The expression co-owners includes all kinds of, Immovable Property includes land, benefits to arise out of land and things attached to the earth or permanently fastened to anything attached to the earth. 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--. Yes, when you buy a house in Mumbai that will take two years to get ready for possession, you will have to pay 2% as stamp duty and 1% as the registration charge on the purchase. What is stamp duty on gift deed in Mumbai?. Control Act, 1999. 43 (b).The parties cannot rely on statements or conduct outside the License Agreement to establish any right or duty beyond or contrary to those expressly provided in or limited by the License Agreement. As mentioned in this order 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 shall stand reduced to 1% subject to certain conditions, if all the purchasers are female. (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. Act LX of 1958) as amended from time to time. The Stamp Duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on transaction of Sale, Mortgage and Gift Deed will attract a 1% metro cess from 1st April,2022 over and above the Stamp Duty rate. 50/- shall be rounded of to the next Rs. It is an indirect tax collected by the State Government in Maharashtra. On a brighter note, the 1% stamp duty waiver . Any person can apply to the Collector of Stamps for adjudication of the stamp duty payable on the instrument. It's worth noting that the stamp duty rate is the same for both residential and commercial properties for a period of up to 60 months. 4.90 for every Rs. ARTICLES OF ASSOCIATION OF A COMPANY Where the Company has no share capital or nominal share capital or increased share capital. (iv) for a period exceeding 29 years , or in perpetuity, or does not purport for any definite period, or for lease for a period exceeding 29 years, with a renewal clause contingent or otherwise. (ii) when authorizing to sell or transfer immovable property without consideration or without showing any consideration, as the case may be, -, (a) If given to the father, mother, brother, sister, wife, husband, daughter, son, grandson, granddaughter or father, mother, brother or sister of the spouse; and. Provided that in case of instrument executed by consortium of banks, the duty chargeable shall not exceed 50 lakhs. 0.2%. This amount is paid, by purchasing the stamp paper of value you owe to the government. The amount of Stamp Duty payable depends on type of instruments. e.B. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). For license agreemnt there is stamp duty & registration charges it is calculated as Total rent+ Deposit X 0.025. By Notification dated 28th March 2020, the Government of Maharashtra had announced a concession in Stamp Duty rate @ 1% for 2 years with effect from 1st April 2020. In cases of Bonds, Release, Settlement, it is to be paid by the person making or drawing the instrument. In Mumbai, three per cent of prevailing ready reckoner rates has to be paid as stamp duty on gift deeds. Stamp Duty on lease agreement in Maharashtra 2. You have to pay a stamp duty while registering the rent agreement, which will vary, depending on the city where it is registered. What was Stamp Duty At The Time Of Agreement Dates 10-12-1985 and 04-07-1980? STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11, ARTICLE 39 MEMORANDUM OF ASSOCIATION OF A COMPANY (Detailed chart attached). In August 2020, Maharashtra Government announced that they are reducing the stamp duty for the next three months. Stamp duty on foreign currency loan agreements is generally capped at RM2,000. Signature of the Officer. Articles of any association not formed for profit and registered under section 25 of the Companies Act, 1956 See also Memorandum of Association of a Company (Article 39). // -->