Stamp duty is a form of tax levied on certain documents that have a financial obligation or transaction associated with it. Stamp duty is paid to the respective Central Government and Odisha State Government and then the Stamp is printed on stamp paper (for affidavits, deeds, bonds, etc.). Different stamp papers have different stamp values and each document has to be executed on a stamp paper of the mandated value (based on the type of document or value of the transaction/property) to make the said document legally valid and enforceable.
Odisha Stamp Act, 1889
Stamp duty and rules relating to stamp duty in Orissa are governed by the Indian Stamp Act, 1889. The Act was amended by The Orissa Stamp Rules, 1952 followed by the Orissa Additional Stamp Duty Act, 1970. The latter Act was repealed by the Indian Stamp (Orissa Ordinance) Act, 1985. Other notable amendments to the Odisha Stamp Act were made in 2001, 2008, 2013, 2014. The most recent amendment being the Indian Stamp (Amendment) Bill, 2014 which included the payment for stamp duty through franking machines, impression or electronic print, etc. to the existing modes of payment of stamp duty and registration (DD, non-judicial stamp paper, etc.)
The Odisha Stamp (Amendment) Rules, 2013, included the facility of payment of stamp duty and registration charges through e-Stamping (through an authorized vendor, Public agency or Nationalized bank) or through dematerialization of stamping.
In 2014, the Orissa Government had announced a lower stamp duty for the purchase or registration of a house or property or gift deed for women. The rate of stamp duty payable on registration is 5% for all citizens of the State and 4% for all women citizens of Odisha.
The purpose of collecting Stamp duty in Odisha by the respective State Government is to authenticate the registration of immovable property and other instruments (whose value is more than INR 100) during transfer/ sale under Section 17 of the Registration Act, 1908. In a move to empower the citizens of the State, the State Government of Orissa has permitted the use of self-attestation for certain documents in place of attestation by a Gazetted Officer or Notary Officer. Here’s a list of documents that permits self-attestation of affidavits for the State of Orissa.
GRAS And RDMD
e-Challan is a receipt generated by an online revenue system or GRAS (Government Receipts Accounts System) dedicated to generating revenue online from the various departments of the Government. e-Challan is used for compulsorily registrable documents in Orissa and can be paid by logging into the Directorate of Treasuries and Inspection portal. Other challans (such as VAT, CST, RTI, etc.) can be generated and paid for through this portal as well.
- Revenue and Disaster Management Department (RDMD)
To register a land or property, an individual can approach the Revenue and Disaster Management Department, Government of Orissa for the same.
Stamp Duty Charges In Odisha
|No.||Nature of Deed||Registration Fee||Stamp Duty|
|1||Sale Deed||2% of the Consideration money||5% of the Consideration money|
|2||Agreement||2% of the agreement value||10/-|
|5||Bond||2% of bond value||2% of value|
|7||Lease for up to five years||2% of the consideration money||2% of the consideration money|
|8||Lease for more than 5 years||2% of the consideration||5% of the consideration|
|9||Partnership||2% of capital value||200/-|
|10||Power of attorney||250/-||100/-|
|11||Mortgage||2% of loan||2% of loan|
|12||Re-conveyance of mortgage||2% of loan value 0.5% of the loan value in case of agricultural loan||50/-|
Note: To know how to draft a gift deed and how much stamp duty is applicable for the same, check out our article on How To Draft A Gift Deed In Orissa.
Modes Of Payment Of Stamp Duty
|1||Traditional Stamp Paper||Yes||Less than Rs 1000|
|2||e-Stamp Paper||Yes||Rs 1000 and above|
Documents Required For Registration Of A Deed In Odisha
- The document with the requisite stamp duty affixed.
- All documents relating to the ownership of the transacted property.
- Valid photo identity-proof card of all the executants and claimants.
- Three passport size coloured photographs of all the executants and claimants.
- A copy of PAN Card of the executants and claimants if the document is valued more than five lakhs.
- A copy of Income Tax return of the executants and claimants if the document is valued more than thirty lakhs.
- In case of document is registered by an Attorney Holder:
- Registered Power of Attorney
- Photo identity-proof card of the Attorney Holder
- Permission from the Revenue Officer when the property is transferred by a SC/ST person to a non SC/ST person.
- Deposit of the registration fee.
- Permission or a Non Objection Certificate issued by the Competent Authority of Endowments for the transfer of property belonging to a deity.
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