100. 200 or an amount equal to 5% of the amount of consideration ,whichever is higher. Articles of any association not formed for profit and registered under section 25 of the Companies Act, 1956 See also Memorandum of Association of a Company (Article 39). Step 1: Login to the Maharashtra Stamp Duty Online Payment portal, i.e., https://gras.mahakosh.gov.in/igr/frmIndex.php GRAS Window for Online Payment of Stamp Duty in Maharashtra Step 2: Click on the 'Pay Without Registration' tab on the homepage. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. Mundrak. 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. The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. Any officer not below the rank of Collector having sufficient reason to believe that, it is necessary to inspect or call for any registers, books, records including a diskette, magnetic cartridge tape, CD-ROM or any other computer readable media or any electronic record mentioned under clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000, papers, documents, instruments or proceedings which may lead to the discovery of any fraud or omission in relation to any duty, shall, at all reasonable times may himself or through any officer authorised by him in this behalf, who shall be not below the rank of Gazetted GroupB officer or Sub-Registrar, Grade-I appointed under the Registration Act, 1908 or Inspector of Stamps, enter in any premises and inspect the same in the custody of any person, office, firm or any other entity and take such notes and extracts as he may deem necessary, without payment of any fee or charge, and if necessary, seize and impound only the chargeable documents as per the provisions of section 33 . 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-. (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. 100 or an amount equal to 5% of the amount of consideration, whichever is higher, (iii) any Municipal Corporations other than those Municipal Corporations mentioned in columns (i) and (ii)--, Rs. However, upon delving deeper into the property registrations data, it was found that, only 7 per cent of these registrations were . Maximum 400%. Arunachal Pradesh. Seal of the office. Drafted and reviewed various agreements such as Producer, Line Producer, Director, Artist, Music Producer, Endorsement, Service, In-Film Branding Agreements. 478 of 2022 ('Tata Autocomp') granted interim relief by directing Maharashtra Government to refrain from levying Stamp Duty under Article 29 (Article 24 in Bombay Stamp Act, 1958) of Schedule I of the Maharashtra Stamp Act, 1958 ('Stamp Act') on Bill of Entry ('BOE . If on adjustment, no duty is required to be paid then a minimum duty for the conveyance shall be Rs. 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. Circular w.e.f. 100/- any fraction of Rs. VALUATION, See Appraisement (Article 8). Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. See also Letter of Allotment of Shares (Article 37); Explanation. 1000 and maximum of Rs.50,00,000. 1stApril, 2021. With an intent to bring uniformity in rates of . On the execution of the Lease Deed, on 10th June, 2020, the Petitioner paid an amount of Rs.100,75,10,400/- towards the stamp duty under Article 36(iv) read with Article 25(b) of Schedule I and Section 2(na) of the Stamp Act. 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. In case of instruments which are based upon Market Value of the property which is the subject matter of an instrument, means the price which such property would have fetched if sold in open market on date of execution of such instrument or consideration stated in the instrument whichever is higher and needs to be paid in full and in time. 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 last day to apply for Amnesty Scheme was 31st December 2019. If amount secured by the deed is more than Rs. Stamp Duty is a statutory payment like Goods and Services Tax which needs to be paid on all instruments chargeable to duty. . Conversion of amount expressed in foreign . The existing ceiling of stamp duty payable on an agreement relating to deposit of title deeds, pawn, pledge or hypothecation where the amount secured exceeds Rs.5 lakhs stamp duty has been amended to 0.3% of the amount secured subject to a maximum of Rs. 100/- and fractions of less than Rs. Maharashtra. Bill rsuance of clause (3) of artic Maharasht the followi and 3TI' G 12009/35528 It does not include the instrument or document/s executed between the original purchaser from the project Proponent/s and the subsequent purchaser of a residential unit located in the said area. stream 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. W.e.f. 0.5% of the consideration amount of the debenture. Indian Stamp Act, 1899 Amendments and Rules made thereunder. