New Stamp Duty Rates (applicable with effect from 1 July 2020) Stamp Duty Rates applicable prior to 1 July 2020* Issue of securities (other than debentures) through a stock exchange, depositories or otherwise. For the purpose of this article, the market value, for the instruments falling under section 2 (n) (iii) (Toll Agreements) and article 5 (g-e) (Hire Purchase agreement), shall be the total contract value and they shall be chargeable to duty same as under clause (a) of article 25. 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 same duty as is leviable on a Conveyance under clauses (b) or (c), as the case may be, of Article 25, on the market value of the property. Arunachal Pradesh. (c) where such share contribution is brought in by way of property, excluding cash. if(MSFPhover) { MSFPnav7n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav7h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } the following: . The Maharashtra Legislative Assembly have passed a Bill which inter alia extends the set-off period for payment of stamp duty on resale of Immovable Property purchased from developer/ promoter as investment from one year to three years. CQYOn. 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. (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. . 11.2Stamp duty of Rs.1000/- only for property located in areas approved under the Pradhanmantri Awas Yojana subject to certain conditions, No.Mudrank-2015/1745/UOR.24/CR-573/M-1.In exercise of the powers conferred by clause (a) of section 9 of the Maharashtra Stamp Act (LX of 1958) (hereinafter referred to as the said Act) and in supersession of the Government Order, Revenue and Forests Department, No.Mudrank-2015/1745/ U.O.R.24/CR-573/M-1, dated the 1st December 2016, the Government of Maharashtra, being satisfied that it is necessary to do so in the public interest, hereby reduces and fixes the stamp duty to the extent of Rs.1000/-(Rupees One Thousand only) as otherwise chargeable under clause (b) of Article 25 of Schedule-I appended to the said Act, on the first instrument of transaction, between the project Proponent/s and the Purchaser of any unit belonging to the beneficiary of Economically Weaker Section (EWS) or Lower Income Group (LIG) category for the allotment of residential premises as specified in the Schedule appended hereto, relating to the property located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing for All (Urban), a Centrally Sponsored Scheme of the Ministry of Housing and Urban Poverty Alleviation, Government of India, subject to the following conditions, namely:. It cannot be in the name of the Consultants, Solicitors, Chartered Accountant or Lawyer of the parties. --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. In August 2020, Maharashtra Government announced that they are reducing the stamp duty for the next three months. The state government has earned only Rs 15 crore through stamp duty and registration in the last 40 days - a steep fall in comparison to the Rs 4000 crore it usually generates in such a period. Drafted and reviewed various agreements such as Producer, Line Producer, Director, Artist, Music Producer, Endorsement, Service, In-Film Branding Agreements. 2 % of the, amount or the market value of the separated share or shares of the property. Such instruments can be admissible in evidence on payment of the requisite amount of duty and a penalty @ 2% per month on the deficient amount of duty calculated from the date of execution. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. Explanation.-- For the purposes of this clause, the term 'debenture' includes debenture stock; (b) of any interest secured by bond, mortgage deed or policy of insurance; (c) of any property under section 22 of the Administrators' General Act, 1963; (d) of any trust property without consideration from one trustee to another trustee, or from a trustee to a beneficiary. While the amendments to Stamp Act were initially scheduled to come into force on 9 January 2020, however, the Ministry of Finance postponed the effective date of the amendments to 1 July 2020. Instruments executed out of State. (2) Letter of hypothecation accompanying a bill of exchange, ARTICLE 10 ARTICLES OF ASSOCIATION OF A COMPANY. Online Payment of Stamp Duty in Maharashtra without Registration 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. Forsection 68of the principal Act, the following section shall be substituted, namely : 68. 100. 20 lakhs. MCA;- Stamp Duty Rates in Various States. 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.
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