1. Instrument of Partnership: the stamp duty is Rs. 1000/-.
2. Reconstitution Deed: the Stamp duty is Rs. 500/-.
3. Reconstitution Deed when an outgoing partner/s leaves the immovable property with the firm, which was contributed as share/s by the said partner: the Stamp duty is payable of the market value of the Immovable Property remaining with the firm at the same rate of conveyance i.e. 7.5% of the value.
4. Dissolution of the firm when the property belonging to one partner, when the partnership commence is distributed/ allotted given to another person/s: the Stamp duty is payable on the market value of the property distributed/allotted.
5. In other cases of Dissolution: the Stamp duty is Rs. 500
POWER OF ATTORNEY –
1. Power of Attorney includes any instrument empowering a specified person(s) to act for and in the name of the person executing it.
2. In India including Karnataka, Power of Attorney is required to be stamped with prescribed stamp duty.
3. It may be authenticated by a notary.
4. Married women have power to appoint an Attorney on her behalf for executing non-testamentary documents.
5. Power of Attorney is not valid for executing a WILL.
6. General Power of Attorney or Special Power in favor of an agent for different purposes, to represent in court cases, sale or purchase of property, management of property, executing deeds or documents etc., may be delegated by any Trustee, merchant, company, individual, NRI, firm etc.,.
7. Power of Attorney authorizing executing and / or registration of a Sale Deed with respect to immovable property or any such registration of a deed for transfer of immovable property, in any manner, requires compulsorily registered power of attorney under the registration Act.
8. In India power of attorney can be registered in the registrars office.
9. If a power of attorney is executed outside India in that case the instrument can be authenticated by a notary public of that country or by the Consul of Indian Embassy (for the purpose of property registration)
10. Any sale deed or any other deed executed by a person authorized under un-registered power of attorney is invalid and no title passes under the same.
11. The stamp duty in Karnataka for general or special power of attorney is Rs.100/-. In addition to this, if the power of attorney is registered, registration fee is payable.
12. Power of attorney authorizing more than five but not more than 10 persons to act jointly and severally then the stamp duty is Rs. 200/-.
13. When given for consideration and authorizing the attorney to sell immovable property, stamp duty is equivalent for market value, i.e., presently 9.04% on the market value of the property.
14. When given to promoters and developers for development, sale or transfer of any immovable property in Karnataka – Rs. 1,000/-.
15. When given to a person other than mother, father, wife or husband, son, daughter, brother, sister in relation to the executant and authorizing, such persons to sell immovable property – 8% as stamp duty on market value (Duty paid on such power of attorney is adjustable towards the sale deed).
16. There is provision for depositing the original instrument of power with High Court or District Judge, if the High Court has framed the relevant rules.
17. High Courts of Mumbai, Chennai and Punjab &Haryana have framed rules for deposit of Power of Attorney.
18. Instrument executed by M D without company seal is invalid.
REGISTERED SALE AGREEMENT
1. Any document containing contract to transfer, for consideration, any immovable property shall be registered, if the purchaser/transferee has taken possession of the property under the sale agreement / contract.
2. If such sale agreement is not registered as required U/s 17 (1-A) of the Indian Registration Act, 1908, in such case the purchaser shall not be entitled for protection of his possession of the property. Therefore, the purchaser without registered sale agreement shall not be entitled to seek relief of injunction in respect of possession of the property.
3. Section 17(1-A) was introduced with effect from the year 2001.