stamp duty on trademark license agreement in mumbai

(b) Where such leave and license agreement purports to be for a period exceeding 60 months with or without renewal clause; Same duty as is leviable on lease, under clause (ii), (iii) or (iv), as the case may be, of Article 36. (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. (3) The Occupancy Certificate must be granted by the concerned Planning Authority. Stamp Duty Consultant & Registration of all types of Documents; Registration of Firm, Property, Brand, Logo, Trademark; Leave & License Agreement (Online Registration) Notice of Intimation . They provide evidence of the terms and conditions agreed upon by the parties . Stamp duty is levied on transactions involving residential property, commercial property and freehold or leasehold properties. The Stamp Duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on transaction of Sale, Mortgage and Gift Deed will attract a 1% metro cess from 1st April,2022 over and above the Stamp Duty rate. Stamp duty is a duty payable upon the execution of certain instruments or documents specified in the Indian Stamp Act, 1899 ("IS Act") or the relevant state Stamp Act as the case maybe. STAMPS TO BE USED- Non-Judicial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules10 & 11]. All the charges put together can come up to 7% to 10% of the total market value of the property or more than that. 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. GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59). Now, with the passage of this bill, this one year set-off period has now been extended to three years. 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.. Step 2: Select an area, that is, Municipal Corporation or Gram Panchayat. See Kelson Cos., Inc. v. Feingold, 309 S.E.2d 394, 396 (Ga.Ct.App. 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.. Stamp Duty Increased from 3% to 5% w.e.f. 2. In case of exchange, it is to be paid by the parties in equal shares and in case of partition, by the parties in proportion to their respective shares. The same duty as is leviable under clause (a), (b) or (c) of Article 25 on the amount of Consideration. 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. EXCISE BOND, See Customs Bond or Excise Bond (Article 28). Provided that, the provisions of section 32A shall,mutatis mutandis, apply to 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 Rs. Controller of Stamps ,Mumbai/Designated Officers. Some states offer reduced stamp duty charges for female homebuyers. 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. 2. 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.) A highly motivated and ambitious practising Advocate and Solicitor with an experience in commercial litigation and dispute resolution. on the market value shall be substituted; (ii) the words whichever is less shall be deleted. or by any other system of payment as may be notified by the state government in this behalf, in respect of such instruments, as may be specified in the notification passing through their system or related to their functioning of which registration is not compulsory. Stamp duty rate: The rates at which stamp duty is charged in various Indian states at present range from 4 per cent to 10 per cent. 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. Provided always that,-- (a) when an instrument of partition containing an agreement to divide property in severalty is executed and a partition is effected in pursuance of such agreement, the duty chargeable upon the instrument effecting such partition shall be reduced by the amount of duty paid in respect of the first instrument, but shall not be less than Rs. 9.9 Deficient portion of stamp duty : amount of maximum penalty increased. RECORD OF TRANSACTION (Electronics or otherwise) effected by a trading member through a stock exchange or the association referred to in Section 10 B-, (a) if relating to sale and purchase of Government securities, Rs.50 for every Rs. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. In August 2020, Maharashtra Government announced that they are reducing the stamp duty for the next three months. Steps for Section 8 Company Registration in Mumbai. Of all the charges, stamp duty is the major component. The Stamp Duty is calculated as per Schedule-I of The Maharashtra Stamp Act. (iii) within the limits of anyGrampanchayatarea or any such area not mentioned in sub-clause (ii). Declaration of -- of, or concerning, any property when made by any writing not being a Will,--, (a) where there is disposition of property, --. Who bears and pays the stamp duty is a matter of agreement between the parties. Insection 34of the principal Act, in the proviso, in clause (a), in sub-clause (ii), in the proviso, for the word double the words four times shall be substituted. (ii) For the purpose of clause (da), the number of shares issued or allotted in exchange or otherwise shall mean, the number of shares of the transferor company accounted as per exchange ratio as on appointed date. if(MSFPhover) { MSFPnav2n=MSFPpreload("../_derived/home_cmp_Profile110_home.gif"); MSFPnav2h=MSFPpreload("../_derived/home_cmp_Profile110_home_a.gif"); } A leave and licence agreement is a contract between a licensor and licensee that allows the latter to occupy the former's property for a certain period. Nothing is legal that adopts a method in effecting a transaction so as to reduce or lessen the liability of stamp duty. The law on stamping and registration. (b) where there is no disposition of property, --. The Maharashtra Stamp Act extends to the whole of the State of Maharashtra. 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. Memorandum of any association nor formed for profit and registered under section 25 of the Companies Act, 1956, (I of 1956). Sub : Levy of Stamp Duty on the Deeds of Agreements made prior to 10/12/1985 Reference : Your Letter No.BOM/5064/06 dated 03/08/2006 . The Contact Details of ACCs, SHCIL Offices and SROs are available on the Web site "www.shcilestamp.com" TRADEMARK LICENSE AGREEMENT Revocation of -- of, or concerning, any property when made by any instrument other than a Will. However, once the market value of a property crosses over Rs.30 Lakh, the buyer is required to pay 1% of the market value as the . However, the maximum penalty cannot exceed four times the amount of duty involved i.e. If on adjustment, no duty is required to be paid then a minimum duty for the conveyance shall be Rs. (a) if the amount agreed does not exceed Rs. The leave and license agreements should be stamped with a stamp duty charge of 0.25% of the total rent for the period. Explanation III.(i) For the purposes of clause (da) the market value of shares,--, (a) in relation to the transferee company, whose shares are listed and quoted for trading on a stock exchange, means the market value of shares as on the appointed day mentioned in the Scheme of Amalgamation or when appointed day is not so fixed, the date of order of the High Court; and, (b) in relation to the transferee company, whose shares are not listed/or listed but not quoted for trading on a stock exchange, means the market value of the shares issued or allotted with reference to the market value of the shares of the transferor company or as determined by the Collector after giving the transferee company an opportunity of being heard. (3) It shall be the duty of the proper officer so authorized under sub-section (2) to make an endorsement on the instruments after defacing the challan, as follows : Stamp duty of Rs. In Maharashtra, leave and license agreements are required to be stamped, with a flat stamp duty . 0.2 % of the amount agreed in the contract. Explanation- for the purpose of this clause, the principal or primary security shall mean, the security created under clause (a) or (b) above. // -->