TYPES OF INSTRUMENTS OR DOCUMENTS

Articles of Schedule I of Bombay Stamp Act, 1958

At present there are 62 Articles of Schedule I of Bombay Stamp Act, 1958 which are grouped in three categories.

Category i) Articles whose amount of taxation is fastened regardless of the value mentioned within the document / instrument. ( Viz. Administration Bond, Adoption Deed, Affidavit, Divorce, Appointment in Execution of Power, Apprenticeship Deed, Article of Clerkship, Award, Cancellation Deed, Charter Party, Duplicate, Copy of Extracts, Entry of Memorandum of Marriage, Indemnity Bond, Letter of License, Memorandum of Association of a Company, Notarial Act, Power of Attorney, etc.)

Category ii) Articles where depending upon the value mentioned in the document, the amount of stamp duty is varied. (Viz. Agreement Relating to Article of Association, Clearance List, Deposit of Title Deeds, Lease, Mortgage Deed, Pawn, Pledge or Hypothecation, Security Bond, etc.);

Category iii) Articles that attracts tax on the thought mentioned within the document or True Market Value, whichever is higher. (Viz. Agreement for Sale, Conveyance, Development Agreement, Exchange, Partition, Partnership Deed, Transfer, Trust, etc.) for;

Category i and ii) Types of Instruments the Stamp duty payable can be ascertained by referring to the Schedule I; But to ascertain the Stamp Duty on the Instruments mentioned in;

Category iii) The expertise in valuation is required. The True Market Value is determined as per the provision of the Bombay Stamp (Determination of True Market Value of the Property) Rules, 1995.

Gift Deed : Recent Maharashtra Stamp (Amendment) Act, 2015. (w. e. f. 24th April 2015)

In Article 34, in column 2, after the existing proviso, the following proviso shall be added, namely:- Provided further that, if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson, grand-daughter, wife of deceased son, the amount of duty chargeable shall be rupees two hundred.;

Prior it was 2 % on True Market Value, which came into force in year 2002, w. e. f. 01/05/2002.

PENALTY ON STAMP DUTY IF NOT PAID ON TIME (w. e. f. 2th April 2015)

Now the Penalty on deficit amount of Stamp Duty shall attract 4% per month (4 times) as per newly Amendment of section 31, sub section (4). However maximum penalty can be only 4 times of the deficit amount of the stamp duty. (This amendment has come into force from 24-04-2015).

Prior penalty was 2 % per month (2 times of stamp duty amount) which came into force in year 2001, w.e.f. 01/05/2001.

The Maharashtra Stamp (Amendment) English & Marathi Act, 2015.

There are 62 types of documents, every documents has its own signification with a separate deed which are as below.


Atricles Description of Instruments
1   Acknowledgment
2   Administration Bond
3   Adoption Deed
4   Affidavit
5   Memorandum of an Agreement
6   Agreement Relating to Deposit of Title Deeds, Pawn, Pledge or Hypothecation
7   Appointment in Execution of Power
8   Appraisal or Valuation
9   Apprenticeship Deed
10   Articles of Association of a Company
11   Articles of Clerkship
12   Award
13   Bond
14   Bottomory Bond
15   Cancellation
16   Certificate of Sale
17   Certificate or other Document
18   Charter Party
19   Clearance List (Purchase or Sale of Government Securities)
20   Clearance List (Purchase or Sale of Cotton)
21   Clearance List (Purchase or Sale of Bullion)
22   Clearance List (Purchase or Sale of Oil Seeds)
23   Clearance List (Purchase or Sale of Yarn)
24   Composition Deed
25   Conveyance ( 1, 2, 3, 4, 5, 6)
26   Copy or Extract
27   Counterpart or Duplicate
28   Customs Bond or Excise Bond
29   Delivery Order
30   Divorce
31   Entry or Memorandum of Marriage
32   Exchange of property (1, 2, 3, 4, 5, 6)
33   Further Charge
34   Gift (1, 2, 3, 4, 5, 6)
35   Indemnity Bond
36   Lease (1, 2, 3, 4, 5, 6)
37   Letter of Allotment of Shares
38   Letter of License
39   Memorandum of Association of a Company
40   Mortgage Deed (1, 2, 3, 5, 6)
41   Mortgage of Crop
42   Notarial Act
43   Note or Memorandum
44  Note of Protest by Master of Ship
45   Order for the Payment of Money
46   Partition (4,5,6)
47   Partnership
48   Power of Attorney
49   Protest of Bill or Note
50   Protest of the Master of Ship
51   Reconveyance of Mortgaged Property
52   Release (1, 2, 3, 4, 5, 6)
53   Respondentia Bond
54   Security Bond or Mortgage Deed (1, 2, 3, 5, 6)
55   Settlement (1, 2, 3, 4, 5, 6)
56   Share Warrants
57   Shipping Order
58   Surrender of Lease (1, 2, 3, 4, 5, 6)
59   Transfer (1, 2, 3, 4, 5, 6)
60   Transfer of Lease (1, 2, 3, 4, 5, 6)
61   Trust (1, 2, 3, 4, 5, 6)
62   Warrant of Goods.

Classification of Documents

Documents also can be classified as a Testamentary and Non Testamentary relying upon the time after they inherit force.

The document such as, "WILLS" does not come into force immediately are Testamentary Type.

The document such as, "SALE DEED" or "LEASE DEED" etc documents come into force immediately are Non Testamentary, and these documents has to be registered compulsorily, while for some documents, it is optional e.g. Affidavit, Declaration, Indemnity Bond, etc.





How to calculate Market Value

We have explained in details how to calculate Market value of Property.

How To Pay Stamp Duty And Registration Fee

Maharashtra State Government has provided various types of facilities to the public for the payment of Stamp Duty through various types of mode and has appointed Nationalized Banks, Schedule Banks, Private Banks and the Co-operative Banks which are authorized by Reserve Bank of India. With view that the facility of payment of stamp duty is made easily available to the public therefore different arrangements are in force.

Online Leave and License Registration

The Department of Registration and Stamp, Maharashtra State Government had appointed Authorised Service Providers to register Leave and License Agreement in Maharashtra.

Important Timeline of Maharashtra State

We have provided the Timeline Events of Registration and Stamp Department, Maharashtra State.