value is 90 days.

Can a stamp duty refund be claimed for a document that has been stamped in a foreign country?

  1. Yes

  2. No


Correct Option: B
Explanation:

A stamp duty refund cannot be claimed for a document that has been stamped in a foreign country.

- Hide questions