Podcast
Questions and Answers
Under which Act is the property registration process governed in India?
Under which Act is the property registration process governed in India?
Who has the authority to determine the true market value of property if the registering officer has doubts?
Who has the authority to determine the true market value of property if the registering officer has doubts?
Which document must be submitted along with the original instrument during registration?
Which document must be submitted along with the original instrument during registration?
When can an instrument be deemed as 'duly stamped'?
When can an instrument be deemed as 'duly stamped'?
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Under which section is an endorsed instrument deemed to be duly stamped?
Under which section is an endorsed instrument deemed to be duly stamped?
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Which of the following documents requires registration under the Act?
Which of the following documents requires registration under the Act?
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The market value of property for stamp duty is determined based on:
The market value of property for stamp duty is determined based on:
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When a document is not chargeable with duty, who certifies this?
When a document is not chargeable with duty, who certifies this?
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Which of these is NOT mentioned in Schedule I as chargeable with duty?
Which of these is NOT mentioned in Schedule I as chargeable with duty?
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What happens if the registering officer finds the market value understated?
What happens if the registering officer finds the market value understated?
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Study Notes
Property Registration in India
- Governing Act: The Registration Act, 1908 governs the property registration process in India.
Determining Market Value
- Officer Doubtful: If the registering officer has doubts about the true market value of a property, the Collector has the authority to determine it.
Required Document During Registration
- Essential Document: A true copy of the instrument must be submitted along with the original during registration.
Stamp Duty and Endorsement
- Stamping a Document: An instrument is considered 'duly stamped' after the collector's endorsement.
- Section for Endorsed Instrument: Section 53-A of the relevant act deems an endorsed instrument as duly stamped.
Documents Requiring Registration
- Examples of Registrable Documents: Gift deeds of immovable property require registration. Other documents like power of attorney, wills, and rent agreements (for periods less than 11 months) may not.
Determining Stamp Duty Value
- Basis for Market Value: The circle rate determines the market value of property for stamp duty purposes.
Non-Chargeable Documents Certification
- Non-Chargeable Certification: The Collector certifies a document as non-chargeable with stamp duty.
Exemptions and Chargeable Documents
- Non-Chargeable Document: Wills are not mentioned in Schedule I as chargeable with duty.
- Chargeable Documents: Exchange deeds and certificate of sale are typically chargeable documents.
Market Value Discrepancies
- Understated Market Value: If the registering officer finds the market value understated, the matter is referred to the Collector for clarification.
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Description
Test your knowledge about the property registration process in India governed by the Registration Act, 1908. This quiz covers essential topics including market value determination, required documents, and stamping provisions. Dive into the specifics of what documents are required for registration and the implications of endorsements.
