LEASE, including under lease or sub-lease and any agreement to let or sublet or any renewal of lease--, The same duty as is leviable on a conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 10 % of the market value of the property, (ii) for a period exceeding 5 years but not exceeding 10 years, with a renewal clause contingent or otherwise. 1-5-1994, the date of issue of the stamp paper must not be more than 6 months older than the date of the transaction. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. 50/- while Stamp Duty for Rent Agreement in Bangalore is Rs. The normal stamp duty to be paid is as per clause 5 (c) of schedule 1-A of the Indian Stamp Act applicable to Delhi i.e. See Kelson Cos., Inc. v. Feingold, 309 S.E.2d 394, 396 (Ga.Ct.App. Stamp duty is chargeable on an instrument and not on a transaction. The Explanation to the definition provides that any instrument by which one co-owner transfers his property to another co-owner would be deemed to be a conveyance provided that it is not an instrument of partition. What is stamp duty on gift deed in Mumbai?. Stamp Duty Consultant & Registration of all types of Documents; Registration of Firm, Property, Brand, Logo, Trademark; Leave & License Agreement (Online Registration) Notice of Intimation . A license may apply to any type of IP -trademark, patent, copyright,design and/or know-how. 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--. 30,00,000 is Rs. Depending upon the Instrument, it may be based upon the Market Value, Area, or other various criteria. The state government announced stamp duty reduction on lease agreements on 24th December 2020. From 1st January 2021, people were to pay a 3% stamp duty on the property value. 20 lakhs. 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. TRANSFER (whether with or without consideration). 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. A leave and licence agreement is a contract between a licensor and licensee that allows the latter to occupy the former's property for a certain period. (a) where the amount or value set forth in such contract does not exceed Rs. Provided that, the provisions of section 32A shall,mutatis mutandis, apply to such an instrument of power of attorney as they apply to a conveyance under that section. In Maharashtra, the Stamp Duty rate ranges from 3% to 6% of the total transaction price and is subject to variations based on document type, locality, and other factors. Provided also that where proper stamp duty is paid on a registered agreement to sell an immovable property, treating it as a deemed conveyance and subsequently a conveyance deed is executed without any modification then such a conveyance shall be treated as other instrument under section 4 and the duty of Rs. (b) where there is no disposition of property, --. (a) of a bill of exchange, cheque or promissory note; (b) of a bill of lading, delivery order, warrant for goods or other mercantile document or title to goods; (d) of securities of the Central Government, STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11. 9.10 Section 38of the principal Act shall be deleted. The leave and license agreements should be stamped with a stamp duty charge of 0.25% of the total rent for the period. Stamp Duty Charges: Stamp Duty in Tamil Nadu is the 7 per cent of the guidance value, which will be Rs.3,50,000 for this property. The Penalty on the instruments mentioned in the Appendix is reduced to ten percent of total penalty on the deficient portion of the duty for the period commencing from 1. in sub-clause (c), in column (1) ,the word and shall be deleted; for sub-clause (d) ,the following sub-clauses shall be substituted ,namely:-, AGREEMENT OR ITS RECORDS OR MEMORANDUM OF AN AGREEMENT, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE OR HYPOTHECATION, CLEARANCE LIST FOR HOUSE OF STOCK EXCHANGE, CLEARANCE LIST FOR HOUSE OF COTTON ASSOCIATION, CLEARANCE LIST FOR HOUSE OF A BULLION ASSOCIATION, CLEARANCE LIST FOR HOUSE OF OIL SEED ASSOCIATION, CLEARANCE LIST RELATING TO TRANSACTIONS FOR THE PURCHASE OR SALE OF OIL SEEDS SUBMITTED TO THE CLEARING HOUSE OF A OIL SEED ASSOCIATION. // -->