In cases of Bonds, Release, Settlement, it is to be paid by the person making or drawing the instrument. Stamp duty is ten per cent rupee (0.1%) on the market value corresponding to the amount of the consideration. * The amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. The eSBTR is a receipt of duty paid to the government. (aa) Additional Controller of Stamps, Mumbai means the officer or officers so designated by the State Government and includes any other officer whom the State Government may, by notification in the Official Gazette, appoint in this behalf ; . (a) if the amount agreed does not exceed Rs. Explanation.-- For the purposes of this clause, the term 'debenture' includes debenture stock; (b) of any interest secured by bond, mortgage deed or policy of insurance; (c) of any property under section 22 of the Administrators' General Act, 1963; (d) of any trust property without consideration from one trustee to another trustee, or from a trustee to a beneficiary. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. (a) when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents; (b) when required in suits or proceedings under the Presidency Small Cause Courts Act, 1882, (XV of 1882). (2) Letter of hypothecation accompanying a bill of exchange. B. Select the option based on your requirement, such as "Sales Deed" and "Agreement to sale". (5) No refund shall be granted where stamp duty has already been paid by any project proponent or the Purchaser of any unit prior to the date of publication of this Order in the Maharashtra Government Gazette. Our current leave and license agreement period is coming to an end in April start and inorder to sign a new agreement we all 3 need to be here but my sister is flying to another country for a few months in march so we decided on making a new agreement and signing and registering it with stamp duty in march . 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. Provided also that where proper stamp duty is paid on a registered agreement to sell an immovable property, treating it as a deemed conveyance and subsequently a conveyance deed is executed without any modification then such a conveyance shall be treated as other instrument under section 4 and the duty of Rs. For license agreemnt there is stamp duty & registration charges it is calculated as Total rent+ Deposit X 0.025. 100/- need to be paid as stamp Duty for Gujarat Property Registration. While Buying a Non-Judicial Stamp Paper you need to provide the following details: Names of parties to the agreement (First party, second party, etc. (ii) an amount equal to 0.7 %, of the aggregate of the market value of the shares issued or allotted in exchange or otherwise and the amount of consideration paid, for such amalgamation, whichever is higher: Provided further that, in case of reconstruction or demerger the duty chargeable shall not exceed, -, (i) an amount equal to 5 % of the true market value of the immovable property located within the State of Maharashtra transferred by the Demerging Company to the Resulting company; or. The law on stamping and registration. 10. (a) in sub-section (1),- (i) after the word sale, the word lease, shall be inserted ; (ii) after the words development agreement, where it occurs for the second time, the word lease, shall be inserted ; (b) in the marginal note, after the word sale, the word lease, shall be inserted. See also Settlement (Article 55). Explanation I. Check all needed legal documents, Payments, Charges, Property Registration, Rates & its Calculation procedure. 9.3 E-payment through Government Receipt Accounting System (GRAS): Virtual Treasury, Insection 10of the principal Act, after sub-section (3), the following sub-section shall be inserted, namely :, (3A) The procedure to regulate the use of e-payment, through Government Receipt Accounting System (G.R.A.S.) STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11]. The same duty as is payable under clauses (a) and (b). The same duty as is leviable on Conveyance under clause (a), (b) or (c), as the case may be, of article 25 on 50 % of the market value of the property. 10,00,000. Factoring Agreement. The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of Article 25, on the market value of the property which is the subject matter of the gift. Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. (iv) for a period exceeding 29 years , or in perpetuity, or does not purport for any definite period, or for lease for a period exceeding 29 years, with a renewal clause contingent or otherwise. (1) The deposit of title deeds or instrument constituting or being evidence of the title to any property whatever (other than a marketable security), where such deposit has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt; (a) if the amount secured by such deed does not exceed Rs. The Stamp Duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on transaction of Sale, Mortgage and Gift Deed will attract a 1% metro cess from 1st April,2022 over and above the Stamp Duty rate. In some states, a flat fee is also charges as property registration charge. if(MSFPhover) { MSFPnav3n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav3h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } Such impounded instruments must be sent to the Collector who would then determine the amount of duty and penalty, if any, payable on the same. then value declared by these departments in notice is treated as final market value. Cancellation of adhesive stamps 17 13. In India there are 29 States and Stamp Duty varies in each State for ex: The Stamp Duty for Rent Agreement in Delhi is Rs. --For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person. The Maharashtra Legislative Assembly have passed a Bill which inter alia extends the set-off period for payment of stamp duty on resale of Immovable Property purchased from developer/ promoter as investment from one year to three years. The instruments or the documents have to be read as they are i.e. Stamp Duty to be paid on the market value of the shares and debentures. 2. 1094/2229/CR-450-MI, dated 2nd August, 1994 - In exercise of the powers conferred by clause (a) of section 9 of the Bombay Stamp Act, 1958 (Bom. Mumbai. for Art. For the purpose of this article, the market value, for the instruments falling under section 2 (n) (iii) (Toll Agreements) and article 5 (g-e) (Hire Purchase agreement), shall be the total contract value and they shall be chargeable to duty same as under clause (a) of article 25. . Explanation I.