5,00,000; 0.1% of the amount secured by such deed subject to the minimum of Rs. the Stamp Duty payable under Article 25(b) of Schedule 1 of the Bombay Stamp Act, 1958. The stamp duty on the lease agreements is applicable across all cities in Maharashtra. Using this site anyone like importer, supplier, transporter and agent can pay Octroi tax online to the Municipal Corporation of Greater Mumbai. Explanation III.(i) For the purposes of clause (da) the market value of shares,--, (a) in relation to the transferee company, whose shares are listed and quoted for trading on a stock exchange, means the market value of shares as on the appointed day mentioned in the Scheme of Amalgamation or when appointed day is not so fixed, the date of order of the High Court; and, (b) in relation to the transferee company, whose shares are not listed/or listed but not quoted for trading on a stock exchange, means the market value of the shares issued or allotted with reference to the market value of the shares of the transferor company or as determined by the Collector after giving the transferee company an opportunity of being heard. Important Timeline of Maharashtra State. (a) Where the leave and license agreement purports to be for a term not exceeding 60 months with or without renewal clause. Similarly, Stamp Duty under above Article in rest of Maharashtra State was reduced by Two percent (2%) for the period starting from 1st September, 2020 and ending on 31st December, 2020 and by One Half percent (1.5%) for the period starting from 1st January, 2021 and ending on 31st March, 2021. (2) Dissolution of partnership or retirement of partner inclusive of Limited Liability Partnership and Joint Venture to run a business ,earn profits and to share profits ,whether in cash or in kind-. The reduced stamp duty shall apply to all loan agreements executed by borrowers in favour of banks, financial institutions, and financial development corporations. 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. 9.9 Deficient portion of stamp duty : amount of maximum penalty increased. Advantages of Notarised Agreements: Legally Binding: Notarised agreements are legally binding and enforceable in a court of law. on the refundable security deposit or money advanced or to be advanced, by whatever name called. 1 Revenue stamp. Explanation II-- Where in the case of an agreement to mortgage the amount or part thereof sought to be secured by such an agreement is advanced or disbursed to the mortgagor or without execution of a mortgage deed, then such an agreement to mortgage shall, notwithstanding anything contained in clause (d) of section 2, become chargeable under this Article as mortgage-deed on the date of making of such advance or disbursement either in part or in whole. (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. Seal of the office. 0.2% on share capital or increased share capital ,as the case may be subject to a maximum of Rs. 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. Here is how are two charges he needs to pay to register this property. (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. In case of sale, transfer or reissue; 1. STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11]. 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. In case an instrument is so drafted that it is covered within the ambit of more than one Article under Schedule I, then it shall be taxed by that Article which levies the highest amount of stamp duty. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. Mundrak. if(MSFPhover) { MSFPnav1n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav1h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. Articles of any association not formed for profit and registered under section 25 of the Companies Act, 1956 See also Memorandum of Association of a Company (Article 39). Further, any public officer can impound such improperly stamped instruments if it comes to his notice. Provided that, if the property is gifted to a family member being the husband, wife, brother or sister of the donor or any lineal ascendant or descendant of the donor, then the amount of duty chargeable shall be at the rate of 3 per cent on the market value of the property which is the subject matter of the gift, Provided further that ,if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson and grand-daughter, the amount of duty chargeable shall be Rs.200. Conveyance has been defined to include: every decree or final order of any Civil Court. If the amount secured is more than Rs.5 lakhs then the Stamp duty shall be 0.3% of the amount secured subject to a maximum of Rs.20 Lakhs. The instruments or the documents have to be read as they are i.e. (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 amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. If payment of the stamp duty is delayed, it will incur a fine. Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. Provided that, the provisions of section 32A shall,mutatis mutandis, apply to such an instrument of power of attorney as they apply to a conveyance under that section. 68. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). These states include Haryana and Maharashtra. To login, select "Stamp Duty" and Login as "Individual User" or "Business User". 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. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. 1% of the amount of share contribution subject to maximum of Rs.15,000. 9.18 Delegation of certain powers to CCRA : Addl. agreement over any right to a registered geographical indication (section 24). 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. Of all the charges, stamp duty is the major component. : detection of frauds under Information Technology Act. Enter the details and pay the duty through your Internet banking account. 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. Rs 100. through the stock exchanges or clearing corporations authorized by the stock exchange or by the depositories) on one instrument, In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of. 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. 50/- while Stamp Duty for Rent Agreement in Bangalore is Rs. Check all needed legal documents, Payments, Charges, Property Registration, Rates & its Calculation procedure. 10.1 Deletion of requirement to round off duty amount. Further it has to be paid on time to avoid penalty. Stamp duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on sale, mortgage and gift deed details will attract a 1% metro cess from April 1, 2022 as these places have metro projects -operational or work under progress. (a) If accompanied by articles of association under section 26 of the Companies Act, 1956, (I of 1956). ARTICLES OF ASSOCIATION OF A COMPANY Where the Company has no share capital or nominal share capital or increased share capital. Stamp Duty on lease agreement in Maharashtra 2. The registration fee is 1.05%. 7% rent increase after 12 months. Would this fall under Article 5(h) (A) (iv) or Article 5(h)(B) since there is a huge difference in the stamp duty levied in both the cases. INSPECTORSHIP DEED, see Composition Deed (Article 24). 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. 50,000 or part thereof. 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. Stamp duty rate: The rates at which stamp duty is charged in various Indian states at present range from 4 per cent to 10 per cent. Some states offer reduced stamp duty charges for female homebuyers. 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. 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. The upper limit is twenty thousand rupees (rule 20,000/-) and the lowest is rupee five hundred (rule 500/-). 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. 0.1% of the value of the shares ,scrip or stock. 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. 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. 2 % of the, amount or the market value of the separated share or shares of the property. Mudrank-2020/C.R.136/M-1 (Policy) issued by Revenue and Forest Department dated 29.08.2020 wherein 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 in Mumbai City and Mumbai Suburban was reduced by Three percent (3%) for the period starting from 1st September, 2020 and ending on 31st December, 2020 and by Two percent (2%) for the period starting from 1st January, 2021 and ending on 31st March, 2021. Other states levy additional tax such as metro cess and local body tax along with stamp duty. Vide Notification No. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. bodies or local authorities e.g. Step 2: Select an area, that is, Municipal Corporation or Gram Panchayat. Patents The Patents Act does not contain any restrictions on the assignment of a licence. Insection 30of the principal Act, (a) in clause (f), the word and shall be deleted ; (b) after clause (f), the following clause shall be inserted, namely : (f-a) in case of instruments of works contract as provided in Article 63 of SCHEDULE I, by the person receiving the contract;. 1000 and maximum of Rs.50,00,000. Sale Certificate issued by any competent office or authority under any Recovery Act, Agreement relating to the Deposit of title deeds, where such deposit has been made by way of security for the repayment of a loan or an existing or future debts. 50. Stamp Duty Increased from 3% to 5% w.e.f. Finance Department (FD), Government of Maharashtra, has decided to receive payments electronically. 9.2 Several instruments used in a single transaction: Development Agreement, Sale and new instrument (Lease) included along with mortgage or settlement. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state . // -->