An IT company provide software service to banks and bank pays to the company against the services rendered. IT comapny is located in Mumbai and the bank where the sevices are being provided is located in Kerala. Comapany prepared an Service Level Agreement on 100 Rs. stamp paper and the execution place is Mumbai since the stamp paper is belong to Mumbai (Maharashtra State). Kindly guide for below query.
Does the agreement need to be registered
What is the stamp duty or fees payable for an Service level agreement
Ours is a IT Company in Mumbai and We have entered into a Advisory Service Level Agreement with NRI. Could you please tell what will be the stamp duty on the Agreement? Whether Bombay Stamp Act is applicable in this case?