Registered Rent Agreement Navi Mumbai

In order to reduce the impact of stamp duty, people paid a substantial amount as an interest-free surety, as well as nominal rent. This gap has been filled and, in cases where a refundable deposit is recovered by the owner, a fictitious annual rate of 10% is set on an interest-free deposit and you must pay stamp duty at the same rate for each year of the term of the licence agreement. We are a technology-driven company that insists on data management without manual intervention. Reciepts, agreements and each document are provided electronically. TDS provisions relating to rents paid under income tax legislation. Click “New” to create your registered profile in the e-Filing database. Our trained leader will visit your front door to provide a service, execute agreements In Maharashtra, leave and licensing contracts are required to be stamped, with a flat rate of 0.25 percent of the total rent for that period. If a non-refundable bond is also paid to the lessor, stamp duty will be levied at the same rate on these non-refundable bonds. Pre-rent for the period/non-refundable deposit – B The basic framework of stamp duty is set by the Indian Stamp Act of 1899, which allows states to amend the same provisions according to their needs. As a result, the Maharashtra government passed the Bombay Stamp Act in 1958.

The payment of stamp duty on leave and licensing agreements are covered by Section 36A of the Bombay Stamp Act of 1958. We send broadcast data recorded on your email once received by the government in due course It is the owner`s responsibility to ensure the registration of the rental contract, otherwise the owner can pay a fine of Rs 5,000, as well as himself with a prison sentence of up to three months. If the leave and licence contract is not registered and there is a dispute between the lessor and the tenant, the contractual terms invoked by the tenant are considered to be the actual and correct conditions under which the property was granted to the tenancy, unless there is evidence to the contrary.