stamp duty on trademark license agreement in mumbai

Stamp Duty is a statutory payment like Goods and Services Tax which needs to be paid on all instruments chargeable to duty. Trademark Agreement, 2. 1-5-1994, the stamp papers must be in the name of one of the parties to the transaction. (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. Mudrank-2022/C.R.No.78/M-1 (Policy) issued by Revenue and Forest Department dated 01.04.2022 wherein the Government of Maharashtra had introduced Amnesty Scheme for certain type of documents. (2) The Chief Controlling Revenue Authority shall authorize a person nominated by such Department or body, etc. (c) where a final order for effecting a partition passed by any Revenue Authority or any Civil Court or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and an instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not exceed Rs. Step 2: Click 'Pay Without Registration' if you are not registered with the portal. By Notification dated 8th February 2019, the Government of Maharashtra has introduced levy of additional stamp duty for instruments of sale, gift and usufructuary mortgage, in the form of Metro Cess. 1 by Impressed Stamp Fixed by Proper Officer. They cannot be in the name of the Chartered Accountant or Lawyer of the parties. 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. In the State of Maharashtra stamp duty on issue of share certificates is 0.1 per cent on the value of the share certificate inclusive of premium, if any, under Article 17 of Schedule I to Maharashtra Stamp Act, 1958. If the landlord additionally receives a non-refundable deposit, stamp duty at the same rate will be applied on the non-refundable deposit. (iv) for a period exceeding 29 years , or in perpetuity, or does not purport for any definite period, or for lease for a period exceeding 29 years, with a renewal clause contingent or otherwise. (6) Any project proponent or the Purchaser of any unit for which the reduction in the stamp duty is granted under this Order, and which fails to fulfill the purpose or objectives of the said policy or commits breach of any of the conditions or special regulations as specified in the said policy or this order, shall be liable to pay the whole stamp duty and penalty, if any, as if there was no reduction in stamp duty from the beginning. The Act is a fiscal measure enacted to secure revenue for the State from certain classes of instruments. STAMPS TO BE USED -- Non-Judicial Stamp Paper under Rule 6 or Special Adhesive Stamp affixed by Proper Officer under Rule 11. 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. 5. In simple terms, we can call Stamp Duty as Price of Stamp paper. It is a tax paid to the government, similar to the income tax. 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. So i want to know, whether the payment of stamp duty for these agreements fall under Maharashtra Stamp Act or Indian Stamp Act. The amount of Stamp Duty payable depends on type of instruments. 0.1 % of the amount agreed in the contract subject to minimum of Rs.100. 20,00,000/-. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. After six months it is mere a piece of paper. LLP Agreement Stamp Duty | Stamp Duty for LLP Deed LLP agreement filing with the Ministry of Corporate Affairs is the last leg for LLP Incorporation . Provided also that where proper stamp duty is paid on a registered agreement to sell an immovable property, treating it as a deemed conveyance and subsequently a conveyance deed is executed without any modification then such a conveyance shall be treated as other instrument under section 4 and the duty of Rs. 20 lakhs. The renewal period, if specifically mentioned, shall be treated as part of the present lease, Explanation III. (2) having area more than 27.88 squares meters (300 square feet). In India there are 29 States and Stamp Duty varies in each State for ex: The Stamp Duty for Rent Agreement in Delhi is Rs. E-payment is a mode of payment in addition to the conventional methods of payment offered by the Government of Maharashtra which is popularly known as GRAS(Government Receipt Accounting System). The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. Stamp Duty in Mumbai Based on Area Type. Provided further that, when proper stamp duty is paid under clause (g- a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be Rs. Some states offer reduced stamp duty charges for female homebuyers. 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. (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. 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. 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. 50/- while Stamp Duty for Rent Agreement in Bangalore is Rs. (a) where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000; (b) where such share contribution brought in by way of cash is in excess of Rs. Stamp duty on lease agreements Stamp duties are payable pursuant to Section 3 of the Indian Stamp Act, 1899. LETTER OF GUARANTEE,SeeAgreement (Article 5). Explanation I. The reduced stamp duty shall apply to all loan agreements executed by borrowers in favour of banks, financial institutions, and financial development corporations. Act LX of 1958) as amended from time to time. (a) of debentures, being marketable securities whether the debenture is liable to duty or not, except debentures provided for by section 8 of the Indian Stamp Act, 1899. 10,000 Plus renewal fee applicable under entry 3. (aa) Additional Controller of Stamps, Mumbai means the officer or officers so designated by the State Government and includes any other officer whom the State Government may, by notification in the Official Gazette, appoint in this behalf ; . Raghunath Dadaji Street, Near Handloom House, Fort, Mumbai -400 001 +91 84510 22225; info@igrzone.co.in; Practice Area. Fully Online. 9.13 Time limit for filing Application for refund of stamp duty : Date of execution of Agreement to Sale: Date of Registration :Cancellation of registered instrument described under Article 25 of schedule I. STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Impressed Label/Special Adhesive Stamp Paper Rule 10(ii). The state government announced stamp duty reduction on lease agreements on 24th December 2020. 10,00,000; 0.25 % of the amount agreed in the contract subject to minimum of Rs.100. The acceptance of on-line payment of Maharashtra State's Taxes through the internet portals of various banks have been developed, without having any implication on the existing procedure of the executive and accounting agencies of the Department. 1983). More. (5) No refund shall be granted where stamp duty has already been paid by any project proponent or the Purchaser of any unit prior to the date of publication of this Order in the Maharashtra Government Gazette. ** Amount given is leviable only if the Memorandum of Association (MOA) is accompanied by Articles of Association (AOA). STAMPS TO BE USED- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule 10(ii), MORTGAGE DEED, not being an agreement relating to Deposit of Title Deeds, Pawn or Pledge or Hypothecation (Article 6), Bottomry Bond (Article 14), Mortgage of a Crop (Article 41), Respondentia Bond (Article 53), or Security Bond or Mortgage Deed (Article 54)-. (4) The project proponent or the Purchaser of any unit which availed the reduction under this Order shall not be entitled for concession or remission of stamp duty as per any other order or policy. then value declared by these departments in notice is treated as final market value. In Maharashtra, leave and license agreements are required to be stamped, with a flat stamp duty . 9.7 Deficient portion of stamp duty : amount of maximum penalty increased. This agreement is similar to a lease agreement . 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. To avail of this facility the taxpayer is required to have a net-banking account with any of the banks listed by the government on the website. 1. Important Timeline of Maharashtra State. (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. Here is how are two charges he needs to pay to register this property. Only authorised vendors can sell the stamps. Stamp Duty Consultant & Registration of all types of Documents; Registration of Firm, Property, Brand, Logo, Trademark; Leave & License Agreement (Online Registration) Notice of Intimation . A license agreement is a document, executed between two or more parties, evidencing the terms and conditions of such patent licensing in India. The term "Instrument" has been defined to include every document by which any right or liability is or purports to be created, transferred, limited, extended, extinguished or recorded.