See also Settlement (Article 55). 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. To use this stamp duty calculator, follow this simple step: Step 1: Visit the stamp duty online calculator page. // -->. No. Stamp duty is a duty payable upon the execution of certain instruments or documents specified in the Indian Stamp Act, 1899 ("IS Act") or the relevant state Stamp Act as the case maybe. (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. 1stApril, 2021. 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. Earlier it was charged under article 25(b) which amounted to 5% on Market Value of the premises. 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. Rate of Stamp Duty will be 0.005 % of the market value both for shares and debentures. (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. (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 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. By Notification dated 28th March 2020, the Government of Maharashtra had announced a concession in Stamp Duty rate @ 1% for 2 years with effect from 1st April 2020. 50/- shall be rounded of to the next Rs. In case of exchange, it is to be paid by the parties in equal shares and in case of partition, by the parties in proportion to their respective 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. 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,-. Controller of Stamps ,Mumbai/Designated Officers. In Mumbai, three per cent of prevailing ready reckoner rates has to be paid as stamp duty on gift deeds. 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. (A) for the purpose of non-residential use of any nature whatsoever; Rs. 4. 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. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. (parseInt(navigator.appVersion) >= 3 )) || Of all the charges, stamp duty is the major component. The law on stamping and registration. Such impounded instruments must be sent to the Collector who would then determine the amount of duty and penalty, if any, payable on the same. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. (a) Where the leave and license agreement purports to be for a term not exceeding 60 months with or without renewal clause. 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. 0.2% on share capital or increased share capital ,as the case may be subject to a maximum of Rs. Stamp Duty to be paid on the market value of the shares and debentures. (g) when given to a promoter or developer by whatever name called, for construction on, development of, or sale or transfer (in any manner whatsoever) of, any immovable property. 4.5 The stamp papers must be in the name of one of the parties to the transaction. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state . B. 68. 0.2%. Revocation of -- of, or concerning, any property when made by any instrument other than a Will. A Leave and Licence Agreement is also known as a Rent Agreement. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. 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. (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. (ii) when authorizing to sell or transfer immovable property without consideration or without showing any consideration, as the case may be, -, (a) If given to the father, mother, brother, sister, wife, husband, daughter, son, grandson, granddaughter or father, mother, brother or sister of the spouse; and. See Kelson Cos., Inc. v. Feingold, 309 S.E.2d 394, 396 (Ga.Ct.App. 2.2 The stamp papers must be in the name of one of the parties to the transaction. Duty can be paid by way of adhesive or impressed stamps or e-franking on the instruments and duly stamped documents are only admitted as evidence in court. 100/-. Rs.500 plus 0.1 % of the amount above Rs.10,00,000 subject to maximum of Rs.25,00,000. Stamp duty must be paid by affixing non-judicial stamps to the document. 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. Users can also verify the receipt of payment. 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 . Note.--The largest share remaining after the property is partitioned (or, if there are two or more shares of equal value and not smaller than any of the other shares, then one such equal shares) shall be deemed to be that from which the other shares are separated. 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. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). e-Registration of Leave and License Agreement. 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.) B If the agreement claims to be for a period of more t After obtaining the Incorporation Certificate, the LLP agreement, duly signed by the partners of the LLP, must be filed within 30 days. The same duty as is payable under clauses (a) and (b). // -->. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. Stamp Duty charges vary from one state to another and may depend on gender, municipal areas or income groups within the state too. (i) where the Trust is made for a religious or charitable purpose; 2% of a sum equal to the amount settled or market value of the property settled. Stamp duty is a levy payable on instruments specified by statute on a fixed or on ad valorem basis. Would this fall under Article 5(h) (A) (iv) or Article 5(h)(B) since there is a huge difference in the stamp duty levied in both the cases. TRANSFER (whether with or without consideration). 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. 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. 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. Exemptions Affidavit or declaration in writing when made --. Vide Notification No. (5) No refund shall be granted where stamp duty has already been paid by any project proponent or the Purchaser of any unit prior to the date of publication of this Order in the Maharashtra Government Gazette. Select the option based on your requirement, such as "Sales Deed" and "Agreement to sale". 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. 50 or an amount equal to 5% of the amount of consideration ,whichever is higher, (2) having area more than 27.88 squares meters (300 square feet), (i) any advertisement on mass media, made for promotion of any product; or programme or event with an intention to make profits or business out it,-. Maximum 400%. EXCISE BOND, See Customs Bond or Excise Bond (Article 28). By Order dated 1st March 2019, the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. 