Stamp duty is the tax/tax levied as compensation for the legal validity of your agreements. The stamp duty required for different documents varies from state to state. As a rule, in the case of holiday and license contracts, it is up to the donor/lessor to pay the recommended stamp duty for the agreement. Under section 36 A of the Bombay Stamp Act, 1958, the stamp duty for leave and licence agreements is 0.25% of the tax base calculated according to the following formula imposed by the State Government of Maharashtra — section 52 of the Indian Easements Act, 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. If you had your holiday and license agreement registered by a lawyer in Mumbai, it could cost between INR 3,000 and INR 7,000, including lawyer`s fees. If you want to do it yourself, the INR fee is 1,000 if your property is covered by Municipal Corporation and INR 500 if your property is located in a rural area. Note that the agreement must be registered within 4 months of its signature. Our representative will verify the identity of the owner and tenant with the Aadhaar number with 2 witnesses. Once the verification is complete, you will receive your registered agreement within 3 working days. In order to reduce the frequency of stamp duty, people used to pay a considerable amount as an interest-free deposit with the nominal rent. This gap has been filled and now, in cases where a refundable bond is recovered by the owner, a notional annual interest rate of 10 percent is charged to that interest-free deposit and you have to pay stamp duty at the same rate, on that interest for each year of the term of the license agreement. Once the agreement has been submitted online by biometric scans and photos, it takes about 2-3 business days for the Sub-Registrar to verify and approve them. The soft copies of the registered lease are then sent by e-mail to the parties concerned.
Our trained executive will visit your front door to provide a service, execute the agreement You can pay stamp duty on the Maharashtra government electronic registration portal. In addition, you decide to establish your holiday and license agreement about us, as we pay stamp duty and ensure that your agreement is registered. You can calculate both stamp taxes and registration fees from our stamp duty calculator….