Stamp Duty On Leave And License Agreement In Maharashtra

2.1 There is no legal definition of leave and licence. The first relevant law for leave and a licence was the Indian Easements Act of 1882. Page 52 of the Act, a licence defines a licence as a right that a person grants to another person to do something on or on the land of the installation company that would be illegal in the absence of such a right. In addition, a license should not be a relief or an interest in the property. A license is therefore only an authorization or a right to do something about a property. It is exclusively a personal right or privilege granted to the licensee by the licensee. A license does not give any interest to the property. It is the owner`s responsibility to register the lease, otherwise the lessor may have to pay a fine of 5,000 Ds and expect 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.

A tenant can only revoke an agreement if it is expressly mentioned in one of the clauses. The licensee may issue a notification to the licensee, in which he expresses his wish to market the licensee. The deadline for the adoption of the notice should be set in the agreement. 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. In Maharashtra, holiday and licensing contracts must be stamped with a flat rate of 0.25 per cent of the total rent for this 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. A rental and licensing agreement is known to be comfortable for the landlord compared to the benefits it offers to the tenant. However, because they both have the right content of the clauses, they can turn on each other. We hope, with the help of the above knowledge, it will help each of you to design the right deal with less or no friction! MAHARASHTRA GOVERNMENT Thursday, July 8, 2000 Part 4 A REVENUE and Forest Department Mantralaya, Mumbai 400,032, dated June 8, 2000 Notification The Registration Act, 1908. No. RGN.2000/2120/CR-592/M-1- In the exercise of the powers conferred by paragraphs 78 and 79 of the Registration Act, 1908 (XVI 1908), in its application to the State of Maharashtra, read with subsection (1) of Section 55 of the Mahartra Rent Act Control, 1999 (Mah.

18th of 2000), the government of Maharashtra amended the ROYALty TABLEAU, which was established under Section 78 and published under the government`s note, Ministry of Taxation No. 2000, effective in 2000. Rgn. 1558/67731-N, dated 17 July 1961, as requested in section 79, namely: in the royalty table above, the following article is interested in Article III, namely; « III A For the registration of a document of the leave and licensing agreement, if this document relates to the property; A borders; Municipal Corporation 1000 In any other sector 500 On order and on behalf of the Governor of Maharashtra, P. G. CHHATRE Under Secretary of Government In case you don`t know what do`s and don`ts create such an agreement, you can try our prefabricated, lawyer, leave and licensing contract contract that can be adapted to suit your needs! The registration of leave and licences is mandatory under Section 55 Maharashtra Rent Control Act, 1999 (MAH.