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. (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. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. It is pretty much similar to what a government collects for sales tax and income tax. Further it has to be paid on time to avoid penalty. Declaration of -- of, or concerning, any property when made by any writing not being a Will,--, (a) where there is disposition of property, --. 25,00,000. *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. if(MSFPhover) { MSFPnav5n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav5h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } 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 . 9.10 Section 38of the principal Act shall be deleted. A license may apply to any type of IP -trademark, patent, copyright,design and/or know-how. 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,-. 2. 20 lakhs. The Ready Reckoner is also available online on the IGR website. (1) having area upto 27.88 squares meters (300 square feet); Rs. ; (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. (2) Letter of hypothecation accompanying a bill of exchange. 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. 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. Instruments which are not covered under the above Act are either chargeable under Indian Stamp Act, 1899 (e.g. (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. 1,00,00,000 or part thereof of the value of security, (b) if relating to purchase or sale of securities, other than those following under item (a) above,-, Re.0.20 for every Rs.10,000 or part thereof, (c) if relating to futures and options trading, (d) if relating to forward contracts of commodities traded through and association or otherwise. 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. Here, it would be relevant to mention that a s per the provisions laid down under the Indian Stamp Act, a stamp duty @ 5% is payable on an instrument based on the consideration amount mentioned. For Land, Flat, Shop, Office and Industrial Unit etc. Other states levy additional tax such as metro cess and local body tax along with stamp duty. This tax is applicable to various types of papers, including property sale agreements, leave and license agreements, gift deeds, and mortgage deeds. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. 1 Revenue stamp. E-payment is a mode of payment in addition to the conventional methods of payment offered by the Government of Maharashtra which is popularly known as GRAS(Government Receipt Accounting System). Act LX of 1958) as amended from time to time. What is Stamp Duty? 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. 10.1 Deletion of requirement to round off duty amount. 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. Even instruments executed outside the State are liable to duty within 3 months on their receipt in the State, provided it relates to a property situated in the State or a matter or thing to be done in the state. 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. 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. Insection 40of the principal Act, after the words hereinafter prescribed the words with the prior approval of the Additional Controller of Stamps, Mumbai for the areas in Mumbai City and Mumbai Suburban Districts and for the other areas the Deputy Inspector General of Registration and Deputy Controller of Stamps shall be added. EXCISE BOND, See Customs Bond or Excise Bond (Article 28). 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. 100/- equal to or exceeding Rs. (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. 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. Revocation of -- of, or concerning, any property when made by any instrument other than a Will. Stamp Duty in Mumbai Based on Area Type. ; by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person. 0.5% of the consideration amount of the debenture. Malaysian Ringgit (RM) loan agreements generally attract stamp duty at 0.5% However, a reduced stamp duty liability of 0.1% is available for RM loan agreements or RM loan instruments without security and repayable on demand or in single bullet repayment. 4,500 Plus renewal fee applicable under entry 3. Yes, when you buy a house in Mumbai that will take two years to get ready for possession, you will have to pay 2% as stamp duty and 1% as the registration charge on the purchase. 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. 100/-. 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. 30,00,000 is Rs. See also Letter of Allotment of Shares (Article 37); Explanation. 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--. // -->