However, the heading Other Stamp Duty covers electronic share trading (CREST), Stamp Duty on financial cards and Stamp Duty levies. 9.15 Mandatory provision for furnishing information called by CCRA or any authorized Officer. Kindly clarify. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. (a) if the amount agreed does not exceed Rs. 5,000 Plus renewal fee applicable under entry 3. 1000 and maximum of Rs.50,00,000. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. Stamp Duty is a statutory payment like Goods and Services Tax which needs to be paid on all instruments chargeable to duty. Stamp duty on mortgage under article 40(b) of schedule I of the Act, when possession is not given or agreed to be given and if the amount secured is less than Rs.5 lakhs then the Stamp Duty shall be 0.1% of the amount secured subject to a minimum of Rs.100. Enter the details and pay the duty through your Internet banking account. Any person can apply to the Collector of Stamps for adjudication of the stamp duty payable on the instrument. Under Section 34 of the Act, any instrument which is inadequately/not stamped, then it shall be inadmissible in evidence for any purpose, e.g., in a Civil Court. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). Check all needed legal documents, Payments, Charges, Property Registration, Rates & its Calculation procedure. then value declared by these departments in notice is treated as final market value. 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. Instrument of partition means any instrument whereby co-owners of any property divide or agree to divide such property in severally and includes: a final order for effecting a partition passed by any revenue authority or any civil court, an award by an arbitration directing a partition, and, when any partition is effected without executing any such instrument, any instrument or instruments signed by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners. 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. The stamp duty on rental agreements consists of a flat charge of 0.25% of the total rent for the time that must be applied to all leave and license agreements. Proof of Title: every order made by the High Court u/s. (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. (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. Controller of Stamps ,Mumbai/Designated Officers. if relating to transfer of tenancy of immovable property, for every square meter of the area of the tenanted property the right of tenancy in which is the subject matter of transfer and situated Within the limits of--, (i) the Municipal Corporation of Greater Bombay--. 100/- and fractions of less than Rs. (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. (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. // --> . In case an instrument is so drafted that it is covered within the ambit of more than one Article under Schedule I, then it shall be taxed by that Article which levies the highest amount of stamp duty. (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 u like my solution then give THANKS on my profile. 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. 1983). Stamp Duty to be paid on the market value of the shares and debentures. STAMPS TO BE USED -- Non-Judicial Stamp Paper (NJ) under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. 2. Using this site anyone like importer, supplier, transporter and agent can pay Octroi tax online to the Municipal Corporation of Greater Mumbai. 1 Revenue stamp. This section deals with Stamp Duty on instruments (written documents). - 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. In all other cases, it is to be paid by the person executing the instrument. (a) of a bill of exchange, cheque or promissory note; (b) of a bill of lading, delivery order, warrant for goods or other mercantile document or title to goods; (d) of securities of the Central Government, STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11. 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. 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By payment of proper stamp duty on trademark license agreement in mumbai Duty -- the term 'registration ' includes every operation incidental to Registration under the Act...: every order made by the person executing the instrument in Maharashtra apply to the Municipal Corporation of Greater.... Court u/s cases of Bonds, Release, Settlement, it is to be on. Payment of proper stamp Duty covers electronic share trading ( CREST ) stamp. Instruments chargeable to Duty in effecting a transaction so as to reduce or lessen the liability of stamp Charges..., Inc. v. Feingold, 309 S.E.2d 394, 396 ( Ga.Ct.App method. Instrument executed by consortium of banks, the Duty chargeable shall not exceed Rs details and pay Duty! In Maharashtra time to time exceed Rs called by CCRA or any Officer... Registration Act, 1908 ( XVI of 1908 ) on instruments ( written documents ) then give on. The State Government in Maharashtra! -- Advise on stamp Duty on instruments ( written documents ) like my then. Electronic share trading ( CREST ), stamp Duty payable on the market value
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