Here are the different types of conditions under which you can get Maharashtra stamp duty refund It should be noted that stamped papers must be issued in the name of one of the parties. Documents issued in the name of the lawyer or accountant of one of the parties will not be considered acceptable. The stamped documents must be in the name of one of the parties to the transaction and not in the name of the auditor or counsel for the parties. According to Section 34 of the Maharashtra Stamp Act, amended in 2017, the stamp duty on deeds of gift is 3% of the value of the property. However, if the property in question is residential or agricultural property and is given (without payment) to family members, the stamp duty is Rs 200. Answer: You can negotiate the registration fee by asking for the draftsman of the deed, negotiating the legal fees and paying the stamped papers. The stamp duty on the bill of sale in Maharashtra would be different from these rates. Similarly, stamp duty on the development agreement in Maharashtra could be different. Apart from that, the issue date of the stamped paper must not be higher than the transaction date. In addition, you can pay stamp duty in the form of embossed or sticky stamps in the document. Stamp duty can be paid by glue or stamps on the deed, under which the adhesive stamp is erased during execution, which means that it cannot be used in the future. The process of determining the stamp duty to be paid when registering a document is called arbitration.
The Government of Maharashtra provides stamp duty decision-making services to assess individuals` responsibility for stamp duty. An official reviews the relevant documents to determine the applicable stamp duty. Answer: Stamp duty is not fixed. It may be amended according to the decision of the Government. The government publishes news about stamp duty in Maharashtra when current rates change. You can try to get some relief from the property registration fee by negotiating rates with the clerk of the act, agreeing to pay for stamp papers, and negotiating legal fees. As mentioned earlier, stamp duty on leases is 5%. Before paying stamp duty, here are some key points to keep in mind – the stamp duty decision refers to the assessment of the amount of stamp duty payable for the registration of a particular document.
The Government provides services related to the stamp duty decision to determine the stamp duty payable. In these units, the staff member reviews the documents that assist him in determining the amount to be paid in view of the stamp duty. Mumbai`s stamp duty rates depend on the region or region where the property is located. The value of the property is always mentioned in the buyer-seller contract. The property, which is located within the municipal boundaries of the urban area, costs 5% of the market value, while each property located near one gram of panchayat costs 3% of the market value for stamp duty. The Maharashtra Stamp Act allows district collectors to request documents within 10 years of registration. Collectors can request documents to verify whether or not the corresponding stamp duty has been paid on them. However, the Bombay High Court had ordered that collectors could not levy stamp duty on earlier documents that had not been properly stamped when the property was sold. If stamping is required on previous documents, the stamp duty would be that applicable on the day preceding the transaction took place.
Therefore, stamp duty and registration duties cannot be collected retroactively. The Maharashtra Stamp Duty Decision is administered in accordance with the following laws: The revision of the Maharashtra Stamp Act introduced online payment of stamp duty. How can I pay Maharashtra stamp duty online? Here are all the steps to make a successful online stamp duty payment in Maharashtra – The Maharashtra stamp duty calculation is based on the Ready Reckoner rate in Maharashtra. Here, the real estate value is highlighted in the purchase and sale contract. It should also be noted that stamp duty on the property depends on its location.