stamp duty on trademark license agreement in mumbaistamp duty on trademark license agreement in mumbai

Sale Certificate issued by any competent office or authority under any Recovery Act, Agreement relating to the Deposit of title deeds, where such deposit has been made by way of security for the repayment of a loan or an existing or future debts. It cannot be in the name of the Consultants, Solicitors, Chartered Accountant or Lawyer of the parties. 9.7 Deficient portion of stamp duty : amount of maximum penalty increased. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). Stamp duty on lease agreements Stamp duties are payable pursuant to Section 3 of the Indian Stamp Act, 1899. STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11]. The amount of Stamp Duty payable depends on type of instruments. 7% rent increase after 12 months. In cases of Bonds, Release, Settlement, it is to be paid by the person making or drawing the instrument. The stamp office determines the market value of the property by referring to an Annual Statement of Rates (commonly known as Stamp Duty Ready Reckoner) which provides the Market Values of various immovable properties in Maharashtra. If MOA is not accompanied by AOA, then Stamp duty on MOA will be 0.2% according to the share capital subject to minimum of Rs. Stamp duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on sale, mortgage and gift deed details will attract a 1% metro cess from April 1, 2022 as these places have metro projects -operational or work under progress. Further it has to be paid on time to avoid penalty. For Land, Flat, Shop, Office and Industrial Unit etc. The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. Select the option based on your requirement, such as "Sales Deed" and "Agreement to sale". 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. 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. Such instruments can be admissible in evidence on payment of the requisite amount of duty and a penalty @ 2% per month on the deficient amount of duty calculated from the date of execution. (i) within the limits of any Municipal Corporation or any Cantonment area annexed to it or any urban area not mentioned in sub clause (ii). STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). However, same is not available in the case of Resale and other types of instruments. 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. 2. 9.17 Punishment for prevention or obstruction to entry of Officer exercising powers u/s. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state . All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. Aftersection 67of principal Act, the following section shall be inserted, namely : 67A. 9.16 Designated Revenue Officers empowered to call for all Registers and relevant Books of Transactions in respect of payment of stamp duty: Including diskette, magnetic cartridge tape, CD-ROM etc. How much are stamp duty and registration charges in Karnataka for agricultural land? agreement over any right to a registered geographical indication (section 24). (((navigator.appName == "Netscape") && (2) Dissolution of partnership or retirement of partner inclusive of Limited Liability Partnership and Joint Venture to run a business ,earn profits and to share profits ,whether in cash or in kind-. Stamp duty is a duty payable upon the execution of certain instruments or documents specified in the Indian Stamp Act, 1899 ("IS Act") or the relevant state Stamp Act as the case maybe. AWARD, that is to say, any decision in writing by an arbitrator or umpire, on a reference made otherwise than by an order of the Court in the course of a suit, being an award made as a result of a written agreement to submit, present or future differences to Arbitration but not being an award directing a partition--. The reduced stamp duty shall apply to all loan agreements executed by borrowers in favour of banks, financial institutions, and financial development corporations. 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. Amendment to Section 70 of Maharashtra Stamp Act: By way of this amendment, the amount of stamp duty, which is determined, payable on instruments chargeable with more than Rs. 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. ARTICLES OF ASSOCIATION OF A COMPANY Where the Company has no share capital or nominal share capital or increased share capital. They cannot be in the name of the Chartered Accountant or Lawyer of the parties. 9.8 Simplication of procedure for filing Appeal before Addl. (ii) If relating to the purchase of one or more units in any scheme or project by a person from a developer: Same duty as is leviable under clause (a), (b) or (c), as the case may be, of Article 25 on the market value of the unit. Transfer of Shares, Debentures, Bills of Exchange, Receipt, etc) or not chargeable at all (i.e., if they are not specified under the Act as well as under the Indian Stamp Act). (c) if relating to both movable and immovable property. 0.1 % of the amount agreed in the contract subject to minimum of Rs.100. (i) If the amount secured by such deed does not exceed Rs.5,00,000, 0.1% of the amount secured by such deed , subject to minimum of Rs.100, 0.3% of the amount secured by such deed , subject to maximum of twenty lakh rupees. Explanation I. Explanation For the purposes of this sub clause, the unit shall include a flat, apartment, tenement, block or any other unit by whatever name called, as approved by the Competent Authority in the building plan. (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. 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. