HB-2153 Ext. Ord. No. 38 Bill No. XXXI (17-12-2024) L. A. BILL No. XXXI OF 2024. A BILL further to amend the Maharashtra Stamp Act. No. 14(2).

¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 2R6N, I¶ NÉEoäò .1 M94A6HBIL/2009/401213 ¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ ´É¹ÉÇ 10, +EÆ ò 14(2) ] ¨ÉÆMɳý´ÉÉ®úúú, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉø 26, ¶ÉEäò 1946 [ {ÉÞ¹`äö 7, ËEò¨ÉiÉ : ¯û{ɪÉä 36.00 +ºÉÉvÉÉ®úhÉ Gò¨ÉÉEÆ ò 38 |ÉÉÊvÉEÞòiÉ |ÉEòɶÉxÉ ¨É½þÉ®úɹ]Åõ Ê´ÉvÉÉxɺɦÉäiÉ ´É ¨É½þÉ®úɹ]Åõ Ê´ÉvÉÉxÉ{ÉÊ®ú¹ÉnäùiÉ ºÉÉnù®ú Eäò±Éä±ÉÒ Ê´ÉvÉäªÉEäò (<ÆOÉVÉÒ +xÉÖ´ÉÉnù).

MAHARASHTRA LEGISLATURE SECRETARIAT The following Bill was introduced in the Maharashtra Legislative Assembly on the 17th December 2024, is published under Rule 117 of the Maharashtra Legislative Assembly Rules.

L. A. BILL No. XXXI OF 2024.

A BILL further to amend the Maharashtra Stamp Act.

WHEREAS, both Houses of the State Legislature were not in session;

AND, WHEREAS, the Governor of Maharashtra was satisfied that circumstances existed which rendered it necessary for him to take LX of immediate action further to amend the Maharashtra Stamp Act, for the

1958. purposes hereinafter appearing ; and, therefore, promulgated the Mah.

Maharashtra Stamp (Amendment) Ordinance, 2024 on the 14th October Ord.

2024 ;

XII of

2024. ¦ÉÉMÉ {ÉÉSÉ +-38--1.

(1) BSɤÉÒ--2153-1.2 ¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 26, ¶ÉEäò 1946

AND WHEREAS it is expedient to replace the said Ordinance, by an Act of the State Legislature ; it is hereby enacted in the Seventy-fifth Year

of the Republic of India as follows :—

1. (1) This Act may be called the Maharashtra Stamp (Amendment) Short title and Act, 2024. commencement.

(2) It shall be deemed to have come into force on the 14th October 2024.

Amendment of 2. In SCHEDULE I appended to the Maharashtra Stamp Act LX of SCHEDULE I (hereinafter referred to as “the principal Act”),— 1958. of LX of 1958.

(1) in article 4, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(2) in article 5, in clause (h), in sub-clause (B), in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(3) in article 8, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(4) in article 9, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(5) in article 10, in column (2), for the figures, words and letters “0.2 per cent. on share capital or increased share capital, as the case may be, subject to a maximum of Rs. 50,00,000”, the figures and words “0.3 per cent. on share capital or increased share capital, as the case may be, subject to a maximum of rupees One Crore” shall be substituted;

(6) for article 12, the following article shall be substituted,

namely :— “12. AWARD, that is to say, any decision in writing by an arbitrator or umpire, on a reference made otherwise than by an order of the Court in the course of a suit, being an award made as a result of a written agreement to submit present or future differences to Arbitration but not being an award directing partition,—

(a) relating to immovable The same duty as is leviable property; on a conveyance under clause (b) of article 25.¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 26, ¶ÉEäò 1946 3

(b) relating to movable property,—

(i) where the amount 0.75 per cent. of the amount granted in the award, granted in the award. does not exceed rupees fifty lakhs ;

(ii) where the amount Rupees thirty seven granted in the award, thousand five hundred plus exceeds rupees 0.5 per cent. of the amount fifty lakhs but does granted in the award. not exceed rupees five crores;

(iii) where the amount Two lakhs sixty two granted in the award, thousand five hundred exceeds rupees rupees plus 0.25 per cent. five crores; of the amount granted in the award. ”;

(7) in article 27, in column (2), for the words “rupees one hundred” the words “rupees five hundred” shall be substituted;

(8) in article 30, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(9) in article 38, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(10) in article 44, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(11) in article 47, in clause (1), in sub-clause (b), in column (2), for the words “fifteen thousand” the words “fifty thousand” shall be substituted;

(12) in article 49, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(13) in article 50, in column (2), for the words “One hundred rupees” the words “Five hundred rupees” shall be substituted;

(14) in article 52, in clause (a), in column (2), for the words “Two hundred rupees” the words “Five hundred rupees” shall be substituted;

(15) in article 58, in clause (a), in column (2), for the words “Two hundred rupees” the words “Five hundred rupees” shall be substituted;

(16) in article 63,—

(i) in clause (a), in column (1), for the words “ten lakh” the words “five lakh” shall be substituted;

(ii) in clause (b),—

(A) in column (1), for the words “ten lakh” the words “five lakh” shall be substituted;

(B) in column (2), for the figures and words “0.1 per cent. of the amount above rupees ten lakh” the figures and words “0.3 per cent. of the amount above rupees five lakh” shall be substituted.4 ¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 26, ¶ÉEäò 1946 Repeal of 3. (1) The Maharashtra Stamp (Amendment) Ordinance, 2024, is Mah.

