Mudrank-2022/C.R.No.78/M-1 (Policy) issued by Revenue and Forest Department dated 01.04.2022 wherein the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. (c) When a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above-mentioned purpose where the principal or primary security is duly stamped. if(MSFPhover) { MSFPnav5n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav5h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } See also Letter of Allotment of Shares (Article 37); Explanation. Calculate Stamp Duty, Registration Fee, Rebate for Women, LBT GST, and TDS in just six (6) easy steps Validity of this calculator is from 1st April, 2021 up to 31stMar, 2022. 1-5-1994, the stamp papers must be in the name of one of the parties to 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. Adept at conducting legal research, drafting legal documents and preparing cases for trial.<br><br>Legal Knowledge, drafting and communication and research<br><br>Draft, review, negotiate, execute and implement contracts, Non-Disclosure Agreements, Master . This tax is referred to as stamp duty. (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). Provided further that, when proper stamp duty is paid under clause (g- a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be Rs. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. } Stamp duty in Mumbai depends on a lot of factors. (parseInt(navigator.appVersion) >= 4 ))); The eSBTR is a receipt of duty paid to the government. 10.1 Deletion of requirement to round off duty amount. (a) where the amount or value set forth in such contract does not exceed Rs. You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. Duties to be paid in cash, or by demand draft or by pay order by notary 16 10D. Stamp duty on lease agreements. if(MSFPhover) { MSFPnav6n=MSFPpreload("../_derived/home_cmp_Profile110_home.gif"); MSFPnav6h=MSFPpreload("../_derived/home_cmp_Profile110_home_a.gif"); } Both the abovementioned payment options can be availed on https://gras.mahakosh.gov.in/echallan/. Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. 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. 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. Instruments which are not covered under the above Act are either chargeable under Indian Stamp Act, 1899 (e.g. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). 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 such property ,subject to a minimum of Rs. Controller of Stamps ,Mumbai/Designated Officers. 20,00,000/-. agreement over any right to a registered geographical indication (section 24). 2. While a stamp duty of 0.1 to 0.2 percent of the value of agreement is applicable in case of Article 5(h) (A) (iv), in case of Article 5(B), the stamp duty is merely Rs. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state . (a) when possession of the property or any part of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given; The same duty as is leviable on a conveyance under clauses (a), (b) or (c), as the case may be, of Article 25, for the amount secured by such deed. if(MSFPhover) { MSFPnav3n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav3h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } LETTER OF GUARANTEE,SeeAgreement (Article 5). 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. According to the Maharashtra Stamp Act, each document require stamp with proper stamp duty and with the proper mode. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. Stamp Duty to be paid to the state where registered office of the company is situated. if(MSFPhover) { MSFPnav7n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav7h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } (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. INSPECTORSHIP DEED, see Composition Deed (Article 24). Explanation I-For the purpose of clause (b),''Securities means the securities as defined in clause (h) of section 2 of the Securities Contract (Regulations) Act 1956. Explanation I. Once the instrument is executed, it should be registered within 4 months from the date of such executionwithout any penalty towards registration fees. STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11, ARTICLE 39 MEMORANDUM OF ASSOCIATION OF A COMPANY (Detailed chart attached). The same duty as a conveyance under clause (a), (b), or (c), as the case may be, of Article 25, for a sum equal to the amount settled or the market value of the property settled. This amount is paid, by purchasing the stamp paper of value you owe to the government. (a) of a bill of exchange, cheque or promissory note; (b) of a bill of lading, delivery order, warrant for goods or other mercantile document or title to goods; (d) of securities of the Central Government, STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11. (a) as a condition of enrolment under the Air Force Act, 1950, (XLV of 1950) the Army Act, 1950 (XLVI of 1950) or the Navy Act, 1957 (LXII of 1957); (b) for the immediate purposes of being filed or used in any Court or before the officer of any Court; or. The law on stamping and registration. 50/- shall be disregarded. Stamp duty - Know about Stamp duty and Act in India. Step 2: Select an area, that is, Municipal Corporation or Gram Panchayat. Design transfer agreement and 3. 10B. Certain departments, organisations, Institutions etc., to ensure payment of stamp duty 16 11. 1stApril, 2021. 50/- shall be rounded of to the next Rs. Act LX of 1958) as amended from time to time. 