Stamp duty - Know about Stamp duty and Act in India. Stamp duty is levied on transactions involving residential property, commercial property and freehold or leasehold properties. W.e.f. Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. 10. To use this stamp duty calculator, follow this simple step: Step 1: Visit the stamp duty online calculator page. 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. The eSBTR is a receipt of duty paid to the government. Now, with the passage of this bill, this one year set-off period has now been extended to three years. ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. 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. 9.11 Deficient portion of stamp duty : amount of maximum penalty increased. To be valid and enforceable, an assignment must: Be in writing. A document which is not stamped, though required to be stamped or is a under stamped, is not by that reason, invalid as between the parties. (c) where a final order for effecting a partition passed by any Revenue Authority or any Civil Court or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and an instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not exceed Rs. Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on, Explanation II. A license can apply to any type of intellectual property - trademark, patent, copyright, design and/or know-how. 5,000, is leviable with Re. The Explanation to the definition provides that any instrument by which one co-owner transfers his property to another co-owner would be deemed to be a conveyance provided that it is not an instrument of partition. In all other cases, it is to be paid by the person executing the instrument. (a) when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents; (b) when required in suits or proceedings under the Presidency Small Cause Courts Act, 1882, (XV of 1882). The Penalty on the instruments mentioned in the Appendix is reduced to ten per cent of total penalty on the deficient portion of the duty. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. B If the agreement claims to be for a period of more t For business users who are e-stamping their documents, you must register for an e-Stamping Account ID via the IRAS e-Stamping portal. 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. As mentioned in this order 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 shall stand reduced to 1% subject to certain conditions, if all the purchasers are female. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. For Land, Flat, Shop, Office and Industrial Unit etc. Explanation.-- For the purposes of this clause, the term 'debenture' includes debenture stock; (b) of any interest secured by bond, mortgage deed or policy of insurance; (c) of any property under section 22 of the Administrators' General Act, 1963; (d) of any trust property without consideration from one trustee to another trustee, or from a trustee to a beneficiary. The new rate after the reduction was 2% (from earlier 5%) and applied from 1st September to 31st December 2020. Explanation I-For the purpose of clause (b),''Securities means the securities as defined in clause (h) of section 2 of the Securities Contract (Regulations) Act 1956. Rate of Stamp Duty will be 0.005 % of the market value both for shares and debentures. 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. as mentioned in sub-section (1) as a proper officer for defacing the challan and making the endorsement on such instruments. 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. The two leading decisions on this definition are those of the Supreme Court in the case of. The upper limit is twenty thousand rupees (rule 20,000/-) and the lowest is rupee five hundred (rule 500/-). 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. 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 :. (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. (parseInt(navigator.appVersion) >= 3 )) || The amount of Stamp Duty payable depends on type of instruments. Individuals, small enterprises, or startups must file with the TM application by paying a fee of 4,500 for e-filing or 5,000 for filing by hand Based on the type of TM applied as per the stamp duty act, one needs to pay 5% stamp duty per TM application or assignment submitted Forms of Identification 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 under Rule l0(ii). 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 such property ,subject to a minimum of Rs. 5 % For properties under the jurisdiction of Municipal Corporation . (1) Instrument of any partnership inclusive of ,Limited Liability Partnership and Joint Venture to run a business ,earn profits and to share profits ,whether in cash or in kind-. (a) where the amount or value set forth in such contract does not exceed Rs. Advise on stamp duty applicability and ensuring compliance of Stamp Act. 1094/2229/CR-450-MI, dated 2nd August, 1994 - In exercise of the powers conferred by clause (a) of section 9 of the Bombay Stamp Act, 1958 (Bom. What was Stamp Duty At The Time Of Agreement Dates 10-12-1985 and 04-07-1980? Any party to an instrument can also. SURRENDER OF LEASE including an agreement for surrender of lease--. ((navigator.appName == "Microsoft Internet Explorer") && 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. Both the Parties of the agreement are also situated in Maharashtra. . 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. As per Article 53 of Indian Stamp Act, 1899, RECEIPT for any money or other property the amount or value of which exceeds Rs. The normal stamp duty to be paid is as per clause 5 (c) of schedule 1-A of the Indian Stamp Act applicable to Delhi i.e. Instrument of partition means any instrument whereby co-owners of any property divide or agree to divide such property in severally and includes: a final order for effecting a partition passed by any revenue authority or any civil court, an award by an arbitration directing a partition, and, when any partition is effected without executing any such instrument, any instrument or instruments signed by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners. 5. 4.6 The date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. Earlier it was charged under article 25(b) which amounted to 5% on Market Value of the premises. Leave and license agreements must be stamped in Maharashtra, with a stamp tax cost of 0.25 percent of the entire rent for the duration. 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. 9.8 Simplication of procedure for filing Appeal before Addl. (1) having area upto 27.88 squares meters (300 square feet); Rs. Important Timeline of Maharashtra State. as they are worded or drafted. then value declared by these departments in notice is treated as final market value. 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. However, the heading Other Stamp Duty covers electronic share trading (CREST), Stamp Duty on financial cards and Stamp Duty levies. 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. No. 2. 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. 5 The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. If the property is sold by Govt. 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