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. 50/- shall be rounded of to the next Rs. as they are worded or drafted. 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. A highly motivated and ambitious practising Advocate and Solicitor with an experience in commercial litigation and dispute resolution. LX of 1958), the Government of Maharashtra, having satisfied that it is necessary to do so in the public interest, hereby reduces, with effect from the 1st August, 1994, the maximum duty chargeable on Articles of Association of a Company under Article 10 of Schedule I of the said Act, to Rs. 5. [Title] So we have rented a flat in Mumbai, the owners include me, my mom and my sister. The stamp office determines the market value of the property by referring to an Annual Statement of Rates (commonly known as Stamp Duty Ready Reckoner) which provides the Market Values of various immovable properties in Maharashtra. 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. They provide evidence of the terms and conditions agreed upon by the parties . Amendment to Section 70 of Maharashtra Stamp Act: By way of this amendment, the amount of stamp duty, which is determined, payable on instruments chargeable with more than Rs. Stamp duty on foreign currency loan agreements is generally capped at RM2,000. 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. ARTICLE 17 CERTIFICATE OR OTHER DOCUMENT. Follow these steps, to pay your stamp duty online: Step 1: Visit the Maharashtra Stamp Duty online payment portal. 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 . (iii) within the limits of anyGrampanchayatarea or any such area not mentioned in sub-clause (ii). Stamp duty is chargeable on an instrument and not on a transaction. To avail of this facility the taxpayer is required to have a net-banking account with any of the banks listed by the government on the website. 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. 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. STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11, ARTICLE 39 MEMORANDUM OF ASSOCIATION OF A COMPANY (Detailed chart attached). 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 . ((navigator.appName == "Microsoft Internet Explorer") && The Contact Details of ACCs, SHCIL Offices and SROs are available on the Web site "www.shcilestamp.com" TRADEMARK LICENSE AGREEMENT 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 . (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). The existing ceiling of stamp duty payable on an agreement relating to deposit of title deeds, pawn, pledge or hypothecation where the amount secured exceeds Rs.5 lakhs stamp duty has been amended to 0.3% of the amount secured subject to a maximum of Rs. Only authorised vendors can sell the stamps. Conveyance has been defined to include: every decree or final order of any Civil Court. Act LX of 1958) as amended from time to time. LLP Agreement Stamp Duty | Stamp Duty for LLP Deed LLP agreement filing with the Ministry of Corporate Affairs is the last leg for LLP Incorporation . (2) a letter, article, document, parcel, package or consignment, of any nature or description whatsoever or by whatever name called, given by a person, courier company, firm or body of persons whether incorporated or unincorporated to the sender of such letter, article, document, parcel, package or consignment. If on adjustment, no duty is required to be paid then a minimum duty for the conveyance shall be Rs. (aa) Additional Controller of Stamps, Mumbai means the officer or officers so designated by the State Government and includes any other officer whom the State Government may, by notification in the Official Gazette, appoint in this behalf ; . (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. 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. In absence of any State stamp legislation, the IS Act applies. 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. It is basically a levy on any transaction based on exchange of documents or execution of instruments. --Where under clause (f), duty has been paid on the power of attorney, and a conveyance relating to that property is executed in pursuance of power of attorney between the executant of the power of attorney and the person in whose favour it is executed, the duty on conveyance shall be the duty calculated on the market value of the property reduced by duty paid on the power of attorney. 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. (2) having area more than 27.88 squares meters (300 square feet). Stamp duty is the transactional tax, which plays a key role in the transactions made on a property. (a) for or relating to the purchase of sale of goods or merchandise exclusively, not being an agreement or memorandum of agreement chargeable under entry (d), entry (e), entry (f) or entry (g) of this Article or a note or memorandum chargeable under Article 43; AGREEMENT TO LEASE: See Lease (Article 36). Controller of Stamps ,Mumbai/Designated Officers. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. 9.13 Time limit for filing Application for refund of stamp duty : Date of execution of Agreement to Sale: Date of Registration :Cancellation of registered instrument described under Article 25 of schedule I. Important Timeline of Maharashtra State. In India there are 29 States and Stamp Duty varies in each State for ex: The Stamp Duty for Rent Agreement in Delhi is Rs. ], A. The agreements are for: 1. Tenancy agreement in Maharashtra When renting a property, landlords and tenantsmust engage in proper documentation to make the rental agreements legally binding. as mentioned in sub-section (1) as a proper officer for defacing the challan and making the endorsement on such instruments. Using this site anyone like importer, supplier, transporter and agent can pay Octroi tax online to the Municipal Corporation of Greater Mumbai. Rate of Stamp Duty will be 0.005 % of the market value both for shares and debentures. Trademark Agreement, 2. Now, with the passage of this bill, this one year set-off period has now been extended to three years. 