F30. What is the stamp duty rate for instruments related to the transfer of real estate? A compensation contract may be a single contract and/or part of a larger general contract between the indemnitee and the indemnitee. If an exemption contract as a clause/article is included in a broader overall contract, it should also be stamped to benefit from the exemption. According to the Bombay Stamp Act of 1958, a compensation contract is stamped with the 500/- rule (only five hundred rupees). Therefore, the stamp duty applicable to the compensation must be paid at the same time as the stamp duty applicable to the largest general contract. These are two types of stamp documents that are mainly used in India 1. Paper court stamps are used for transactions with the law. Use: payment of stamp duty in respect of transactions with civil and criminal courts. 2.

The non-judicial stamp document Stamp papers used for the execution of documents shall be designated as non-judicial stamp documents. Extrajudicial stamps often used throughout the country to register contracts, agreements, documents, wills, etc. Use: agreements, deed of sale, affidavit, obligation, undertaking, declaration, etc. Same tax as for carriage on the amount guaranteed by the Act The Maharashtra (Bombay) Stamp Act, 1958 comes into force on 16 February 1959 and applies in the State of Maharashtra. The purpose of this act is to impose stamp taxes on certain types of documents exported within the state or brought in from outside to act in the state. The various instruments and documents are covered in general under different articles 62 listed in Annex I of the Act. The phrases at which stamp duty is levied on these documents are listed in Schedule I of the Maharashtra (Bombay) Stamp Act, which collects stamp duty on documents/instruments creating, transferring, limiting, extending, removing or registering a right or liability. Stamp duty must be paid on the instrument and not on transactions.

4.8 Stamp duty shall be paid at the rates set out in Annex I. Depending on the instrument, it can be based on market value, surface area or various other criteria. In the case of instruments based on the market value of the immovable property, the concept of immovable property which is the subject of an instrument is the price that the property would have obtained if it were sold on the open market at the time of the execution of that instrument or if the consideration indicated in the instrument was indicated, whichever is higher. [2] Section 2 (26) of the Act: „stamp“ means any mark, seal or approval by an agency or person duly authorized by the Land Government and contains an adhesive or engraved stamp for the purposes of the tax levied under this Act. No. 5 / Stamp Duty 06 / Letter. No. 58/06/1224 Inspector General at Registration & Stamp Maharashtra State, Pune Office, Pune. Date: 10/08/2006 TB, The Superintendent of Stamps, Mumbai. Under: Collection of stamp duty on deeds of agreements concluded before 10/12/1985 Reference: Your letter No BOM/5064/06 of 03/08/2006 Referring to the points raised in the above letter, we explain as follows: For sales contracts concluded before 10.12.1985, stamp duty applied in accordance with section 5(h) of the Bombay Stamp Duty Act 1958 and not section 25 of the Act. This is in line with the Judgment of the High Court of Honorable Mumbai in the Padma Nair V/S Dy case. Collector, Stamps & Adjudication and others.

Where State contracts concluded before 10.12.1985 are submitted pursuant to Article 31, the stamp collector may not comment on those agreements in accordance with Article 32(C)(A) and (B). In accordance with Article 33 or the Amnesty Scheme, instead of issuing an order, you can send a letter to the data subjects who have submitted such documents in the following format. „Your deed of sale is executed before 10.12.1985. At the time of the execution of your deed of sale, the contract of sale was not treated as a partial discount and the provision relating to the collection of stamp duty was not applicable at that time. . . .