The primary purpose of stamp duty on lease agreements is to generate revenue for the government.

Stamp duty on a lease agreement is payable within 30 days of execution of the agreement.

In most cases, both the tenant and the landlord are jointly and severally liable for paying stamp duty on a lease agreement.

The rate of stamp duty on a lease agreement is typically 1% of the total rent payable over the term of the lease.

The minimum amount of stamp duty payable on a lease agreement is Rs. 100.

The maximum amount of stamp duty payable on a lease agreement is Rs. 30,000.

Not paying stamp duty on a lease agreement can result in the lease agreement being void, the tenant and landlord being liable to pay a penalty, and both the tenant and the landlord being liable to pay interest on the unpaid stamp duty.

Stamp duty on a lease agreement can be paid by affixing a stamp paper of the appropriate value to the lease agreement, paying the stamp duty online, or paying the stamp duty at a bank.

Leases for a period of less than one year are exempt from stamp duty.

Stamp duty is a tax, while registration fee is a charge. Stamp duty is payable on all lease agreements, while registration fee is payable only on certain lease agreements. Stamp duty is payable at the time of execution of the lease agreement, while registration fee is payable at the time of registration of the lease agreement.

Stamp duty on lease agreements generates revenue for the government, regulates the property market, and protects the rights of tenants and landlords.

Evasion of stamp duty, lack of awareness about stamp duty laws, and complex stamp duty laws are some of the challenges in the implementation of stamp duty on lease agreements.

Strict enforcement of stamp duty laws, public awareness campaigns about stamp duty laws, and simplification of stamp duty laws are some of the measures that can be taken to improve the implementation of stamp duty on lease agreements.

The future of stamp duty on lease agreements is likely to see a rationalization of the stamp duty rates and a simplification of the stamp duty laws.