10,000 Plus renewal fee applicable under entry 3. Mumbai. Stamp duty on mortgage under article 40(b) of schedule I of the Act, when possession is not given or agreed to be given and if the amount secured is less than Rs.5 lakhs then the Stamp Duty shall be 0.1% of the amount secured subject to a minimum of Rs.100. 5 (a) to (g) adhesive under section 11, for Art. _______ paid in *cash/by demand draft/by pay order/e-Challan, vide Receipt/Challan No._______________/GRN No._______________CIN_____________ dated the ___________. 20,00,000/-. All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. 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. In Gujarat Basic rate of Stamp Duty is 3.50% and Total rate is 4.90% i.e., Rs. Any person can apply to the Collector of Stamps for adjudication of the stamp duty payable on the instrument. The instruments specified in the Schedule-I to the Act are covered by this Act. 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. 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. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. 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. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper Rule 11. 22-12-2011: As per new circular from IGR, the old agreement, which has expired 8 months period from the date of execution cannot be registered. 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. 5 % For properties under the jurisdiction of Municipal Corporation . It's worth noting that the stamp duty rate is the same for both residential and commercial properties for a period of up to 60 months. Registration fees, on the other hand, stand at a standard one per cent across states. 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. 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. Seal of the office. The Haryana State Government has decided to cut stamp duty on loan agreements to just 100. Stamp duty must be paid by affixing non-judicial stamps to the document. While Buying a Non-Judicial Stamp Paper you need to provide the following details: Names of parties to the agreement (First party, second party, etc. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. Stamp Duty and Property Stamp Duty and shares, stocks and marketable securities Stamp Duty and leases Gifts and inheritances ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. See 1970 License Agreement, para. You can register as user on the portal and can avail services such as the registration for importer, goods, agent, transporter etc. Check all needed legal documents, Payments, Charges, Property Registration, Rates & its Calculation procedure. Conditions (1) Maharashtra Housing and Area Development Authority (MHADA) must certify that the Project is an approved project under the Pradhan Mantri Awas Yojana- Housing for All (Urban). Malaysian Ringgit (RM) loan agreements generally attract stamp duty at 0.5% However, a reduced stamp duty liability of 0.1% is available for RM loan agreements or RM loan instruments without security and repayable on demand or in single bullet repayment. 100/- any fraction of Rs. if(MSFPhover) { MSFPnav4n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav4h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). Any party to an instrument can also. 9.7 Deficient portion of stamp duty : amount of maximum penalty increased. 9.1 Additional Controller of Stamps, Mumbai : New Statutory Authority, Insection 2of the Maharashtra Stamp Act (hereinafter referred to as the principal Act), before the existing clause (a), the following clause shall be inserted, namely :. Stamp Duty on lease agreement in Maharashtra 2. Thanks. Signature of the Officer. 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. *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. every order made by the High Court u/s. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper Rule 10(ii). So, if someone is transferring his property to their children, spouse or siblings though a deed of gift, they have to pay three per cent of the deal value as stamp duty. 9.9 Deficient portion of stamp duty : amount of maximum penalty increased. var a=new Image(); a.src=img; return a; STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. } 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. Registration Charges: Registration Charges in Tamil Nadu are 4 per cent of the guidance value, so will be Rs.2,00,000. Forsection 68of the principal Act, the following section shall be substituted, namely : 68. The stamp duty on rental agreements consists of a flat charge of 0.25% of the total rent for the time that must be applied to all leave and license agreements. The registration charges on this deed would be based on the deal value, too . 9.11 Deficient portion of stamp duty : amount of maximum penalty increased. 100. Stamp duty is a levy payable on instruments specified by statute on a fixed or on ad valorem basis. One such factor is the location or area of the property. In case of sale, transfer or reissue; 1. 100/-. // -->. NOTARIAL ACT, that is to say, any instrument, endorsement, note, attestation, certificate or entry not being a Protest (Article 49) executed by a Notary Public in the performance of the duties of his office, or by any other person lawfully acting as a Notary Public. For business users who are e-stamping their documents, you must register for an e-Stamping Account ID via the IRAS e-Stamping portal. Fully Online. This tax is referred to as stamp duty. 0.25 % of the total sum of --- (i) the license fees or rent payable under the agreement; plus (ii) the amount of non- refundable deposit or money advanced or to be advanced or premium, by whatever name called; plus (iii) the interest calculated at the rate of 10% p.a. Who bears and pays the stamp duty is a matter of agreement between the parties. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. (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. 100/- equal to or exceeding Rs. (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. You can get the eSBTR on giving a printout of proof of payment online at nominated branches of the bank. Now, Let's discuss the Stamp Duty in State-Delhi. In August 2020, Maharashtra Government announced that they are reducing the stamp duty for the next three months. ADOPTION DEED, that is to say, any instrument(other than a Will) recording an adoption or conferring or purporting to confer an authority to adopt. 