Registered Agreement Stamp Duty
4. Oktober 2021
As a rule, stamp duty is paid on the basis of the duration of the contract, the amount of rent, the premium and / or another form of rent and premium, which can be set in the proposed rental agreement. In some Indian states, minimum circle rates have also been set by the respective national governments. In these countries, it is expected that either the specific rent set in the rental agreement or the minimum district rates made available by the Land Government, which will be much higher, will pay stamp duty. For example, if you enter into a 24-month vacation and license agreement with a monthly rent of 25,000 rupees and a refundable deposit of five Lakh Rs, you will have to pay a stamp duty of 1,750 rupees (0.25% on the rent of six Lakhs for two years and interest on one lakh for two years). The formula for calculating the stamp duty on the rental contract is 0.25% x D, the D (monthly rent x number of months) + (pre-rental for the period / non-refundable deposit) + (10% x refund x number of years of contract). A lease written on a stamp document is not applicable if it is not registered with an Office Sub-Registrar. Therefore, he is required to register it with a sub-registrar`s office in order to make it legally enforceable in the event of a dispute. The applicant can pay taxes and stamp duties online by generating a challan receipt online. The calculation of stamp duty is usually based on certain information to be mentioned when registering real estate: however, for Maharashtra, the law has been made stricter and, in accordance with the provisions of section 55 of the Maharashtra Rent Control Act, 1999, any rental or leave and licence agreement must be in writing and it must also be registered compulsorily. regardless of the duration of the rental.
Section 52 of the Indian Easements Act of 1882 defines leave and licence agreements. This section states: „If a person grants another or a number of other persons the right to do or continue to do something in or on the licensor`s immovable property, which would be unlawful without such a right, and that right does not constitute an easement or interest in the property, the right is called a license. Stamp duty shall be paid in the manner provided for by the stamp laws of the State of India in which the immovable property is located for the performance of a rental contract. . . .