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STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper Rule 10(ii). The concession is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Pimpri Chinchwad. Hence, it is crucial to duly stamp a contract. ARTICLE 36A LEAVE AND LICENSE AGREEMENT. (i) If the amount secured by such deed does not exceed Rs.5,00,000, 0.1% of the amount secured by such deed , subject to minimum of Rs.100, 0.3% of the amount secured by such deed , subject to maximum of twenty lakh rupees. (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. function MSFPpreload(img) Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on, Explanation II. 0.5 % of the amount agreed in the contract. (ii) For the purpose of clause (da), the number of shares issued or allotted in exchange or otherwise shall mean, the number of shares of the transferor company accounted as per exchange ratio as on appointed date. In section 70 of the principal Act, sub-section (2) shall be deleted. LETTER OF ALLOTMENT OF SHARES in any company or proposed company, or in respect of any loan to be raised by any company or proposed company. Circular w.e.f. Explanation(1) For the purposes of this Order, unit means, a residential unit. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). 9.3 E-payment through Government Receipt Accounting System (GRAS): Virtual Treasury, Insection 10of the principal Act, after sub-section (3), the following sub-section shall be inserted, namely :, (3A) The procedure to regulate the use of e-payment, through Government Receipt Accounting System (G.R.A.S.) If the garden of your house has an informal design . 1000 and maximum of Rs.50,00,000. Insection 32Bof the principal Act, (i) in sub-section (1), after the words file an appeal against such order, to the the words Additional Controller of Stamps, Mumbai in respect of the property, which is the subject matter of the instrument, is situated in Mumbai City and Mumbai Suburban Districts and in respect of the properties situated in the other parts to the shall be inserted; (ii) in sub-section (2), after the words against the order of the the words Additional Controller of Stamps, Mumbai or the shall be inserted. article 34 of maharashtra stamp act; difference between bombay stamp act and maharashtra stamp act; maharashtra stamp act 2020; maharashtra stamp act in Marathi; mumbai; Nagpur; Navi Mumbai; pune; stamp duty on service agreement in Maharashtra; Thane (ii) Maharashtra Stamp Act [1958 : Bom. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. STAMP DUTY. The Maharashtra Stamp Act and Stamp Duty in Mumbai. bodies or local authorities e.g. CERTIFICATE OR OTHER DOCUMENT, evidencing the right or title of the holder thereof, or any other person either to any shares, scrip or stock in or of, any incorporated company or other body corporate, or to become proprietor of shares, scrip or stock in or of, any such company or body. EXCISE BOND, See Customs Bond or Excise Bond (Article 28). Llb 1 sem hons law law of contract 1 5105 mar 2020; Common law remedies against pollution; . (a) of a bill of exchange, cheque or promissory note; (b) of a bill of lading, delivery order, warrant for goods or other mercantile document or title to goods; (d) of securities of the Central Government, STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11. Researched and authored articles published on the firm's website and weekly newsletters. Insection 32Aof the principal Act, (i) in sub-section (1), after the words by way of assignment the following portion shall be inserted, namely : and also any other instruments mentioned in SCHEDULE I chargeable with duty on the basis of market value of the property; (ii) in sub-section (2), in the third proviso, for the word double the words four times shall be substituted; (iii) in sub-section (4), (a) the first and second provisos shall be deleted; (b) in the third proviso, for the word double the words four times shall be substituted. See also Letter of Allotment of Shares (Article 37); Explanation. (1) The deposit of title deeds or instrument constituting or being evidence of the title to any property whatever (other than a marketable security), where such deposit has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt; (a) if the amount secured by such deed does not exceed Rs. Stamp Paper- The stamp charge must be executed on non-judicial stamp papers and is paid directly to the registered authority. Provided that in case of instrument executed by consortium of banks, the duty chargeable shall not exceed 50 lakhs. The acceptance of on-line payment of Maharashtra State's Taxes through the internet portals of various banks have been developed, without having any implication on the existing procedure of the executive and accounting agencies of the Department. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. 0.1% of the value of the shares ,scrip or stock. The instruments or the documents have to be read as they are i.e. XX of 2015 dated 24 th April, 2015. 1094/2229/CR-450-MI, dated 2nd August, 1994 - In exercise of the powers conferred by clause (a) of section 9 of the Bombay Stamp Act, 1958 (Bom. The Ready Reckoner is also available online on the IGR website. 9.1 Additional Controller of Stamps, Mumbai : New Statutory Authority, Insection 2of the Maharashtra Stamp Act (hereinafter referred to as the principal Act), before the existing clause (a), the following clause shall be inserted, namely :. Explanation I.