Stamp Duty in Mumbai Based on Area Type. 100/- equal to or exceeding Rs. 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.. It is pretty much similar to what a government collects for sales tax and income tax. 50/- shall be disregarded. as they are worded or drafted. (2) Letter of hypothecation accompanying a bill of exchange, ARTICLE 10 ARTICLES OF ASSOCIATION OF A COMPANY. It is basically a levy on any transaction based on exchange of documents or execution of instruments. 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). Cancellation of adhesive stamps 17 13. Explanation III.(i) For the purposes of clause (da) the market value of shares,--, (a) in relation to the transferee company, whose shares are listed and quoted for trading on a stock exchange, means the market value of shares as on the appointed day mentioned in the Scheme of Amalgamation or when appointed day is not so fixed, the date of order of the High Court; and, (b) in relation to the transferee company, whose shares are not listed/or listed but not quoted for trading on a stock exchange, means the market value of the shares issued or allotted with reference to the market value of the shares of the transferor company or as determined by the Collector after giving the transferee company an opportunity of being heard. (2) The Master Layout Plan or subsequent building plan of an approved project under the Pradhan Mantri Awas Yojana- Housing for All (Urban) must be sanctioned or approved by the Planning Authority. 20,00,000/-. 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. Recently Maharashtra Government has allowed online registration of first sale agreement of developers approved by the Stamp duty and Registration Authorities. For license agreemnt there is stamp duty & registration charges it is calculated as Total rent+ Deposit X 0.025. Stamp duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on sale, mortgage and gift deed details will attract a 1% metro cess from April 1, 2022 as these places have metro projects -operational or work under progress. Works Contract, that is to say, a contract for works and labour or services involving transfer of property in goods (whether as goods or in some other form) in its execution and includes a sub contract,-. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. (2) Any such individual, institution, organization, company or a body responsible to furnish the information under sub-section (1) fails to furnish the same within the specified time, the Chief Controlling Revenue Authority or any other officer authorised by him in this behalf, direct such defaulter to pay by way of penalty, a sum not less than rupees five hundred but which may extend to rupees ten thousand for each failure.. 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 . (ii) conferring exclusive rights of telecasting, broadcasting or exhibition of an event or a film, -, (iii) specific performance by any person or a group of persons where the value of contract exceeds rupees 1,00,000,-, (iv) creation of any obligation, right or interest and having monetary value, but not covered under any other article, -. function MSFPpreload(img) (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. e-Registration of Leave and License Agreement. Such instruments can be admissible in evidence on payment of the requisite amount of duty and a penalty @ 2% per month on the deficient amount of duty calculated from the date of execution. MHADA, CIDCO, BPT, MC, MIDC etc., or Income Tax Dept. You can register as user on the portal and can avail services such as the registration for importer, goods, agent, transporter etc. This agreement is similar to a lease agreement . If MOA is not accompanied by AOA, then Stamp duty on MOA will be 0.2% according to the share capital subject to minimum of Rs. Stamp Duty Rates for Leave & Licence Agreement Calculate NOTE: Calculation is for a period of 12 months, irrespective of period of leave & licence, and includes any advance rent paid or to be paid and further includes any deposit made or to be made, with or without any interest. Check all needed legal documents, Payments, Charges, Property Registration, Rates & its Calculation procedure. By Notification dated 8th February 2019, the Government of Maharashtra has introduced levy of additional stamp duty for instruments of sale, gift and usufructuary mortgage, in the form of Metro Cess. 1. Factoring Agreement. Important Timeline of Maharashtra State. 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. A Leave and Licence Agreement is also known as a Rent Agreement. 2. Stamp duty is payable at rates mentioned in Schedule - I of The Maharashtra Stamp Act. Stamp Duty is payable in full and is to be paid on the deadline. // --> . Of all the charges, stamp duty is the major component. 9.17 Punishment for prevention or obstruction to entry of Officer exercising powers u/s. *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. The same duty as a conveyance under clause (a), (b), or (c), as the case may be, of Article 25, for a sum equal to the amount settled or the market value of the property settled. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. Stamp Duty to be paid on the market value of the shares and debentures. Provided that in case of instrument executed by consortium of banks, the duty chargeable shall not exceed 50 lakhs. // -->