stamp duty on trademark license agreement in mumbai

The leave and license agreements should be stamped with a stamp duty charge of 0.25% of the total rent for the period. Contain all the terms and conditions governing the rights and obligations of the parties. Stamp duty - Know about Stamp duty and Act in India. Certain departments, organisations, Institutions etc., to ensure payment of stamp duty 16 11. Such impounded instruments must be sent to the Collector who would then determine the amount of duty and penalty, if any, payable on the same. 100/-. Factoring Agreement. MHADA, CIDCO, BPT, MC, MIDC etc., or Income Tax Dept. The stamp office determines the market value of the property by referring to an Annual Statement of Rates (commonly known as Stamp Duty Ready Reckoner) which provides the Market Values of various immovable properties in Maharashtra. 100/-. 100+50=150 And just to be sure that something is not left out. 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. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Impressed Label/Special Adhesive Stamp affixed by Proper Officer under Rule 11. Circular w.e.f. Areas for the allotment of residential premises (4), 12.1MAJOR ARTICLES AS PER SCHEDULE I OF THE MAHARASHTRA STAMP ACT, (1) A debt written or signed by, or on behalf of, a debtor in order to supply evidence of such debt in any book (other than a bankers pass book) or on a separate piece of paper when such book or paper is left in the creditors possession ,and the amount or value of such debt-. These states include Haryana and Maharashtra. 0.5% of the consideration amount of the debenture. 30,000 and for property worth less than that, 1% of the property value is levied as stamp duty. The normal stamp duty to be paid is as per clause 5 (c) of schedule 1-A of the Indian Stamp Act applicable to Delhi i.e. 2. INSPECTORSHIP DEED, see Composition Deed (Article 24). 1stApril, 2021. Usc of adhesive stamps. 0.2%. --For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person. 4.5 The stamp papers must be in the name of one of the parties to the transaction. Instrument of partition means any instrument whereby co-owners of any property divide or agree to divide such property in severally and includes: a final order for effecting a partition passed by any revenue authority or any civil court, an award by an arbitration directing a partition, and, when any partition is effected without executing any such instrument, any instrument or instruments signed by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners. Now, with the passage of this bill, this one year set-off period has now been extended to three years. (iii) within the limits of anyGrampanchayatarea or any such area not mentioned in sub-clause (ii). Once the instrument is executed, it should be registered within 4 months from the date of such executionwithout any penalty towards registration fees. The new rate after the reduction was 2% (from earlier 5%) and applied from 1st September to 31st December 2020. 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. Step 2: Click 'Pay Without Registration' if you are not registered with the portal. 9.7 Deficient portion of stamp duty : amount of maximum penalty increased. 43 (b).The parties cannot rely on statements or conduct outside the License Agreement to establish any right or duty beyond or contrary to those expressly provided in or limited by the License Agreement. The instruments or the documents have to be read as they are i.e. according to the share capital of the company ,subject to minimum of Rs.1,000 and maximum of Rs.50,00,000. 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. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. The upper limit is twenty thousand rupees (rule 20,000/-) and the lowest is rupee five hundred (rule 500/-). (a) of a bill of exchange, cheque or promissory note; (b) of a bill of lading, delivery order, warrant for goods or other mercantile document or title to goods; (d) of securities of the Central Government, STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11. (c) where such share contribution is brought in by way of property, excluding cash. As mentioned in this order the Stamp Duty chargeable under Article 25(b) of Schedule I of Maharashtra Stamp Act, 1958 on the instrument of Conveyance or Agreement to Sell of any immovable property shall stand reduced to 1% subject to certain conditions, if all the purchasers are female. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. STAMPS TO BE USED -- Adhesive Stamp (Section 11). Explanation I. 10. 9.10 Section 38of the principal Act shall be deleted. See Kelson Cos., Inc. v. Feingold, 309 S.E.2d 394, 396 (Ga.Ct.App. 2 % of the, amount or the market value of the separated share or shares of the property. 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. You can get the eSBTR on giving a printout of proof of payment online at nominated branches of the bank. Earlier it was charged under article 25(b) which amounted to 5% on Market Value of the premises. Stamp Duty Consultation And . if(MSFPhover) { MSFPnav7n=MSFPpreload("../_derived/up_cmp_Profile110_up.gif"); MSFPnav7h=MSFPpreload("../_derived/up_cmp_Profile110_up_a.gif"); } However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high. (v) assignment of copyright under Copyright Act, 1957, -, (vi) project under Built, Operate and Transfer (BOT) system, whether with or without toll or free collection rights,-. 