All agreements for leave and license must be stamped and registered. Provided that, if the property is gifted to a family member being the husband, wife, brother or sister of the donor or any lineal ascendant or descendant of the donor, then the amount of duty chargeable shall be at the rate of 3 per cent on the market value of the property which is the subject matter of the gift, Provided further that ,if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson and grand-daughter, the amount of duty chargeable shall be Rs.200. B. function MSFPpreload(img) 100. (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. The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 90 % of the market value of the property. 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. The recent notification of the Maharashtra government to abolish stamp duty on gifts between relatives (Referring to the Maharashtra Stamp Act Amendment Bill 20/2015). 1 Revenue stamp. Seal of the office. (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 ; . (a) if the amount agreed does not exceed Rs. state of Maharashtra under Article 25(da) of Schedule I to the Maharashtra Stamp Act, was INR 250 million. COMPOSTION DEED, that is to say, any instrument executed by a debtor whereby he conveys his property for the benefit of his creditors or whereby payment of a composition or dividend on their debts is secured to the creditors, or whereby provision is made for the continuance of the debtor's business under the supervision of inspectors or under letters of license for the benefit of his creditors. 0.2% on share capital or increased share capital ,as the case may be subject to a maximum of Rs. Insection 39of the principal Act, in sub-section (1), in sub-clause (b), in the first proviso, for the word double the words four times shall be substituted. 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. 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. Particulars: Erstwhile stamp duty: Amended stamp duty: Remarks: Mortgage by deposit of title deeds under article 6(1) of schedule I: If amount secured by the deed is more than 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. 3. through the stock exchanges or clearing corporations authorized by the stock exchange or by the depositories) on one instrument, In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). See also Letter of Allotment of Shares (Article 37); Explanation. bodies or local authorities e.g. The amount of Stamp Duty payable depends on type of instruments. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. Stamp Paper- The stamp charge must be executed on non-judicial stamp papers and is paid directly to the registered authority. 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. 3. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. endobj
The Stamp Duty in Maharashtra (areas other than Mumbai) was reduced by 2 per cent from September 1, 2020 to December 31, 2020 and by 1.5 per cent from January 1, 2021 to March 31, 2021. <>
The Act is a fiscal measure enacted to secure revenue for the State from certain classes of instruments. (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-. 3 0 obj
Step 2: Click 'Pay Without Registration' if you are not registered with the portal. 1% of the amount of share contribution subject to maximum of Rs.15,000. (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. Controller of Stamps, Mumbai. These words were substituted for the words "One rupee for every rupee, one hundred or part thereof" The Maharashtra Stamp (Amendment)Act, 2015, s. 20(1)(B), (w.e.f. Stamp duty is usually paid for transactional documents such as property transactions, etc. Explanation. 10. endobj
ARTICLE 36A LEAVE AND LICENSE AGREEMENT. . The concession is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Pimpri Chinchwad. The Maharashtra government opted not to extend the waiver on stamp duty and registration expenses in Maharashtra beyond March 31, 2021, after announcing a rate drop in August 2020. 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. (iii) for a period exceeding 10 years but not exceeding 29 years, with a renewal clause contingent or otherwise. 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. 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. Conversion of amount expressed in foreign . 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. Enter the details and pay the duty through your Internet banking account. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper Rule 10(ii). (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. 100/- and fractions of less than Rs. (b) where there is no disposition of property, --. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. LETTER OF GUARANTEE,SeeAgreement (Article 5). // -->