ARTICLE 25 - CONVEYANCE DEED, SALE DEED, AGREEMENT FOR SALE, CONVEYANCE (not being a transfer charged or exempted under Article 59) --, On the true market value of the property which is the subject matter of the Conveyance,--, (b) if relating to immovable property situated ,--. 9.6 Deficient portion of stamp duty : amount of maximum penalty increased. 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. (a) where on a dissolution of the partnership or on retirement of a partner any property is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. 50. The normal stamp duty to be paid is as per clause 5 (c) of schedule 1-A of the Indian Stamp Act applicable to Delhi i.e. VALUATION, See Appraisement (Article 8). (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. Explanation I. Proof of Title: 5,00,000; 0.1% of the amount secured by such deed subject to the minimum of Rs. E-payment of stamp duty can be done through: Online payment into the Virtual Treasury through Government Revenue and Accounting System (GRAS) 12; or Electronic Secured Bank and Treasury Receipt (e-SBTR) issued by authorised banks 13. STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11, ARTICLE 39 MEMORANDUM OF ASSOCIATION OF A COMPANY (Detailed chart attached). Certain departments, organisations, Institutions etc., to ensure payment of stamp duty 16 11. 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. Other states levy additional tax such as metro cess and local body tax along with stamp duty. LEASE, including under lease or sub-lease and any agreement to let or sublet or any renewal of lease--, The same duty as is leviable on a conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 10 % of the market value of the property, (ii) for a period exceeding 5 years but not exceeding 10 years, with a renewal clause contingent or otherwise. 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. // --> . Now, with the passage of this bill, this one year set-off period has now been extended to three years. After obtaining the Incorporation Certificate, the LLP agreement, duly signed by the partners of the LLP, must be filed within 30 days. Sale Certificate issued by any competent office or authority under any Recovery Act, Agreement relating to the Deposit of title deeds, where such deposit has been made by way of security for the repayment of a loan or an existing or future debts. In Maharashtra, leave and license agreements are required to be stamped, with a flat stamp duty . (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. 10. This section deals with Stamp Duty on instruments (written documents). Stamp duty must be paid by affixing non-judicial stamps to the document. Patents The Patents Act does not contain any restrictions on the assignment of a licence. 200 or an amount equal to 5% of the amount of consideration ,whichever is higher. The Contact Details of ACCs, SHCIL Offices and SROs are available on the Web site "www.shcilestamp.com" TRADEMARK LICENSE AGREEMENT (b) where there is no disposition of property, --. 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. Any party to an instrument can also. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper Rule 11. How much are stamp duty and registration charges in Karnataka for agricultural land? or by any other system of payment as may be notified by the state government in this behalf, in respect of such instruments, as may be specified in the notification passing through their system or related to their functioning of which registration is not compulsory. For business users who are e-stamping their documents, you must register for an e-Stamping Account ID via the IRAS e-Stamping portal. Stamp duty on lease agreements. In August 2020, Maharashtra Government announced that they are reducing the stamp duty for the next three months. Now, Let's discuss the Stamp Duty in State-Delhi. Important Timeline of Maharashtra State. 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.. 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. 9.8 Simplication of procedure for filing Appeal before Addl. From 1st January 2021, people were to pay a 3% stamp duty on the property value. MHADA, CIDCO, BPT, MC, MIDC etc., or Income Tax Dept. B If the agreement claims to be for a period of more t . 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. 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. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper under Rule 11. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. The state government announced stamp duty reduction on lease agreements on 24th December 2020. Stamp duty rate: The rates at which stamp duty is charged in various Indian states at present range from 4 per cent to 10 per cent. The Penalty on the instruments mentioned in the Appendix is reduced to ten percent of total penalty on the deficient portion of the duty for the period commencing from 1. in sub-clause (c), in column (1) ,the word and shall be deleted; for sub-clause (d) ,the following sub-clauses shall be substituted ,namely:-, AGREEMENT OR ITS RECORDS OR MEMORANDUM OF AN AGREEMENT, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE OR HYPOTHECATION, CLEARANCE LIST FOR HOUSE OF STOCK EXCHANGE, CLEARANCE LIST FOR HOUSE OF COTTON ASSOCIATION, CLEARANCE LIST FOR HOUSE OF A BULLION ASSOCIATION, CLEARANCE LIST FOR HOUSE OF OIL SEED ASSOCIATION, CLEARANCE LIST RELATING TO TRANSACTIONS FOR THE PURCHASE OR SALE OF OIL SEEDS SUBMITTED TO THE CLEARING HOUSE OF A OIL SEED ASSOCIATION. Follow these steps, to pay your stamp duty online: Step 1: Visit the Maharashtra Stamp Duty online payment portal. 2. Stamp Duty is a statutory payment like Goods and Services Tax which needs to be paid on all instruments chargeable to duty. Explanation I. (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,-. ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. Advantages of Notarised Agreements: Legally Binding: Notarised agreements are legally binding and enforceable in a court of law. If on adjustment, no duty is required to be paid then a minimum duty for the conveyance shall be Rs. Stamp duty is the transactional tax, which plays a key role in the transactions made on a property. Provided that, in case of instrument executed in favour of consortium of banks, the duty chargeable shall not exceed Rs.50,00,000/-, (2) The pawn, pledge, or hypothecation of movable property, where such pawn, pledge or hypothecation has been made by way of security for their repayment of money advanced or to be advanced by way of loan or an existing or future debt--, (3) The instrument falling under this article when executed as a collateral or auxiliary or additional security and where the proper duty has been paid on the Principal or Primary security under this article. // -->