as mentioned in sub-section (1) as a proper officer for defacing the challan and making the endorsement on such instruments. If you register your vacation and license agreement with a lawyer in Mumbai, it could cost between INR 3,000 and INR 7,000, including legal fees. (1) having area upto 27.88 squares meters (300 square feet); Rs. 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. SURRENDER OF LEASE including an agreement for surrender of lease--. : detection of frauds under Information Technology Act. 9.11 Deficient portion of stamp duty : amount of maximum penalty increased. (Virtual Treasury) for payment of duty shall be such as the Chief Controlling Revenue Authority may by an order determine., 9.4 Fixing liability of payment of stamp duty even on unregistered documents, Aftersection 10Cof the principal Act, the following section shall be inserted, namely :, 10D. 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. By Order dated 1st March 2019, the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. (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. 9.8 Simplication of procedure for filing Appeal before Addl. 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. What is stamp duty on gift deed in Mumbai?. 100/- need to be paid as stamp Duty for Gujarat Property Registration. The same charges apply if you purchase a resale flat in Mumbai. Stamp duty must be paid by affixing non-judicial stamps to the document. Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. 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. --For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person. Other states levy additional tax such as metro cess and local body tax along with stamp duty. Stamp Duty on lease agreement in Maharashtra 2. To login, select "Stamp Duty" and Login as "Individual User" or "Business User". (c) for the sole purpose of enabling any person to receive any pension or charitable allowance. It is basically a levy on any transaction based on exchange of documents or execution of instruments. Just like the Stamp Duty, the registration charges in Mumbai are also set by the Maharashtra Government. See 1970 License Agreement, para. var a=new Image(); a.src=img; return a; If you want to do it yourself, the fee is INR 1,000 if your property is under the jurisdiction of the Municipal Corporation, and INR 500 if your property is . Users can also verify the receipt of payment. (a) where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000; (b) where such share contribution brought in by way of cash is in excess of Rs. CERTIFICATE OR OTHER DOCUMENT, evidencing the right or title of the holder thereof, or any other person either to any shares, scrip or stock in or of, any incorporated company or other body corporate, or to become proprietor of shares, scrip or stock in or of, any such company or body. Insufficiently stamped documents are not admitted as evidence in the court. (ii) If relating to the purchase of one or more units in any scheme or project by a person from a developer: Same duty as is leviable under clause (a), (b) or (c), as the case may be, of Article 25 on the market value of the unit. Cancellation of adhesive stamps 17 13. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper Rule 10(ii). See also Letter of Allotment of Shares (Article 37); Explanation. or by any other system of payment as may be notified by the state government in this behalf, in respect of such instruments, as may be specified in the notification passing through their system or related to their functioning of which registration is not compulsory. ARTICLE 25 - CONVEYANCE DEED, SALE DEED, AGREEMENT FOR SALE, CONVEYANCE (not being a transfer charged or exempted under Article 59) --, On the true market value of the property which is the subject matter of the Conveyance,--, (b) if relating to immovable property situated ,--. 4,500 Plus renewal fee applicable under entry 3. ; by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person. Now, Let's discuss the Stamp Duty in State-Delhi. 9.12 Voluntary disclosure of fact of instrument not duly stamped. 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. 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. Stamp duty in India is governed by two legislations, i.e a stamp Act legislated by the Parliament and a stamp Act legislated by the state legislature. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. Using this site anyone like importer, supplier, transporter and agent can pay Octroi tax online to the Municipal Corporation of Greater Mumbai. 2.2 The stamp papers must be in the name of one of the parties to the transaction. According to a FPJ report, in Mumbai, revenue expected through metro cess for 2022-23 is Rs 1000 crore. (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. 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. 5 (a) to (g) adhesive under section 11, for Art. Trademark Agreement, 2. 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. * The amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. This tax is referred to as stamp duty. 1983). e-Registration of Leave and License Agreement. STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11, ARTICLE 39 MEMORANDUM OF ASSOCIATION OF A COMPANY (Detailed chart attached). Yes, when you buy a house in Mumbai that will take two years to get ready for possession, you will have to pay 2% as stamp duty and 1% as the registration charge on the purchase. See also Settlement (Article 55). The same duty as is leviable on Conveyance under clause (a), (b) or (c), as the case may be, of article 25 on 50 % of the market value of the property. Instrument of gift has been defined to include, where the gift is of any movable or immovable property but has not been made in writing, any instrument recording whether by way of declaration or otherwise the making or acceptance of such oral gift. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). According to the Maharashtra Stamp Act, each document require stamp with proper stamp duty and with the proper mode. You can get the eSBTR on giving a printout of proof of payment online at nominated branches of the bank.