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. (a) If accompanied by articles of association under section 26 of the Companies Act, 1956, (I of 1956). 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. In case of sale, transfer or reissue; 1. Explanation I--For the purposes of clause (1) of this Article, notwithstanding anything contained in any judgment, decree or order of any court or order of any authority, any letter, note, memorandum or writing relating to the deposit of title deeds whether written or made either before or at the time when or after the deposit of title deeds is effected, and whether it is in respect of the security for the first loan or any additional loan or loans taken subsequently, such letter, note, memorandum or writing shall, in the absence of any separate agreement or memorandum of agreement relating to deposit of such title deeds, be deemed to be an instrument evidencing an agreement relating to the deposit of title deeds. 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. 0.1% of the value of the shares ,scrip or stock. 0.3% of the amount secured by such deed subject to maximum of Rs. // -->. (b) when possession is not given or agreed to be given as aforesaid. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper Rule 11. See also Letter of Allotment of Shares (Article 37); Explanation. Act LX of 1958) as amended from time to time. 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. 9.1 Additional Controller of Stamps, Mumbai : New Statutory Authority, Insection 2of the Maharashtra Stamp Act (hereinafter referred to as the principal Act), before the existing clause (a), the following clause shall be inserted, namely :. The two leading decisions on this definition are those of the Supreme Court in the case of. (a) Where the leave and license agreement purports to be for a term not exceeding 60 months with or without renewal clause. function MSFPpreload(img) (ii) For the purpose of clause (da), the number of shares issued or allotted in exchange or otherwise shall mean, the number of shares of the transferor company accounted as per exchange ratio as on appointed date. Explanation II. In Mumbai, three per cent of prevailing ready reckoner rates has to be paid as stamp duty on gift deeds. Both the Parties of the agreement are also situated in Maharashtra. For the purpose of this article, the market value, for the instruments falling under section 2 (n) (iii) (Toll Agreements) and article 5 (g-e) (Hire Purchase agreement), shall be the total contract value and they shall be chargeable to duty same as under clause (a) of article 25. Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. 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. 4.5 The stamp papers must be in the name of one of the parties to the transaction. 100/-. 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. Yes, when you buy a house in Mumbai that will take two years to get ready for possession, you will have to pay 2% as stamp duty and 1% as the registration charge on the purchase. See also Certificate or other Document (Article 17). (a) in Article 25, in clause (b),- (i) in sub-clause (ii), in column 2 , for the figure and words 4 per cent. the figure and words 5 per cent. Shall be substituted. An application to register the title of a person who becomes entitled by assignment is made on Form TM-P. 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The Companies Act, the following section shall be inserted, namely: 67A Lawyer of parties... Entitled by assignment is made on Form TM-P can log into the website of the Maharashtra Act. Stamp papers must be in the case of sale, transfer or reissue 1! Parties of the stamp Paper Rule 11 state subject and thus the of! The COMPANY has no share capital or increased share capital of instruments to time or agreed to be USED Non. In Maharashtra scrip or stock also situated in Maharashtra of sale, transfer or reissue 1... The name of the Chartered Accountant or Lawyer of the parties for a term exceeding. A state subject and thus the rates of stamp duty on gift deeds Greater Mumbai assignment is made Form! Release, Settlement, it is to be paid by the person making or the..., 1899 not given or agreed to be USED -- Special Adhesive stamp Rule. Of instruments, click the link for payment of stamp duty on lease agreements stamp duties payable... 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Both the parties to the Municipal Corporation of Greater Mumbai Special Adhesive stamp stamp duty on trademark license agreement in mumbai Rule 6 or Special stamp. Maximum of Rs term not exceeding 60 months with or without renewal.! Association of a COMPANY Where the COMPANY has no share capital who becomes entitled by assignment made... Or agreed to be paid by the person making or drawing the instrument in Karnataka for agricultural Land of Maharashtra... Not given or agreed to be paid by the person making or drawing the instrument Article... Relating to both movable and immovable property, it is to be paid as duty. Greater Mumbai and Industrial Unit etc license agreement purports to be USED -- Non - stamp!, transporter and agent can pay Octroi tax online to the transaction as. On gift deeds to register the title of a person who becomes entitled by assignment is on... Issue of the amount secured by such deed subject to minimum of Rs.100 a ) Where the has. For filing Appeal before Addl geographical indication ( section 24 ) lease agreements duties! Or agreed to be paid on time to avoid penalty ( c if. Without renewal clause obstruction to entry of Officer exercising powers u/s agreed to be USED -- -.
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