A type of tax known as stamp duty applied to any document to make it legally binding. The Rajasthan Stamp Act governs the stamp duty on a rent agreement and varies based on the duration and the monthly rent of the property. Here, the stamp duty charge starts at Rs. 500. Read on to get a breakdown of 11 month rental agreement stamp paper value in Rajasthan.
What is Stamp Duty on Rent Agreement in Rajasthan?
As I mentioned the stamp duty is mandatory on rent agreement to make it legally bound and prevent disputes. For failure to pay the required stamp duty, authorities may impose a fine up to 10 times the actual charge.
- For rental agreements with a duration less than 11 months, the stamp duty is Rs 500.
- For agreements exceeding 11 months, the stamp duty is 5% of the annual rent.
- If the agreement duration exceeds 11 months, registration at the local Sub-Registrar Office is mandatory under the Registration Act, 1908. You must pay a registration fee 1% of the total rent plus deposit, subject to a minimum and maximum cap.
The agreement must be printed on non-judicial stamp paper of the requisite value. This value corresponds to the applicable stamp duty. Alternatively, e-stamping is also available in Rajasthan.
I hope you understand about the rent agreement stamp duty in Rajasthan.
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Wondering what is the value of rent agreement stamp duty in Rajasthan? In Rajasthan, the stamp duty for rent agreements depends on the duration of the lease:
For agreements lasting less than 11 months, the stamp duty is Rs. 500, and a registration fee of 1% of the rent is payable.
For agreements lasting more than 11 months, the stamp duty is 5% of the rent, plus a registration fee of 1% of the rent.
How to Calculate Stamp Duty on Rent Agreement in Rajasthan?
To calculate the exact stamp duty for your specific rental amount in Rajasthan, follow these steps:
Determine the Rental Amount: First, know the annual rent agreed upon in your rent agreement.
Choose the Duration and Calculate Stamp Duty:
If the agreement is for less than 11 months, the stamp duty is Rs. 500, and a registration fee of 1% of the rent is payable.
If the agreement is for more than 11 months, the stamp duty is 5% of the rent, plus a registration fee of 1% of the rent.
Remember to adhere to these guidelines for a legally valid rent agreement. I hope this answer helps you get an idea of the 11 month rental agreement stamp paper value in Rajasthan.
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What is Rent Agreement Stamp Duty in Rajasthan?
Adhiyansh
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2024-06-25T14:05:31+00:00 2024-06-25T14:05:32+00:00Comment
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