-For the purposes of this article, where in the case of agreement to sell an immovable property, the possession of any immovable property is transferred or agreed to be transferred to the purchaser before the execution, or at the time of execution, or after the execution of, such agreement [* * *] then such agreement to sell shall be deemed to be a conveyance and stamp duty thereon shall be leviable accordingly: Provided that, the provisions of Section 32A shall applymutatis mutandisto such agreement which is deemed to be a conveyance as aforesaid, as they apply to a conveyance under that section: Provided further that, where subsequently a conveyance is executed in pursuance of such agreement of sale, the stamp duty, if any, already paid and recovered on the agreement of sale which is deemed to be a conveyance, shall be adjusted towards the total duty leviable on the conveyance. After six months it is mere a piece of paper. Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. ; by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person. } Only authorised vendors can sell the stamps. 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. Stamp duty is payable as per the provisions of Section 3 of the Indian Stamp Act, 1899. In Mumbai, three per cent of prevailing ready reckoner rates has to be paid as stamp duty on gift deeds. The concession is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Pimpri Chinchwad. if(MSFPhover) { MSFPnav4n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav4h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } In Case Duty Exceeding Re. And every order made by the Board for Industrial and Financial Reconstruction under section 18 or 19 of the Sick Industrial Companies (Special Provisions) Act, 1985, in respect of sanction of Scheme specified therein or every order made by the National Company Law Tribunal under section 31 of the Insolvency and Bankruptcy Code, 2016, in respect of approval of resolution plan. Stamp duty on foreign currency loan agreements is generally capped at RM2,000. Forsection 68of the principal Act, the following section shall be substituted, namely : 68. or by any other system of payment as may be notified by the state government in this behalf, in respect of such instruments, as may be specified in the notification passing through their system or related to their functioning of which registration is not compulsory. The Penalty on the instruments mentioned in the Appendix is reduced to ten per cent of total penalty on the deficient portion of the duty. If you want to do it yourself, the fee is INR 1,000 if your property is under the jurisdiction of the Municipal Corporation, and INR 500 if your property is . 0.2%. 100/- shall be charged. 1. 2. Stamp duty refers to a tax on a transaction which is paid to the government and the tax is levied on the instrument recording the transaction. STAMPS TO BE USED -- Non-Judicial Stamp Paper (NJ) under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. Aftersection 68of the principal Act, the following section shall be inserted, namely : 68A. The acceptance of on-line payment of Maharashtra State's Taxes through the internet portals of various banks have been developed, without having any implication on the existing procedure of the executive and accounting agencies of the Department. Usc of adhesive stamps. Stamp Paper: The rent agreement must be executed on non-judicial stamp paper of the correct value as per the applicable stamp duty laws. 2. In the absence of any such agreement, the Act provides that in the case of a Conveyance, duty is to be paid by a buyer and by the lessee in case of a lease. For Land, Flat, Shop, Office and Industrial Unit etc. The same duty as is leviable on a Conveyance under clauses (b) or (c), as the case may be, of Article 25, on the market value of the property. Patents The Patents Act does not contain any restrictions on the assignment of a licence. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. (2) having area more than 27.88 squares meters (300 square feet). Exemptions Affidavit or declaration in writing when made --. (ii) within the limits of any Municipal Council or Nagar Panchayat or Cantonment area annexed to it, or any rural area within the limits of the Mumbai Metropolitan Region Development Authority, or the Influence Areas as per the annual statement of rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995. ], A. Stamp duty is payable at rates mentioned in Schedule - I of The Maharashtra Stamp Act. GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59). 1-5-1994, the date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. According to a FPJ report, in Mumbai, revenue expected through metro cess for 2022-23 is Rs 1000 crore. Insection 32Bof the principal Act, (i) in sub-section (1), after the words file an appeal against such order, to the the words Additional Controller of Stamps, Mumbai in respect of the property, which is the subject matter of the instrument, is situated in Mumbai City and Mumbai Suburban Districts and in respect of the properties situated in the other parts to the shall be inserted; (ii) in sub-section (2), after the words against the order of the the words Additional Controller of Stamps, Mumbai or the shall be inserted. (4) The project proponent or the Purchaser of any unit which availed the reduction under this Order shall not be entitled for concession or remission of stamp duty as per any other order or policy. As per Article 5(h)(B) of Schedule I of the Act, read with Section 4 of the Act and as per the latest judgement of Bombay High Court on writ petition of Prabha Laxman Ghate and PIL of Chandrakant Nanekar, the stamp duty on free flats/ galas given to owner of the land by the developer is chargeable with Rs. e-Registration of Leave and License Agreement. Rs 100. 0.2% on share capital or increased share capital ,as the case may be subject to a maximum of Rs. 2.2 The stamp papers must be in the name of one of the parties to the transaction. Even instruments executed outside the State are liable to duty within 3 months on their receipt in the State, provided it relates to a property situated in the State or a matter or thing to be done in the state. Some states offer reduced stamp duty charges for female homebuyers. . Under Section 34 of the Act, any instrument which is inadequately/not stamped, then it shall be inadmissible in evidence for any purpose, e.g., in a Civil Court. 17 12. 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