Stamp Duty and Franking of Agreement

1) How much would be the Franking value of the Agreement ?

Ans. Twice the amount of duty chargeable for residential premises

2) How much would be the Stamp Duty? As per the ammendment act of 2009 to Bombay Stamps Act 1958... the duty payable for a license period of 12 months for amount upto 2.5 lakh  has been slashed from Rs 1500 to Rs 1200.

Ans. The stamp value will depend on the amount of compensation paid under the license agreement. it will be twice the amount of duty chargeable for residential premises

3) In whose name should the bank draft of stamp duty be payable to?

Ans. The amount has to be paid at the office of Collector of Stamps or in the Govt Treasury, for more details approach the jurisdictional registration office for complete details.

The agreement should be registered. Registration is mandatory in Maharasthra.

vasudevan