The Stamp Duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on transaction of Sale, Mortgage and Gift Deed will attract a 1% metro cess from 1st April,2022 over and above the Stamp Duty rate. The same duty as a conveyance under clause (a), (b), or (c), as the case may be, of Article 25, for a sum equal to the amount settled or the market value of the property settled. Further it has to be paid on time to avoid penalty. if(MSFPhover) { MSFPnav6n=MSFPpreload("../_derived/home_cmp_Profile110_home.gif"); MSFPnav6h=MSFPpreload("../_derived/home_cmp_Profile110_home_a.gif"); } ARTICLE 36A LEAVE AND LICENSE AGREEMENT. 50 or an amount equal to 5% of the amount of consideration ,whichever is higher, (2) having area more than 27.88 squares meters (300 square feet), (i) any advertisement on mass media, made for promotion of any product; or programme or event with an intention to make profits or business out it,-. Stamp duty is a duty payable upon the execution of certain instruments or documents specified in the Indian Stamp Act, 1899 ("IS Act") or the relevant state Stamp Act as the case maybe. They provide evidence of the terms and conditions agreed upon by the parties . Signature of the Officer. The same duty as is leviable on a conveyance under clause (a), (b) or as the case may be (c) of Article 25, on the market value of the share, interest, part or claim renounced. Insufficiently stamped documents are not admitted as evidence in the court. 20,00,000/-. Recently Maharashtra Government has allowed online registration of first sale agreement of developers approved by the Stamp duty and Registration Authorities. Areas for the allotment of residential premises (4), 12.1MAJOR ARTICLES AS PER SCHEDULE I OF THE MAHARASHTRA STAMP ACT, (1) A debt written or signed by, or on behalf of, a debtor in order to supply evidence of such debt in any book (other than a bankers pass book) or on a separate piece of paper when such book or paper is left in the creditors possession ,and the amount or value of such debt-. 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. 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. 100. You can pay stamp duty online via an electronic secured bank treasury receipt (eSBTR)-an online payment service. 2.3 The date of issue of the stamp paper must not be more than 6 months older than the date of the execution of the instrument. In case of exchange, it is to be paid by the parties in equal shares and in case of partition, by the parties in proportion to their respective shares. . Stamp duty is levied on transactions involving residential property, commercial property and freehold or leasehold properties. This section deals with Stamp Duty on instruments (written documents). STAMPS TO BE USED -- Non-Judicial Stamp Paper (NJ) under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. A person can be punished with rigorous imprisonment for up to 6 months (not less than 1 month) and with fine up to 5,000, if it is proved that the instrument was undervalued or short payment of duty was made with intention to evade duty. In some states, a flat fee is also charges as property registration charge. The registration fee is 1.05%. (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. Explanation I. (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. // -->