Before mentioning the stamp duty for leave and license agreement in Pune, let me share what it means. A lease and license agreement is an agreement where the licensor temporarily allows the licensee to use the licensor’s property. It can be a full use of the property or a partial use. This is usually done when the licensee wants to carry out a business. The stamp duty will be around 0.25% on the complete rent of the period.
What is the Stamp Duty Rate on Leave and License Agreement in Maharashtra?
In the entire state of Maharashtra, including Pune, the leave and licence agreements need to be stamped with a stamp duty rate of 0.25% of the total rent for the stipulated period. If a non-refundable deposit has been paid to the landlord, stamp duty at the same rate shall apply to such an amount as well. I hope this clarifies what is the charges for leave and License agreement in Pune.
Previously, people, to reduce the stamp duty, used to pay a good amount as an interest-free deposit along with the nominal rent. But now, it has stopped. On any refundable amount collected by the landlord, a notional annual interest rate of 10 percent is charged. This stamp duty rate is the same for both residential and commercial premises. The leave and licence agreement can be executed for a period not exceeding 5 years or 60 months.
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What are Stamp Duty for Leave and License Agreement in Pune?
Piyush
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2024-03-20T10:59:43+00:00 2024-03-20T12:29:28+00:00Comment
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