Stamp Duty--Grandparents fall outside the definition of Family--Settlement by Grandchild in Favour of Grandparent Attracts Full Stamp Duty
Under the Indian Stamp Act, 1899, the term "family" in the explanation to Article 59 of Schedule I is exhaustively defined. Grandparents fall outside this definition. A settlement by a grandchild in favour of a grandparent is not entitled to the concessional duty rate under Article 59.
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