Stamp duty on leave and license agreements slashed in Maha
  • This Section
  • Latest
  • Web Wrap
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


comments powered by Disqus