stamp duty and registration
Querist :
Anonymous
(Querist) 08 November 2009
This query is : Resolved
Dear All,
Where will i find article on stamp duty and registration amount payable on Lease / Leave and License and Business Conducting Agreement accross the states in India.
Please guide me in this regard.
Arun Wadikar
Advocate
Raj Kumar Makkad
(Expert) 08 November 2009
Try to purchase a boook from any publisher of law book. No such site containing/covering all states is available on net.
AEJAZ AHMED
(Expert) 08 November 2009
Leave and Licence agreements are not required to be registered under the Indian Registration Act, 1908.
Similarly, under the Bombay Rent Act, 1947 registration of the agreement is not mandatory. But, the Maharashtra Rent Control Act, 1999, by virtue of Section 55, compulsorily required the agreement to be in writing as well as registered.
Leave and Licence is different from a Lease:
It is important to note that ''Leave and Licence'' and ''Lease'' are not the same things. In case of a lease, the rights in the property and the right to enjoy the property are transferred to the lessee whether for a specified period or in perpetuity. However in the case of Leave and Licence, there is only a license to use the property and all the rights are reserved by the licensor.
If the premises are in Maharashtra, the Stamp Duty on a Leave and Licence agreement is levied according to Section 36A of the Bombay Stamp Act, 1958.
The concept of Leave and Licence is truly compatible with today''s fast moving world. Therefore, this practice has gained wide-spread acceptance in most cities within India.
