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Type of Document: Notification
Document No.: MAHBIL/2009/40123
Date: 17th December 2024
Relevant Act(s)/Rule(s): Maharashtra Stamp Act, 1958
The Maharashtra Stamp (Amendment) Bill, 2024 was introduced in the Maharashtra Legislative Assembly on December 17, 2024, to amend the Maharashtra Stamp Act, 1958.
Increased Stamp Duty:
The stamp duty on various instruments, previously set at nominal amounts (₹100 or ₹200), will be increased to ₹500 for articles 4, 5, 8, 9, 27, 30, 38, 44, 49, 50, 52, and 58.
The stamp duty on the articles of association and award by an arbitrator will also see a higher rate and a maximum limit increase.
Increased Maximum Limit for Partnership Instruments:
Stamp duty on partnership instruments where cash contribution exceeds ₹50,000 will have a higher maximum limit.
Works Contract Stamp Duty:
Stamp duty on works contracts (article 63) will also be increased, along with its maximum limit.
The amendments aim to simplify the levy of stamp duty and increase government revenue.
The Bill replaces the Maharashtra Stamp (Amendment) Ordinance, 2024, which was promulgated on October 14, 2024. It is set to come into force upon approval by the Maharashtra Legislative Assembly.
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