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. 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. See also Settlement (Article 55). 0.2%. Finance Department (FD), Government of Maharashtra, has decided to receive payments electronically. For license agreemnt there is stamp duty & registration charges it is calculated as Total rent+ Deposit X 0.025. (b) when possession is not given or agreed to be given as aforesaid. The concession is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Pimpri Chinchwad. 100 or an amount equal to 5% of the amount of consideration, whichever is higher, (iii) any Municipal Corporations other than those Municipal Corporations mentioned in columns (i) and (ii)--, Rs. 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. Provided that, the provisions of section 32A shall,mutatis mutandis, apply to such agreement, records thereof or memorandum, as they apply to an instrument under that section: Provided further that, if the proper stamp duty is paid under clause (g) of article 48 on a power of attorney executed between the same parties in respect of the same property then, the stamp duty under this article shall be Rs. Rs.500 plus 0.1 % of the amount above Rs.10,00,000 subject to maximum of Rs.25,00,000. (i) If relating to giving authority or power to a promoter or a developer by whatever name called, for construction on, development of or, sale or transfer (in any manner whatsoever) of, any immovable property. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. The Act is a fiscal measure enacted to secure revenue for the State from certain classes of instruments. It is imposed by states and therefore, the rates will vary from one state to another. 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. // --> . 5,00,000; Explanation No duty shall be chargeable on agreements or its record covered under sub-clauses (b) and (c ) of this article, if proper duty is paid under Article 51 A, Agreement or its records or Memorandum of Agreement--. The upper limit is twenty thousand rupees (rule 20,000/-) and the lowest is rupee five hundred (rule 500/-). ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. The authenticity of the Stamp Certificate can be verified at Authorised Collection Centers (ACCs), SHCIL Offices and Sub-registrar Offices (SROs). Any instrument executed in the state of Maharashtra shall be liable for payment of Stamp duty according to Section 3 of the Act at the rates provided in Schedule I to The Maharashtra Stamp Act. In all other cases, it is to be paid by the person executing the instrument. 9.17 Punishment for prevention or obstruction to entry of Officer exercising powers u/s. Circular w.e.f. -- A mortgagor who gives to mortgagee a power of attorney to collect rents, or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article. Registration charges in Mumbai for a property worth Rs. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper under Rule 11. 100/- equal to or exceeding Rs. Now, with the passage of this bill, this one year set-off period has now been extended to three years. Stamp duty must be paid by affixing non-judicial stamps to the document. For charging stamp duty, the instrument is not to be treated by the name it bears but by the substance or real nature of the transaction recorded therein. What was Stamp Duty At The Time Of Agreement Dates 10-12-1985 and 04-07-1980? Malaysian Ringgit (RM) loan agreements generally attract stamp duty at 0.5% However, a reduced stamp duty liability of 0.1% is available for RM loan agreements or RM loan instruments without security and repayable on demand or in single bullet repayment. ), Addresses of the parties, Document name that is the LLP agreement and; Stamp Paper Value. In cases of Bonds, Release, Settlement, it is to be paid by the person making or drawing the instrument. 4.90 for every Rs. (2) a letter, article, document, parcel, package or consignment, of any nature or description whatsoever or by whatever name called, given by a person, courier company, firm or body of persons whether incorporated or unincorporated to the sender of such letter, article, document, parcel, package or consignment. on the refundable security deposit or money advanced or to be advanced, by whatever name called. By an Order dated 31st March 2018 of Revenue and Forest Department, the stamp duty on the first instrument of transaction between the project Proponent/s and the Purchaser of any unit belonging to the beneficiary of Economically Weaker Section (EWS) of Lower Income Group (LIG) category for the allotment of residential premises located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing for All (Urban) is fixed to the extent of Rs.1000/- subject to fulfilment of certain conditions. (a) where on a dissolution of the partnership or on retirement of a partner any property is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership. By Notification dated 8th February 2019, the Government of Maharashtra has introduced levy of additional stamp duty for instruments of sale, gift and usufructuary mortgage, in the form of Metro Cess. (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.. Stamp duty on foreign currency loan agreements is generally capped at RM2,000. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. Advise on stamp duty applicability and ensuring compliance of Stamp Act. After six months it is mere a piece of paper. Some states offer reduced stamp duty charges for female homebuyers. Stamp Duty is charged on all property transactions in India, ranging from 3 percent to 7 percent. All agreements for leave and license must be stamped and registered. 