Stamp Duty Payable On Service Agreement In Maharashtra

Question 6. Does stamp duty have to be paid on transactions or instruments? 2. The assignment of copyright shall be exempt from stamp duty. (17) Freedom Fighters` Agreements. – « In the exercise of the powers conferred by section (a) of the Bombay Stamp Act, 1958 (Bombay LX of 1958), the Government of Maharashtra, throughout the State, shall leave the tax levied under the said Act in respect of any agreement which freedom fighters are required to apply to it in connection with the provision of financial support by the Government. » [7],%202013%20.pdf The Indian Stamp Act of 1899 was enacted to consolidate and amend the Stamp Act. It extended to all of India, with the exception of the state of Jammu and Kashmir. The Indian Stamp Act, 1899 is Central Enactment and the State has the power to take over the Indian Stamp Act of 1899 with an amendment to match the transaction specific to each State. Some states introduced « Schedule I » into the State of India Act, the stamp duty payable in the state in 1899. States such as Maharashtra (The Bombay Stamp Act, 1958), Gujarat (The Gujarat Stamp Act. 1958), Karnataka (The Karnataka Stamp Act, 1957), Kerala (The Kerala Stamp Act 1959) and Rajasthan (The Rajasthan Stamp Act, 1998) have their separate Stamp Act, while many states follow India`s Stamp Act of 1899. (6) becomes unnecessary as a result of the transaction that another instrument between the same parties is intended to carry out and stamped with at least a lower value; 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. In exercising the powers conferred by Section 9(a), the Government shall have the power to grant, in certain cases, reductions or remissions of stamp duty.

Below you will find some important notifications regarding Q10. What provisions/articles of the Indian Stamp Act, 1899 attract stamp duty to the state of Maharashtra? (i) the tax on which that tax is levied or, in the case of an insufficiently stamped act, the amount necessary for the imposition of that tax and the tax rates for instruments related to the transfer of immovable property vary from place to place. The phrases are set out in section 25 of List I of the Bombay Stamp Act, 1958.

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