The Reckoner divides the immovable property into various categories such as land, residential units, industrial units/office, shops, etc., and fixes their market value accordingly. Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. The same duty as is leviable on a conveyance under clause (a), (b) or (c), as the case may be, of article 25 on 25 % of the market value of the property. Select the option based on your requirement, such as "Sales Deed" and "Agreement to sale". - For the purposes of this Article, the value of shares, scrip or stock includes the amount of premium, if any. (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. As per the Ordinance dated 9th February 2021 amendment to Articles 6(1) and 40 has been carried out to bring uniformity in stamp duty chargeable on the instruments of mortgage by deposit of title deeds and simple mortgage deed. - For the purposes of this Article, return of money paid as advance, on security deposit by lessee to the lessor shall not be treated as consideration for the surrender. The Stamp Duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on transaction of Sale, Mortgage and Gift Deed will attract a 1% metro cess from 1st April,2022 over and above the Stamp Duty rate. 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. STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11]. (v) assignment of copyright under Copyright Act, 1957, -, (vi) project under Built, Operate and Transfer (BOT) system, whether with or without toll or free collection rights,-. Controller of Stamps ,Mumbai/Designated Officers. 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. 5 (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 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. The new rate after the reduction was 2% (from earlier 5%) and applied from 1st September to 31st December 2020. ((navigator.appName == "Microsoft Internet Explorer") && 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. The stamp duty on rent agreement you pay in Mumbai is governed by the Bombay Stamp Act, 1958. 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. 20/- and in Gujarat is Rs. if relating to transfer of tenancy of immovable property, for every square meter of the area of the tenanted property the right of tenancy in which is the subject matter of transfer and situated Within the limits of--, (i) the Municipal Corporation of Greater Bombay--. Stamp Duty Increased from 3% to 5% w.e.f. W.e.f. In the absence of any such agreement, the Act provides that in the case of a Conveyance, duty is to be paid by a buyer and by the lessee in case of a lease. You have to pay a stamp duty while registering the rent agreement, which will vary, depending on the city where it is registered. 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. 0.3% of the amount secured by such deed subject to maximum of Rs. The expression co-owners includes all kinds of, Immovable Property includes land, benefits to arise out of land and things attached to the earth or permanently fastened to anything attached to the earth. 30,00,000 is Rs. Rs.500 plus 0.1 % of the amount above Rs.10,00,000 subject to maximum of Rs.25,00,000. 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--. Sub : Levy of Stamp Duty on the Deeds of Agreements made prior to 10/12/1985 Reference : Your Letter No.BOM/5064/06 dated 03/08/2006 . 2. In cases of Bonds, Release, Settlement, it is to be paid by the person making or drawing the instrument. Stamp Duty on Rental Agreement. A Leave and Licence Agreement is also known as a Rent Agreement. 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 . LEASE, including under lease or sub-lease and any agreement to let or sublet or any renewal of lease--, The same duty as is leviable on a conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 10 % of the market value of the property, (ii) for a period exceeding 5 years but not exceeding 10 years, with a renewal clause contingent or otherwise. TRANSFER (whether with or without consideration). (i) If the amount secured by such deed does not exceed Rs.5,00,000, 0.1% of the amount secured by such deed , subject to minimum of Rs.100, 0.3% of the amount secured by such deed , subject to maximum of twenty lakh rupees. 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. How much are stamp duty and registration charges in Karnataka for agricultural land? A.Hi, Stamp duty and Registration Charges differ from one state to another. Trademark Agreement, 2. 9.6 Deficient portion of stamp duty : amount of maximum penalty increased. It is an indirect tax collected by the State Government in Maharashtra. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. Explanation- for the purpose of this clause, the principal or primary security shall mean, the security created under clause (a) or (b) above. (2) The Master Layout Plan or subsequent building plan of an approved project under the Pradhan Mantri Awas Yojana- Housing for All (Urban) must be sanctioned or approved by the Planning Authority. Mumbai. 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 . Some states offer reduced stamp duty charges for female homebuyers. In Maharashtra, stamp duty charges on the market value of the property or on the agreement value . 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. (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. e.B. . Application for renewal with surcharge/ restoration and renewal of a Trademarks under section 25 (3), 25 (4) for each class. // -->