stamp duty on trademark license agreement in mumbai

Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. 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. Under Section 34 of the Act, any instrument which is inadequately/not stamped, then it shall be inadmissible in evidence for any purpose, e.g., in a Civil Court. All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. (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. Seal of the office. The Maharashtra Legislative Assembly have passed a Bill which inter alia extends the set-off period for payment of stamp duty on resale of Immovable Property purchased from developer/ promoter as investment from one year to three years. 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. (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. (a) if the amount agreed does not exceed Rs. 1. Duty can be paid by way of adhesive or impressed stamps or e-franking on the instruments and duly stamped documents are only admitted as evidence in court. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. bodies or local authorities e.g. MHADA, CIDCO, BPT, MC, MIDC etc., or Income Tax Dept. The purchaser has to enter into an agreement with the seller of the flat and the stamp duty is computed as per the agreement value . A license may apply to any type of IP -trademark, patent, copyright,design and/or know-how. 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. 10B. (Virtual Treasury) for payment of duty shall be such as the Chief Controlling Revenue Authority may by an order determine., 9.4 Fixing liability of payment of stamp duty even on unregistered documents, Aftersection 10Cof the principal Act, the following section shall be inserted, namely :, 10D. (1) The deposit of title deeds or instrument constituting or being evidence of the title to any property whatever (other than a marketable security), where such deposit has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt; (a) if the amount secured by such deed does not exceed Rs. By Notification dated 28th March 2020, the Government of Maharashtra had announced a concession in Stamp Duty rate @ 1% for 2 years with effect from 1st April 2020. 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. The stamp duty on rental agreements consists of a flat charge of 0.25% of the total rent for the time that must be applied to all leave and license agreements. 22-12-2011: As per new circular from IGR, the old agreement, which has expired 8 months period from the date of execution cannot be registered. 5,000, is leviable with Re. 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. 100/- equal to or exceeding Rs. Usc of adhesive stamps. 100/- need to be paid as stamp Duty for Gujarat Property Registration. A Leave and License Agreement is an agreement wherein the licensor temporarily allows the licensee to use and occupy licensor's immovable property, either full or a portion of it, for the purpose of carrying out business activity or for residential use. Note.--The largest share remaining after the property is partitioned (or, if there are two or more shares of equal value and not smaller than any of the other shares, then one such equal shares) shall be deemed to be that from which the other shares are separated. This amount is paid, by purchasing the stamp paper of value you owe to the government. STAMPS TO BE USED -- Special Adhesive Stamp with word Notarial (section 11) Rule 19(d). 1000 and maximum of Rs.50,00,000. 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. Now, Let's discuss the Stamp Duty in State-Delhi. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. Who bears and pays the stamp duty is a matter of agreement between the parties. W.e.f. If you register your vacation and license agreement with a lawyer in Mumbai, it could cost between INR 3,000 and INR 7,000, including legal fees. Calculate Stamp Duty, Registration Fee, Rebate for Women, LBT GST, and TDS in just six (6) easy steps Validity of this calculator is from 1st April, 2021 up to 31stMar, 2022. Explanation I. If the amount secured is more than Rs.5 lakhs then the Stamp duty shall be 0.3% of the amount secured subject to a maximum of Rs.20 Lakhs. (2) having area more than 27.88 squares meters (300 square feet). ; (ii) in sub-clause (iii), in column 2 , for the figure and words 3 per cent. the figure and words 4 per cent. Shall be substituted. Only authorised vendors can sell the stamps. 50/- shall be disregarded. CERTIFICATE OR OTHER DOCUMENT, evidencing the right or title of the holder thereof, or any other person either to any shares, scrip or stock in or of, any incorporated company or other body corporate, or to become proprietor of shares, scrip or stock in or of, any such company or body. One such factor is the location or area of the property. 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). It is basically a levy on any transaction based on exchange of documents or execution of instruments. 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. Provided that, if the property is gifted to a family member being the husband, wife, brother or sister of the donor or any lineal ascendant or descendant of the donor, then the amount of duty chargeable shall be at the rate of 3 per cent on the market value of the property which is the subject matter of the gift, Provided further that ,if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson and grand-daughter, the amount of duty chargeable shall be Rs.200. (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). on the refundable security deposit or money advanced or to be advanced, by whatever name called. However, once the market value of a property crosses over Rs.30 Lakh, the buyer is required to pay 1% of the market value as the . (b) when possession is not given or agreed to be given as aforesaid. Duties to be paid in cash, or by demand draft or by pay order by notary 16 10D. ], A. 4.5 The stamp papers must be in the name of one of the parties to the transaction. Explanation(1) For the purposes of this Order, unit means, a residential unit. Insection 32Bof the principal Act, (i) in sub-section (1), after the words file an appeal against such order, to the the words Additional Controller of Stamps, Mumbai in respect of the property, which is the subject matter of the instrument, is situated in Mumbai City and Mumbai Suburban Districts and in respect of the properties situated in the other parts to the shall be inserted; (ii) in sub-section (2), after the words against the order of the the words Additional Controller of Stamps, Mumbai or the shall be inserted. 100 or an amount equal to 5% of the amount of consideration, whichever is higher, (iii) any Municipal Corporations other than those Municipal Corporations mentioned in columns (i) and (ii)--, Rs. NOTARIAL ACT, that is to say, any instrument, endorsement, note, attestation, certificate or entry not being a Protest (Article 49) executed by a Notary Public in the performance of the duties of his office, or by any other person lawfully acting as a Notary Public. 100/-. You can get the eSBTR on giving a printout of proof of payment online at nominated branches of the bank. the bureau of magical things kyra and darra kiss