If you are a tenant or a landlord, you must know the stamp duty for rent agreement in West Bengal. You must pay stamp duty on a rental agreement if you wish to register it. This gives the leasing agreements legal standing. As far as I know, the length of the lease determines the stamp duty value for a rent agreement. I have shared the charge below.
What is the Stamp Paper Value for Rent Agreement in West Bengal?
In West Bengal, the stamp duty for a rent agreement is Rs. 100 if the agreement is for a duration of up to 11 months. For agreements exceeding 11 months, the calculation of stamp duty is based on the property's market value. It is also based on the rent amount and the security deposit. Here's a breakdown:
For 1 year: 4% of the total annual rent or the annual rent plus the deposit amount, whichever is higher.
For over 1 year: 5% to 6% of the average annual rent for the entire duration.
Example Calculation:
Monthly Rent: Rs.10,000
Security Deposit: Rs.50,000
Duration: 3 years
Total Annual Rent: Rs.10,000 x 12 = Rs.1,20,000
Stamp Duty: 4% of Rs.1,20,000 = Rs.4800
Steps to Pay Stamp Duty in West Bengal
You can follow the below tips to pay for your stamp duty on WB.
Use the above rates to calculate the required stamp duty.
Buy non-judicial stamp paper of the calculated value or use the online e-stamping service available on the official West Bengal government website.
Prepare the rent agreement with all necessary details and print it on the stamp paper.
Ensure that both the landlord and the tenant sign the agreement in the presence of two witnesses.
Register the agreement with the local sub-registrar's office for additional legal protection.
I hope you understand the stamp duty for rent agreement in West Bengal.
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What is the Stamp Duty for Rent Agreement in West Bengal?
Namrata76
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2024-12-27T18:57:13+00:00 2024-12-28T08:57:28+00:00Comment
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