Mah. Ord. hereby repealed. Ord. XII XII of 2024 of 2024. and saving.

(2) Notwithstanding such repeal, anything done or any action taken (including any notification or order issued) under the corresponding provisions of the principal Act, as amended by the said Ordinance, shall be deemed to have been done, taken or issued, as the case may be, under the corresponding provisions of the principal Act, as amended by this Act.¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 26, ¶ÉEäò 1946 5 STATEMENT OF OBJECTS AND REASONS With a view to bring simplicity and uniformity in levy of stamp duty and to increase the Government revenue, it was proposed to amend certain articles of Schedule I appended to the Maharashtra Stamp Act (LX of 1958).

2. The salient features of the amendments to the said Act are as

under :—

(i) to increase rate of stamp duty fixed long ago at the nominal amount of rupees hundred or rupees two hundred on certain instruments specified in articles 4, 5, 8, 9, 27, 30, 38, 44, 49, 50, 52 and 58 to rupees five hundred;

(ii) to increase rate of stamp duty and maximum limit of rate of stamp duty on the instrument of articles of association of a company specified in article 10;

(iii) to increase rate of stamp duty on the instrument of award by arbitrator specified in article 12;

(iv) to increase the maximum limit of rate of stamp duty on the instrument of partnership, where share contribution brought in by way of cash is in excess of rupees 50,000, specified in article 47;

(v) to increase the rate of stamp duty and maximum limit of rate of stamp duty on the instrument of works contract specified in article 63.

3. As both Houses of the State Legislature were not in session and the Governor of Maharashtra was satisfied that circumstances existed which rendered it necessary for him to take immediate action further to amend the Maharashtra Stamp Act, for the purposes aforesaid, the Maharashtra Stamp (Amendment) Ordinance, 2024 (Mah. Ord. XII of 2024), was promulgated by the Governor of Maharashtra on the 14th October 2024.

4. The Bill is intended to replace the said Ordinance by an Act of the State Legislature.

Nagpur, DEVENDRA FADNAVIS, Dated the 15th December 2024. Chief Minister. ¦ÉÉMÉ {ÉÉSÉ +-38--2.

BSɤÉÒ--2153-2.6 ¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 26, ¶ÉEäò 1946 FINANCIAL MEMORANDUM With a view to bring simplicity and uniformity in levy of stamp duty and to increase the Government revenue, certain amendments are made in articles of Schedule I appended to the Maharashtra Stamp Act (LX of 1958).

There is no provision in the Bill which would involve the recurring expenditure or non-recurring expenditure from the Consolidated Fund of the State on its enactment as an Act of the State Legislature.¨É½þÉ®úɹ]Åõ ¶ÉɺÉxÉ ®úÉVÉ{ÉjÉ +ºÉÉvÉÉ®úhÉ ¦ÉÉMÉ {ÉÉSÉ-+ö, Êb÷ºÉå¤É®ú 17, 2024/+OɽþɪÉhÉ 26, ¶ÉEäò 1946 7 GOVERNOR’S RECOMMENDATION UNDER ARTICLE 207 OF THE CONSTITUTION OF INDIA (Copy of Government of Maharashtra Order, Law and Judiciary Department) In exercise of the power conferred upon him by clause (1) of Article 207 of the Constitution of India, the Governor of Maharashtra is pleased to recommend to the Maharashtra Legislative Assembly, the Introduction of the Maharashtra Stamp (Amendment) Bill, 2024.

Vidhan Bhavan : JITENDRA BHOLE, Nagpur, Secretary (1) (I/C), Dated the 17th December, 2024. Maharashtra Legislative Assembly.

ON BEHALF OF GOVERNMENT PRINTING, STATIONERY AND PUBLICATION, PRINTED AND PUBLISHED BY DIRECTOR, RUPENDRA DINESH MORE, PRINTED AT GOVERNMENT PRESS AND BOOK DEPOT, CIVIL LINES, NAGPUR-440 001 AND PUBLISHED AT DIRECTORATE OF GOVERNMENT PRINTING, STATIONERY AND PUBLICATION, 21-A, NETAJI SUBHASH ROAD, CHARNI ROAD, MUMBAI-400 004. EDITOR : DIRECTOR, RUPENDRA DINESH MORE.