Stamp Duty in Mumbai Based on Area Type. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. You have to pay a stamp duty while registering the rent agreement, which will vary, depending on the city where it is registered. You can register as user on the portal and can avail services such as the registration for importer, goods, agent, transporter etc. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. it changes every April. 9.10 Section 38of the principal Act shall be deleted. Of all the charges, stamp duty is the major component. Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. 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 cases of Bonds, Release, Settlement, it is to be paid by the person making or drawing the instrument. If the property is sold by Govt. The Reckoner divides the immovable property into various categories such as land, residential units, industrial units/office, shops, etc., and fixes their market value accordingly. The acceptance of on-line payment of Maharashtra State's Taxes through the internet portals of various banks have been developed, without having any implication on the existing procedure of the executive and accounting agencies of the Department. 10B. To login, select "Stamp Duty" and Login as "Individual User" or "Business User". 9.11 Deficient portion of stamp duty : amount of maximum penalty increased. What is stamp duty on gift deed in Mumbai?. if(MSFPhover) { MSFPnav4n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav4h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } Advise on stamp duty applicability and ensuring compliance of Stamp Act. . 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. You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. However, the heading Other Stamp Duty covers electronic share trading (CREST), Stamp Duty on financial cards and Stamp Duty levies. All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. 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 . No. if(MSFPhover) { MSFPnav7n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav7h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } (da) if relating to the order of the High Court under section 394 of the Companies Act, 1956 or the order of the National Company Law Tribunal under sections 230 to 234 of the Companies Acts, 2013 or confirmation issued by the Central Government under sub-section (3) of section 233 of the Companies Acts 2013 in respect of the amalgamation, merger, demerger, arrangement or reconstruction of companies (including subsidiaries of parent company) or order of the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies. If u like my solution then give THANKS on my profile. Vide Notification No. 0.3% of the amount secured by such deed subject to maximum of Rs. 25-3-2013: As per amended Section 17 of Registration Act, 1908 registration of: Irrevocable Power of Attorney relating to transfer of immovable property in any way, executed on or after 1-4-2013. See also Certificate or other Document (Article 17). then value declared by these departments in notice is treated as final market value. Steps for Section 8 Company Registration in Mumbai. (v) assignment of copyright under Copyright Act, 1957, -, (vi) project under Built, Operate and Transfer (BOT) system, whether with or without toll or free collection rights,-. For all properties with a market value below Rs.30 Lakh, the registration charges are set at a static Rs.30,000. The Maharashtra Stamp (Second Amendment) Act, 2017 have increased the percentage of stamp duty in certain cases under Article 25 and Article 34 of Schedule I to the Maharashtra Stamp Act, 1958. according to the share capital of the company ,subject to minimum of Rs.1,000 and maximum of Rs.50,00,000. (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. Rate of Stamp Duty will be 0.005 % of the market value both for shares and debentures. if(MSFPhover) { MSFPnav8n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav8h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } Revocation of -- of, or concerning, any property when made by any instrument other than a Will. In the absence of any such agreement, the Act provides that in the case of a Conveyance, duty is to be paid by a buyer and by the lessee in case of a lease. Insection 34of the principal Act, in the proviso, in clause (a), in sub-clause (ii), in the proviso, for the word double the words four times shall be substituted. See 1970 License Agreement, para. 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. The authenticity of the Stamp Certificate can be verified at Authorised Collection Centers (ACCs), SHCIL Offices and Sub-registrar Offices (SROs). One such factor is the location or area of the property. ], A. By Order dated 1st March 2019, the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. as mentioned in sub-section (1) as a proper officer for defacing the challan and making the endorsement on such instruments. The Union Government notified Part I of Chapter IV of the Finance Act, 2019 and promulgated the Indian Stamp (Collection of Stamp- Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019.The Amendment seeks to: address the stamp duty regime recognising the technological changes in the field of financial securities, which today are primarily, done electronically through the stock exchange or through authorized clearing corporations and the depositories; and, provide for a centralized collection mechanism under which the stamp duty is to be collected at one place by one agency (i.e. Stamp Paper: The rent agreement must be executed on non-judicial stamp paper of the correct value as per the applicable stamp duty laws. In all other cases, it is to be paid by the person executing the instrument. 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. To use this stamp duty calculator, follow this simple step: Step 1: Visit the stamp duty online calculator page. A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. This tax is applicable to various types of papers, including property sale agreements, leave and license agreements, gift deeds, and mortgage deeds. Controller of Stamps, Mumbai. (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. (c) for the sole purpose of enabling any person to receive any pension or charitable allowance. 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,-. // -->