// -->. The government's two year concession from stamp duty hike ends in March . Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on, Explanation II. 5,000, is leviable with Re. stream Aftersection 67of principal Act, the following section shall be inserted, namely : 67A. PDF Schedule I and II to THE MAHARASHTRA STAMP ACT (BOM. ACT LX OF 1958) STAMPS TO BE USED -- Adhesive Stamp (Section 11). Stamp Duty on Merger Maharashtra Amendments to the Indian Stamp Act - Khaitan & Co 25,00,000. A person can be punished with rigorous imprisonment for up to 6 months (not less than 1 month) and with fine up to 5,000, if it is proved that the instrument was undervalued or short payment of duty was made with intention to evade duty. if(MSFPhover) { MSFPnav8n=MSFPpreload("../_derived/next_cmp_Profile110_next.gif"); MSFPnav8h=MSFPpreload("../_derived/next_cmp_Profile110_next_a.gif"); } In the absence of any such agreement, the Act provides that in the case of a Conveyance, duty is to be paid by a buyer and by the lessee in case of a lease. ADOPTION DEED, that is to say, any instrument(other than a Will) recording an adoption or conferring or purporting to confer an authority to adopt. If the amount secured is more than Rs.5 lakhs then the Stamp duty shall be 0.3% of the amount secured subject to a maximum of Rs.20 Lakhs. (A) for the purpose of non -residential use of any nature whatsoever; The same duty as is payable under Article 36(iv). After six months it is mere a piece of paper. On 11th May 2020, the Maharashtra government has lost Rs 3885 crore in stamp duty in 40 days of lockdown. Stamp Duty on lease agreement in Maharashtra 2. GST regulations, Company secretary standards, Stamp duty, contract act, etc. All you need to know about the Maharashtra Stamp Act 2021 (4) The project proponent or the Purchaser of any unit which availed the reduction under this Order shall not be entitled for concession or remission of stamp duty as per any other order or policy. The Maharashtra Stamp (Amendment and Validation) Ordinance, 2021 Insection 32Aof the principal Act, (i) in sub-section (1), after the words by way of assignment the following portion shall be inserted, namely : and also any other instruments mentioned in SCHEDULE I chargeable with duty on the basis of market value of the property; (ii) in sub-section (2), in the third proviso, for the word double the words four times shall be substituted; (iii) in sub-section (4), (a) the first and second provisos shall be deleted; (b) in the third proviso, for the word double the words four times shall be substituted. // -->