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. Explanation. 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 . E-payment of stamp duty can be done through: Online payment into the Virtual Treasury through Government Revenue and Accounting System (GRAS) 12; or Electronic Secured Bank and Treasury Receipt (e-SBTR) issued by authorised banks 13. 2.2 The stamp papers must be in the name of one of the parties to the transaction. Provided that, the provisions of section 32A shall,mutatis mutandis, apply to 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 Rs. The upper limit is twenty thousand rupees (rule 20,000/-) and the lowest is rupee five hundred (rule 500/-). 2. Insufficiently stamped documents are not admitted as evidence in the court. Enter the details and pay the duty through your Internet banking account. Controller of Stamps, Mumbai. 50/- shall be disregarded. 100. (b) when possession is not given or agreed to be given as aforesaid. bodies or local authorities e.g. For all properties with a market value below Rs.30 Lakh, the registration charges are set at a static Rs.30,000. 100/- and fractions of less than Rs. 4.90 for every Rs. W.e.f. Insection 32Bof the principal Act, (i) in sub-section (1), after the words file an appeal against such order, to the the words Additional Controller of Stamps, Mumbai in respect of the property, which is the subject matter of the instrument, is situated in Mumbai City and Mumbai Suburban Districts and in respect of the properties situated in the other parts to the shall be inserted; (ii) in sub-section (2), after the words against the order of the the words Additional Controller of Stamps, Mumbai or the shall be inserted. Even instruments executed outside the State are liable to duty within 3 months on their receipt in the State, provided it relates to a property situated in the State or a matter or thing to be done in the state. 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. It cannot be in the name of the Consultants, Solicitors, Chartered Accountant or Lawyer of the parties. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. 100. The Act is a fiscal measure enacted to secure revenue for the State from certain classes of instruments. (c) where such share contribution is brought in by way of property, excluding cash. (parseInt(navigator.appVersion) >= 4 ))); Any instrument executed in the state of Maharashtra shall be liable for payment of Stamp duty according to Section 3 of the Act at the rates provided in Schedule I to The Maharashtra Stamp Act. Step 2: Select an area, that is, Municipal Corporation or Gram Panchayat. ; (b) in Article 34, in column 2, in the above proviso,- (i) for the words at the same rate as specified in this article or at the rate of rupees ten for every rupees five hundred or part thereof on the market value the words and figure at the rate of 3 per cent. (3) The Occupancy Certificate must be granted by the concerned Planning Authority. 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--. 10.1 Deletion of requirement to round off duty amount. (da) if relating to the order of the High Court under section 394 of the Companies Act, 1956 or the order of the National Company Law Tribunal under sections 230 to 234 of the Companies Acts, 2013 or confirmation issued by the Central Government under sub-section (3) of section 233 of the Companies Acts 2013 in respect of the amalgamation, merger, demerger, arrangement or reconstruction of companies (including subsidiaries of parent company) or order of the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies. 100+50=150 And just to be sure that something is not left out. You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. Stamp Duty on Rental Agreement. 100. In Maharashtra, stamp duty charges on the market value of the property or on the agreement value . 9.3 E-payment through Government Receipt Accounting System (GRAS): Virtual Treasury, Insection 10of the principal Act, after sub-section (3), the following sub-section shall be inserted, namely :, (3A) The procedure to regulate the use of e-payment, through Government Receipt Accounting System (G.R.A.S.) Section 35 of List 1 of the Bombay Stamp Act states that the stamp duty on the compensation loan was 500/- (five hundred rupees). Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. After obtaining the Incorporation Certificate, the LLP agreement, duly signed by the partners of the LLP, must be filed within 30 days. 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. These states include Haryana and Maharashtra. 0.2% on share capital or increased share capital ,as the case may be subject to a maximum of Rs. 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 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. 9.6 Deficient portion of stamp duty : amount of maximum penalty increased. See also Certificate or other Document (Article 17). Stamp Duty is payable in full and is to be paid on the deadline. In Case Duty Exceeding Re. For the purpose of this article, the market value, for the instruments falling under section 2 (n) (iii) (Toll Agreements) and article 5 (g-e) (Hire Purchase agreement), shall be the total contract value and they shall be chargeable to duty same as under clause (a) of article 25. Advantages of Notarised Agreements: Legally Binding: Notarised agreements are legally binding and enforceable in a court of law. Control Act, 1999. If the property is sold by Govt. 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. In Maharashtra, the Stamp Duty rate ranges from 3% to 6% of the total transaction price and is subject to variations based on document type, locality, and other factors. A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. 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This Act No._______________CIN_____________ dated the ___________ secured bank treasury receipt ( eSBTR -an. Property or on ad valorem basis Corporation of Greater Mumbai be Rs.2,00,000 in proper documentation make. And enforceable in a court of law Detailed chart attached ) the limits of or. Payment service on the deal value, So will be 0.005 % of the parties defacing the and...