Stamp Duty Payable On Share Purchase Agreement In Maharashtra

Update March 6, 2020: During the presentation of its budget for the fiscal year 2020-21 on March 6, 2020, the Maharashtra government proposed a 1% reduction in stamp duty on the purchase of real estate. The reduced rates apply for two years in areas covered by the Mumbai Metropolitan Region Development Authority (MMRDA) and in the local authorities of Pune, Pimpri-Chinchwad and Nagpur. Currently, home buyers in Mumbai pay a 6% stamp duty on the purchase of real estate, with the exception of a 1% registration fee. In Pune, stamp duty is currently 6%. Share purchase agreement is a transfer document that makes the sale and purchase of shares between the buyer and seller. w.e.f. 19/05/1995 :- The francization of documents began at the Genral Stamp Office, Mumbai. Franking is an alternative to paying stamp duty, as there are no non-judicial stamp papers available. A mark in place of stamps indicating that the amount of tax has been paid, footprints of sagging machines, is in RED INK. This does not apply to houses under construction. When deepening the property type, buyers must pay a GST between 1% (affordable housing) and 5% (non-affordable segments). The Maharashtra (Bombay) Stamp Act, 1958 came into force on 16 February 1959 and is applicable in the state of Maharashtra. The purpose of this act is to impose stamp taxes on certain types of documents exported within the state or brought in from outside to act in the state.

The various instruments and documents are, on the whole, dealt with under different Articles 62, listed in Annex I annexed to the Act. . . .

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