9/20/2016 4:14 PM 628284 The Maharashtra Stamp Act..pdf Finance Department (FD), Government of Maharashtra, has decided to receive payments electronically. (iii) within the limits of anyGrampanchayatarea or any such area not mentioned in sub-clause (ii). (g) when given to a promoter or developer by whatever name called, for construction on, development of, or sale or transfer (in any manner whatsoever) of, any immovable property. Stamp Duty on Merger Maharashtra Conveyance has been defined to include: every decree or final order of any Civil Court. 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. 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. Seal of the office. BOMBAY STAMP ACT, INDIAN STAMP ACT & REGISTRATION ACT. <>/Metadata 4834 0 R/ViewerPreferences 4835 0 R>> Stamp Duty Calculator Maharashtra - Updated Calculate Stamp Duty, Registration Fee, Rebate for Women, LBT GST, and TDS in just six (6) easy steps Validity of this calculator is from 1st April, 2021 up to 31stMar, 2022. - For the avoidance of doubt, it is hereby declared that nothing in this Act shall apply to rates of stamp duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of . 0.3% of the amount secured by such deed subject to maximum of Rs. endobj Rs.500 plus 0.1 % of the amount above Rs.10,00,000 subject to maximum of Rs.25,00,000. 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.. 9.18 Delegation of certain powers to CCRA : Addl. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. The recent notification of the Maharashtra government to abolish stamp duty on gifts between relatives (Referring to the Maharashtra Stamp Act Amendment Bill 20/2015). Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on, Explanation II. Vide Notification No. Maharashtra Stamp Act, 1958. . . Amendment to Section 70 of Maharashtra Stamp Act: By way of this amendment, the amount of stamp duty, which is determined, payable on instruments chargeable with more than Rs. Explanation(1) For the purposes of this Order, unit means, a residential unit. Earlier it was charged under article 25(b) which amounted to 5% on Market Value of the premises. 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. The stamp rate was 3% from 1st Oct 2020 to 31st Dec 2020. (a) when possession of the property or any part of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given; The same duty as is leviable on a conveyance under clauses (a), (b) or (c), as the case may be, of Article 25, for the amount secured by such deed. Regional Development Authority (MMRDA) and Municipalities of Pune, Pimpri-Chinchwad and Nagpur. - 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. (ii) an amount equal to 0.7 %, of the aggregate of the market value of the shares issued or allotted in exchange or otherwise and the amount of consideration paid, for such amalgamation, whichever is higher: Provided further that, in case of reconstruction or demerger the duty chargeable shall not exceed, -, (i) an amount equal to 5 % of the true market value of the immovable property located within the State of Maharashtra transferred by the Demerging Company to the Resulting company; or. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. It is an indirect tax collected by the State Government in Maharashtra. 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. * The amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. However agreement for sale of flats, shops, etc. The Penalty on the instruments mentioned in the Appendix is reduced to ten per cent of total penalty on the deficient portion of the duty. Thus, within the said area a further transaction from the original purchaser to the next purchaser is not eligible for the reduction in the stamp duty under this order. Explanation I. 63. Duty can be paid by way of adhesive or impressed stamps or e-franking on the instruments and duly stamped documents are only admitted as evidence in court. By an Order dated 31st March 2018 of Revenue and Forest Department, the stamp duty on the first instrument of transaction between the project Proponent/s and the Purchaser of any unit belonging to the beneficiary of Economically Weaker Section (EWS) of Lower Income Group (LIG) category for the allotment of residential premises located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing for All (Urban) is fixed to the extent of Rs.1000/- subject to fulfilment of certain conditions. Instruments executed in State. B. (ii) an amount equal to 0.7%, of the aggregate of the market value of the shares issued or allotted to the Resulting Company and the amount of consideration paid, for such demerger, whichever is higher: Exemption: Assignment of copyright under the Copyright Act, 1957 (IXV of 1957). 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. Explanation II. (i) within the limits of any Municipal Corporation or any Cantonment area annexed to it or any urban area not mentioned in sub clause (ii). The state government announced stamp duty reduction on lease agreements on 24th December 2020. STAMPS TO BE USED -- Adhesive Stamp, Rule 13 (f) or Non-Judicial Stamp, Rule 6. 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,-. Under Section 17 of the . Now, with the passage of this bill, this one year set-off period has now been extended to three years. The amendments to the Indian Stamp Act 1899 (Act) have come into effect from 1 July 2020. (b) when possession is not given or agreed to be given as aforesaid. Explanation III.