February 12, 2017
Stamp Duty

Stamp Duty on Instruments

Applicability of Stamp Duty on documents/instruments: Stamp duty is a duty directly affecting the instrument under which a transfer is made from one person to another person including transmissions. Applicability: Under Section 2(g) conveyance includes: i) A conveyance on Sale/ ii) Every instruments Every Decree or final order of Civil Court including High Court, RBI etc. by which property, whether moveable or immovable or any estate or interest in any property is transferred to, or vested in any other person, inter-vivos (all mutual transfers by even co-owners other than partition) and which is not otherwise specially provided for by schedule-I. Therefore it is to be noted that he Bombay Stamp Act 1958 stipulates that all instruments executed in the state should be subject to levy […]
January 12, 2017

You the Member and your Society

Being member of a cooperative Housing society a person may be facing problems on various issues. Similarly the society Managing committee is also facing several issues and problems. A Managing Committee is elected for a specific period only with a view to look after the affairs of the society. They have to administer the society as per the decisions of General Body Meetings, in which members will decide the policy matters but such decisions should be within the purview of the bye laws, governed by the MCS Act and the MCS Rules. It is no less a task to know the exact meaning and the under lying procedure for a common man as enshrined in the bye laws. Bye laws being a contract between the […]