It is the owner`s responsibility to ensure the registration of the rental agreement, failing which the landlord may have to pay a penalty of Rs 5,000 and punish himself with a prison sentence of up to three months. In the event that the leave and license contract is not registered and disputes arise between the lessor and the tenant, the contractual conditions invoked by the tenant are considered to be the real and correct conditions in which the property was given for rent, unless proven otherwise. The stamp duty rate for holiday and licence contracts is the same for residential premises and for commercial premises. The leave and licence contract may be concluded for a maximum period of 60 months. Housing.com has implemented a fully digital and contactless service to create rental contracts. If you want to complete the formalities quickly and without problems, you just need to fill in the details, create the rental agreement online, sign the contract digitally and mark it in seconds by e-stamp. The applicant can pay taxes and stamp duties online by generating a challan receipt online. The calculation of stamp duty is usually based on certain information to be mentioned when registering real estate: according to Section 17 of the Indian Registration Act, which applies to the whole of India, any real estate lease agreement must be registered from year to year or for a period of more than one year. Therefore, unless otherwise provided by state law, each leave and license agreement must be registered for a period of 12 months or more. Vacation and license agreement, whether for one (1) month or eleven (11) months, whether it is 50 square feet or more, whether residential/commercial or industrial businesses, it is the same calculation for stamp duty and for registration fees, it is different (for cities or countryside). The formula for calculating the stamp duty on the rental contract is 0.25% x D, the D (monthly rent x number of months) + (pre-rental for the period / non-refundable deposit) + (10% x refund x number of years of contract). In Article 36(A)(a)(a)(i) in column 1, for the words `thirty-three months`, the words `sixty months` shall be replaced by the words `sixty months`.
(ii) in columns 1 and 2, the words `eleven months` shall be replaced by the words `twelve months`. From 1 May 2013, the new stamp duty rates will apply to leave and licence agreements. . . .