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. Governor ot IVI aharasl the 2nd March 2021, is le Maharashtra Stamp (Amen No. After announcing a stamp duty in Maharashtra rate cut in August 2020, the Maharashtra government decided not to extend waiver on Stamp duty and registration charges in Maharashtra beyond March 31, 2021. Stamp duty is usually paid for transactional documents such as property transactions, etc. (i) where the trust is made for a religious or charitable purpose. BOMBAY STAMP ACT, INDIAN STAMP ACT & REGISTRATION ACT. Insection 48of the principal Act, in sub-section (1), for the proviso, the following proviso shall be substituted, namely : Provided that, where an agreement to sale of immovable property on which stamp duty is paid under Article 25 of the SCHEDULE I, is registered under the provisions of the Registration Act, 1908 and thereafter such agreement is cancelled by a registered cancellation deed for whatsoever reasons before taking the possession of the property which is the subject matter of such agreement, within a period of five years from the date of execution of the agreement to sale, then the application for relief may be made within a period of six months from the date of registration of cancellation deed.. Also read: Stamp duty on property registration in Gujarat Stamp duty in Mumbai 2023 The two leading decisions on this definition are those of the Supreme Court in the case of. 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. 19 May, 2017, 10.37 AM IST. Both the parties shall put in writing the terms of the agreement on the document or in case of a gift deed, the property that is being gifted and get it signed. Signature of the Officer. 1 Revenue stamp. bodies or local authorities e.g. 0.3% of the amount secured by such deed subject to maximum of Rs. 31.03.2020 that the Company had committed default in payment of instrument deed . - CA VIMAL PUNMIYA STAMP DUTY INTRODUCTION: thThe Bombay Stamp Act, 1958 came into force on 16 Feb, 1959 and is applicable in the State of Maharashtra. Explanation- for the purpose of this clause, the principal or primary security shall mean, the security created under clause (a) or (b) above. The Ministry of Finance ("Ministry") has appointed January 09, 2020 as the day on which these proposed amendments shall come into force. The new rate after the reduction was 2% (from earlier 5%) and applied from 1st September to 31st December 2020. However, as a general matter we believe the changes will achieve uniformity and affordability. (3) The Occupancy Certificate must be granted by the concerned Planning Authority. The Maharashtra Stamp Act and Stamp Duty in Mumbai. ACT LX OF 1958) (Modified up to the 03 Jun 2022) 1958:Bom.LA] THE MAHARASHTRA STAMP ACT. B. See also Certificate or other Document (Article 17). While the amendments to Stamp Act were initially scheduled to come into force on 9 January 2020, however, the Ministry of Finance postponed the effective date of the amendments to 1 July 2020. if(MSFPhover) { MSFPnav1n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav1h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } In Case Duty Exceeding Re. 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. 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. 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. 5 (h) impressed stamp under Rule 6, ARTICLE 6 AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, that is to say, any instrument evidencing an agreement relating to--. 1 0 obj 50/- shall be rounded of to the next Rs. Act to be translated and sold cheaply 43 76. Explanation I.-For the purposes of this article, where in the case of agreement to sell an immovable property, the possession of any immovable property is transferred or agreed to be transferred to the purchaser before the execution, or at the time of execution, or after the execution of, such agreement [* * *] then such agreement to sell shall be deemed to be a conveyance and stamp duty thereon shall be leviable accordingly: Provided that, the provisions of Section 32A shall applymutatis mutandisto such agreement which is deemed to be a conveyance as aforesaid, as they apply to a conveyance under that section: Provided further that, where subsequently a conveyance is executed in pursuance of such agreement of sale, the stamp duty, if any, already paid and recovered on the agreement of sale which is deemed to be a conveyance, shall be adjusted towards the total duty leviable on the conveyance. These amendments were first proposed under the Finance Act of 2019 and the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019 (Rules). As per the Maharashtra Stamp Act, the stamp duty rates are as follows - Conveyance . (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. The Indian Stamp (Assam Amendment) Act, 2013. (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). Bihar. (i) within the limits of any Municipal Corporation or any Cantonment area annexed to it or any urban area not mentioned in sub clause (ii). 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. 1. These amendments were first proposed under the Finance Act of 2019 and the Indian Stamp. Explanation I. The instruments or the documents have to be read as they are i.e. endobj Explanation for the purposes of this Article, not withstanding anything contained herein above, the highest duty on either of the property exchanged shall be chargeable. STAMPS TO BE USED -- Non-Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper Rule 10 (ii). Explanation. 43 SCHEDULE-I. endobj (c) if relating to both movable and immovable property. The Central Government through the Finance Act, 2019 ('Finance Act') has introduced various amendments to the Indian Stamp Act, 1899 ('Stamp Act'). Maharashtra government slashes stamp duty to 2% until Dec 2020 to boost demand The reduced cost of the stamp duty is bound to encourage first time homebuyers, fence sitters as well as. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper Rule 10(ii). (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. However, an instrument can be registered within additional 4 months by paying penalty which is equivalent to 2.5 times per month or part thereof subject to maximum 10 times. (a) if the amount agreed does not exceed Rs. Instruments which are not covered under the above Act are either chargeable under Indian Stamp Act, 1899 (e.g. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. 100. 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. * The amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. ], 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. Exemptions Affidavit or declaration in writing when made --. (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. The Act is intended to levy stamp duty on certain types of documents executed in the state or brought from outside for -- A mortgagor who gives to mortgagee a power of attorney to collect rents, or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article. Aftersection 67of principal Act, the following section shall be inserted, namely : 67A. 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.. In Vastu, placing an outdoor water fountain in the east or northeast direction is ideal. 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. 4 0 obj 50,00,000. 9.15 Mandatory provision for furnishing information called by CCRA or any authorized Officer. (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. (ii) an amount equal to 0.7%, of the aggregate of the market value of the shares issued or allotted to the Resulting Company and the amount of consideration paid, for such demerger, whichever is higher: Exemption: Assignment of copyright under the Copyright Act, 1957 (IXV of 1957). Declaration of -- of, or concerning, any property when made by any writing not being a Will,--, (a) where there is disposition of property, --. 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. 10.1 Deletion of requirement to round off duty amount. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Special Adhesive Stamp affixed by Proper Officer under Rule 11. On 11th May 2020, the Maharashtra government has lost Rs 3885 crore in stamp duty in 40 days of lockdown. (a) in sub-section (1),- (i) after the word sale, the word lease, shall be inserted ; (ii) after the words development agreement, where it occurs for the second time, the word lease, shall be inserted ; (b) in the marginal note, after the word sale, the word lease, shall be inserted. Explanation(1) For the purposes of this Order, unit means, a residential unit. 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. The expression co-owners includes all kinds of, Immovable Property includes land, benefits to arise out of land and things attached to the earth or permanently fastened to anything attached to the earth. ARTICLE 36A LEAVE AND LICENSE AGREEMENT. LX of 1958), the Government of Maharashtra, having satisfied that it is necessary to do so in the public interest, hereby reduces, with effect from the 1st August, 1994, the maximum duty chargeable on Articles of Association of a Company under Article 10 of Schedule I of the said Act, to Rs. 5 lakhs, rate of stamp duty is 0.3% of the secured amount.. Rate of stamp duty has been increased from 0.2% . Let us understand how the above fall in Stamp Duty in Maharashtra has affected the cost of property for homebuyers. 10. The state government announced stamp duty reduction on lease agreements on 24th December 2020. In exercise of the powers conferred by Article 213 (1) of the Constitution of India, the Governor of Maharashtra promulgated the Maharashtra Stamp (Amendment and Validation) Ordinance, 2021 (" Ordinance ") on February 09, 2021, which shall come into force with effect from February 09, 2021. 4. XX of 2015 dated 24 th April, 2015. RECORD OF TRANSACTION (Electronics or otherwise) effected by a trading member through a stock exchange or the association referred to in Section 10 B-, (a) if relating to sale and purchase of Government securities, Rs.50 for every 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. It is printed on secure stationery issued by banks. The Maharashtra government is all set to hike stamp duty on house registration by 1 per cent from the next financial year. LX (C) Of the time of stamping Instruments 17. 44 See also Settlement (Article 55). 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. Immovable property land, house or flat can now be transferred to one's children or blood relatives without paying stamp duty for registration. The same duty as is leviable on a conveyance under clause (a), (b) or (c), as the case may be, of article 25 on 25 % of the market value of the property. according to the share capital of the company ,subject to minimum of Rs.1,000 and maximum of Rs.50,00,000. (b) where there is no disposition of property, --. Maharashtra Stamp (Amendment) Act, 2017 (47 of 2017) Amended by Maharashtra Act No. 100/- shall be charged. (3) It shall be the duty of the proper officer so authorized under sub-section (2) to make an endorsement on the instruments after defacing the challan, as follows : Stamp duty of Rs. ; (ii) in sub-clause (iii), in column 2 , for the figure and words 3 per cent. the figure and words 4 per cent. Shall be substituted. HIRING AGREEMENT or agreement for service, see Agreement (Article 5). It amends section 5, article 6 and article 40 of schedule I of the Maharashtra Stamp Act, 1958, and has been released in addition to the circular issued by the Office of the Inspector . As per Maharashtra Stamp Act, all instruments are chargeable with Maharashtra stamp duty. LETTER OF GUARANTEE,SeeAgreement (Article 5). GST regulations, Company secretary standards, Stamp duty, contract act, etc. 