Stamp Duty On Unsecured Loan Agreement In Maharashtra

2. The assignment of copyright shall be exempt from stamp duty. Same obligation as in the case of carriage to the amount of consideration Each contract / contract of 100 rs or more must be registered and performed under the stamp of paragraph X, 1. A contract of sale providing for the transfer of ownership is considered a « transfer » and is stamped accordingly. However, compensation for the tax paid shall be made at the time of performance of the carriage. what is stamp duty payable on loan agreement? 5.1 According to section 34 of the Act, any act that is insufficiently or not inadmissible as evidence for any purpose, for example.B. before a civil court. These instruments may be authorized as evidence against payment of the amount of customs duty required and a penalty of 2% per month on the defaulting amount of duty calculated from the date of execution. However, the maximum penalty may not exceed four times the amount of the duty. 1. The value of the largest remaining share after division shall be excluded for tax purposes 2.2 S. 3 of the Law levies stamp duty on each instrument executed in the State at the rate provided for in Annex I. Even documents exported outside the State are taxable only after they have been received in the State, provided that it is immovable property located in the State or a business or thing to be done in the State.

The loan agreement must be subject to a minimum stamp duty, in accordance with section 5(h) of List I of the Bombay Stamp Act, 1958. Stamp duty is set at Rs.100 / If the loan agreement document is not a registered document, no stamp duty is payable. 4.3 The fee may be paid by stamps adhesively or engraved on the instruments. Adhesive stamps affixed must be erased at the time of execution, so that they are not available for reuse. 4.4 In addition, s.14 prohibits the letter of a second taxable instrument on a buffer paper on which a taxable instrument is already registered. 4.5 The stamps must be in the name of one of the parties to the transaction. You cannot be on behalf of the public accountant or counsel for the parties….

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