Leave and license agreement is, whether for one (1) month or for eleven (11) months, is considered 12 months, whether it is 50 sq or more, whether it is housing – trade or industry, it is the same calculation for stamp duty and for registration fees, it is different (for Urban or Rural). To my knowledge, you can save it up to age 99. Read the article above to calculate stamp duty. Let us know if you need more clarification. The basic framework for stamp duty is defined in the Indian Stamp Act of 1899, which allows states to change the same rules according to their needs. As a result, the Maharashtra government passed the Bombay Stamp Act in 1958. The payment of stamp duty on leave and licensing agreements are covered by Section 36A of the Bombay Stamp Act of 1958. In the State of Maharashtra, it is mandatory to register the Leave and License Agreement, and it is the responsibility and responsibility of the lender/licensee to pay the correct stamp duty u/a 36A of the Bombay Stamp Act, 1958 and should be registered u/s 17 of the Registration Act, 1908. Wondering how you can pay stamp duty? Get an accurate estimate of the stamp duty you have to pay for your home loan with our online stamp duty calculator. The formula for calculating stamp duty on the lease is 0.25% x D, of which D (monthly rental x number of months) – (pre-rent for the period/non-refundable down payment) – (10% x refundable deposit x number of years of contract). Hi wanted to see if stamp duty was different in rural and remote villages in Maharashtra, near Nasik. Article 36, paragraph A, point A), in clause a), …….
(i) in Column 1, in Column 1, the words “thirty-three months” are replaced by the words “sixty months”; (ii) in columns 1 and 2, the words “11 months” are replaced by the words “twelve months”; As of May 1, 2013, the new stamp duty rates will apply to leave and licensing contracts. In accordance with the new amendment to sub-clause (a) of article 36 bis b), article 36 bis replaces, for sub-clause (a), the following clause, namely: (a) where the leave and licence contract provides for a maximum of sixty months, with or without an extension clause; “0.25% of the total; (i) the licence fee or the rent payable under the contract; plus (ii) the amount of non-refundable deposits or advanced money, or the prior application or premium under any name; plus (iii) interest calculated at a rate of 10% per annum on the refundable bond or advanced money, or advanced under any name. In accordance with the new subsection 2 of Section 70 of the Maharashtra Stamp Act, 1958 For documents with a stamp duty payable of one hundred and forty-nine rupees, $49 is ignored, or more than one hundred and eighty-nine, the amount in question will be rounded by the following hundred rupees. 1) In other words, if the stamp duty is determined on a document is 101 or more until the next 149 is payable. 2) If the amount of stamp duty is equal to or greater than 150 years up to 199 hours of overtime, 200 were payable. How do I calculate the stamp duty on Leave and License Agreement in Maharashtra? We have tried to explain it in a simple way, so that it is easy to understand. 1. (R) Rent 12000/- [month of rent] 2. (M) month 12 [months] 3. (TR) Total rent – (R) x (M) 144000 – 12000 x 12 4.