(1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884), or by their sureties as security for the repayments of such advances. * The amount of stamp duty has been calculated as per the provisions of Maharashtra Stamp Act( Bom. 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. Press Releases. 25,00,000. 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. 100/- and fractions of less than Rs. 0.2%. if relating to transfer of tenancy of immovable property, for every square meter of the area of the tenanted property the right of tenancy in which is the subject matter of transfer and situated Within the limits of--, (i) the Municipal Corporation of Greater Bombay--. 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 such property. 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 Union Government notified Part I of Chapter IV of the Finance Act, 2019 and promulgated the Indian Stamp (Collection of Stamp- Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019.The Amendment seeks to: address the stamp duty regime recognising the technological changes in the field of financial securities, which today are primarily, done electronically through the stock exchange or through authorized clearing corporations and the depositories; and, provide for a centralized collection mechanism under which the stamp duty is to be collected at one place by one agency (i.e. 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. Immovable property land, house or flat can now be transferred to one's children or blood relatives without paying stamp duty for registration. 0.3% of the amount secured by such deed subject to maximum of Rs. (a) when possession of the property or any part of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given; The same duty as is leviable on a conveyance under clauses (a), (b) or (c), as the case may be, of Article 25, for the amount secured by such deed. 10,00,000. . The Governor of Maharashtra promulgated the Maharashtra Stamp (Amendment and Validation) Ordinance, 2021 on February 09, 2021. Insection 39of the principal Act, in sub-section (1), in sub-clause (b), in the first proviso, for the word double the words four times shall be substituted. 1,00,00,000 or part thereof of the value of security, (b) if relating to purchase or sale of securities, other than those following under item (a) above,-, Re.0.20 for every Rs.10,000 or part thereof, (c) if relating to futures and options trading, (d) if relating to forward contracts of commodities traded through and association or otherwise. depending on Until April 2020, Maharashtra stamp duty has been reduced for two years in areas under Mumbai. (c) When a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above-mentioned purpose where the principal or primary security is duly stamped. 18. 0.5 % of the amount agreed in the contract. 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. (a) where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000; (b) where such share contribution brought in by way of cash is in excess of Rs. Under Section 17 of the . if(MSFPhover) { MSFPnav2n=MSFPpreload("../_derived/home_cmp_Profile110_home.gif"); MSFPnav2h=MSFPpreload("../_derived/home_cmp_Profile110_home_a.gif"); } See also Certificate or other Document (Article 17). AFFIDAVIT, that is to say, a statement in writing purporting to be a statement of facts, signed by the person making it and confirmed by him on oath or, in the case of persons by law allowed to affirm or declare instead of swearing, by affirmation. Memorandum of any association nor formed for profit and registered under section 25 of the Companies Act, 1956, (I of 1956). If the property is sold by Govt. If you are a registered user, fill in the login details. Works Contract, that is to say, a contract for works and labour or services involving transfer of property in goods (whether as goods or in some other form) in its execution and includes a sub contract,-. Conditions (1) Maharashtra Housing and Area Development Authority (MHADA) must certify that the Project is an approved project under the Pradhan Mantri Awas Yojana- Housing for All (Urban). ADOPTION DEED, that is to say, any instrument(other than a Will) recording an adoption or conferring or purporting to confer an authority to adopt. endobj With an intent to bring uniformity in rates of . // -->