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). 10% x Refund fee x Number of contractual years – C After the required taxes have been successfully paid, the applicant must book an appointment with the sub-registration. Arrival at the sub-registrar with the required printed documents ensures that the successful registration of the applicant`s property is done quickly. 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). 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. The registration of leave and licences is mandatory under Section 55 Maharashtra Rent Control Act, 1999 (MAH. ACT NR.
18 von 2000) (w.e.f. 31-3-2000) Section 55. The lease must be registered. 1. Notwithstanding the provisions of this Or other statutes, any leave and licensing or lease agreement between the lessor and the tenant or licensee is registered in writing and in accordance with the 1908 Registration Act, after the commencement of this Act. (2) Responsibility for the registration of such a contract rests with the lessor and, in the absence of the registered written agreement, the tenant has priority over the conditions under which the landlord gave or was transferred to him a property on holiday and in license, unless there is evidence to the contrary. 3. Any lessor who violates the provisions of this section is liable to a prison sentence of 3 months or a maximum fine of $5,000 or both if convicted. In the Maharashtra State License, which was ruled by the Indian Easement Act, in 1882. Section 52.
“Licence” is defined as: when a person grants another person or a number of other persons the right to do or do something on or on the land of the funder who, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property, the right is qualified as a licence. Note: The rental of a property on vacation and basic license does not allow any interest in the premises on the part of the licensee and fulfills certain rights of simple use and occupancy or enjoyment of a residential or commercial property for a limited time. Stamp duty: Bombay HC stamp duty cannot be levied for past transactions. To register the contract, you will need some basic documents from the tenant, landlord and witnesses, such as a passport-sized photo. B, a photocopy of proof of identity (for example. B PAN card) and the electricity bill or real estate document such as index II or receipt of taxes from the property that is rented. It is very easy to calculate (for each twelve-month period) just choose the months then enter the refundable deposit value and or non-deposit value if mentioned in the document, then select the type of compensation/rental, and finally, select real estate in rural or urban areas and click the calculation button and you get the STAMP – FEE REGISTRATION with TAXED AT SOURCE (T.