Maharashtra Stamp Act, 1958

Introductory note for the Maharashtra Stamp Act, 1958 Bare Act page, explaining the purpose, scope and practical use of the statute as a Maharashtra State law governing stamp duty on instruments.

Overview #

The Maharashtra Stamp Act, 1958 is the principal State legislation governing the levy, payment, adjudication, recovery and refund of stamp duty on instruments executed in, or connected with, the State of Maharashtra. The Act is practically important for property transactions, business documentation, finance and security documents, leases, development agreements, conveyances, settlements, powers of attorney and other instruments listed in Schedule I.

This Bare Act page provides the text of the Maharashtra Stamp Act, 1958 as available in the uploaded compilation stated to be updated up to 8 April 2025. It is intended for use by lawyers, law students, conveyancers, company and finance professionals, real estate practitioners, healthcare establishments entering into leases or property documents, and legal researchers dealing with Maharashtra-based documentation.

Object of the legislation #

The object of the Maharashtra Stamp Act, 1958 is to create a statutory framework for charging stamp duty on specified instruments and to ensure that instruments are properly stamped before they are used for legal, evidentiary, registration or transactional purposes. The Act is also a revenue statute: it enables the State to collect stamp duty, prevent evasion through undervaluation or improper stamping, and prescribe consequences for default.

The legislation does not primarily regulate the substantive rights created by a conveyance, lease, mortgage or other document. Instead, it regulates the fiscal requirement attached to the instrument: whether duty is payable, how much duty is payable, when it must be paid, who must pay it, and what follows if the instrument is not duly stamped.

Scope and relevance #

The Act applies across Maharashtra and covers a wide range of instruments through its charging provisions and Schedule I. Its relevance is especially high in transactions involving immovable property, development arrangements, sale and lease documents, mortgages, settlements, securities, powers of attorney, agreements and documents used in commercial or financial dealings.

For practical legal work, the Act is important because an insufficiently stamped instrument may face serious consequences, including impounding, payment of deficit duty and penalty, and restrictions on admissibility in evidence. The Act also provides mechanisms for adjudication by the Collector, treatment of undervalued conveyances, refund or allowance in specific cases, and recovery of duties and penalties.

In Maharashtra, stamp duty compliance is often linked with registration, property due diligence, loan documentation and dispute proceedings. Professionals should therefore read the instrument description in Schedule I together with the operative provisions on chargeability, valuation, mode and time of stamping, adjudication and impounding.

Selected important provisions and themes #

• Section 3 is the core charging provision identifying instruments chargeable with duty under the Act.
• Sections 4, 5 and 6 address situations where multiple instruments or instruments covering several matters or descriptions are involved, including development agreement, sale, lease, mortgage or settlement transactions.
• Sections 10 to 16 deal with the manner of payment and use of stamps, including adhesive stamps, cancellation, writing on impressed stamps, use of one instrument on one stamp, alterations and denoting duty.
• Sections 17 to 19 deal with the time of stamping for instruments executed within the State, instruments executed outside the State, and certain instruments or copies liable to increased duty in Maharashtra.
• Sections 20 to 29 contain valuation-related rules, including foreign currency conversion, valuation of stock and marketable securities, instruments reserving interest, indeterminate value and disclosure of facts affecting duty.
• Sections 31, 32, 32A, 32B and 32C provide for adjudication as to proper stamps, Collector’s certificate, treatment of undervalued conveyances and appellate or revisional remedies.
• Sections 33 to 46 cover examination, impounding, admissibility of instruments not duly stamped, Collector’s powers, recovery of duties and penalties, and related consequences.
• Sections 47 to 52B and Sections 59 to 68 deal respectively with allowances or relief for spoiled, misused or unused stamps, and offences, penalties, inspection and information-related powers.

How to use this Bare Act #

• Start with the relevant instrument category in Schedule I, because the applicable duty normally depends on the legal character of the document.
• Read Section 3 and related provisions on chargeability with Sections 4 to 6 where a transaction uses more than one document or the same document covers multiple matters.
• For Maharashtra property or development transactions, check valuation provisions and the procedure for undervaluation under Section 32A before relying on the instrument.
• If there is doubt about correct duty, consider the adjudication mechanism under Sections 31 and 32 rather than waiting for an objection during registration or litigation.
• When using a document in court, arbitration or official proceedings, verify stamping in advance because deficient stamping may lead to impounding and payment of duty and penalty.
• Always compare the downloaded Bare Act with the latest Maharashtra amendments, notifications and applicable stamp duty tables before finalising a transaction.

Related Bare Acts and statutes #

• Maharashtra Land Revenue Code, 1966
• Maharashtra Regional and Town Planning Act, 1966
• Maharashtra Co-operative Societies Act, 1960
• Maharashtra Rent Control Act, 1999
• Maharashtra Municipal Corporations Act, 1949
• Indian Contract Act, 1872

This page is for statutory reference and educational use. The uploaded compilation states the text as on 8 April 2025, but stamp duty law is frequently amended through State legislation and notifications. Verify the latest applicable Maharashtra stamp duty rates, exemptions, remissions and circulars before advising on or executing any instrument.