stamp duty on trademark license agreement in mumbai

Both the Parties of the agreement are also situated in Maharashtra. 9.11 Deficient portion of stamp duty : amount of maximum penalty increased. Stamp Duty charges vary from one state to another and may depend on gender, municipal areas or income groups within the state too. Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on, Explanation II. Stamp Duty The e-stamping Portal will be integrated with myTax Portal. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. According to a FPJ report, in Mumbai, revenue expected through metro cess for 2022-23 is Rs 1000 crore. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Special Adhesive Stamp affixed by Proper Officer under Rule 11. A.Hi, Stamp duty and Registration Charges differ from one state to another. Stamp duty rate: The rates at which stamp duty is charged in various Indian states at present range from 4 per cent to 10 per cent. Instrument of gift has been defined to include, where the gift is of any movable or immovable property but has not been made in writing, any instrument recording whether by way of declaration or otherwise the making or acceptance of such oral gift. 10.2 Amendment in Article 1 of Schedule I, In SCHEDULE I of the principal Act , in Article 1, in clause (1),-, exceeds rupees 10,000 but is less than rupees 10,00,000; and, 11.1Amendment of SCHEDULE I appended to Maharashtra Stamp Act. Tenancy agreement in Maharashtra When renting a property, landlords and tenantsmust engage in proper documentation to make the rental agreements legally binding. on the refundable security deposit or money advanced or to be advanced, by whatever name called. The same duty as is leviable on a Conveyance under clause (a), (b) (c), as the case may be, of Article 25, on the market value of the property of the greatest value. 1983). (i) where the trust is made for a religious or charitable purpose. 20 lakhs. 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. or Semi-Govt. 394 of the Companies Act, 1956 or the order of the National Company Law Tribunal under sections 230 to 234 of the Companies Act, 2013 or every confirmation issued by the Central Government under section 233 (3) of the Companies Act, 2013, in respect of amalgamation, merger, demerger, arrangement or reconstruction of the companies ( including subsidiaries of parent company ); and every order made by the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies and every order made by the Board for Industrial and Financial Reconstruction under section 18 or 19 of the Sick Industrial Companies (Special Provisions) Act, 1985, in respect of sanction of Scheme specified therein or every order made by the National Company Law Tribunal under section 31 of the Insolvency and Bankruptcy Code, 2016, in respect of approval of resolution plan. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. The licensor is responsible for registering the leave and license agreement with the government; non-registration of a leave & license agreement also leaves the licensor responsible for a monetary fine or incarceration, in addition to the possibility of pushing the premises into litigation. ARTICLE 37 LETTER OF ALLOTMENT OF SHARES. as they are worded or drafted. 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. LLP Agreement Stamp Duty | Stamp Duty for LLP Deed LLP agreement filing with the Ministry of Corporate Affairs is the last leg for LLP Incorporation . You have to pay a stamp duty while registering the rent agreement, which will vary, depending on the city where it is registered. The existing ceiling of stamp duty payable on an agreement relating to deposit of title deeds, pawn, pledge or hypothecation where the amount secured exceeds Rs.5 lakhs stamp duty has been amended to 0.3% of the amount secured subject to a maximum of Rs. Just like the Stamp Duty, the registration charges in Mumbai are also set by the Maharashtra Government. Follow these steps, to pay your stamp duty online: Step 1: Visit the Maharashtra Stamp Duty online payment portal. The registration charges on this deed would be based on the deal value, too . The authenticity of the Stamp Certificate can be verified at Authorised Collection Centers (ACCs), SHCIL Offices and Sub-registrar Offices (SROs). To login, select "Stamp Duty" and Login as "Individual User" or "Business User". bodies or local authorities e.g. Enter the details and pay the duty through your Internet banking account. Registration charges in Mumbai for a property worth Rs. Here is how are two charges he needs to pay to register this property. 5. Stamp Duty on Rental Agreement. 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. 10,00,000. 