Kamal Jaykumar Parekh 09 January 2021

lease agreement

Query regarding Lease Agreement

1. What is consequences if Lease Agreement made for past period (say P & M rented from Apr 20 but lease agreement made as on today for the period from Apr 20) in the State of Gujarat?

2. What if Lease agreement for P & M made for the period more than 11 months (say 3 years) in the State of Gujarat?

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Quick Summary

This discussion addresses queries about lease agreements in Gujarat, specifically concerning leases made for past periods and those exceeding 11 months. It clarifies that pre-dating a lease agreement can lead to prosecutable offences related to registration fees and stamp duty evasion, though it can be regularised by paying penalties. Importantly, lease agreements can legally be executed for any duration without exceptions.

3 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 09 January 2021

WHAT is "P & M" ?

Keep Smiling .... Hemant Agarwal
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Kamal Jaykumar Parekh 09 January 2021

Plant and Machinery

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 11 January 2021

1. Registration of a Pre-Dated (Past Period) L&L Agreement, would be a prosecutable offence under the Registration Act, evasion of Registration Fees & Stamp Duty.

2. However the L&L Agreement can be regularized by sending it for Adjudication and paying the relevant Stamp Duty, Registration Fees and Penalty thereon, as per the order of local office of the Registration of Sub-Assurances.

3. L&L Agreement can be legally executed for ANY duration /period, without any legal exceptions.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com