Maharashtra Stamp Duty Hike 2024: Key Amendments

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On October 14, 2024, the Revenue and Forests Department of Maharashtra introduced significant reforms to the state’s stamp duty structure by releasing Maharashtra Ordinance No. XII of 2024. These amendments to the Maharashtra Stamp Act, 1958, will impact a wide range of documents leading to increased costs for individuals and businesses alike.

The Ordinance has increased the stamp duty payable on affidavits, agreements and related documents to Rs. 500 from Rs. 100. It has further amended various other articles of the Act as set out in the table below.

Article Description of Instrument Stamp duty before Ordinance Stamp duty post Ordinance
4 Affidavit Rs. 100 Rs. 500
5(h)B Agreement (if not otherwise provided for) Rs. 100 Rs. 500
8 Appraisement or Valuation Rs. 100 Rs. 500
9 Apprenticeship Deed Rs. 100 Rs. 500
10 Articles of Association of a Company 0.2 per cent on share capital or increased share capital, as the case may be, subject to a maximum of Rs. 50,00,000. 0.3 per cent on share capital or increased share capital, as the case may be, subject to a maximum of Rs. 1,00,00,000.
12 Award
(a) relating to immovable property Rs. 500 Same as leviable on conveyance under article 25(b)
(b) relating to movable property
(i) Amount granted upto Rs. 50 lakh

 

Rs. 500 0.75%
(ii) Amount granted above Rs. 50 lakh upto Rs. 5 crores Rs. 37,500 + 0.5% of the amount granted in the award
(iii) Amount granted above Rs. 5 crores Rs. 2,62,500 + 0.25% of the amount granted in the award
27 Counterpart or Duplicate Same as payable on the original, maximum Rs. 100 Same as payable on the original, maximum Rs. 500
30 Divorce Rs. 100 Rs. 500
38 Letter of Licence Rs. 100 Rs. 500
44 Note of Protest by the Master of a Ship Rs. 100 Rs. 500
47(1)(b) Partnership

(b) where such share contribution brought in by way of cash is in excess of Rs. 50, 000

One per cent of the amount of share contribution, maximum Rs. 15,000 One per cent of the amount of share contribution, maximum Rs. 50,000
49 Protest of Bill or Note Rs. 100 Rs. 500
50 Protest by the Master of a Ship Rs. 100 Rs. 500
52(a) Release – Ancestral Property Rs. 200 Rs. 500
58(a) Surrender of Lease – Without any consideration Rs. 200 Rs. 500
63 Works Contract
(a) Upto Rs. 5 lakh Rs. 500 Rs. 500
(b) Above Rs. 5 lakh Rs. 500 Rs. 500 + 0.3% of the amount above Rs. 5 lakh, maximum Rs. 25,00,000

For a complete reference to the updated provisions, the full text of the Ordinance can be accessed here.

 

For more information about the aforesaid development you may write to us at: solutions@bridgeheadlaw.com.

 

Karan Narvekar | Partner

 

Missba Zariwala | Associate

 

Views expressed are personal to the authors and do not constitute as legal advice.

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