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50,00,000. Declaration of -- of, or concerning, any property when made by any writing not being a Will,--, (a) where there is disposition of property, --. . Highlights of the Order: Government of Maharashtra has vide order1 dated 16 March 2020 increased the maximum stamp duty payable on scheme of arrangement of companies / banks in the state of Maharashtra from INR 250 million to INR 500 million. In case an instrument is so drafted that it is covered within the ambit of more than one Article under Schedule I, then it shall be taxed by that Article which levies the highest amount of stamp duty. Any instrument executed in the state of Maharashtra shall be liable for payment of Stamp duty according to Section 3 of the Act at the rates provided in Schedule I to The Maharashtra Stamp Act. Whilst the changes will reduce stamp duty for most debentures issuances, but for large issuances over Rs.5,000 crore the stamp duty will be in excess of Rs.25 lakh (which was the maximum amount prior to the Amendments to the Stamp Act). (a) if the amount agreed does not exceed Rs. // -->