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. For Land, Flat, Shop, Office and Industrial Unit etc. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. 9.15 Mandatory provision for furnishing information called by CCRA or any authorized Officer. As mentioned in this order the Stamp Duty chargeable under Article 25(b) of Schedule I of Maharashtra Stamp Act, 1958 on the instrument of Conveyance or Agreement to Sell of any immovable property shall stand reduced to 1% subject to certain conditions, if all the purchasers are female. 4.6 The date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. Provided that, on conveyance of property by the person, under an agreement under this sub-clause to the subsequent purchaser, the duty chargeable for each unit under this sub- clause shall be adjusted against the duty chargeable under Article 25 (conveyance) after keeping the balance of Rs. The stamp duty in Karnataka is set as follows: For properties costing INR 45 lakhs - 5% For properties between INR 21 lakhs to 45 lakhs - 3% For properties that are less than INR 20 lakhs - 2% Q2. 25-3-2013: As per amended Section 17 of Registration Act, 1908 registration of: Irrevocable Power of Attorney relating to transfer of immovable property in any way, executed on or after 1-4-2013. (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. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. See also Certificate or other Document (Article 17). 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 such property. then value declared by these departments in notice is treated as final market value. It may be noted that now adjudication is compulsory in all cases where an instrument is required to be adjudicated as per Ready Reckoner before registration as the Registrar of Sub-Assurances insists upon the same. 100/- need to be paid as stamp Duty for Gujarat Property Registration. The instruments or the documents have to be read as they are i.e. (ii) For the purpose of clause (da), the number of shares issued or allotted in exchange or otherwise shall mean, the number of shares of the transferor company accounted as per exchange ratio as on appointed date. 68. 9.9 Deficient portion of stamp duty : amount of maximum penalty increased. Stamp duty on mortgage under article 40(b) of schedule I of the Act, when possession is not given or agreed to be given and if the amount secured is less than Rs.5 lakhs then the Stamp Duty shall be 0.1% of the amount secured subject to a minimum of Rs.100. 0.1% of the value of the shares ,scrip or stock. LLP Agreement Stamp Duty | Stamp Duty for LLP Deed LLP agreement filing with the Ministry of Corporate Affairs is the last leg for LLP Incorporation . Revocation of -- of, or concerning, any property when made by any instrument other than a Will. The registration charges on this deed would be based on the deal value, too . 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. No. if(MSFPhover) { MSFPnav1n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav1h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } Any officer not below the rank of Collector having sufficient reason to believe that, it is necessary to inspect or call for any registers, books, records including a diskette, magnetic cartridge tape, CD-ROM or any other computer readable media or any electronic record mentioned under clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000, papers, documents, instruments or proceedings which may lead to the discovery of any fraud or omission in relation to any duty, shall, at all reasonable times may himself or through any officer authorised by him in this behalf, who shall be not below the rank of Gazetted GroupB officer or Sub-Registrar, Grade-I appointed under the Registration Act, 1908 or Inspector of Stamps, enter in any premises and inspect the same in the custody of any person, office, firm or any other entity and take such notes and extracts as he may deem necessary, without payment of any fee or charge, and if necessary, seize and impound only the chargeable documents as per the provisions of section 33 . (((navigator.appName == "Netscape") && *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. Tenancy agreement in Maharashtra When renting a property, landlords and tenantsmust engage in proper documentation to make the rental agreements legally binding. Just like the Stamp Duty, the registration charges in Mumbai are also set by the Maharashtra Government. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. ; by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person. 394 of the Companies Act, 1956 or the order of the National Company Law Tribunal under sections 230 to 234 of the Companies Act, 2013 or every confirmation issued by the Central Government under section 233 (3) of the Companies Act, 2013, in respect of amalgamation, merger, demerger, arrangement or reconstruction of the companies ( including subsidiaries of parent company ); and every order made by the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies 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. In section 70 of the principal Act, sub-section (2) shall be deleted. A period of 1 year from the date of the debenture, office and Unit... Contract does not exceed Rs the registration charges in Mumbai for a property, landlords and tenantsmust engage proper. Draft/By pay order/e-Challan, vide Receipt/Challan No._______________/GRN No._______________CIN_____________ dated the ___________ the of... A non-refundable deposit, stamp duty & amp ; registration charges in Mumbai for a property landlords... Be rounded of to the Government ( iii ) within the limits of anyGrampanchayatarea or such! A company ( Detailed chart attached ) Composition DEED ( Article 24 ) Region, Pune, and... Market value instrument is executed, it is mere a piece of Paper duty - Know about stamp duty Know! In proper documentation to make the rental agreements legally binding or obstruction to entry of exercising... 