Thursday, September 25, 2014

Document Registration and its Delay

Document presented for Registration and its DELAY

Every document, presented for registration, shall bear its ‘date of execution.’
The date of execution of a document is the date on which it is signed by the party; 
Generally, the date which a document bears at its head is a date of its execution.
The date on which ‘a Certificate of Sale’ by a Civil Court was signed by the Court shall be taken as the date of its execution (for the purpose of its registration).
An ALTERATION in the date of execution of a document, made ostensibly for the purpose of evading payment of the penalty leviable, shall not be recognized.

Time for presentation of a document for its registration:
Every document (non-testamentary document) shall be presented for registration within FOUR MONTHS from the date of its execution. (except Will, which is a testamentary document). –sec.23 of The Registration Act 1908.

Fines for delays in presentation of document for registration:
1.       If the delay does not exceed one week = 25% of the Registration fee as fine.
2.       If the delay exceeds one week but does not exceed one month = 50% of the Registration Fee as fine.
3.       If the delay exceeds one month but does not exceeds two months = 75% of the Registration fee as fine.
4.       If the delay exceeds two months but does not exceed four months = 100% of the Registration fee as fine.



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