Stamp duty is a legal fee imposed by the government on certain documents, including agreements. Stamp duty is a type of tax payable on documents which legally bind parties to an agreement. In India, the Stamp Duty Act governs the calculation and collection of stamp duty across different states.

When it comes to agreement for stamp duty, the rate of stamp duty varies depending on the state in which the agreement is executed. According to the Indian Stamp Act, every state has the power to amend the rate of stamp duty for different types of agreements, and this rate is usually a percentage of the agreement value or property value.

For instance, in Maharashtra, the stamp duty for an agreement between a buyer and seller of immovable property is 5% of the market value or agreement value, whichever is higher. In Karnataka, it is 0.1% of the agreement value for lease agreements, 0.5% of the market value for sale agreements, and 1% for loan agreements. In Delhi, the stamp duty fee for rental agreements is 2% of the annual rent, whereas, for sales agreements, it is 6% of the market value.

It is important to note that stamp duty is a legal obligation and failure to pay it can lead to legal issues. Moreover, the agreement will not be considered legally valid until it is stamped. The stamp duty is usually paid by the parties involved in the agreement, but the responsibility of payment may differ based on negotiation.

To pay stamp duty, parties need to approach the sub-register office or authorized agents. The office will calculate the amount of stamp duty that needs to be paid. Once the stamp duty is paid, the agreement is stamped, and the parties involved can proceed with their legal obligations.

In conclusion, stamp duty is a legal fee that needs to be paid on certain documents, including agreements. The rate of stamp duty varies depending on the state where the agreement is executed. It is important to pay stamp duty to avoid any legal issues and to ensure that the agreement is legally valid.