This article is all about Stamp Duty and Registration Charges in West Bengal 2022-23, which provides a comprehensive guide to understanding the rates, area-wise stamp duty rates, and how to calculate and pay stamp duty and registration charges online. This article also explains the factors influencing the charges and the procedure to get a refund of stamp duty and registration charges paid.
Latest Updates on Stamp Duty in West Bengal The West Bengal state government has announced a 10% rebate on circle rates and a 2% rebate on stamp duty and registration charges for home buyers. The rebate is valid until September 2023. The increased rebate was earlier valid till 31st March 2023.
Current Stamp Duty Rates in West Bengal Under Section 3 of the Indian Stamp Act, 1899, the State Government of West Bengal collects stamp duty on property. Stamp duty is a tax that the buyer has to pay to the government while purchasing a property. The rates of stamp duty and registration charges are the same for men and women in West Bengal.
The penalty for non-payment of stamp duty can range from 2% to a maximum of 200% of the remaining amount. Stamp duty is applicable on all types of instruments pertaining to immovable property, except for transfer by will instrument. Payment of stamp duty is a must for almost all types of property sale and transfer through various instruments.
Area-wise West Bengal Stamp Duty Rates The stamp duty rates vary based on the location of the property. The following table highlights the West Bengal stamp duty rates across different areas:
| Area of Property | Property Value less than Rs 25 Lakh | Property Value more than Rs 40 Lakh |
|---|---|---|
| Howrah | 4% | 5% |
| Kolkata | 4% | 5% |
| Siliguri | 4% | 5% |
| Durgapur | 4% | 5% |
| Kharagpur | 4% | 5% |
Stamp Duty and Registration Charges West Bengal 2023 The West Bengal stamp duty and registration charges for different property locations are as follows:
| Property Location | Stamp duty for property up to Rs 25 Lakh | Stamp duty for property above Rs 25 Lakh | Registration fee |
|---|---|---|---|
| Corporation (Kolkata/Howrah) area | 6% | 7% | 1% |
| Municipal Corporation Area | 6% | 7% | 1% |
| Areas that do not fall under the above two | 5% | 6% | 1% |
Calculating West Bengal Stamp Duty Charges The stamp duty is calculated based on the market value or the agreement value of the property, whichever is higher. The formula for calculating stamp duty is:
Stamp Duty = Agreement Value or Market Value x Stamp Duty Rate
Paying Stamp Duty and Registration Charges Online The government of West Bengal has made the payment of stamp duty and registration fees online to facilitate citizens. The citizens of West Bengal can use the WB Registration Portal to pay the stamp duty and registration charges.
Getting a Refund of Stamp Duty and Registration Charges Paid In case of a property deal not taking place, the buyer can apply for a refund of the stamp duty and registration charges paid. The application for a refund must be made within two years from the date of payment of stamp duty.
Factors Influencing Stamp Duty and Registration Charges West Bengal The factors influencing stamp duty and registration charges in West Bengal include the location, size of the property, and age of the property.
Things to Remember Before Payment of Stamp Duty in West Bengal Before making the payment of stamp duty in West Bengal, it is essential to keep in mind the following things:
All the assets of the property should be stamped before the property registration or on the next working day. If the parties sign the deed outside the territory then it should be stamped within 3 months.
Within 6 months from the date of the transaction, the stamp paper must be issued To pay stamp duty you can use adhesive stamps, which are removed later by the authority to avoid fraud.
The stamps should be issued in the name of both the buyer and seller. Stamp Duty and Registration Charges in West Bengal: Contact Details In case of any query or complaint regarding stamp duty West Bengal and registration charges you can contact on the following details:-
Office address: Fortuna Tower, 9th Floor, 23A N.S.Road, Kolkata-700001
Email address: igrcsr.igr-wb@nic.in, aigrg.igr-wb@nic.in
Final Words on Stamp Duty and Registration Charges in West Bengal 2022
Towards the end, the West Bengal stamp duty is the tax paid to the state government in the case of immovable property transfer from one person to another. The right or the liability on the property is not just limited to transfer but also on extension, extinguished, and recorded. The only case where the West Bengal stamp duty is not applicable is where the property transfer happens through Will.
Also, one can use the West Bengal stamp duty calculator and pay the stamp duty and registration charges in West Bengal 2021 online through the Directorate of Registration and Stamp Revenue website. In the case of the properties that are purchased by the government department, no West Bengal stamp duty has to be paid on them. Also, in case of grievance redressal related to West Bengal stamp duty and charges, the buyer can file a complaint on the WB registration website.
