Stamp duty on leave and license agreements slashed in Maha

Last Updated: Saturday, March 20, 2010 - 23:06

Mumbai: Rates of stamp duty in Mumbai and
suburbs on Leave and License Agreements will be lowered to
bring uniformity with existing rates in other major cities
like Pune and Thane district.

A bill to this effect was passed in the legislative
assembly Saturday.

Minister of State for Revenue, Prakash Solanke said the
stamp duty of Rs 750 will be brought down to Rs 600 where the
amount of average annual rent plus the amount of security
deposit or money advanced or to be advanced does not exceed
Rs 2.5 lakh for a single term of twelve months.

Similarly, the duty of Rs 1500 will be brought down to
Rs 1200 where the amount of average annual rent plus the
amount of security deposit or money advanced or to be advanced
exceeds Rs 2.5 lakh but does not exceed Rs 5 lakh for a single
term of eleven months.

The duty of Rs 3000 has been brought down to Rs 2000
where the amount of average annual rent plus the amount of
security deposit or money advanced or to be advanced exceeds
Rs five lakh but does not exceed Rs 20 lakh for a single term
of eleven months, the minister said.

Instead of Rs ten, Rs 100 will be charged as stamp duty
on the counterpart or duplicate of any instrument.

Solanke said the revenue earning of state government
through stamp duty till February 2010, stood at Rs 8800 crore.

PTI



First Published: Saturday, March 20, 2010 - 23:06

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