stamp duty on trademark license agreement in mumbai

As per Article 5(h)(B) of Schedule I of the Act, read with Section 4 of the Act and as per the latest judgement of Bombay High Court on writ petition of Prabha Laxman Ghate and PIL of Chandrakant Nanekar, the stamp duty on free flats/ galas given to owner of the land by the developer is chargeable with Rs. No. See also Letter of Allotment of Shares (Article 37); Explanation. The stamp duty on rent agreement you pay in Mumbai is governed by the Bombay Stamp Act, 1958. Similarly, Stamp Duty under above Article in rest of Maharashtra State was reduced by Two percent (2%) for the period starting from 1st September, 2020 and ending on 31st December, 2020 and by One Half percent (1.5%) for the period starting from 1st January, 2021 and ending on 31st March, 2021. 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. If the stamp duty is on ad valorem basis then the amount varies on the basis of value of the products, services or property on which it is levied. 10B. From 1st January 2021, people were to pay a 3% stamp duty on the property value. // -->. 100/- any fraction of Rs. You can get the eSBTR on giving a printout of proof of payment online at nominated branches of the bank. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. 100. (parseInt(navigator.appVersion) >= 3 )) || Malaysian Ringgit (RM) loan agreements generally attract stamp duty at 0.5% However, a reduced stamp duty liability of 0.1% is available for RM loan agreements or RM loan instruments without security and repayable on demand or in single bullet repayment. through the stock exchanges or clearing corporations authorized by the stock exchange or by the depositories) on one instrument, In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of. ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. It is a tax paid to the government, similar to the income tax. 50. See also Settlement (Article 55). In August 2020, Maharashtra Government announced that they are reducing the stamp duty for the next three months. (a) if the amount agreed does not exceed Rs. Stamp duty on lease agreements. It should be for consideration. 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. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. ), Addresses of the parties, Document name that is the LLP agreement and; Stamp Paper Value. 100. A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. The eSBTR is a receipt of duty paid to the government. But since most service agreements have an indemnity clause, the same is to be read with entry 34 of the same act, i.e. So, if someone is transferring his property to their children, spouse or siblings though a deed of gift, they have to pay three per cent of the deal value as stamp duty. Earlier, if the resale of such Immovable Property took place within one year of purchase, the stamp duty payable would only be on the difference of the property rates calculated in the purchase price and the resale price, and not on the entire consideration amount when the property is resold. 20,00,000/-. In simple terms, we can call Stamp Duty as Price of Stamp paper. Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. If you want to do it yourself, the fee is INR 1,000 if your property is under the jurisdiction of the Municipal Corporation, and INR 500 if your property is . It is imposed by states and therefore, the rates will vary from one state to another. Stamp duty on foreign currency loan agreements is generally capped at RM2,000. Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. (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. Controller of Stamps ,Mumbai/Designated Officers. 2.2 The stamp papers must be in the name of one of the parties to the transaction. 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. The registration fee is 1.05%. 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. 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. ARTICLES OF ASSOCIATION OF A COMPANY Where the Company has no share capital or nominal share capital or increased share capital. GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59). (i) where the Trust is made for a religious or charitable purpose; 2% of a sum equal to the amount settled or market value of the property settled. // -->