Stamp Duty On Rental Agreement In Mumbai

The stamp duty rate for holiday and licensing contracts is the same for residential buildings and commercial premises. The leave and licence contract can be executed for up to 60 months. In Maharashtra, holiday and licensing contracts must be stamped with a flat rate of 0.25 per cent of the total rent for this period. If a non-refundable bond is also paid to the lessor, stamp duty will be levied at the same rate on these non-refundable bonds. Section 52 of The Indian Easements Act, 1882, defines vacation and licensing agreements. This section states: "If a person grants another person or a number of other persons the right to do or continue to do something on or on the land of the funder who, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property, the right is qualified as a licence." Article 36, paragraph A, point A), in clause a), ....... (i) in Column 1, in Column 1, the words "thirty-three months" are replaced by the words "sixty months"; (ii) in columns 1 and 2, the words "11 months" are replaced by the words "twelve months"; As of May 1, 2013, the new stamp duty rates will apply to leave and licensing contracts. In accordance with the new amendment to sub-clause (a) of article 36 bis b), article 36 bis replaces, for sub-clause (a), the following clause, namely: (a) where the leave and licence contract provides for a maximum of sixty months, with or without an extension clause; "0.25% of the total; (i) the licence fee or the rent payable under the contract; plus (ii) the amount of non-refundable deposits or advanced money, or the prior application or premium under any name; plus (iii) interest calculated at a rate of 10% per annum on the refundable bond or advanced money, or advanced under any name. In accordance with the new subsection 2 of Section 70 of the Maharashtra Stamp Act, 1958 For documents with a stamp duty payable of one hundred and forty-nine rupees, $49 is ignored, or more than one hundred and eighty-nine, the amount in question will be rounded by the following hundred rupees. 1) In other words, if the stamp duty is determined on a document is 101 or more until the next 149 is payable.

2) If the amount of stamp duty is equal to or greater than 150 years up to 199 hours of overtime, 200 were payable. How do I calculate the stamp duty on Leave and License Agreement in Maharashtra? We have tried to explain it in a simple way, so that it is easy to understand. 1. (R) Rent 12000/- [Rental Month] 2. (M) month 12 [months] 3. (TR) Total rent - (R) x (M) 144000 - 12000 x 12 4. (RD) Refundable down payment is 10% 10,000 x 1000 x 10% 5. (NRD) Non-refundable deposit 24000/6. (TA) Amount of the tax payers - (FU) - (NRD) - (TR) 178000 - 10,000 - 2400 - 144000 7. (TA) x 0.25% 8.

(SD) ) Stamp duty - (TA) x 0.25% 445 x 178000 x 0.25% 9. (RSD) Round stamp duty (under section 2 of Section 70 of the M. Act, 1958) 400 (Rounded Stamp Duty) MAHARASHTRA GOVERNMENT Thursday, July 08, 2000 Part 4 A REVENUE AND FOREST DEPARTMENT Mantralaya, Mumbai 400 032, dated June 8, 2000 Notification The Registration Act, 1908. No. RGN.2000/2120/CR-592/M-1- In the exercise of the powers conferred by paragraphs 78 and 79 of the Registration Act, 1908 (XVI 1908), in its application to the State of Maharashtra, read with subsection (1) of Section 55 of the Mahartra Rent Act Control, 1999 (Mah. 18th of 2000), the government of Maharashtra amended the ROYALty TABLEAU, which was established under Section 78 and published under the government`s note, Ministry of Taxation No. 2000, effective in 2000. Mr. RGN. 1558/67731-N, dated 17 July 1961, as requested in section 79, namely: in the royalty table above, the following article is interested in Article III, namely; "III A For the registration of a document of the leave and licensing agreement, if this document relates to the property; A borders; Municipal Corporation 1000 In any other region 500 ₹Territori On order and on behalf of the Governor of Maharashtra, P.