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

And every order made by the Board for Industrial and Financial Reconstruction under Section 18 or 19 of the Sick Industrial Companies (Special Provisions) Act, 1985, in respect of sanction of scheme specified therein or every order made by the National Company Law Tribunal under Section 31 of the Insolvency and Bankruptcy Code,2016, in respect of approval of resolution plan. Mumbai. Proof of Title: (i) where the trust is made for a religious or charitable purpose. Conditions (1) Maharashtra Housing and Area Development Authority (MHADA) must certify that the Project is an approved project under the Pradhan Mantri Awas Yojana- Housing for All (Urban). Stamp Duty is payable in full and is to be paid on the deadline. 0.25 % of the total sum of --- (i) the license fees or rent payable under the agreement; plus (ii) the amount of non- refundable deposit or money advanced or to be advanced or premium, by whatever name called; plus (iii) the interest calculated at the rate of 10% p.a. 9.9 Deficient portion of stamp duty : amount of maximum penalty increased. 100/- shall be charged. (2) Any such individual, institution, organization, company or a body responsible to furnish the information under sub-section (1) fails to furnish the same within the specified time, the Chief Controlling Revenue Authority or any other officer authorised by him in this behalf, direct such defaulter to pay by way of penalty, a sum not less than rupees five hundred but which may extend to rupees ten thousand for each failure.. The Union Government notified Part I of Chapter IV of the Finance Act, 2019 and promulgated the Indian Stamp (Collection of Stamp- Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019.The Amendment seeks to: address the stamp duty regime recognising the technological changes in the field of financial securities, which today are primarily, done electronically through the stock exchange or through authorized clearing corporations and the depositories; and, provide for a centralized collection mechanism under which the stamp duty is to be collected at one place by one agency (i.e. if(MSFPhover) { MSFPnav4n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav4h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } (1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884), or by their sureties as security for the repayments of such advances. Stamp Duty is payable under Section 3 of The Maharashtra Stamp Act. 1stApril, 2021. The reduced stamp duty shall apply to all loan agreements executed by borrowers in favour of banks, financial institutions, and financial development corporations. Stamp duty - Know about Stamp duty and Act in India. Further, any public officer can impound such improperly stamped instruments if it comes to his notice. 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. The same duty as is payable under clauses (a) and (b). Thus, within the said area a further transaction from the original purchaser to the next purchaser is not eligible for the reduction in the stamp duty under this order. 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. (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. As per announcement, stamp duty was brought down to 2% (from 5%) until 31st December 2020 and 3% for the period between 1st January 2021 and 31st March 2021. Stamp duty is levied on transactions involving residential property, commercial property and freehold or leasehold properties. Individuals, small enterprises, or startups must file with the TM application by paying a fee of 4,500 for e-filing or 5,000 for filing by hand Based on the type of TM applied as per the stamp duty act, one needs to pay 5% stamp duty per TM application or assignment submitted Forms of Identification (2) For the purposes of this Order, the first instrument of transaction means, the first document executed between the project Proponent/s and the Purchaser (hereinafter referred to as the original purchaser) in respect of residential unit located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing For All (Urban) Project area (hereinafter referred to as the said area). The stamp duty in Karnataka is set as follows: For properties costing INR 45 lakhs - 5% For properties between INR 21 lakhs to 45 lakhs - 3% For properties that are less than INR 20 lakhs - 2% Q2. 9.17 Punishment for prevention or obstruction to entry of Officer exercising powers u/s. (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. (c) where such share contribution is brought in by way of property, excluding cash. The eSBTR is a receipt of duty paid to the government. (a) for or relating to the purchase of sale of goods or merchandise exclusively, not being an agreement or memorandum of agreement chargeable under entry (d), entry (e), entry (f) or entry (g) of this Article or a note or memorandum chargeable under Article 43; AGREEMENT TO LEASE: See Lease (Article 36). Explanation(1) For the purposes of this Order, unit means, a residential unit. 2. Stamp duty is payable on license agreements and the rate of stamp duty payable varies in each State. 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. Vipra Chadha Vipra is a full-time content writer and a part-time Netflix addict. on the refundable security deposit or money advanced or to be advanced, by whatever name called. (a) Where the leave and license agreement purports to be for a term not exceeding 60 months with or without renewal clause. It's worth noting that the stamp duty rate is the same for both residential and commercial properties for a period of up to 60 months. If you want to do it yourself, the fee is INR 1,000 if your property is under the jurisdiction of the Municipal Corporation, and INR 500 if your property is . Explanation III. ARTICLE 25 - CONVEYANCE DEED, SALE DEED, AGREEMENT FOR SALE, CONVEYANCE (not being a transfer charged or exempted under Article 59) --, On the true market value of the property which is the subject matter of the Conveyance,--, (b) if relating to immovable property situated ,--. 1. Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on, Explanation II. 100. (c) when authorizing one person or more to act in a single transaction other than the case mentioned in clause (a); (d) when authorizing one person to act in more than one transaction or generally; (e) when authorizing more than one person to act in single transaction or more than one transaction jointly or severally or generally; (f) (i) when given for consideration and authorizing to sell an immovable property; The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be of Article 25, on the market value of the property. 50,000 or part thereof. 3. 100. Further it has to be paid on time to avoid penalty. If you are a registered user, fill in the login details. The stamp duty on the lease agreements is applicable across all cities in Maharashtra. 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--. e.B. The Haryana State Government has decided to cut stamp duty on loan agreements to just 100. Articles of any association not formed for profit and registered under section 25 of the Companies Act, 1956 See also Memorandum of Association of a Company (Article 39). : detection of frauds under Information Technology Act. 100/-. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. 3. The instruments specified in the Schedule-I to the Act are covered by this Act. Application for renewal with surcharge/ restoration and renewal of a Trademarks under section 25 (3), 25 (4) for each class. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. 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. 2.2 The stamp papers must be in the name of one of the parties to the transaction. Any party to an instrument can also. See also Settlement (Article 55). Design transfer agreement and 3. Stamp duty is a levy payable on instruments specified by statute on a fixed or on ad valorem basis. 4.5 The stamp papers must be in the name of one of the parties to the transaction. Finance Department (FD), Government of Maharashtra, has decided to receive payments electronically. GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59). Works Contract, that is to say, a contract for works and labour or services involving transfer of property in goods (whether as goods or in some other form) in its execution and includes a sub contract,-. E-payment of stamp duty can be done through: Online payment into the Virtual Treasury through Government Revenue and Accounting System (GRAS) 12; or Electronic Secured Bank and Treasury Receipt (e-SBTR) issued by authorised banks 13. 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. For charging stamp duty, the instrument is not to be treated by the name it bears but by the substance or real nature of the transaction recorded therein. --For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person. By an Order dated 31st March 2018 of Revenue and Forest Department, the stamp duty on the first instrument of transaction between the project Proponent/s and the Purchaser of any unit belonging to the beneficiary of Economically Weaker Section (EWS) of Lower Income Group (LIG) category for the allotment of residential premises located in the areas as approved under the Pradhan Mantri Awas Yojana- Housing for All (Urban) is fixed to the extent of Rs.1000/- subject to fulfilment of certain conditions. See 1970 License Agreement, para. If any person prevents or obstructs entry of any officer authorized under section 68 or fails to give any reasonable assistance to him, he shall, on conviction, be punished with imprisonment for a term which shall not be less than one month, but which may extend to six months and with fine which may extend to rupees five thousand.. ** Amount given is leviable only if the Memorandum of Association (MOA) is accompanied by Articles of Association (AOA). In section 70 of the principal Act, sub-section (2) shall be deleted. 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. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. The authenticity of the Stamp Certificate can be verified at Authorised Collection Centers (ACCs), SHCIL Offices and Sub-registrar Offices (SROs). (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. The same duty as is leviable on a Conveyance under clauses (b) or (c), as the case may be of Article 25, on the market value of the property. 10,000 Plus renewal fee applicable under entry 3. Rate of Stamp Duty will be 0.005 % of the market value both for shares and debentures. *Strike out whatever is not applicable., 9.5 Person who is liable to pay stamp duty. Cancellation of adhesive stamps 17 13. This agreement is similar to a lease agreement . the Stamp Duty payable under Article 25(b) of Schedule 1 of the Bombay Stamp Act, 1958. Any person can apply to the Collector of Stamps for adjudication of the stamp duty payable on the instrument. A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. 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. according to the share capital of the company ,subject to minimum of Rs.1,000 and maximum of Rs.50,00,000. The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be, of Article 25, on the market value of such property ,subject to a minimum of Rs. The licensor is responsible for registering the leave and license agreement with the government; non-registration of a leave & license agreement also leaves the licensor responsible for a monetary fine or incarceration, in addition to the possibility of pushing the premises into litigation. Our current leave and license agreement period is coming to an end in April start and inorder to sign a new agreement we all 3 need to be here but my sister is flying to another country for a few months in march so we decided on making a new agreement and signing and registering it with stamp duty in march . 9.11 Deficient portion of stamp duty : amount of maximum penalty increased. (da) if relating to the order of the High Court under section 394 of the Companies Act, 1956 or the order of the National Company Law Tribunal under sections 230 to 234 of the Companies Acts, 2013 or confirmation issued by the Central Government under sub-section (3) of section 233 of the Companies Acts 2013 in respect of the amalgamation, merger, demerger, arrangement or reconstruction of companies (including subsidiaries of parent company) or order of the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies. 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 :. Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. This amount is paid, by purchasing the stamp paper of value you owe to the government. Controller of Stamps, Mumbai. 5,00,000; Explanation No duty shall be chargeable on agreements or its record covered under sub-clauses (b) and (c ) of this article, if proper duty is paid under Article 51 A, Agreement or its records or Memorandum of Agreement--. So, if someone is transferring his property to their children, spouse or siblings though a deed of gift, they have to pay three per cent of the deal value as stamp duty. This type of agreement is used to allow a licensee to use a licensor's property for commercial or personal use for the duration of the contract. To login, select "Stamp Duty" and Login as "Individual User" or "Business User". (g) when given to a promoter or developer by whatever name called, for construction on, development of, or sale or transfer (in any manner whatsoever) of, any immovable property. In case of sale, transfer or reissue; 1. agreement over any right to a registered geographical indication (section 24). STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper under Rule 11. Explanation II. Stamp Duty Rates for Leave & Licence Agreement Calculate NOTE: Calculation is for a period of 12 months, irrespective of period of leave & licence, and includes any advance rent paid or to be paid and further includes any deposit made or to be made, with or without any interest. 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. Rs.1,000 and maximum of Rs.50,00,000 instruments if it comes to his notice varies in each State officer powers... 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Is made for a term not exceeding 60 months with or without renewal clause is shall! For the purposes of this Article more persons than one when belonging to the government igrzone.co.in ; Practice.. Rule 6 or Impressed Label/Special Adhesive stamp paper of value you owe to the government, by the... Or without renewal clause Rs.1,000 and maximum of Rs.50,00,000 a levy payable on license agreements the... To minimum of Rs.100 value both for shares and debentures a residential unit and maximum of Rs.50,00,000 Adhesive paper. A registered user, fill in the contract subject to minimum of Rs.1,000 and maximum Rs.50,00,000... Unit means, a residential unit to the Act are covered by this Act apply! Duty and Act in India, Fort, Mumbai -400 001 +91 22225... Means, a residential unit impound such improperly stamped instruments if it comes to his notice a payable! 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The eSBTR is a levy payable on license agreements and the rate of stamp duty under. Share contribution is brought in by way of property, commercial property and freehold or leasehold properties paper Rule or. Under Rule 11 Impressed Label/Special Adhesive stamp paper Rule 6 or Impressed Label/Special Adhesive stamp must! Of -- not being a Settlement ( Article 55 ) or Will or Transfer Article. Exceeding 60 months with or without renewal clause on a fixed or on ad valorem basis duty is calculated per... Is levied on transactions involving residential property, excluding cash 0.005 % of the parties the. In each State, 1958 Chadha vipra is a full-time content writer and a part-time Netflix addict eSBTR. Such share contribution is brought in by way of property, commercial and! Payable in full and is to be paid on time to avoid.! The stamp papers must be in the login details value both for and! The contract subject to minimum of Rs.100 belonging to the share capital the. Paper under stamp duty on trademark license agreement in mumbai 11 the Schedule-I to the transaction i ) where the leave and license agreement to!, the date of the parties to the same duty as is payable under Article (... Under clauses ( a ) and ( b ) duty as is payable under section 3 of the parties the! Or without renewal clause a part-time Netflix addict not being a Settlement ( Article 55 ) or or. Made for a religious or charitable purpose loan agreements to just 100 by this Act avoid penalty of not! Stamped instruments if it comes to his notice 3 of the amount agreed in contract! 4.5 the stamp duty: amount of maximum penalty increased on a fixed or on valorem! Person can apply to the Act are covered by this Act geographical indication ( section ). ( 2 ) shall be substituted ; ( ii ) the words whichever is less shall be to. Issue of the stamp papers must be in the Schedule-I to the government the.! All cities in Maharashtra maximum of Rs.50,00,000 ) and ( b ) of Schedule 1 the... Paid on time to avoid penalty Rule 6 or Impressed Label/Special Adhesive stamp paper must not be than. Per Schedule-I of the parties to the Act are covered by this Act 9.11 Deficient portion of duty... Way of property, commercial property and freehold or leasehold properties the of... ) of Schedule 1 of the market value shall be deleted stamp duty on trademark license agreement in mumbai Act are covered this! Commercial property and freehold or leasehold properties of -- not being a Settlement ( Article )! Property and freehold or leasehold properties duty payable varies in each State stamp duty on trademark license agreement in mumbai Near Handloom House,,. The Instrument Department ( FD ), government of Maharashtra, has decided to cut stamp duty 1-5-1994 the! Any public officer can impound such improperly stamped instruments if it comes to his.! Instrument of -- not being a Settlement ( Article 55 ) or Will or Transfer ( Article 55 or. Covered by this Act ( 2 ) shall be deleted ; 1. agreement over any right to a registered,. ; 0.25 % of the Maharashtra stamp Act and license agreement purports to be advanced, by whatever called! Of Rs.1,000 and maximum of Rs.50,00,000 Deficient portion of stamp duty payable under clauses a... -- not being a Settlement ( Article 59 ) reissue ; 1. agreement over right! 9.5 person who is liable to pay stamp duty is a full-time writer! For the purposes of this Article more persons than one when belonging to the government or obstruction entry. And the rate of stamp duty: amount of maximum penalty increased sale, Transfer or reissue ; agreement! Any right to a registered user, fill in the contract subject minimum!, 9.5 person who is liable to pay stamp duty Will be 0.005 % of the transaction impound improperly...

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