Stamp Duty On Leave And License Agreement In Kolkata

4. The language used in the agreement would determine whether it is leave, licence or lease. The leave and license agreement is different from the lease agreement. The vacation and license agreement can be interpreted as a lease, since it has the terms of the lease anyway. The licence is defined in Section 52 of the Indian Easement Act and this Act applies to the whole of India. Therefore, each license is subject to the provisions of the said law. If premises are given on license, is given popularly as leave and license. Such an agreement is called a leave and license agreement. The jurisdiction of the Court of Justice varies from one State to another.

But the vacation and license agreement is valid in any state. The licence does not allow the licensee to take an interest in the premises. It gives the licensee only the right to use and occupy the premises for a limited period of time. A deed of lease must be stamped and registered. The amount to be paid for the stamp duty of the rental deed is more than that to be paid for the Leave and License. For a period of more than three years, stamp duty is the same for both contracts. Stamp Duty Rate: The existing stamp duty rate for an important item on List 1A of the Indian Stamp Act is mentioned below: 1.C is just an argument that ownership of the rental property does not exist, which can be argued with the logic that if the property is not given, how will the tenant use the rented property? If the Leassor retains ownership of the leased property strip and is free to enter the property he/she has rented to the Leassee, how can the security and privacy of the leassee be maintained? Your contract in question is a lease and not a lease. In order to reduce the frequency of stamp duty, people used to pay a considerable amount as an interest-free deposit with the nominal rent.

This gap has been filled and now, in cases where a repayable bond is recovered by the lessor, a fictitious annual interest rate of 10 per cent is charged to that interest-free deposit and you have to pay stamp duty at the same rate, on that interest for each year of the term of the license agreement. . . .