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 . The instruments specified in the Schedule-I to the Act are covered by this Act. Any party to an instrument can also. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. if(MSFPhover) { MSFPnav1n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav1h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. 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. 100/- need to be paid as stamp Duty for Gujarat Property Registration. Similarly, Stamp Duty under above Article in rest of Maharashtra State was reduced by Two percent (2%) for the period starting from 1st September, 2020 and ending on 31st December, 2020 and by One Half percent (1.5%) for the period starting from 1st January, 2021 and ending on 31st March, 2021. does not require adjudication & can be registered directly by payment of proper Stamp Duty. [Title] So we have rented a flat in Mumbai, the owners include me, my mom and my sister. The authenticity of the Stamp Certificate can be verified at Authorised Collection Centers (ACCs), SHCIL Offices and Sub-registrar Offices (SROs). 200 or an amount equal to 5% of the amount of consideration ,whichever is higher. 5,000 Plus renewal fee applicable under entry 3. (b) where there is no disposition of property, --. The same charges apply if you purchase a resale flat in Mumbai. 9.16 Designated Revenue Officers empowered to call for all Registers and relevant Books of Transactions in respect of payment of stamp duty: Including diskette, magnetic cartridge tape, CD-ROM etc. According to the Maharashtra Stamp Act, each document require stamp with proper stamp duty and with the proper mode. 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. 0.5% of the consideration amount of the debenture. (1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884), or by their sureties as security for the repayments of such advances. ; (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. The instruments or the documents have to be read as they are i.e. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. MHADA, CIDCO, BPT, MC, MIDC etc., or Income Tax Dept. (2) For the purposes of this Order, the first instrument of transaction means, the first document executed between the project Proponent/s and the Purchaser (hereinafter referred to as the original purchaser) in respect of residential unit located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing For All (Urban) Project area (hereinafter referred to as the said area). The two leading decisions on this definition are those of the Supreme Court in the case of. What is Stamp Duty? 5,00,000; 0.1% of the amount secured by such deed subject to the minimum of Rs. 4.90 for every Rs. An application to register the title of a person who becomes entitled by assignment is made on Form TM-P. The Ready Reckoner is also available online on the IGR website. In Maharashtra the Ready Reckoner changes every financial year i.e. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. Cancellation of adhesive stamps 17 13. Explanation II-- Where in the case of an agreement to mortgage the amount or part thereof sought to be secured by such an agreement is advanced or disbursed to the mortgagor or without execution of a mortgage deed, then such an agreement to mortgage shall, notwithstanding anything contained in clause (d) of section 2, become chargeable under this Article as mortgage-deed on the date of making of such advance or disbursement either in part or in whole. 50,00,000. - For the purposes of this Article, return of money paid as advance, on security deposit by lessee to the lessor shall not be treated as consideration for the surrender. 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-. Patents The Patents Act does not contain any restrictions on the assignment of a licence. Aftersection 68of the principal Act, the following section shall be inserted, namely : 68A. 2. What is stamp duty on gift deed in Mumbai?. 9.10 Section 38of the principal Act shall be deleted. 10,00,000. (a) where the amount or value set forth in such contract does not exceed Rs. (a) as a condition of enrolment under the Air Force Act, 1950, (XLV of 1950) the Army Act, 1950 (XLVI of 1950) or the Navy Act, 1957 (LXII of 1957); (b) for the immediate purposes of being filed or used in any Court or before the officer of any Court; or. Our current leave and license agreement period is coming to an end in April start and inorder to sign a new agreement we all 3 need to be here but my sister is flying to another country for a few months in march so we decided on making a new agreement and signing and registering it with stamp duty in march . Design transfer agreement and 3. 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. Instrument of gift has been defined to include, where the gift is of any movable or immovable property but has not been made in writing, any instrument recording whether by way of declaration or otherwise the making or acceptance of such oral gift. Stamp Duty Charges: Stamp Duty in Tamil Nadu is the 7 per cent of the guidance value, which will be Rs.3,50,000 for this property. In Case Duty Exceeding Re. --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. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. 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.. 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. 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.. Stamp Duty is a statutory payment like Goods and Services Tax which needs to be paid on all instruments chargeable to duty. 5; (b) where the instrument relates to the partition of agricultural land, the rate of duty applicable shall be Rs. (a) of debentures, being marketable securities whether the debenture is liable to duty or not, except debentures provided for by section 8 of the Indian Stamp Act, 1899. (i) If the amount secured by such deed does not exceed Rs.5,00,000, 0.1% of the amount secured by such deed , subject to minimum of Rs.100, 0.3% of the amount secured by such deed , subject to maximum of twenty lakh rupees. You can get the eSBTR on giving a printout of proof of payment online at nominated branches of the bank. 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. according to the share capital of the company ,subject to minimum of Rs.1,000 and maximum of Rs.50,00,000.