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Stamp Duty In Madhya Pradesh

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Have you heard of Stamp Duty? Still wondering what are the full implications of such a duty? Surely, you may have heard of it while one of anybody’s crucial documents are about to get ratified by the Registrar office. Here, at LegalDesk.com, our main objective is to bring legal documentation service and knowledge on civil laws to the public, and part of that plan is to equip you with the knowledge on contemporary laws governing Rent Agreement, Sale deeds, Affidavits, Notarisation, etc. So, what do these have in common? You may have already guessed that it is the Stamp Duty.

A tax instrument in itself, wielded by both the Central and State governments depending on the type of service or document you are trying to prepare, Stamp Duty also gives the return benefit to you or any customer subscribing to its service, a ‘stamp’ of authenticity or what you may call the ‘legal recognition’.

Now, let us explore the question of whether the instrument you are subscribing to, according to the Indian Stamp Act, 1899, mandates you to print it on a Stamp paper and pay the duty due, or just pay the necessary duty.  

What Documents Require Stamp Duty Payment In Madhya Pradesh?

Though the standard particulars are decided by the Indian Stamp Act, 1899, it is flexible enough to be accommodative based on the state it is being applied. In other words, the state does possess the autonomy or has a say in what will be the rate of duty charged on a certain document. It is stipulated by the Indian Stamp (Madhya Pradesh) Amendment Act, 2014.

Nature of the Instrument Stamp Duty
Acknowledgement – of value exceeding ₹ 500 in amount or value   ₹ 10
Affidavit – A statement in writing purported to be a fact, to confirm the written statement to be true. The Affidavit is the oath that holds it in good faith. ₹ 50
Power of Attorney

  1. When authorising one person or more on a single transaction
  2. When authorising one person in more than a single transaction
  1. When authorising the agent to sell, exchange or permanently alienate any immovable property
  1. Agent is member of the family
₹ 1,000
₹ 2,0005% of the market value of the property
₹ 1,000
Gift Deed

  1. To a member of the family
  1. To others
Half of 5% of the market value of the property – 2.5%
5% of the market value of the property.
Lease Agreement
(a)When a lease duration does not extend more than a year 0.01 % of the whole amount payable under such lease or the market value of the property
(b) When a lease purports to be between 1 to 5 years 0.1 % of the premium advanced plus average annual rent reserved or 0.1% of the market value of the property (whichever is higher)
(c) When a lease purports to be between 5 to 10 years 1% of the premium advanced plus average annual rent reserved or 0.1% of the market value of the property
(d) When a lease purports to be between 10 to 20 years 2% of the premium advanced plus average annual rent reserved or 2% of the market value of the property
(e) When a lease purports to be between 20 to 30 years 4% of the premium advanced plus average annual rent reserved or 4% of the market value of the property.
(f) When a lease purports to be for a term of 30 years of more 5% of the premium advanced plus average annual rent reserved or 5% of the market value of the property
Sale Deed 5% of the market value of the property.

Where Do I Pay Stamp Duty In Madhya Pradesh?

We are living in the times of digitization. Apart from reducing the tediousness of government appointed clerks, this also offers radical solutions to people looking to authorise their documents with ease and transparency. SAMPADA, a government initiative to digitise documents has hence simplified the process of registration and also provides e-Stamping services. Instead of finding a Stamp paper vendor, all you have to do is visit your nearest Sub-registrar office and pay the duty while they scan your thumbprint and take photographs (subject to variation depending on the type of document you are subscribing).

Are There Different Kinds Of Stamp Papers?

As part of the SAMPADA computerisation initiative, more and more Stamp duties do not require different kinds of Stamp papers unless it is a judicial document. With 51 District Registrar offices and 234 Sub-Registrar offices, their public outreach has dramatically increased and the so has the ease with which you can pay duties. So, visit your nearest Sub-Registrar office without having to worry about what kind of Stamp paper you may have to use, as its usage has been reduced to redundancy.

How Can We Help?

LegalDesk.com has spread its influence in the private legal service sector in almost all states and union territories of India. Committed to providing legal-tech solutions (as it is increasingly being referred to, by letting customers access legal drafts online at the click of a button), LegalDesk.com can, in the long run, indicate to several implications. In this process, it is also important to carry along other government institutions which may hinder the progress of legal documentation. These problems can occur in the form of the long-drawn process procuring authentic Stamp papers or getting a document signed in the presence of witnesses and all parties.

19 Oct, 16

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Latest Comments

There are 3 comments on "Stamp Duty In Madhya Pradesh".

 

  • ***Buddha Deo Pandey*** says: posted on 08 Jan, 2018

    how much stemp duty for mining lease agreement for limestone mining in madhya pradesh. how to calculate the duty for registration, our lease grant for fifty years.

  • ***Yogesh Rathore*** says: posted on 21 Jul, 2017

    How much stamp duty for NBFC tractor finance at Madhyapradesh

  • ***OM PRAKASH RATHI*** says: posted on 04 Jul, 2017

    IF A SHARE BROKER REGISTERED OFFICE IN M.P.HOW MUCH STAMP DUTY TO PAY IN SHARE TRANSACTIONS

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