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). Certain departments, organisations, institutions etc., to ensure payment of stamp duty-, (1) Notwithstanding anything contained in this Act, the State Government may, by notification in the Official Gazette, direct that any State Government Department, institution of local self-Government, semi Government organization, banking or non-banking financial institution or the body owned, controlled or substantially financed by the State Government or any class of them, shall ensure that the proper duty is paid to the State Government through Government Receipt Accounting System (G.R.A.S.) Seal of the office. For license agreemnt there is stamp duty & registration charges it is calculated as Total rent+ Deposit X 0.025. Registration fees, on the other hand, stand at a standard one per cent across states. 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. Further it has to be paid on time to avoid penalty. 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. (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. 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 such agreement, records thereof or memorandum, as they apply to an instrument under that section: Provided further that, if the proper stamp duty is paid under clause (g) of article 48 on a power of attorney executed between the same parties in respect of the same property then, the stamp duty under this article shall be one hundred . 9.3 E-payment through Government Receipt Accounting System (GRAS): Virtual Treasury, Insection 10of the principal Act, after sub-section (3), the following sub-section shall be inserted, namely :, (3A) The procedure to regulate the use of e-payment, through Government Receipt Accounting System (G.R.A.S.) Stamp duty in India is governed by two legislations, i.e a stamp Act legislated by the Parliament and a stamp Act legislated by the state legislature. Explanation II-- Where in the case of an agreement to mortgage the amount or part thereof sought to be secured by such an agreement is advanced or disbursed to the mortgagor or without execution of a mortgage deed, then such an agreement to mortgage shall, notwithstanding anything contained in clause (d) of section 2, become chargeable under this Article as mortgage-deed on the date of making of such advance or disbursement either in part or in whole. Instruments which are not covered under the above Act are either chargeable under Indian Stamp Act, 1899 (e.g. 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. Mudrank-2020/C.R.136/M-1 (Policy) issued by Revenue and Forest Department dated 29.08.2020 wherein the Stamp Duty chargeable under Article 25(b) of Schedule I of Maharashtra Stamp Act, 1958 on the instrument of Conveyance or Agreement to Sell of any immovable property in Mumbai City and Mumbai Suburban was reduced by Three percent (3%) for the period starting from 1st September, 2020 and ending on 31st December, 2020 and by Two percent (2%) for the period starting from 1st January, 2021 and ending on 31st March, 2021. (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. Insection 72of the principal Act, (i) in clause (a) the word and shall be deleted; (ii) after clause (a), the following clause shall be inserted, namely : (a-a) powers conferred on it by clause (b) of section 9, to the Additional Controller of Stamps, Mumbai or any other officer; and.. Cancellation of adhesive stamps 17 13. If you are a registered user, fill in the login details. However, the heading Other Stamp Duty covers electronic share trading (CREST), Stamp Duty on financial cards and Stamp Duty levies. Stamp duty is the transactional tax, which plays a key role in the transactions made on a property. What is stamp duty on gift deed in Mumbai?. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule l0(ii). 1 by Impressed Stamp Fixed by Proper Officer. Aftersection 68of the principal Act, the following section shall be inserted, namely : 68A. Stamp duty is payable at rates mentioned in Schedule - I of The Maharashtra Stamp Act. Other states levy additional tax such as metro cess and local body tax along with stamp duty. (A) for the purpose of non-residential use of any nature whatsoever; Rs. Stamp Duty charges vary from one state to another and may depend on gender, municipal areas or income groups within the state too. 50/- while Stamp Duty for Rent Agreement in Bangalore is Rs. Explanation.-- For the purposes of this clause, the term 'debenture' includes debenture stock; (b) of any interest secured by bond, mortgage deed or policy of insurance; (c) of any property under section 22 of the Administrators' General Act, 1963; (d) of any trust property without consideration from one trustee to another trustee, or from a trustee to a beneficiary. 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 . (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). RELEASE, that is to say, any instrument (not being an instrument as is provided for by section 24) whereby a person renounces a claim upon other person or against any specified property,--. 1% of the amount of share contribution subject to maximum of Rs.15,000. Provided that in case of instrument executed by consortium of banks, the duty chargeable shall not exceed 50 lakhs. The state government announced stamp duty reduction on lease agreements on 24th December 2020. Explanation I--For the purposes of clause (1) of this Article, notwithstanding anything contained in any judgment, decree or order of any court or order of any authority, any letter, note, memorandum or writing relating to the deposit of title deeds whether written or made either before or at the time when or after the deposit of title deeds is effected, and whether it is in respect of the security for the first loan or any additional loan or loans taken subsequently, such letter, note, memorandum or writing shall, in the absence of any separate agreement or memorandum of agreement relating to deposit of such title deeds, be deemed to be an instrument evidencing an agreement relating to the deposit of title deeds. Explanation II-For the purposes of this Article ,any new instrument executed for additional loan or extension of previous loan shall be treated as a fresh instrument and chargeable with the duty to the extent of additional amount being secured or disbursed or sanctioned. : detection of frauds under Information Technology Act. You can log into the website of the authorized bank, click the link for payment of stamp duty/registration fees. Both the abovementioned payment options can be availed on https://gras.mahakosh.gov.in/echallan/. The Haryana State Government has decided to cut stamp duty on loan agreements to just 100. In Gujarat Basic rate of Stamp Duty is 3.50% and Total rate is 4.90% i.e., Rs. Insufficiently stamped documents are not admitted as evidence in the court. SURRENDER OF LEASE including an agreement for surrender of lease--. 