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. What is Stamp Duty? It may be noted that now adjudication is compulsory in all cases where an instrument is required to be adjudicated as per Ready Reckoner before registration as the Registrar of Sub-Assurances insists upon the same. Stamp duty on lease agreements Stamp duties are payable pursuant to Section 3 of the Indian Stamp Act, 1899. W.e.f. The concession is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Pimpri Chinchwad. In the State of Maharashtra stamp duty on issue of share certificates is 0.1 per cent on the value of the share certificate inclusive of premium, if any, under Article 17 of Schedule I to Maharashtra Stamp Act, 1958. ARTICLE 36A LEAVE AND LICENSE AGREEMENT. It should be for consideration. (a) for or relating to the purchase of sale of goods or merchandise exclusively, not being an agreement or memorandum of agreement chargeable under entry (d), entry (e), entry (f) or entry (g) of this Article or a note or memorandum chargeable under Article 43; AGREEMENT TO LEASE: See Lease (Article 36). _______ paid in *cash/by demand draft/by pay order/e-Challan, vide Receipt/Challan No._______________/GRN No._______________CIN_____________ dated the ___________. The same duty as is leviable on a conveyance under clause (a), (b) or as the case may be (c) of Article 25, on the market value of the share, interest, part or claim renounced. (v) assignment of copyright under Copyright Act, 1957, -, (vi) project under Built, Operate and Transfer (BOT) system, whether with or without toll or free collection rights,-. 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). Patents The Patents Act does not contain any restrictions on the assignment of a licence. 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. This agreement is similar to a lease agreement . Fully Online. ), Addresses of the parties, Document name that is the LLP agreement and; Stamp Paper Value. Any officer not below the rank of Collector having sufficient reason to believe that, it is necessary to inspect or call for any registers, books, records including a diskette, magnetic cartridge tape, CD-ROM or any other computer readable media or any electronic record mentioned under clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000, papers, documents, instruments or proceedings which may lead to the discovery of any fraud or omission in relation to any duty, shall, at all reasonable times may himself or through any officer authorised by him in this behalf, who shall be not below the rank of Gazetted GroupB officer or Sub-Registrar, Grade-I appointed under the Registration Act, 1908 or Inspector of Stamps, enter in any premises and inspect the same in the custody of any person, office, firm or any other entity and take such notes and extracts as he may deem necessary, without payment of any fee or charge, and if necessary, seize and impound only the chargeable documents as per the provisions of section 33 . (1) having area upto 27.88 squares meters (300 square feet); Rs. 1 by Impressed Stamp Fixed by Proper Officer. (iv) for a period exceeding 29 years , or in perpetuity, or does not purport for any definite period, or for lease for a period exceeding 29 years, with a renewal clause contingent or otherwise. 1stApril, 2021. Individuals, small enterprises, or startups must file with the TM application by paying a fee of 4,500 for e-filing or 5,000 for filing by hand Based on the type of TM applied as per the stamp duty act, one needs to pay 5% stamp duty per TM application or assignment submitted Forms of Identification On a brighter note, the 1% stamp duty waiver . Stamp Duty Consultant & Registration of all types of Documents; Registration of Firm, Property, Brand, Logo, Trademark; Leave & License Agreement (Online Registration) Notice of Intimation . as mentioned in sub-section (1) as a proper officer for defacing the challan and making the endorsement on such instruments. 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. Certain departments, organisations, Institutions etc., to ensure payment of stamp duty 16 11. 10,000 Plus renewal fee applicable under entry 3. [Title] So we have rented a flat in Mumbai, the owners include me, my mom and my sister. The term "Instrument" has been defined to include every document by which any right or liability is or purports to be created, transferred, limited, extended, extinguished or recorded. As mentioned in this order 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 shall stand reduced to 1% subject to certain conditions, if all the purchasers are female. Further it has to be paid on time to avoid penalty. The same duty as a conveyance under clause (a), (b), or (c), as the case may be, of Article 25, for a sum equal to the amount settled or the market value of the property settled. Stamp Duty Rates for Leave & Licence Agreement Calculate NOTE: Calculation is for a period of 12 months, irrespective of period of leave & licence, and includes any advance rent paid or to be paid and further includes any deposit made or to be made, with or without any interest. This tax is referred to as stamp duty. