Stamp Duty On Renting Property

Stamp duty is a tax that is levied on documents. Historically, this included the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions. A physical stamp (a revenue stamp) had to be attached to or impressed upon the document to denote that stamp duty had been paid before the document was legally effective. Major forms of duty include transfer duty on the sale of land (both freehold and leasehold), buildings, fixtures, plant and equipments.

More Modern Versions Of The Tax No Longer Require An Actual Stamp, But The Levy Continues To Be Called Stamp Duty. In The State Government Of Maharashtra Has Rationalized Stamp Duty Charges By Proposing A Standard 0.25% On The Total Sum Of The Leave And Licence Agreement And Deposit Amount.

If you want to register a legally recognized Rent agreement (henceforth called Rent Agreement), You have to register the same and pay stamp Duty for it.

The Government Has Further Made It Compulsory That The Agreement Be Registered With Stamp Duty Paid For The Following

1) Valid address verification

2) Police Clearance – http://www.dnaindia.com/india/report-haven-t-registered-leave-and-licence-agreement-expect-no-police-clearance-2158309

3) Approaching court or police, for pursuing legal rights as tenant/owner over breach of conditions of the agreement

Due to this, Stamp Duty is mandatory for anyone renting a property as old ways that could avoid Stamp Duty are no longer viable and rejected for various government purposes. The Duty to be paid for Residential and Commercial properties varies as per government norms and location.

Rates of Stamp Duty-
We Are is a Government approved Doorstep Rent Agreement registration provider and with us you can in a single click, pay all the taxes and fees related to the agreement. To check specific stamp duty and complete charges you can go to Our Website and check for the exact amount needed to be paid.

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