Section 4 in West Bengal Stamp (Prevention of Undervaluation of Instruments) Rules, 2001
4. Reference to be made to the Collector for determination of market value of property.
(1)If the person by whom the stamp duty is payable under section 29 does not within the period specified in the notice referred to in sub-rule (8) of rule 3, offer to pay the deficit amount of stamp duty to make up the amount with which the instrument referred to in sub-rule(2)of rule 3, would, in the opinion of the registering officer, have been chargeable, the registering officer shall make a reference under sub-section(3)of section 47A to the Collector for determination of the market value of the property which is the subject-matter of such instrument, and the proper amount of duty payable thereon, and the registering officer shall record the particulars of such reference in a register as maintained in Form VI.(2)The registering officer shall, while making a reference under sub-rule (1), furnish to the Collector one copy of the statement in Form I, Form II, Form III or Form IV, as the case may be, together with the order referred to in sub-rule (8) of rule 3, and the extracts of report or record on the basis of which order referred to in sub-rule (8) of rule 3 has been made.(3)If the person, by whom stamp duty is payable under section 29 before receipt of any communication from the Collector intimating to him the market value of the property which is the subject-matter of the instrument referred to in sub-rule (2) of rule 3, and the proper stamp duty payable thereon as determined by the Collector, makes payment of the deficit amount of stamp duty as ascertained by the registering officer in the same manner as referred to in sub-rule (9) of rule 3, such registering officer shall accept such payment and register the instrument. The reference made under sub-rule (1) of rule 4 in respect of such instrument, shall be deemed to have been withdrawn. The registering officer shall intimate such registration to the Collector in Form VIIA.(4)The provision of sub-rule (3) shall apply, mutatis mutandis, in respect of any instrument referred to in sub-section (4) of section 47A:Provided that the registering officer of such instrument shall intimate the withdrawal of reference under sub-rule (3) of rule 4 in Form VIIB.[Proviso further that the provisions of this rule shall not apply in case the instruments are registered through the system of CORD software.] [Second proviso added by Clause (3) of the Notification No. 1614-F.T., dated 5.10.2010, w.e.f. 5.10.2010.]
