However, for Maharashtra, the law has been strengthened and, in accordance with section 55 of the Maharashtra Rent Control Act 1999, any lease or leave and licence agreement must be written and the same must be registered in a mandatory manner, regardless of the length of the lease. Normally, there are two copies of the lease, one copy for the owners and one for the tenants. Both copies must be stamped by LHDN before moving to a new property. The Malaysia Inland Revenue Authority, also known as the « Lembaga Hasil Dalam Negeri Malaysia », LHDN Malaysia is where you can pay your stamp duty and perhaps get stamps on your leases. Others you like:- Rent Affordability Calculator – how much rent You should afford?- Earning RM300 via the SPEEDHOME Recommendation Program This is very important for landlords and tenants to protect. For example, if the tenant clearly states that he or she is responsible for all costs, such as taxes on water, electricity and wastewater, the landlord is paid legal responsibility for the fees payable. To legitimize a tenancy agreement, it is important to note that landlords and tenants must sign it. Then, the lease must be stamped by LHDN to be legal in court. Stamp duty, a form of tax placed by the government on legal documents, must be paid to enter into a lease before rent can be made. speedhome.com/blog/tenancy-agreement-charges-in-malaysia/ licence period: Means month/years (no more than 60 months / 5 years) for the rental of a property such as housing, office, shop and industry on holidays and license bases e/a 36A of Maharashtra Stamp Act. Refundable caution: Average amount that the licensee (tenant) gave to the licensee (owner) as collateral (guarantee of good performance and compliance) Non-refundable down payment (NRD) means the amount the licensee (tenant) gives to the licensor (owner) in advance, which must be adjusted according to the final monthly rent. Note: Tax Source (TDS): Applicable u/s 194 (i) of the Income Tax Act, 10% in 1961 for the total rent that was received in a fiscal year greater than $180,000/- or more. The registration fee for a rental contract in Maharashtra, depends on the location of the rental.
The registration fee is Rs 1,000 if the property is below an urban corporate area and it is 500 aff. if this is the case in a rural area.