(i) For the purposes of clause (da) the market value of shares,--, (a) in relation to the transferee company, whose shares are listed and quoted for trading on a stock exchange, means the market value of shares as on the appointed day mentioned in the Scheme of Amalgamation or when appointed day is not so fixed, the date of order of the High Court; and, (b) in relation to the transferee company, whose shares are not listed/or listed but not quoted for trading on a stock exchange, means the market value of the shares issued or allotted with reference to the market value of the shares of the transferor company or as determined by the Collector after giving the transferee company an opportunity of being heard. 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, if(MSFPhover) { MSFPnav3n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav3h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } increased stamp duty on gift deeds and conveyance deeds by amending the amending the Maharashtra stamp duty act. Revocation of -- of, or concerning, any property when made by any instrument other than a Will. Insection 52A of the principalAct, (a) in sub-section (1), for the words one lakh the words five lakhs shall be substituted; (b) in sub-section (2), for the words ten lakhs at both the places where they occur, the words twenty lakhs shall be substituted. It had reduced stamp duty to 2% from 5% within 1st September 2020 to 31st December 2020, to boost real estate demand in Pune. If the garden of your house has a formal design, then you must place the water fountain in a central location so that it can serve as a focal point. New Stamp Duty Rates (applicable with effect from 1 July 2020) Stamp Duty Rates applicable prior to 1 July 2020* Issue of securities (other than debentures) through a stock exchange, depositories or otherwise. 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. (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. HIRING AGREEMENT or agreement for service, see Agreement (Article 5). (c) When a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above-mentioned purpose where the principal or primary security is duly stamped. [Redevelopment Projects] No Stamp Duty On Individual Allotment Agreements If Development Agreement Is Stamped: Bombay High Court Stamp Duty in Maharashtra: Get detailed knowledge on Maharashtra Stamp Act,Stamp duty registration charges in Maharashtra 2021 and how to calculate stamp duty. Section 3 of the Maharashtra Stamp Act provides that every instrument mentioned in Schedule I to the Act is chargeable with Stamp duty. . (aa) Additional Controller of Stamps, Mumbai means the officer or officers so designated by the State Government and includes any other officer whom the State Government may, by notification in the Official Gazette, appoint in this behalf ; . (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. (c) for the sole purpose of enabling any person to receive any pension or charitable allowance. Immovable property land, house or flat can now be transferred to one's children or blood relatives without paying stamp duty for registration. ARTICLE 17 CERTIFICATE OR OTHER DOCUMENT. 100 or an amount equal to 5% of the amount of consideration, whichever is higher, (iii) any Municipal Corporations other than those Municipal Corporations mentioned in columns (i) and (ii)--, Rs. Explanation. Recently, specific changes have been made in the Maharashtra Stamp Act that deals with the electronic payment of stamp duty, gift deeds stamp duty, new penalty clauses, and changes in stamp duty amount under specific clauses. From 1st January 2021, people were to pay a 3% stamp duty on the . 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. ** Amount given is leviable only if the Memorandum of Association (MOA) is accompanied by Articles of Association (AOA). 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. Press Releases. on the refundable security deposit or money advanced or to be advanced, by whatever name called. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. Insection 32Bof the principal Act, (i) in sub-section (1), after the words file an appeal against such order, to the the words Additional Controller of Stamps, Mumbai in respect of the property, which is the subject matter of the instrument, is situated in Mumbai City and Mumbai Suburban Districts and in respect of the properties situated in the other parts to the shall be inserted; (ii) in sub-section (2), after the words against the order of the the words Additional Controller of Stamps, Mumbai or the shall be inserted. It amends section 5, article 6 and article 40 of schedule I of the Maharashtra Stamp Act, 1958, and has been released in addition to the circular issued by the Office of the Inspector . Arunachal Pradesh. Online Payment of Stamp Duty in Maharashtra without Registration SURRENDER OF LEASE including an agreement for surrender of lease--. 9.15 Mandatory provision for furnishing information called by CCRA or any authorized Officer. 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. Conducted research on NFTs . Further it has to be paid on time to avoid penalty. // -->

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