100/-. Recently Maharashtra Government has allowed online registration of first sale agreement of developers approved by the Stamp duty and Registration Authorities. (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. 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. 100. In Mumbai, three per cent of prevailing ready reckoner rates has to be paid as stamp duty on gift deeds. 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. 4.6 The date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. 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. Stamp Duty Rates for Leave & Licence Agreement Calculate NOTE: Calculation is for a period of 12 months, irrespective of period of leave & licence, and includes any advance rent paid or to be paid and further includes any deposit made or to be made, with or without any interest. See Kelson Cos., Inc. v. Feingold, 309 S.E.2d 394, 396 (Ga.Ct.App. Further it has to be paid on time to avoid penalty. Signature of the Officer. Stamp duty is a duty payable upon the execution of certain instruments or documents specified in the Indian Stamp Act, 1899 ("IS Act") or the relevant state Stamp Act as the case maybe. Steps for Section 8 Company Registration in Mumbai. A leave and licence agreement is a contract between a licensor and licensee that allows the latter to occupy the former's property for a certain period. for Art. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state . On a brighter note, the 1% stamp duty waiver . 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. 2.2 The stamp papers must be in the name of one of the parties to the transaction. The term "Instrument" has been defined to include every document by which any right or liability is or purports to be created, transferred, limited, extended, extinguished or recorded. 1 Revenue stamp. Tenancy agreement in Maharashtra When renting a property, landlords and tenantsmust engage in proper documentation to make the rental agreements legally binding. e.B. 100+50=150 And just to be sure that something is not left out. SURRENDER OF LEASE including an agreement for surrender of lease--. 1. Now, with the passage of this bill, this one year set-off period has now been extended to three years. 5,00,000; 0.1% of the amount secured by such deed subject to the minimum of Rs. 25,00,000. Insection 39of the principal Act, in sub-section (1), in sub-clause (b), in the first proviso, for the word double the words four times shall be substituted. 4. (c) for the sole purpose of enabling any person to receive any pension or charitable allowance. Explanation II-For the purposes of this Article ,any new instrument executed for additional loan or extension of previous loan shall be treated as a fresh instrument and chargeable with the duty to the extent of additional amount being secured or disbursed or sanctioned. (a) in Article 25, in clause (b),- (i) in sub-clause (ii), in column 2 , for the figure and words 4 per cent. the figure and words 5 per cent. Shall be substituted. What is Stamp Duty? The Explanation to the definition provides that any instrument by which one co-owner transfers his property to another co-owner would be deemed to be a conveyance provided that it is not an instrument of partition. (iii) for a period exceeding 10 years but not exceeding 29 years, with a renewal clause contingent or otherwise. However, the heading Other Stamp Duty covers electronic share trading (CREST), Stamp Duty on financial cards and Stamp Duty levies. If the stamp duty is on ad valorem basis then the amount varies on the basis of value of the products, services or property on which it is levied. Stamp Duty Maximun Stamp Duty Registration Fee ( % or fix duty) Minimum Registration Fee Maximun Registratio n Fee 48 Conveyance in compliance tothe Agreement sale (without possession) Compulsory 5 % 3%1 % 10 % of Principal Stamp Duty 1000 Rs - 49 Conveyance incorporating names of daughter in law Compulsory 1 % -10 % of Principal Stamp Duty 0.8 . ; (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. --Where under clause (f), duty has been paid on the power of attorney, and a conveyance relating to that property is executed in pursuance of power of attorney between the executant of the power of attorney and the person in whose favour it is executed, the duty on conveyance shall be the duty calculated on the market value of the property reduced by duty paid on the power of attorney. // -->
