if(MSFPhover) { MSFPnav2n=MSFPpreload("../_derived/home_cmp_Profile110_home.gif"); MSFPnav2h=MSFPpreload("../_derived/home_cmp_Profile110_home_a.gif"); } Vide Notification No. 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. Fully Online. See Kelson Cos., Inc. v. Feingold, 309 S.E.2d 394, 396 (Ga.Ct.App. 1 by Impressed Stamp Fixed by Proper Officer. Stamp Duty in Mumbai Based on Area Type. Proof of Title: 9.7 Deficient portion of stamp duty : amount of maximum penalty increased. It should be for consideration. Stamp duty in Mumbai depends on a lot of factors. var a=new Image(); a.src=img; return a; Explanation(1) For the purposes of this Order, unit means, a residential unit. The Maharashtra Stamp (Second Amendment) Act, 2017 have increased the percentage of stamp duty in certain cases under Article 25 and Article 34 of Schedule I to the Maharashtra Stamp Act, 1958. It is basically a levy on any transaction based on exchange of documents or execution of instruments. ARTICLE 36A LEAVE AND LICENSE AGREEMENT. In case of sale, transfer or reissue; 1. The amount of Stamp Duty payable depends on type of instruments. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). (iii) for a period exceeding 10 years but not exceeding 29 years, with a renewal clause contingent or otherwise. if(MSFPhover) { MSFPnav5n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav5h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } 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 . (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. The stamp paper used for paying stamp duty on an LLP agreement is non-judicial stamp paper. 10. 25,00,000. (iii) within the limits of anyGrampanchayatarea or any such area not mentioned in sub-clause (ii). 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. They cannot be in the name of the Chartered Accountant or Lawyer of the parties. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. 9.18 Delegation of certain powers to CCRA : Addl. However, same is not available in the case of Resale and other types of instruments. Both the abovementioned payment options can be availed on https://gras.mahakosh.gov.in/echallan/. 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 one hundred . 17 12. Explanation II. According to a FPJ report, in Mumbai, revenue expected through metro cess for 2022-23 is Rs 1000 crore. (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). 50,00,000. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. 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. 2. 5,00,000; 0.1% of the amount secured by such deed subject to the minimum of Rs. 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. 100. The eSBTR is a receipt of duty paid to the government. 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. (1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884), or by their sureties as security for the repayments of such advances. STAMPS TO BE USED -- Non-Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper Rule 10 (ii). RECORD OF TRANSACTION (Electronics or otherwise) effected by a trading member through a stock exchange or the association referred to in Section 10 B-, (a) if relating to sale and purchase of Government securities, Rs.50 for every Rs. In the State of Maharashtra stamp duty on issue of share certificates is 0.1 per cent on the value of the share certificate inclusive of premium, if any, under Article 17 of Schedule I to Maharashtra Stamp Act, 1958. It does not include the instrument or document/s executed between the original purchaser from the project Proponent/s and the subsequent purchaser of a residential unit located in the said area. (c) exceeds rupees 5,000 but does not exceed rupees 10,000; (d)exceeds rupees 10,000 but is less than rupees 10,00,000; and. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). (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. APPLICABILITY The Maharashtra Stamp Act extends to the whole of the State of Maharashtra. One such factor is the location or area of the property. 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. Explanation I. (2) having area more than 27.88 squares meters (300 square feet). 0.1% of the value of the shares ,scrip or stock. 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. 11.2Stamp duty of Rs.1000/- only for property located in areas approved under the Pradhanmantri Awas Yojana subject to certain conditions, No.Mudrank-2015/1745/UOR.24/CR-573/M-1.In exercise of the powers conferred by clause (a) of section 9 of the Maharashtra Stamp Act (LX of 1958) (hereinafter referred to as the said Act) and in supersession of the Government Order, Revenue and Forests Department, No.Mudrank-2015/1745/ U.O.R.24/CR-573/M-1, dated the 1st December 2016, the Government of Maharashtra, being satisfied that it is necessary to do so in the public interest, hereby reduces and fixes the stamp duty to the extent of Rs.1000/-(Rupees One Thousand only) as otherwise chargeable under clause (b) of Article 25 of Schedule-I appended to the said Act, 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) or Lower Income Group (LIG) category for the allotment of residential premises as specified in the Schedule appended hereto, relating to the property located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing for All (Urban), a Centrally Sponsored Scheme of the Ministry of Housing and Urban Poverty Alleviation, Government of India, subject to the following conditions, namely:. the Stamp Duty payable under Article 25(b) of Schedule 1 of the Bombay Stamp Act, 1958. Further it has to be paid on time to avoid penalty. By Notification dated 28th March 2020, the Government of Maharashtra had announced a concession in Stamp Duty rate @ 1% for 2 years with effect from 1st April 2020. 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. Stock exchange, etc., to deduct stamp duty from trading members accounts 16 10C. However agreement for sale of flats, shops, etc. Under the license, the licensor retains ownership of the IP and the licensee has the right to use the IP only in accordance with the terms of the license. A license may apply to any type of IP -trademark, patent, copyright,design and/or know-how. 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. 100. 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. Important Timeline of Maharashtra State. AFFIDAVIT, that is to say, a statement in writing purporting to be a statement of facts, signed by the person making it and confirmed by him on oath or, in the case of persons by law allowed to affirm or declare instead of swearing, by affirmation. 2.3 The date of issue of the stamp paper must not be more than 6 months older than the date of the execution of the instrument. Explanation- for the purpose of this clause, the principal or primary security shall mean, the security created under clause (a) or (b) above. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). 100+50=150 And just to be sure that something is not left out. B If the agreement claims to be for a period of more t (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). Of all the charges, stamp duty is the major component. Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. This section deals with Stamp Duty on instruments (written documents). The normal stamp duty to be paid is as per clause 5 (c) of schedule 1-A of the Indian Stamp Act applicable to Delhi i.e. 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. aspen ward hinchingbrooke hospital, Of Maharashtra ( 2 ) having area more than 27.88 squares meters ( square. 396 ( Ga.Ct.App with a renewal clause contingent or otherwise Kelson Cos., Inc. v.,! 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