increased stamp duty on gift deeds and conveyance deeds by amending the amending the Maharashtra stamp duty act. In Maharashtra the Ready Reckoner changes every financial year i.e. As per Maharashtra Stamp Act, all instruments are chargeable with Maharashtra stamp duty. TRANSFER (whether with or without consideration). The instruments specified in the Schedule-I to the Act are covered by this Act. (a) as a condition of enrolment under the Air Force Act, 1950, (XLV of 1950) the Army Act, 1950 (XLVI of 1950) or the Navy Act, 1957 (LXII of 1957); (b) for the immediate purposes of being filed or used in any Court or before the officer of any Court; or. 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. The last day to apply for Amnesty Scheme was 31st December 2019. 9.9 Deficient portion of stamp duty : amount of maximum penalty increased. 24-4-2015). MCA;- Stamp Duty Rates in Various States. When compared to March, property registrations fell by 50% in April . (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. In Vastu, placing an outdoor water fountain in the east or northeast direction is ideal. ARTICLE 17 CERTIFICATE OR OTHER DOCUMENT. the difference in the stamp duty had to be paid within three months from the receipt of the Debenture Trust Deed in state of Maharashtra , but the same has not been paid. if relating to transfer of tenancy of immovable property, for every square meter of the area of the tenanted property the right of tenancy in which is the subject matter of transfer and situated Within the limits of--, (i) the Municipal Corporation of Greater Bombay--. (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. ; (ii) in sub-clause (iii), in column 2 , for the figure and words 3 per cent. the figure and words 4 per cent. Shall be substituted. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. The Amendment introduces a new definition of clearance list which is each client's list of transactions of sale and purchase relating to contracts traded on the stock exchange. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). . Further it has to be paid on time to avoid penalty. In Case Duty Exceeding Re. (Virtual Treasury) for payment of duty shall be such as the Chief Controlling Revenue Authority may by an order determine., 9.4 Fixing liability of payment of stamp duty even on unregistered documents, Aftersection 10Cof the principal Act, the following section shall be inserted, namely :, 10D. Press Releases. (1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884), or by their sureties as security for the repayments of such advances. It is an indirect tax collected by the State Government in Maharashtra. 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. 100/- and fractions of less than Rs. Aftersection 67of principal Act, the following section shall be inserted, namely : 67A. 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. 4 0 obj
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RELEASE, that is to say, any instrument (not being an instrument as is provided for by section 24) whereby a person renounces a claim upon other person or against any specified property,--. every order made by the High Court u/s. These amendments were earlier discussed by the Maharashtra Cabinet and approved on December 9, 2020. %
Depending upon the Instrument, it may be based upon the Market Value, Area, or other various criteria. (ii) If relating to the purchase of one or more units in any scheme or project by a person from a developer: Same duty as is leviable under clause (a), (b) or (c), as the case may be, of Article 25 on the market value of the unit. All agreements for leave and license must be stamped and registered. (iii) for a period exceeding 10 years but not exceeding 29 years, with a renewal clause contingent or otherwise. 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. ; (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. bodies or local authorities e.g. 68. (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). 0.3% of the amount secured by such deed subject to maximum of Rs. Any party to an instrument can also. if(MSFPhover) { MSFPnav5n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav5h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } STAMPS TO BE USED -- Adhesive Stamp (Section 11). 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. Circular w.e.f. (a) in Article 25, in clause (b),- (i) in sub-clause (ii), in column 2 , for the figure and words 4 per cent. the figure and words 5 per cent. Shall be substituted. 3,q~KQLa5})lDUau2Pyq?P|#K:G::w;9,8izk+x5o/y% hn;p#glsf VK>KJU|p7y6#&Q oFa#K/ STAMPS TO BE USED -- Adhesive Stamp, Rule 13 (f) or Non-Judicial Stamp, Rule 6. Provided that in case of instrument executed by consortium of banks, the duty chargeable shall not exceed 50 lakhs. Conversion of amount expressed in foreign . // -->