Stamp duty ranges from three per cent to 10 per cent, depending on the slab decided by the particular state. The onus of paying the stamp duty, normally vests on the buyer of the property. Stamp duty is calculated on the higher value, between the ready reckoner rate (circle rate) and the agreement value of property. The Maharashtra Stamp Duty Act, 1958 applies across the entire State of Maharashtra. The Act levies stamp duty on real estate properties at the rate fixed by the State government. Stamp duty charges are payable at rates based upon several parameters including the market value of the property, area of the property, or various other criterion. Leave and licence agreements are required to be stamped, with a flat stamp duty rate of 0.25 per cent of the total rent for the period. In case any non-refundable deposit is also paid to the landlord, stamp duty at the same rate shall be charged on such non-refundable deposits, as well. Maharashtra . The Stamp duty should not exceed 5% of the true market value of the true market value of the immovable property when the transfer is taken place within Maharashtra. Or, 0.7% of the aggregate of the market value of share allotment. Stamp Duty on Merger Maharashtra The rates at which Stamp Duty is levied on those documents are mentioned in Schedule I of The Maharashtra (Bombay) Stamp Act, levies Stamp duty on documents / instruments by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded. Stamp Duty and Registration charges are applicable on the resale flats too. I have gone through the first link which you have provided, in that article it is stated, “Stamp duty cannot be charged in retrospect on resale of old flats”, the word retrospect is important. Act not applicable to rates of stamp duty on bills of exchange, etc. 43 75. Act to be translated and sold cheaply 43 76. Repeal of enactments. 43 SCHEDULE-I. 44 SCHEDULE-II. 71 [THE MAHARASHTRA STAMP ACT] Clause (aa) was Inserted by The Maharashtra Stamp (Amendment) Act, 2015, s. 2. 5.
Act not applicable to rates of stamp duty on bills of exchange, etc. 43 75. Act to be translated and sold cheaply 43 76. Repeal of enactments. 43 SCHEDULE-I. 44 SCHEDULE-II. 71 [THE MAHARASHTRA STAMP ACT] Clause (aa) was Inserted by The Maharashtra Stamp (Amendment) Act, 2015, s. 2. 5. How is stamp duty in Maharashtra calculated post rebates and premiums on ready reckoner rates. Stamp Duty: Bombay HC rules stamp duty cannot be charged for past transactions. How to arrive at the fair market value of a property, and its importance in income tax laws.
Stamp duty charges can be claimed as tax deductions under Section 80C of the Income Tax Act. A stamp duty calculator is useful in determining the amount you The rates at which stamp duty is levied on these documents are mentioned in Schedule –I. The Bombay Stamp Act levies Stamp duty on documents/ instruments by
17 Feb 2019 This will result in increase in stamp duty on property deals. One per cent tax will be charged on sale of houses, land, shops, transactions, STAMP DUTY (with effect from 07th September, 2017) Stamp Duty is charged on Market Value or on the Agreement Value which ever is higher. Stamp Duty in Maharashtra differs according to the jurisdiction in which it falls. 1. In Nagar Panchayat stamp duty is 4% on Market Value or on the Agreement Value which ever is higher. The state legislative assembly on August 10 passed an amendment to the Maharashtra Stamp Duty Act to increase the stamp duty on gift deeds to three per cent of the market value of a property. The existing stamp duty stands at Rs 500.
The Maharashtra government imposed an there is a stamp duty on the agreements Stamp duty charges can be claimed as tax deductions under Section 80C of the Income Tax Act. A stamp duty calculator is useful in determining the amount you