Tenancy Agreement Stamping in Puchong: What You Need to Know

If you`re renting a property in Puchong, Malaysia, it`s important to know the legal requirements for tenancy agreement stamping. Failure to comply with these rules could result in fines or even legal action.

Here are the key things you need to know about tenancy agreement stamping in Puchong:

1. What is a tenancy agreement stamp?

A tenancy agreement stamp is a stamp duty that must be paid on any tenancy agreement signed in Malaysia. It`s a legal requirement under the Stamp Act 1949.

2. Who pays for the stamp duty?

The stamp duty is typically paid by the tenant, although it can be negotiated between the tenant and landlord.

3. How much is the stamp duty?

The stamp duty for tenancy agreements in Puchong is calculated based on the yearly rental amount. For agreements with a rental amount of up to RM2,400 per year, the stamp duty is RM1. For agreements with a rental amount of more than RM2,400 per year, the stamp duty is 0.5% of the yearly rental amount.

4. When should the stamp duty be paid?

The stamp duty must be paid within 30 days of signing the tenancy agreement.

5. Where can the stamp duty be paid?

The stamp duty can be paid at any Lembaga Hasil Dalam Negeri (LHDN) office or through an online payment system.

6. What documents are required for stamping?

You`ll need to bring the original tenancy agreement, a photocopy of the agreement, and your identification document (IC or passport) to the LHDN office.

7. What happens after the stamp duty is paid?

Once the stamp duty is paid, the tenancy agreement will be stamped with an official stamp. This stamp proves that the stamp duty has been paid and the agreement is legal.

8. What are the consequences of not stamping the tenancy agreement?

If the tenancy agreement is not stamped within 30 days of signing, a penalty fee of RM250 or 10% of the stamp duty (whichever is higher) will be imposed. In addition, the agreement will not be admissible in court as evidence.

9. Can the stamp duty be refunded?

In certain cases, such as if the tenancy agreement is cancelled, the stamp duty can be refunded. However, a refund fee of RM10 will be charged.

10. What should you do if you have questions or need assistance?

If you have any questions or need assistance with tenancy agreement stamping in Puchong, you can contact the LHDN office or seek the help of a professional, such as a lawyer or real estate agent.

In conclusion, tenancy agreement stamping is a legal requirement in Puchong that should not be overlooked. By following the guidelines outlined above, you can ensure that your agreement is legally valid and avoid any potential penalties or legal disputes.