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Stamp duty is a tax levied by the Indian government on various financial and legal transactions. The tax is levied to record and preserve evidence of the transaction, and it serves as a form of revenue generation for the government. In India, the rate of stamp duty varies depending on the nature of the transaction and the state in which it is executed. What is Stamp Duty? Stamp duty is a tax that is imposed by the government on specific transactions and legal documents. The purpose of this tax is to raise revenue for the government, and it is usually used to finance public services and infrastructure. The types of transactions and documents that are subject to stamp duty vary from country to country. For example, in the United Kingdom, stamp duty is payable on the purchase of a property, while in Australia, it is levied on the transfer of property and the issuance of shares. Also Read - what is the different between Stamp duty vs Home loan . When is Stamp Duty Payable? Stamp duty is ...