var a=new Image(); a.src=img; return a; It is a tax paid to the government, similar to the income tax. They provide evidence of the terms and conditions agreed upon by the parties . 100/-. Earlier it was charged under article 25(b) which amounted to 5% on Market Value of the premises. Of all the charges, stamp duty is the major component. * The amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. if(MSFPhover) { MSFPnav4n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav4h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } Circular w.e.f. 0.3% of the amount secured by such deed subject to maximum of Rs. Stamp Duty is payable in full and is to be paid on the deadline. Stamp Duty to be paid to the state where registered office of the company is situated. W.e.f. [Title] So we have rented a flat in Mumbai, the owners include me, my mom and my sister. The licensor is responsible for registering the leave and license agreement with the government; non-registration of a leave & license agreement also leaves the licensor responsible for a monetary fine or incarceration, in addition to the possibility of pushing the premises into litigation. 100. 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. Factoring Agreement. 4.90 for every Rs. 50 or an amount equal to 5% of the amount of consideration ,whichever is higher, (2) having area more than 27.88 squares meters (300 square feet), (i) any advertisement on mass media, made for promotion of any product; or programme or event with an intention to make profits or business out it,-. As per Article 53 of Indian Stamp Act, 1899, RECEIPT for any money or other property the amount or value of which exceeds Rs. 100/-. To use this stamp duty calculator, follow this simple step: Step 1: Visit the stamp duty online calculator page. 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. All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. 0.2% on share capital or increased share capital ,as the case may be subject to a maximum of Rs. In case of exchange, it is to be paid by the parties in equal shares and in case of partition, by the parties in proportion to their respective shares. This type of agreement is used to allow a licensee to use a licensor's property for commercial or personal use for the duration of the contract. 17 12. (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. (6) Any project proponent or the Purchaser of any unit for which the reduction in the stamp duty is granted under this Order, and which fails to fulfill the purpose or objectives of the said policy or commits breach of any of the conditions or special regulations as specified in the said policy or this order, shall be liable to pay the whole stamp duty and penalty, if any, as if there was no reduction in stamp duty from the beginning. A Leave and License Agreement is an agreement wherein the licensor temporarily allows the licensee to use and occupy licensor's immovable property, either full or a portion of it, for the purpose of carrying out business activity or for residential use. ((navigator.appName == "Microsoft Internet Explorer") && Explanation. Stamp Duty The e-stamping Portal will be integrated with myTax Portal. 4. if(MSFPhover) { MSFPnav5n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav5h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } See also Settlement (Article 55). ; (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. Stamp duty is chargeable on an instrument and not on a transaction. Vide Notification No. Depending upon the Instrument, it may be based upon the Market Value, Area, or other various criteria. (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. the Stamp Duty payable under Article 25(b) of Schedule 1 of the Bombay Stamp Act, 1958. The purchaser has to enter into an agreement with the seller of the flat and the stamp duty is computed as per the agreement value . The slashing of stamp duty in Mumbai from 5% to 2% from September to December 2020, and 3% till March 31, 2021, had boosted residential realty sales. The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. --For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person. Registration fees, on the other hand, stand at a standard one per cent across states. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper 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 . STAMPS TO BE USED -- Adhesive Stamp (Section 11). - 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. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. In all other cases, it is to be paid by the person executing the instrument. 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. 10 % 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: Provided that, the amount of duty, chargeable under this clause shall not exceed, -, (i) an amount equal to 5 % of the true market value of the immovable property located within the State of Maharashtra of the transferor company; or. ; by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person. CANCELLATION --Instrument of, if attested and not otherwise provided for. Generally, the stamp duty is paid by the buyer, in some cases, the buyer and seller decide to split the stamp duty as per an earlier signed agreement. According to the Maharashtra Stamp Act, each document require stamp with proper stamp duty and with the proper mode. A license can apply to any type of intellectual property - trademark, patent, copyright, design and/or know-how. if(MSFPhover) { MSFPnav3n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav3h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } The acceptance of on-line payment of Maharashtra State's Taxes through the internet portals of various banks have been developed, without having any implication on the existing procedure of the executive and accounting agencies of the Department. In some states, a flat fee is also charges as property registration charge. Insufficiently stamped documents are not admitted as evidence in the court. (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). 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. Stamp duty is payable as per the provisions of Section 3 of the Indian Stamp Act, 1899. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. Revocation of -- of, or concerning, any property when made by any instrument other than a Will. 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. In Maharashtra the Ready Reckoner changes every financial year i.e. // -->