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. Stamp duty refers to a tax on a transaction which is paid to the government and the tax is levied on the instrument recording the transaction. Registration charges in Mumbai for a property worth Rs. In absence of any State stamp legislation, the IS Act applies. See also Letter of Allotment of Shares (Article 37); Explanation. B If the agreement claims to be for a period of more t The Maharashtra Stamp (Second Amendment) Act, 2017 have increased the percentage of stamp duty in certain cases under Article 25 and Article 34 of Schedule I to the Maharashtra Stamp Act, 1958. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state . 25-3-2013: As per amended Section 17 of Registration Act, 1908 registration of: Irrevocable Power of Attorney relating to transfer of immovable property in any way, executed on or after 1-4-2013. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. 50,000 or part thereof. --The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908). The registration charges on this deed would be based on the deal value, too . Sale Certificate issued by any competent office or authority under any Recovery Act, Agreement relating to the Deposit of title deeds, where such deposit has been made by way of security for the repayment of a loan or an existing or future debts. 2. (2) Dissolution of partnership or retirement of partner inclusive of Limited Liability Partnership and Joint Venture to run a business ,earn profits and to share profits ,whether in cash or in kind-. Explanation II. STAMPS TO BE USED -- Non - Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 & 11]. Both the Parties of the agreement are also situated in Maharashtra. 20 lakhs. 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. The same duty as is payable under clauses (a) and (b). The amount of Stamp Duty payable depends on type of instruments. 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). Steps for Section 8 Company Registration in Mumbai. STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11, ARTICLE 39 MEMORANDUM OF ASSOCIATION OF A COMPANY (Detailed chart attached). (2) a letter, article, document, parcel, package or consignment, of any nature or description whatsoever or by whatever name called, given by a person, courier company, firm or body of persons whether incorporated or unincorporated to the sender of such letter, article, document, parcel, package or consignment. To use this stamp duty calculator, follow this simple step: Step 1: Visit the stamp duty online calculator page. 5 (h) impressed stamp under Rule 6, ARTICLE 6 AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, that is to say, any instrument evidencing an agreement relating to--. On a brighter note, the 1% stamp duty waiver . The Penalty on the instruments mentioned in the Appendix is reduced to ten percent of total penalty on the deficient portion of the duty for the period commencing from 1. in sub-clause (c), in column (1) ,the word and shall be deleted; for sub-clause (d) ,the following sub-clauses shall be substituted ,namely:-, AGREEMENT OR ITS RECORDS OR MEMORANDUM OF AN AGREEMENT, AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE OR HYPOTHECATION, CLEARANCE LIST FOR HOUSE OF STOCK EXCHANGE, CLEARANCE LIST FOR HOUSE OF COTTON ASSOCIATION, CLEARANCE LIST FOR HOUSE OF A BULLION ASSOCIATION, CLEARANCE LIST FOR HOUSE OF OIL SEED ASSOCIATION, CLEARANCE LIST RELATING TO TRANSACTIONS FOR THE PURCHASE OR SALE OF OIL SEEDS SUBMITTED TO THE CLEARING HOUSE OF A OIL SEED ASSOCIATION. (i) within the limits of any Municipal Corporation or any Cantonment area annexed to it or any urban area not mentioned in sub clause (ii). 100. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. Stamp duty is ten per cent rupee (0.1%) on the market value corresponding to the amount of the consideration. 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. 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. HIRING AGREEMENT or agreement for service, see Agreement (Article 5). 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. A license can apply to any type of intellectual property - trademark, patent, copyright, design and/or know-how. Advantages of Notarised Agreements: Legally Binding: Notarised agreements are legally binding and enforceable in a court of law. Here, it would be relevant to mention that a s per the provisions laid down under the Indian Stamp Act, a stamp duty @ 5% is payable on an instrument based on the consideration amount mentioned. Further it has to be paid on time to avoid penalty. function MSFPpreload(img) 10B. In case of sale, transfer or reissue; 1. e.B. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. The existing ceiling of stamp duty payable on an agreement relating to deposit of title deeds, pawn, pledge or hypothecation where the amount secured exceeds Rs.5 lakhs stamp duty has been amended to 0.3% of the amount secured subject to a maximum of Rs. Stamp Duty Increased from 3% to 5% w.e.f. 3. 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. To be valid and enforceable, an assignment must: Be in writing. // -->