STAMPS TO BE USED- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule 10(ii), MORTGAGE DEED, not being an agreement relating to Deposit of Title Deeds, Pawn or Pledge or Hypothecation (Article 6), Bottomry Bond (Article 14), Mortgage of a Crop (Article 41), Respondentia Bond (Article 53), or Security Bond or Mortgage Deed (Article 54)-. Now, with the passage of this bill, this one year set-off period has now been extended to three years. Works Contract, that is to say, a contract for works and labour or services involving transfer of property in goods (whether as goods or in some other form) in its execution and includes a sub contract,-. Of all the charges, stamp duty is the major component. 0.2%. 1. 100/-. (parseInt(navigator.appVersion) >= 3 )) || Explanation I--For the purposes of clause (1) of this Article, notwithstanding anything contained in any judgment, decree or order of any court or order of any authority, any letter, note, memorandum or writing relating to the deposit of title deeds whether written or made either before or at the time when or after the deposit of title deeds is effected, and whether it is in respect of the security for the first loan or any additional loan or loans taken subsequently, such letter, note, memorandum or writing shall, in the absence of any separate agreement or memorandum of agreement relating to deposit of such title deeds, be deemed to be an instrument evidencing an agreement relating to the deposit of title deeds. The two leading decisions on this definition are those of the Supreme Court in the case of. INSPECTORSHIP DEED, see Composition Deed (Article 24). CERTIFICATE OR OTHER DOCUMENT, evidencing the right or title of the holder thereof, or any other person either to any shares, scrip or stock in or of, any incorporated company or other body corporate, or to become proprietor of shares, scrip or stock in or of, any such company or body. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. 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. AWARD, that is to say, any decision in writing by an arbitrator or umpire, on a reference made otherwise than by an order of the Court in the course of a suit, being an award made as a result of a written agreement to submit, present or future differences to Arbitration but not being an award directing a partition--. B If the agreement claims to be for a period of more t ARTICLE 36A LEAVE AND LICENSE AGREEMENT. Stamp Duty to be paid on the market value of the shares and debentures. - For the purposes of this Article, the value of shares, scrip or stock includes the amount of premium, if any. In some states, a flat fee is also charges as property registration charge. LETTER OF ALLOTMENT OF SHARES in any company or proposed company, or in respect of any loan to be raised by any company or proposed company. However, once the market value of a property crosses over Rs.30 Lakh, the buyer is required to pay 1% of the market value as the . 9.13 Time limit for filing Application for refund of stamp duty : Date of execution of Agreement to Sale: Date of Registration :Cancellation of registered instrument described under Article 25 of schedule I. E-payment of stamp duty can be done through: Online payment into the Virtual Treasury through Government Revenue and Accounting System (GRAS) 12; or Electronic Secured Bank and Treasury Receipt (e-SBTR) issued by authorised banks 13. 4.90 for every Rs. 100. (2) For the purposes of this Order, the first instrument of transaction means, the first document executed between the project Proponent/s and the Purchaser (hereinafter referred to as the original purchaser) in respect of residential unit located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing For All (Urban) Project area (hereinafter referred to as the said area). Leave and license agreements must be stamped in Maharashtra, with a stamp tax cost of 0.25 percent of the entire rent for the duration. It is a tax paid to the government, similar to the income tax. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. Explanation- for the purpose of this clause, the principal or primary security shall mean, the security created under clause (a) or (b) above. (ii) If relating to the purchase of one or more units in any scheme or project by a person from a developer: Same duty as is leviable under clause (a), (b) or (c), as the case may be, of Article 25 on the market value of the unit. 1,00,00,000 or part thereof of the value of security, (b) if relating to purchase or sale of securities, other than those following under item (a) above,-, Re.0.20 for every Rs.10,000 or part thereof, (c) if relating to futures and options trading, (d) if relating to forward contracts of commodities traded through and association or otherwise. 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. The stamp duty on the lease agreements is applicable across all cities in Maharashtra. Both the Parties of the agreement are also situated in Maharashtra. A document which is not stamped, though required to be stamped or is a under stamped, is not by that reason, invalid as between the parties. 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. ; (ii) in sub-clause (iii), in column 2 , for the figure and words 3 per cent. the figure and words 4 per cent. Shall be substituted. if(MSFPhover) { MSFPnav3n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav3h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } As per Article 53 of Indian Stamp Act, 1899, RECEIPT for any money or other property the amount or value of which exceeds Rs. Follow these steps, to pay your stamp duty online: Step 1: Visit the Maharashtra Stamp Duty online payment portal. (2) Any such individual, institution, organization, company or a body responsible to furnish the information under sub-section (1) fails to furnish the same within the specified time, the Chief Controlling Revenue Authority or any other officer authorised by him in this behalf, direct such defaulter to pay by way of penalty, a sum not less than rupees five hundred but which may extend to rupees ten thousand for each failure.. The licensor is responsible for registering the leave and license agreement with the government; non-registration of a leave & license agreement also leaves the licensor responsible for a monetary fine or incarceration, in addition to the possibility of pushing the premises into litigation. 5,000 Plus renewal fee applicable under entry 3. The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 90 % of the market value of the property. The authenticity of the Stamp Certificate can be verified at Authorised Collection Centers (ACCs), SHCIL Offices and Sub-registrar Offices (SROs). LX of 1958), the Government of Maharashtra, having satisfied that it is necessary to do so in the public interest, hereby reduces, with effect from the 1st August, 1994, the maximum duty chargeable on Articles of Association of a Company under Article 10 of Schedule I of the said Act, to Rs. 9.2 Several instruments used in a single transaction: Development Agreement, Sale and new instrument (Lease) included along with mortgage or settlement. B. Duty can be paid by way of adhesive or impressed stamps or e-franking on the instruments and duly stamped documents are only admitted as evidence in court. LETTER OF GUARANTEE,SeeAgreement (Article 5). (a) Where the leave and license agreement purports to be for a term not exceeding 60 months with or without renewal clause. 2. e-Registration of Leave and License Agreement. In case of instruments which are based upon Market Value of the property which is the subject matter of an instrument, means the price which such property would have fetched if sold in open market on date of execution of such instrument or consideration stated in the instrument whichever is higher and needs to be paid in full and in time. [Title] So we have rented a flat in Mumbai, the owners include me, my mom and my sister. 1983). *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. Earlier, if the resale of such Immovable Property took place within one year of purchase, the stamp duty payable would only be on the difference of the property rates calculated in the purchase price and the resale price, and not on the entire consideration amount when the property is resold. 2. RELEASE, that is to say, any instrument (not being an instrument as is provided for by section 24) whereby a person renounces a claim upon other person or against any specified property,--. 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. 22-12-2011: As per new circular from IGR, the old agreement, which has expired 8 months period from the date of execution cannot be registered. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. Provided that in case of instrument executed by consortium of banks, the duty chargeable shall not exceed 50 lakhs. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. Registration Charges: Registration Charges in Tamil Nadu are 4 per cent of the guidance value, so will be Rs.2,00,000. It's worth noting that the stamp duty rate is the same for both residential and commercial properties for a period of up to 60 months. Mumbai. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. Ms.Usha Kapoor (CEO) 02 September 2016 Dear Client, As far as copy right is copncerned stamp duty is completely exempted according to Article 25 of Schedule 1 of Bombay stamp Act. 50. then value declared by these departments in notice is treated as final market value. (b) Where such leave and license agreement purports to be for a period exceeding 60 months with or without renewal clause; Same duty as is leviable on lease, under clause (ii), (iii) or (iv), as the case may be, of Article 36. If u like my solution then give THANKS on my profile. W.e.f. // -->