I came across a query multiple times: what happens if you don t pay stamp duty? If you don’t pay stamp duty when required, several consequences can arise, including:
You may incur penalties, which can be a percentage of the unpaid stamp duty or a fixed fine. These can accumulate overtime.
Besides penalties, interest may be charged on the amount of unpaid duty, increasing the total amount owed.
Authorities may start legal proceedings to recover the unpaid stamp duty, leading to potential court cases.
Without paying the required stamp duty, you may not legally register the property, which means you cannot prove ownership.
Unpaid stamp duty can lead to complications in future property transactions or when applying for loans against the property.
In extreme cases, authorities may take measures to seize the property or place a lien on it until the dues are cleared.
To avoid these issues, it's crucial to ensure that stamp duty is paid on time. I hope your query on what happens if I don t pay stamp duty is solved.
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What Happens If You don't Pay Stamp Duty?
Karanveer
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1 Answers
3 months
2024-10-16T13:56:28+00:00 2024-10-17T22:33:26+00:00Comment
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