The applicant can pay taxes and stamp duties online by generating a challan receipt online. The calculation of stamp duty is usually based on some information to be mentioned when registering a property: the NOC policy is not necessary when renting the property on vacation and license agreement, but it is mandatory to file with the local police station the verification form indicating the owners / licensors, tenants/licensees and real estate agents, as well as a copy of the registered document. Policy verification form to download Click here For contract registration, you need some basic documents from the tenant, landlord and witnesses, such as. B a passport photo, a photocopy of proof of identity (e.g.B. PAN card) and an electricity bill or real estate document such as Index II or tax proof of the rented property. The stamp duty rate for holiday and licence contracts is the same for residential premises and for commercial premises. The leave and licence contract may be concluded for a maximum period of 60 months. For example, if you enter into a 24-month vacation and license agreement with a monthly rent of 25,000 rupees and a refundable deposit of five Lakh Rs, you will have to pay a stamp duty of 1,750 rupees (0.25% on the rent of six Lakhs for two years and interest on one lakh for two years). The registration fee for a lease in Maharashtra depends on the location of the rented property. The registration fee is Rs 1,000 if the property is located under a communal territory and it is Rs 500, if it is the same in a rural area.
In the absence of an agreement to the contrary, the costs of stamp duty and registration are the responsibility of the tenant. License Period: Means month/years (no more than 60 months/5 years) for the rental of real estate such as housing, office, business and industry on holiday and the license bases u/a 36A of the Maharashtra Stamp Act. Refundable bond: The amount that the licensee (tenant) has given to the licensor (owner) as a guarantee of good performance and respect) for the maintenance of the property in good condition (unless there is minimal wear and tear). Non-refundable deposit (NRD): the amount that the licensee (tenant) grants to the licensor (owner) as an advance that must be adjusted in relation to the final monthly rent. Note: Tax Deducted Source (TDS): Applies u/s 194(i) of the Income Tax Act, 1961 @ 10% for total rent received in a fiscal year exceeding 180000/or more. In Article 36(A)(a)(a)(i) in column 1, for the words `thirty-three months`, the words `sixty months` shall be replaced by the words `sixty months`. (ii) in columns 1 and 2, the words `eleven months` shall be replaced by the words `twelve months`. As of May 1, 2013, the new stamp duty rates will apply to leave and licence agreements. 1) In other words, if on a document is stamp duty ₹ 101 or more ₹ 149, then ₹ 100. . . .