-For the purposes of this article, where in the case of agreement to sell an immovable property, the possession of any immovable property is transferred or agreed to be transferred to the purchaser before the execution, or at the time of execution, or after the execution of, such agreement [* * *] then such agreement to sell shall be deemed to be a conveyance and stamp duty thereon shall be leviable accordingly: Provided that, the provisions of Section 32A shall applymutatis mutandisto such agreement which is deemed to be a conveyance as aforesaid, as they apply to a conveyance under that section: Provided further that, where subsequently a conveyance is executed in pursuance of such agreement of sale, the stamp duty, if any, already paid and recovered on the agreement of sale which is deemed to be a conveyance, shall be adjusted towards the total duty leviable on the conveyance. (ii) conferring exclusive rights of telecasting, broadcasting or exhibition of an event or a film, -, (iii) specific performance by any person or a group of persons where the value of contract exceeds rupees 1,00,000,-, (iv) creation of any obligation, right or interest and having monetary value, but not covered under any other article, -. Further, the Ministry vide notification dated January 08, 2020 has deferred the effective date of amendments in the Act to April 01, 2020. In the absence of any such agreement, the Act provides that in the case of a Conveyance, duty is to be paid by a buyer and by the lessee in case of a lease. Now, with the passage of this bill, this one year set-off period has now been extended to three years. Provided that, in case of instrument executed in favour of consortium of banks, the duty chargeable shall not exceed Rs.50,00,000/-, (2) The pawn, pledge, or hypothecation of movable property, where such pawn, pledge or hypothecation has been made by way of security for their repayment of money advanced or to be advanced by way of loan or an existing or future debt--, (3) The instrument falling under this article when executed as a collateral or auxiliary or additional security and where the proper duty has been paid on the Principal or Primary security under this article. The new rate after the reduction was 2% (from earlier 5%) and applied from 1st September to 31st December 2020. 100/- shall be charged. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). Bill rsuance of clause (3) of artic Maharasht the followi and 3TI' G 12009/35528 if(MSFPhover) { MSFPnav5n=MSFPpreload("../_derived/back_cmp_Profile110_back.gif"); MSFPnav5h=MSFPpreload("../_derived/back_cmp_Profile110_back_a.gif"); } Maharashtra. 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. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. --Where under clause (f), duty has been paid on the power of attorney, and a conveyance relating to that property is executed in pursuance of power of attorney between the executant of the power of attorney and the person in whose favour it is executed, the duty on conveyance shall be the duty calculated on the market value of the property reduced by duty paid on the power of attorney. *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. The Ministry of Finance ("Ministry") has appointed January 09, 2020 as the day on which these proposed amendments shall come into force. The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. The Stamp Duty in Maharashtra (areas other than Mumbai) was reduced by 2 per cent from September 1, 2020 to December 31, 2020 and by 1.5 per cent from January 1, 2021 to March 31, 2021. CONTENTS SECTIONS Page No. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). Recently, specific changes have been made in the Maharashtra Stamp Act that deals with the electronic payment of stamp duty, gift deeds stamp duty, new penalty clauses, and changes in stamp duty amount under specific clauses. *5\Q JF5 \S Bm49OFA6Ak!FKy-v){krM{8KM1,0f o+i{Q442Ky^,|Ik6?-]B5)pCT589TtHE`i"~:l:\^F&TgX6@n_O0S9]3\=^8S#1um{1 \+*KBIa_902B!S0KM The 1.1% fall was the biggest year-on-year drop since November 2012 and also the first annual decrease since June 2020, early in the coronavirus . The Finance Act, 2019 ('FA 2019'), has prescribed certain amendments in the Indian Stamp Act, 1899 ("the ISA") with the intent of creating a mechanism which would enable the State to collect . THE REGISTRATION ACT, 1908. Declaration of -- of, or concerning, any property when made by any writing not being a Will,--, (a) where there is disposition of property, --. Arunachal Pradesh. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Special Adhesive Stamp affixed by Proper Officer under Rule 11. 5,00,000; Explanation No duty shall be chargeable on agreements or its record covered under sub-clauses (b) and (c ) of this article, if proper duty is paid under Article 51 A, Agreement or its records or Memorandum of Agreement--. THE MAHARASHTRA STAMP ACT (BOM. When compared to March, property registrations fell by 50% in April . -- A mortgagor who gives to mortgagee a power of attorney to collect rents, or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article. The Maharashtra Stamp Act, passed in 1958, applies to all instruments listed in Schedule 1 on which the state collects stamp duty. 0.25 % of the total sum of --- (i) the license fees or rent payable under the agreement; plus (ii) the amount of non- refundable deposit or money advanced or to be advanced or premium, by whatever name called; plus (iii) the interest calculated at the rate of 10% p.a. Stamp Duty Increased from 3% to 5% w.e.f. 100, if such transfer or assignment is made within a period of 1 year from the date of the agreement. // -->