4.6 The date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. Mudrank-2020/C.R.136/M-1 (Policy) issued by Revenue and Forest Department dated 29.08.2020 wherein the Stamp Duty chargeable under Article 25(b) of Schedule I of Maharashtra Stamp Act, 1958 on the instrument of Conveyance or Agreement to Sell of any immovable property in Mumbai City and Mumbai Suburban was reduced by Three percent (3%) for the period starting from 1st September, 2020 and ending on 31st December, 2020 and by Two percent (2%) for the period starting from 1st January, 2021 and ending on 31st March, 2021. In simple terms, we can call Stamp Duty as Price of Stamp paper. 10 % of the aggregate of the market value of the shares issued or allotted in exchange or otherwise and the amount of consideration paid for such amalgamation: Provided that, the amount of duty, chargeable under this clause shall not exceed, -, (i) an amount equal to 5 % of the true market value of the immovable property located within the State of Maharashtra of the transferor company; or. Forsection 68of the principal Act, the following section shall be substituted, namely : 68. The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 90 % of the market value of the property. You can register as user on the portal and can avail services such as the registration for importer, goods, agent, transporter etc. STAMPS TO BE USED -- Adhesive Stamp, Rule 13 (f) or Non-Judicial Stamp, Rule 6. Any instrument executed in the state of Maharashtra shall be liable for payment of Stamp duty according to Section 3 of the Act at the rates provided in Schedule I to The Maharashtra Stamp Act. If MOA is not accompanied by AOA, then Stamp duty on MOA will be 0.2% according to the share capital subject to minimum of Rs. This tax is applicable to various types of papers, including property sale agreements, leave and license agreements, gift deeds, and mortgage deeds. For charging stamp duty, the instrument is not to be treated by the name it bears but by the substance or real nature of the transaction recorded therein. Provided further that, when proper stamp duty is paid under clause (g- a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be Rs. 100/- equal to or exceeding Rs. (3) The Occupancy Certificate must be granted by the concerned Planning Authority. Step 2: Click 'Pay Without Registration' if you are not registered with the portal. 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 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. 5. See also Certificate or other Document (Article 17). (c) when authorizing one person or more to act in a single transaction other than the case mentioned in clause (a); (d) when authorizing one person to act in more than one transaction or generally; (e) when authorizing more than one person to act in single transaction or more than one transaction jointly or severally or generally; (f) (i) when given for consideration and authorizing to sell an immovable property; The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be of Article 25, on the market value of the property. 30,00,000 is Rs. The Penalty on the instruments mentioned in the Appendix is reduced to ten per cent of total penalty on the deficient portion of the duty. Rs.500 plus 0.1 % of the amount above Rs.10,00,000 subject to maximum of Rs.25,00,000. Check all needed legal documents, Payments, Charges, Property Registration, Rates & its Calculation procedure. 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. Vide Notification No. (a) where on a dissolution of the partnership or on retirement of a partner any property is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). for Art. A.Hi, Stamp duty and Registration Charges differ from one state to another. This amount is paid, by purchasing the stamp paper of value you owe to the government. [Title] So we have rented a flat in Mumbai, the owners include me, my mom and my sister. the Stamp Duty payable under Article 25(b) of Schedule 1 of the Bombay Stamp Act, 1958. 100. The purchaser has to enter into an agreement with the seller of the flat and the stamp duty is computed as per the agreement value . 2. // -->