In the matter some more clarification is required.
As general practice any lease agreement of less than one year (usually 11 months) is being made on a stamp paper of Rs. 100/- as the same is not compulsorily required to be registered as per Registration Act 1908, any agreement for a period of more that one year require compulsory registration (Sec 17).
As per item no. 35 and 15 of Schedule 1A for Delhi the stamp duty required for any Lease Agreement is 2% of the lease rental,
my query is that as per Item No. 35 (i) of Sh. 1A where the lease purports to be for a term of less that 1 year "the stamp duty charged shall be 2% of whole amount payable under such lease, dose not this means that the stamp duty for period less than 1 year also should be based on value of lease and not on Rs. 100/- stamp paper.
Also, please clarify that it is whose responsibility to get the lease registered, who will face penal provisions in case a lease of 2 years in not registered.
Dear friends please clarify.