Stamp Act, S. 2(10) – A conveyance to be a sale involves intention of the parties to transfer the property for a consideration – The stamp duty becomes payable on the value of the property subject matter of sale in the manner prescribed in Schedule 1 of the Indian Stamp Act, whereas the term “release” relates to renouncing ones interest, share or claim in favour of another particularly amongst the relations and coparceners – Relinquishment is defined as a release at Sr. No. 55 of Schedule 1 to the Indian Stamp Act, whereas the sale deed is part of the conveyance at Sr. No. 23 of the Indian Stamp Act. Section 2(10) of the Indian Stamp Act
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