Stamp Duty On Agreement In Mumbai

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The Maharashtra (Bombay) Stamp Act, 1958 came into force on 16 February 1959 and is applicable in the state of Maharashtra. The purpose of this act is to impose stamp taxes on certain types of documents exported within the state or brought in from outside to act in the state. The various instruments and documents are covered in general under different articles 62 listed in Annex I of the Act. The phrases at which stamp duty is levied on these documents are listed in Schedule I of the Maharashtra (Bombay) Stamp Act, which collects stamp duty on documents/instruments creating, transferring, limiting, extending, removing or registering a right or liability. Stamp duty must be paid on the instrument and not on transactions. The registration fee for a lease in Maharashtra depends on the location of the rented property. The registration fee is Rs 1,000 if the property is located under a communal territory and it is Rs 500, if it is the same in a rural area. In the absence of an agreement to the contrary, the costs of stamp duty and registration are the responsibility of the tenant. In accordance with Article 30, in the absence of an agreement to the contrary, the payment of stamp duty is subject to the manner in which it is provided for certain types of documents.

Mortgage credit, release, for guarantee, liquidation, surety, etc. in case of transfer, the scholarship holder and the tenant of the tenants pay the stamp duty in case of exchange of ownership, both parties to pay the stamp duty in equal shares. In the event of division, the parties would have to pay stamp duty in relation to their respective shares. F29. What happens when the instrument is executed on stamps that do not bear the name of one of the executors? F27. What are the consequences of non-payment of stamp duty? Same duty as for promotion. In case of donation to spouse, brother, sister, ancestors or descendants @ ₹ 10 for every ₹ 500 or a part (about 2%) of the market value 4.2 instrument, which is exported only from Maharashtra, can be stamped within three months from receipt in India…