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. Insufficiently stamped documents are not admitted as evidence in the court. such agreement, records thereof or memorandum, as they apply to an instrument under that section: Provided further that, if the proper stamp duty is paid under clause (g) of article 48 on a power of attorney executed between the same parties in respect of the same property then, the stamp duty under this article shall be one hundred . 5 (h) impressed stamp under Rule 6, ARTICLE 6 AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, that is to say, any instrument evidencing an agreement relating to--. { Rs. 9.17 Punishment for prevention or obstruction to entry of Officer exercising powers u/s. This amount is paid, by purchasing the stamp paper of value you owe to the government. They cannot be in the name of the Chartered Accountant or Lawyer of the parties. 50/- while Stamp Duty for Rent Agreement in Bangalore is Rs. Explanation III. Now, Let's discuss the Stamp Duty in State-Delhi. In case an instrument is so drafted that it is covered within the ambit of more than one Article under Schedule I, then it shall be taxed by that Article which levies the highest amount of stamp duty. 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 the property which is the subject matter of the gift. (1) Instrument of any partnership inclusive of ,Limited Liability Partnership and Joint Venture to run a business ,earn profits and to share profits ,whether in cash or in kind-. EXCISE BOND, See Customs Bond or Excise Bond (Article 28). It does not include the instrument or document/s executed between the original purchaser from the project Proponent/s and the subsequent purchaser of a residential unit located in the said area. 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. (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. Further it has to be paid on time to avoid penalty. 43 (b).The parties cannot rely on statements or conduct outside the License Agreement to establish any right or duty beyond or contrary to those expressly provided in or limited by the License Agreement. RECORD OF TRANSACTION (Electronics or otherwise) effected by a trading member through a stock exchange or the association referred to in Section 10 B-, (a) if relating to sale and purchase of Government securities, Rs.50 for every Rs. The instruments specified in the Schedule-I to the Act are covered by this Act. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). the Stamp Duty payable under Article 25(b) of Schedule 1 of the Bombay Stamp Act, 1958. 100/- any fraction of Rs. - For the purposes of this Article, return of money paid as advance, on security deposit by lessee to the lessor shall not be treated as consideration for the surrender. Maximum 400%. (c) where such share contribution is brought in by way of property, excluding cash. Stamp Duty is payable in full and is to be paid on the deadline. 100/- need to be paid as stamp Duty for Gujarat Property Registration. 9.2 Several instruments used in a single transaction: Development Agreement, Sale and new instrument (Lease) included along with mortgage or settlement. According to the Maharashtra Stamp Act, each document require stamp with proper stamp duty and with the proper mode. Stamp Duty in Mumbai Based on Area Type. In Case Duty Exceeding Re. 20/- and in Gujarat is Rs. 0.1% of the value of the shares ,scrip or stock. 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. 2. Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. Thanks. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. An instrument covering or relating to several distinct matters is chargeable with the aggregate amount of duty with which each separate instrument would have been chargeable. See also Settlement (Article 55). There are a host of legal formalities involved. . STAMPS TO BE USED- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule 10(ii), MORTGAGE DEED, not being an agreement relating to Deposit of Title Deeds, Pawn or Pledge or Hypothecation (Article 6), Bottomry Bond (Article 14), Mortgage of a Crop (Article 41), Respondentia Bond (Article 53), or Security Bond or Mortgage Deed (Article 54)-. Insection 32Aof the principal Act, (i) in sub-section (1), after the words by way of assignment the following portion shall be inserted, namely : and also any other instruments mentioned in SCHEDULE I chargeable with duty on the basis of market value of the property; (ii) in sub-section (2), in the third proviso, for the word double the words four times shall be substituted; (iii) in sub-section (4), (a) the first and second provisos shall be deleted; (b) in the third proviso, for the word double the words four times shall be substituted. Control Act, 1999. 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,-. 0.2%. 100. 100/- equal to or exceeding Rs. For license agreemnt there is stamp duty & registration charges it is calculated as Total rent+ Deposit X 0.025. Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. From 1st January 2021, people were to pay a 3% stamp duty on the property value. As per the Order dated 31st March 2021 Government has introduced concessional stamp duty rate for Female homebuyers. // -->. if(MSFPhover) { MSFPnav3n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav3h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } The upper limit is twenty thousand rupees (rule 20,000/-) and the lowest is rupee five hundred (rule 500/-). In the absence of any such agreement, the Act provides that in the case of a Conveyance, duty is to be paid by a buyer and by the lessee in case of a lease. It is a tax paid to the government, similar to the income tax. In India there are 29 States and Stamp Duty varies in each State for ex: The Stamp Duty for Rent Agreement in Delhi is Rs. 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. 50/- shall be disregarded. SURRENDER OF LEASE including an agreement for surrender of lease--. While Buying a Non-Judicial Stamp Paper you need to provide the following details: Names of parties to the agreement (First party, second party, etc. 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. (g) when given to a promoter or developer by whatever name called, for construction on, development of, or sale or transfer (in any manner whatsoever) of, any immovable property. ], A. For Land, Flat, Shop, Office and Industrial Unit etc. does not require adjudication & can be registered directly by payment of proper Stamp Duty. Provided further that, when proper stamp duty is paid under clause (g- a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be Rs. 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. 5,00,000; 0.1% of the amount secured by such deed subject to the minimum of Rs. 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. 3. 4. Stamp duty refers to a tax on a transaction which is paid to the government and the tax is levied on the instrument recording the transaction. If on adjustment, no duty is required to be paid then a minimum duty for the conveyance shall be Rs. APPLICABILITY The Maharashtra Stamp Act extends to the whole of the State of Maharashtra. An application to register the title of a person who becomes entitled by assignment is made on Form TM-P. (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. Step 2: Click 'Pay Without Registration' if you are not registered with the portal. 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(MSFPhover) { MSFPnav8n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav8h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } 100/-. If you are a registered user, fill in the login details. 2. Generally, the stamp duty is paid by the buyer, in some cases, the buyer and seller decide to split the stamp duty as per an earlier signed agreement. (ii) an amount equal to 0.7 %, of the aggregate of the market value of the shares issued or allotted in exchange or otherwise and the amount of consideration paid, for such amalgamation, whichever is higher: Provided further that, in case of reconstruction or demerger the duty chargeable shall not exceed, -, (i) an amount equal to 5 % of the true market value of the immovable property located within the State of Maharashtra transferred by the Demerging Company to the Resulting company; or. Further, any public officer can impound such improperly stamped instruments if it comes to his notice. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). Any person can apply to the Collector of Stamps for adjudication of the stamp duty payable on the instrument. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. Aftersection 68of the principal Act, the following section shall be inserted, namely : 68A. (1) Any such individual, institution, organization, company or a body responsible for creating, executing, maintaining, recording, verifying an instrument chargeable with duty as may be notified by the State Government in the Official Gazette, shall, when called upon by any officer specifically authorised by the Chief Controlling Revenue Authority in this behalf, furnish information in the form and within the time limit specified by the Chief Controlling Revenue Authority. Who bears and pays the stamp duty is a matter of agreement between the parties. However, same is not available in the case of Resale and other types of instruments. (((navigator.appName == "Netscape") && Insection 30of the principal Act, (a) in clause (f), the word and shall be deleted ; (b) after clause (f), the following clause shall be inserted, namely : (f-a) in case of instruments of works contract as provided in Article 63 of SCHEDULE I, by the person receiving the contract;. This section deals with Stamp Duty on instruments (written documents). Stamp duty on mortgage under article 40(b) of schedule I of the Act, when possession is not given or agreed to be given and if the amount secured is less than Rs.5 lakhs then the Stamp Duty shall be 0.1% of the amount secured subject to a minimum of Rs.100. In Maharashtra, leave and license agreements are required to be stamped, with a flat stamp duty . 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. 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