Maximum 400%. As per Article 5(h)(B) of Schedule I of the Act, read with Section 4 of the Act and as per the latest judgement of Bombay High Court on writ petition of Prabha Laxman Ghate and PIL of Chandrakant Nanekar, the stamp duty on free flats/ galas given to owner of the land by the developer is chargeable with Rs. Explanation For the purposes of this sub clause, the unit shall include a flat, apartment, tenement, block or any other unit by whatever name called, as approved by the Competent Authority in the building plan. 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. Sep 2021 - Oct 20212 months. Therefore , the Respondent states that the Debenture Trust . on the refundable security deposit or money advanced or to be advanced, by whatever name called. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. 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. If any person prevents or obstructs entry of any officer authorized under section 68 or fails to give any reasonable assistance to him, he shall, on conviction, be punished with imprisonment for a term which shall not be less than one month, but which may extend to six months and with fine which may extend to rupees five thousand.. . You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. Thus, no instrument can be registered beyond 8 months from the date of execution. 10.1 Deletion of requirement to round off duty amount. STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11]. } The stamp rate was 3% from 1st Oct 2020 to 31st Dec 2020. Earlier, if the resale of such Immovable Property took place within one year of purchase, the stamp duty payable would only be on the difference of the property rates calculated in the purchase price and the resale price, and not on the entire consideration amount when the property is resold. ARTICLE 36A LEAVE AND LICENSE AGREEMENT. [Redevelopment Projects] No Stamp Duty On Individual Allotment Agreements If Development Agreement Is Stamped: Bombay High Court The Bihar Stamp (Amendment) Rules, 2015.Link . Payment of duty on certain instruments or copies thereof liable to be increased duty in Maharashtra State. 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. (2) Letter of hypothecation accompanying a bill of exchange. for Art. 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. CANCELLATION --Instrument of, if attested and not otherwise provided for. Thus, no stamp duty above 100 prescribed under Maharashtra Stamp Act can be imposed on PAAs for areas that the society members are receiving free of cost after redevelopment. (a) when possession of the property or any part of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given; The same duty as is leviable on a conveyance under clauses (a), (b) or (c), as the case may be, of Article 25, for the amount secured by such deed. Or, 0.7% of the aggregate of the market value of share allotment. 0.5 % of the amount agreed in the contract. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.2 842.4] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
3,q~KQLa5})lDUau2Pyq?P|#K:G::w;9,8izk+x5o/y% hn;p#glsf VK>KJU|p7y6#&Q oFa#K/ (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. Further, any public officer can impound such improperly stamped instruments if it comes to his notice. Currently, as per the Maharashtra Stamp Act, the stamp duty for arbitral awards stands at five hundred rupees in Maharashtra; and in case of Delhi, as per Schedule 1A to the Stamp (Delhi Amendment) Act 2001, the stamp duty is calculated at roughly 0% of the value of the property to which the award relates. Mudrank-2022/C.R.No.78/M-1 (Policy) issued by Revenue and Forest Department dated 01.04.2022 wherein the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. 5,000, is leviable with Re. Explanation I. 2. Memorandum of any association nor formed for profit and registered under section 25 of the Companies Act, 1956, (I of 1956). Thus, within the said area a further transaction from the original purchaser to the next purchaser is not eligible for the reduction in the stamp duty under this order. Areas for the allotment of residential premises (4), 12.1MAJOR ARTICLES AS PER SCHEDULE I OF THE MAHARASHTRA STAMP ACT, (1) A debt written or signed by, or on behalf of, a debtor in order to supply evidence of such debt in any book (other than a bankers pass book) or on a separate piece of paper when such book or paper is left in the creditors possession ,and the amount or value of such debt-. Also read: Stamp duty on property registration in Gujarat Stamp duty in Mumbai 2023 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. MSFPhover = AWARD, that is to say, any decision in writing by an arbitrator or umpire, on a reference made otherwise than by an order of the Court in the course of a suit, being an award made as a result of a written agreement to submit, present or future differences to Arbitration but not being an award directing a partition--. 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. Insection 72of the principal Act, (i) in clause (a) the word and shall be deleted; (ii) after clause (a), the following clause shall be inserted, namely : (a-a) powers conferred on it by clause (b) of section 9, to the Additional Controller of Stamps, Mumbai or any other officer; and.. Under Section 34 of the Act, any instrument which is inadequately/not stamped, then it shall be inadmissible in evidence for any purpose, e.g., in a Civil Court. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. Explanation I. If the garden of your house has a formal design, then you must place the water fountain in a central location so that it can serve as a focal point. Step 2: Click 'Pay Without Registration' if you are not registered with the portal. The same duty as is leviable on a Conveyance under clause (a), (b) (c), as the case may be, of Article 25, on the market value of the property of the greatest value. 8. . MCA;- Stamp Duty Rates in Various States. Indian Stamp Act, 1899 Amendments and Rules made thereunder. The Act is intended to levy stamp duty on certain types of documents executed in the state or brought from outside for The act of payment of stamp duty on a document is known as stamping. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. 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. 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. 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. 100. STAMPS TO BE USED -- Adhesive Stamp, Rule 13 (f) or Non-Judicial Stamp, Rule 6. 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. As per the Maharashtra Stamp Act, the stamp duty rates are as follows - Conveyance . The instruments specified in the Schedule-I to the Act are covered by this Act. You can also place the fountain amidst the two paths. (c) exceeds rupees 5,000 but does not exceed rupees 10,000; (d)exceeds rupees 10,000 but is less than rupees 10,00,000; and. (c) when authorizing one person or more to act in a single transaction other than the case mentioned in clause (a); (d) when authorizing one person to act in more than one transaction or generally; (e) when authorizing more than one person to act in single transaction or more than one transaction jointly or severally or generally; (f) (i) when given for consideration and authorizing to sell an immovable 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 the market value of the property. Seal of the office. TRANSFER (whether with or without consideration). Insection 52A of the principalAct, (a) in sub-section (1), for the words one lakh the words five lakhs shall be substituted; (b) in sub-section (2), for the words ten lakhs at both the places where they occur, the words twenty lakhs shall be substituted. 44 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.