Stamp duty payable in the state of Gujarat is governed by the Gujarat State Stamp Act 1958, based on the Bombay Stamp Act 1958. „For those with a lease of 11 months or less, registration is not mandatory. However, the agreement should contain stamps equivalent to 2% of the rent in order to make the document valid. Most people make their 11-month deals to circumvent stamp duty,“ said SK Singh, Deputy Inspector General, stamped. If we look at all the applicable laws in the country, we can see that all agreements for them to be valid and enforceable in court must be properly validated and labeled. However, the tax would be identical to that of the laws of the State. Where state legislation provides for the possibility of electronic stamps, these are used to advance towards the goal of a paperless economy. While some governments have not yet accepted the value and legitimacy of electronic agreements and electronic seals. Both the state and the central government are eager to make clear arrangements for e-agreements and e-stamping in order to save time and money and simplify business.
Buy the electronic paper out of court of the mandatory tax for the rental contract. Once there was a stamp paper, but now there is only E-Stamp paper launched by the government of Uttar Pradesh in one year 2013, while SHCIL was considered its Central Record Keeping Agency to avoid duplication/fraud for stamp papers. According to officials, people who have taken any type of property, whether residential or commercial, must declare their lease. The last registration date is September 30th. The registration fee is the tenant. District Judge BN Singh gave tenants one month to register their agreements with the stamp duty section. Leases were registered with six shelter offices in the city, three in Noida and one in Greater Noida, Jewar and Dadri. However, if a lease is for a period of 11 months or less, a tenant is not required to register the document.
This is due to the fact that a lease of a minimum of 12 months is subject to the Rent Control Act, while a lease of up to 11 months is not. However, in such cases, the tenant would have to buy stamp vouchers worth 2% of the annual rental amount, which would amount to 2,200 rupees if one considers that the monthly rent is 10,000 rupees. Note: It is the choice of both parties to have the agreement certified by the notary or to register it in the office of the sub-registrar. If you make the lease for more than one year that it is recommended to have it registered in the office of sub-registrar with stamp duty, since the validity for notary stamps in case of contract is 1 year, registered rental contracts also have more power in terms of proof compared to the notarized lease. Local residents` charities welcomed the move, but said the one-month deadline was too short. „This is a good step in the administration, but the deadline for registration with the stamp department should be extended to at least three months. There are a lot of people who have rented their real estate but live in other cities, so it can take a while for people to sign up. For the rest, it is important to register for stamp duty for our own security,“ said NP Singh, Chairman of FONRWA.
Section 17 of the Registration Act 1908 makes it compulsory to register a lease Section 17 (1) (d) rental of immovable property from year to year or for a period exceeding one year or the reservation of annual rent; Noida tenants with a lease agreement between one and five years must pay two percent of the average annual rent as stamp duty to register the document….