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ARTICLE · 07 FEBRUARY 2022

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Amendments To Maharashtra Stamp Act: Increase In The Ceiling On Stamp Duty For Security

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The Government of Maharashtra has by the Maharashtra Stamp (Amendment) Act, 2021 amended Article 6 (Agreement Relating to Deposit of Title Deeds, Pawn, Pledge or Hypothecation), Article 33 (Further Charge), Article 40 (Mortgage Deed), ...

IndiaFinance and Banking
Rolwine Alva
Rolwine Alva
Riya Agicha
Riya Agicha
Prahalad Naganath
Prahalad Naganath
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The Government of Maharashtra (GoM) has by the Maharashtra Stamp (Amendment) Act, 2021 (2021 Amendment Act) amended Article 6 (Agreement Relating to Deposit of Title Deeds, Pawn, Pledge or Hypothecation), Article 33 (Further Charge), Article 40 (Mortgage Deed), Article 41 (Mortgage of Crop) and Article 54 (Security Bond or Mortgage Deed) of Schedule I of the Maharashtra Stamp Act, 1958 (Maharashtra Stamp Act). The 2021 Amendment Act has been passed to (i) accommodate the revenue deficit pursuant to the rationalisation of stamp duty costs under the Maharashtra Stamp (Amendment and Validation) Act, 2021 and (ii) put a maximum ceiling on the stamp duty paid on instruments related to mortgage, hypothecation and pledge.

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