If payment of the stamp duty is delayed, it will incur a fine. (ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai-. 10.1 Deletion of requirement to round off duty amount. Step 2: Select an area, that is, Municipal Corporation or Gram Panchayat. 5 (h) impressed stamp under Rule 6, ARTICLE 6 AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, that is to say, any instrument evidencing an agreement relating to--. The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. Sub : Levy of Stamp Duty on the Deeds of Agreements made prior to 10/12/1985 Reference : Your Letter No.BOM/5064/06 dated 03/08/2006 . Any instrument executed in the state of Maharashtra shall be liable for payment of Stamp duty according to Section 3 of the Act at the rates provided in Schedule I to The Maharashtra Stamp Act. 100/-. (ii) within the limits of any Municipal Council or Nagar Panchayat or Cantonment area annexed to it, or any rural area within the limits of the Mumbai Metropolitan Region Development Authority, or the Influence Areas as per the annual statement of rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995. One such factor is the location or area of the property. Rs.500 plus 0.1 % of the amount above Rs.10,00,000 subject to maximum of Rs.25,00,000. ), Addresses of the parties, Document name that is the LLP agreement and; Stamp Paper Value. 100. (a) where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000; (b) where such share contribution brought in by way of cash is in excess of Rs. Stamp Duty charges vary from one state to another and may depend on gender, municipal areas or income groups within the state too. 2. Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. For charging stamp duty, the instrument is not to be treated by the name it bears but by the substance or real nature of the transaction recorded therein. W.e.f. (iii) for a period exceeding 10 years but not exceeding 29 years, with a renewal clause contingent or otherwise. Act LX of 1958) as amended from time to time. Earlier it was charged under article 25(b) which amounted to 5% on Market Value of the premises. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. Application for renewal with surcharge/ restoration and renewal of a Trademarks under section 25 (3), 25 (4) for each class. (a) when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents; (b) when required in suits or proceedings under the Presidency Small Cause Courts Act, 1882, (XV of 1882). Explanation II-- Where in the case of an agreement to mortgage the amount or part thereof sought to be secured by such an agreement is advanced or disbursed to the mortgagor or without execution of a mortgage deed, then such an agreement to mortgage shall, notwithstanding anything contained in clause (d) of section 2, become chargeable under this Article as mortgage-deed on the date of making of such advance or disbursement either in part or in whole. 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. From 1st January 2021, people were to pay a 3% stamp duty on the property value. The slashing of stamp duty in Mumbai from 5% to 2% from September to December 2020, and 3% till March 31, 2021, had boosted residential realty sales. 1. on the refundable security deposit or money advanced or to be advanced, by whatever name called. (iii) within the limits of anyGrampanchayatarea or any such area not mentioned in sub-clause (ii). 30,00,000 is Rs. 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. (1) having area upto 27.88 squares meters (300 square feet); Rs. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. // -->