The Indian Registration Act provides for the registration of documents and thus records the contents of the document. Registration is necessary to preserve evidence and titles. There are certain agreements mentioned in Section 17 of the Indian Registration Act, which must be forcibly registered and therefore cannot be made without stamp paper. Some of them are, as indicated in a July 2020 report, that the Tamil Nadu government is likely to reduce stamp duty and registration fees for all leases over 12 months. This is one of the conditions set by the World Bank for the financing of the housing sector strengthening programme in Tamil Nadu. 58. SURRENDER OF LEASE, including an agreement to transfer the lease – (a) without consideration; Two hundred rupees (b) taking into account. The same right that can be collected in clauses (a), (c) or (d) of article 25 on the amount of consideration. Statement.- For the purposes of this article, the return of the money paid on bail to the lessor to the lessor is not considered a meal for the rebate. STAMPS TO BE USED – No – Judic ial Stamp Paper, Rule 6 or Impressed Label/Special Adhesive Stamp [see Rules 10 -11.] If no additional regular training or benefit has been granted by the employer/company to employees/advisers, this agreement/borrowing could be unacceptable/unacceptable/unenforceable/unenforceable/unenforceable/not applicable……. Clearly, these lawsuits are increasing and delaying in litigation and additional business costs, so it is always advisable to enter into agreements on stamp paper by paying the necessary obligation. Agreement between the independent contractor and the service provider The difference between a worker and a contractor is based on many factors, such as the extent of the control, whether the contractor can cooperate with other clients, whether he chooses his own equipment for the provision of services and whether the work can be under-delegated, and no factor is determinative.
The ease of use of this service contract is not enough to turn an employee into a contractor. Instead, the courts will review the entire agreement and determine whether the service provider is active in the business as part of the business (for example. B a very limited control worker) or if the contractor manages his own activities (for example. B a contractor). Individuals or companies that use this document may have to consider the difference between a contractor and an employee. This service contract allows you to hire a service provider as a contractor. This is different from an employment contract that would allow the applicant to hire as a worker and would require the provision of all kinds of benefits under labour law. DUTIES: the contractor [describes here the work or services to be provided]. [Name] will directly address [name] and any other party designated by [name] as part of the performance of the obligations under this agreement and will comply with all other obligations that have been reasonably requested by the company and agreed upon by the contractor. The service contract is legally binding if it is printed on non-judicial stamp paper or electronic paper, signed and dated by both the service provider and the client. The value of the buffer paper depends on the state in which it is executed.
Each state of India has provisions on the amount of stamp duty payable on these agreements.