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. if(MSFPhover) { MSFPnav2n=MSFPpreload("../_derived/home_cmp_Profile110_home.gif"); MSFPnav2h=MSFPpreload("../_derived/home_cmp_Profile110_home_a.gif"); } As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. File Photo LONDON: British house prices last month dropped by the most in more than 10 years, mortgage lender Nationwide said on Wednesday, adding to signs of a slowdown in the housing market in the face of high inflation and rising borrowing costs. 3,q~KQLa5})lDUau2Pyq?P|#K:G::w;9,8izk+x5o/y% hn;p#glsf VK>KJU|p7y6#&Q oFa#K/ Explanation I. ((navigator.appName == "Microsoft Internet Explorer") && Sep 2021 - Oct 20212 months. (c) where such share contribution is brought in by way of property, excluding cash. ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.2 842.4] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> As per Article 53 of Indian Stamp Act, 1899, RECEIPT for any money or other property the amount or value of which exceeds Rs. for Art. . Or, 0.7% of the aggregate of the market value of share allotment. (i) If relating to giving authority or power to a promoter or a developer by whatever name called, for construction on, development of or, sale or transfer (in any manner whatsoever) of, any immovable property. Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. (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. 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. Provided also that where proper stamp duty is paid on a registered agreement to sell an immovable property, treating it as a deemed conveyance and subsequently a conveyance deed is executed without any modification then such a conveyance shall be treated as other instrument under section 4 and the duty of Rs. As per Section 2(23A) of Indian Stamp Act, the term "securities" shall include securities as per Section 2(h) of Securities Contracts (Regulation) Act, 1956 , i.e. Explanation I. EXCISE BOND, See Customs Bond or Excise Bond (Article 28). Further it has to be paid on time to avoid penalty. It had reduced stamp duty to 2% from 5% within 1st September 2020 to 31st December 2020, to boost real estate demand in Pune. 0.1 % of the amount agreed in the contract subject to minimum of Rs.100. 20 lakhs. The 1.1% fall was the biggest year-on-year drop since November 2012 and also the first annual decrease since June 2020, early in the coronavirus . : detection of frauds under Information Technology Act. TRANSFER (whether with or without consideration). 10,00,000. It cannot be in the name of the Consultants, Solicitors, Chartered Accountant or Lawyer of the parties. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). (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 ; . 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. Revocation of -- of, or concerning, any property when made by any instrument other than a Will. Provided further that, when proper stamp duty is paid under clause (g- a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be Rs. AFFIDAVIT, that is to say, a statement in writing purporting to be a statement of facts, signed by the person making it and confirmed by him on oath or, in the case of persons by law allowed to affirm or declare instead of swearing, by affirmation. every order made by the High Court u/s. 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. . 0.5 % of the amount agreed in the contract. GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59). 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. 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. There are a host of legal formalities involved. STAMPS TO BE USED -- Adhesive Stamp (Section 11). Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. The Maharashtra Stamp (Amendment and Validation) Ordinance has clarified the courts' stance that instruments which cover two or more distinct transactions - that cannot blend into one and be. (b) when possession is not given or agreed to be given as aforesaid. You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. After April 2020, stamp duty collection in Maharashtra experienced many ups and downs. No. 9.2 Several instruments used in a single transaction: Development Agreement, Sale and new instrument (Lease) included along with mortgage or settlement. The Amended Stamp Act clarifies that no stamp duty shall be charged on any instrument (other than the principal instrument) on a single transaction. 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. 5,00,000; Explanation No duty shall be chargeable on agreements or its record covered under sub-clauses (b) and (c ) of this article, if proper duty is paid under Article 51 A, Agreement or its records or Memorandum of Agreement--. For the purpose of this article, the market value, for the instruments falling under section 2 (n) (iii) (Toll Agreements) and article 5 (g-e) (Hire Purchase agreement), shall be the total contract value and they shall be chargeable to duty same as under clause (a) of article 25.
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