or by any other system of payment as may be notified by the state government in this behalf, in respect of such instruments, as may be specified in the notification passing through their system or related to their functioning of which registration is not compulsory. Circular w.e.f. See also Settlement (Article 55). Insection 40of the principal Act, after the words hereinafter prescribed the words with the prior approval of the Additional Controller of Stamps, Mumbai for the areas in Mumbai City and Mumbai Suburban Districts and for the other areas the Deputy Inspector General of Registration and Deputy Controller of Stamps shall be added. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. All agreements for leave and license must be stamped and registered. The same duty as is leviable on Conveyance under clause (a), (b) or (c), as the case may be, of article 25 on 50 % of the market value of the property. 9.13 Time limit for filing Application for refund of stamp duty : Date of execution of Agreement to Sale: Date of Registration :Cancellation of registered instrument described under Article 25 of schedule I. 10,00,000. PDF Schedule I and II to THE MAHARASHTRA STAMP ACT (BOM. ACT LX OF 1958) 9.15 Mandatory provision for furnishing information called by CCRA or any authorized Officer. Insection 72of the principal Act, (i) in clause (a) the word and shall be deleted; (ii) after clause (a), the following clause shall be inserted, namely : (a-a) powers conferred on it by clause (b) of section 9, to the Additional Controller of Stamps, Mumbai or any other officer; and.. 100/- any fraction of Rs. 10.1 Deletion of requirement to round off duty amount. T he governor of Maharashtra, in exercising powers conferred in him vide article 213(1) of the constitution of India, passed the Maharashtra Stamp (Amendment and Validation) Ordinance, 2021, on 5 February 2021. Buy Now Mumbai's stamp duty Stamp duty in Mumbai varies based on the location of the property and the kind of deed. Mudrank-2022/C.R.No.78/M-1 (Policy) issued by Revenue and Forest Department dated 01.04.2022 wherein the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. Drafted and reviewed various agreements such as Producer, Line Producer, Director, Artist, Music Producer, Endorsement, Service, In-Film Branding Agreements. A document which is not stamped, though required to be stamped or is a under stamped, is not by that reason, invalid as between the parties. Conveyance has been defined to include: every decree or final order of any Civil Court. GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59). 478 of 2022 ('Tata Autocomp') granted interim relief by directing Maharashtra Government to refrain from levying Stamp Duty under Article 29 (Article 24 in Bombay Stamp Act, 1958) of Schedule I of the Maharashtra Stamp Act, 1958 ('Stamp Act') on Bill of Entry ('BOE . With the aim to increase revenue from stamp duty, the state government has decided to charge 3% of the ready reckoner rates of land as stamp duty if a flat is gifted to a blood relation. Once Stamp Duty Paid On Development Agreement, No Separate Stamp Duty % Explanation II. (a) Where the leave and license agreement purports to be for a term not exceeding 60 months with or without renewal clause. STAMPS TO BE USED -- Non-Judicial Stamp Paper (NJ) under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. The Ready Reckoner is also available online on the IGR website. The act basically specifies the amount to be paid to state authorities. as mentioned in sub-section (1) as a proper officer for defacing the challan and making the endorsement on such instruments. 19 May, 2017, 10.37 AM IST. As per Maharashtra Stamp Act, all instruments are chargeable with Maharashtra stamp duty. ], A. *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. 100. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. . <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.2 842.4] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> It is an indirect tax collected by the State Government in Maharashtra. // -->