Stamp Duty Payable On Agreement To Sell In Maharashtra

The Maharashtra Stamp Act was passed in 1958 and applies to all Schedule 1 instruments on which stamp duty must be paid to the state. The legislation has recently been amended and the amendments include a review of stamp duty on donation deeds, the inclusion of electronic stamp duty payment, the modification of punitive clauses and the increase in stamp duty under certain instrument clauses. 4.4 In addition, s.14 prohibits the letter of a second taxable instrument on a stamp on which a taxable instrument has already been written. In accordance with Article 34 of the Maharashtra Stamp Act, amended in 2017, stamp duty on donation deeds is 3% of the value of the property. However, if the property in question is a residential or agricultural property that is given (without payment) to family members, the stamp duty is 200 Rs. 2.1 It is very important to note that stamp duty is on an instrument and not on a transaction. He also noted that stamp duty could not be recovered at the current rate for previous instruments that had been executed at a time when the instrument was not responsible for stamp duty, since at the time considered, these documents could not be considered «unstamped» or «insufficiently stamped». In the absence of clear provisions in the law regarding the retroactive collection of stamp duty, stamp authorities are not entitled to insist on the payment of stamp duty on earlier instruments that are part of the chain of documents. Turnover brands are often used by all sectors of society, especially with the payment of money. Unit value: Re. 1.00 Use: Payment Reception 4.7 Whoever bears and pays stamp duty is a matter of agreement between the parties.

In the absence of such an agreement, the law provides that in the case of transport, the tax must be paid by the buyer and, in the case of a lease agreement, by the taker. In the case of obligations, unlocking, settlement, it is paid by the person who or the subscription of the instrument. In the event of an exchange, they must be paid equally by the parties and, in the event of division, by the parties in proportion to their respective shares.