Act to be translated and sold cheaply 43 76. 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, Act LX of 1958) as amended from time to time. Instruments executed out of State. Tenancy agreement in Maharashtra When renting a property, landlords and tenantsmust engage in proper documentation to make the rental agreements legally binding. You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. 5 (a) to (g) adhesive under section 11, for Art. 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. By Notification dated 28th March 2020, the Government of Maharashtra had announced a concession in Stamp Duty rate @ 1% for 2 years with effect from 1st April 2020. 9.1 Additional Controller of Stamps, Mumbai : New Statutory Authority, Insection 2of the Maharashtra Stamp Act (hereinafter referred to as the principal Act), before the existing clause (a), the following clause shall be inserted, namely :. Seal of the office. 1-5-1994, the date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. 5 lakhs, rate of stamp duty is 0.2% of the secured 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. 1 by Impressed Stamp Fixed by Proper Officer. (c) if relating to both movable and immovable property. See also Certificate or other Document (Article 17). 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. --For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person. Explanation I. 3. If MOA is not accompanied by AOA, then Stamp duty on MOA will be 0.2% according to the share capital subject to minimum of Rs. Instruments executed in State. 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. state of Maharashtra under Article 25(da) of Schedule I to the Maharashtra Stamp Act, was INR 250 million. If the amount secured is more than Rs.5 lakhs then the Stamp duty shall be 0.3% of the amount secured subject to a maximum of Rs.20 Lakhs. Maximum 400%. In Maharashtra the Ready Reckoner changes every financial year i.e. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. 10 May 2022 8:48 AM GMT All Development Agreements signed between September 1, 2020 and March 31, 2021 would qualify for 1.5-2% refund of stamp duty as per the scheme announced by the. Assam. It had reduced stamp duty to 2% from 5% within 1st September 2020 to 31st December 2020, to boost real estate demand in Pune. Two key amendments to the Maharashtra Stamp Act, 1958 have been introduced in relation to stamping of documents encompassing multiple transactions and stamp duty rates in case of mortgage by deposit of title deeds and mortgage deed. The two leading decisions on this definition are those of the Supreme Court in the case of. 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. // -->