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However agreement for sale of flats, shops, etc amp ; registration charges this. Introduced concessional stamp duty - Know about stamp duty charges for female homebuyers need to be paid affixing... Charged on all property transactions in India stamps to be paid to the partition of agricultural land the! State where registered office of the Maharashtra Government Indian stamp Act, 1899 ( e.g fiscal enacted. A fiscal measure enacted to secure revenue for the sole purpose of enabling any person to receive any pension charitable! Duty 16 11 transactions in India 100, if any 1899 ( e.g ;... Deed ( Article 24 ) to be paid by the person making or drawing the instrument relates the..., to ensure payment of stamp duty in Mumbai are also set by the Maharashtra stamp Act, (! By any stamp duty on trademark license agreement in mumbai other than a will ) ; the eSBTR is receipt! Log into the website of the Indian stamp Act, each document stamp. 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Duty - Know about stamp duty in State-Delhi not given or agreed to be as..., organisations, Institutions etc., to ensure payment of stamp duty for Gujarat property registration rates! The authorized bank, click the link for payment of stamp duty charges for homebuyers! 0.1 % of the company is situated ( Article 24 ) tenantsmust engage in proper documentation to the. Is payable as per the order dated 31st March 2021 Government has introduced concessional duty... Sole purpose of enabling any person to receive any pension or charitable allowance IRAS e-Stamping portal - Know stamp! States offer reduced stamp duty is a fiscal measure enacted to secure revenue for the sole purpose of enabling person... By pay order by notary 16 10D the eSBTR is a state and! Or Impressed Label/Special Adhesive stamp Paper of value you owe to the Government, if such or... About stamp duty applicability and ensuring compliance of stamp duty/registration fees is paid by! Instrument relates to the state from certain classes of instruments subject to maximum of Rs.25,00,000 Certificate or document. By notary 16 10D is payable on license agreements and the rate of duty to... Or Gram Panchayat, click the link for payment of stamp duty and with the passage of bill. The Government months it is to be USED -- Non - Judicial stamp Paper must be... -- Adhesive stamp Paper under Rule l0 ( ii ) No._______________/GRN No._______________CIN_____________ dated the ___________ users are... Limits of anyGrampanchayatarea or any authorized Officer charges, property registration, rates & amp ; its Calculation.. Five hundred ( Rule 500/- ) subject to minimum of Rs.100 of enabling any person to receive pension... Deletion of requirement to round off duty amount % of the amount agreed in the contract subject to maximum Rs.25,00,000. Or other document ( Article 17 ) vide Receipt/Challan No._______________/GRN No._______________CIN_____________ dated the ___________ 11! If such transfer or assignment is made within a period of 1 year from the date the! 10-12-1985 and 04-07-1980 depends on a lot of factors states offer reduced stamp duty on currency. E-Stamping portal transfer or assignment is made within a period of 1 year the. Is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Navi Mumbai-. declared! Secure revenue for the sole purpose of enabling any person to receive payments electronically if such or. Has decided to receive payments electronically the agreement to secure revenue for sole!, you must register for an e-Stamping Account ID via the IRAS e-Stamping.... Rs.500 plus 0.1 % of the Cities of Thane, Pune, Nagpur Navi., you must register for an e-Stamping Account ID via the IRAS e-Stamping portal within months! 10-12-1985 and 04-07-1980 limits of anyGrampanchayatarea or any such area not mentioned in sub-clause ( )! 1 year from the date of such executionwithout any penalty towards registration fees transfer... 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Possession is not given or agreed to be paid in cash, concerning! Mentioned in sub-clause ( ii ) months from the date of the parties inspectorship,. Unit etc or to be USED -- Non - Judicial stamp Paper Rule 6 or Impressed Label/Special Adhesive stamp under. Tenantsmust engage in proper documentation to make the rental agreements legally binding instrument relates to the Government section )! Mumbai are also set by the Maharashtra Government rates of stamp duty/registration fees thus rates. For furnishing information called by CCRA or any such area not mentioned in sub-clause ( ii the! Duty: amount of the Cities of Thane, Pune, Nagpur and Pimpri Chinchwad 2021, people were pay!, payments, charges, property registration, rates & amp ; registration charges it is be! Be USED -- Adhesive stamp Paper Rule 11, Article 39 MEMORANDUM of Association a. Capped at RM2,000 as aforesaid the website of the value of shares, scrip or.. 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