Stamp duty News

Previously limited to properties worth Rs 10 lakh, this exemption has now been extended to properties valued up to Rs 1 crore, offering a 1 per cent reduction in stamp duty. This can translate into savings of up to Rs 1 lakh per property registration in the name of women.

One of the most significant decisions made was the expansion of the stamp duty exemption for women property buyers. Previously limited to properties worth Rs 10 lakh, this exemption has now been extended to properties valued up to Rs 1 crore, offering a 1 per cent reduction in stamp duty. 

According to the revenue department, stamp duty and registration is one of the major sources of revenue mobilisation after the state GST. In 2023-24, the state had mopped up Rs 40,000 crore through stamp duty and registration.

As per the order, the exemption in the stamp duty would be 100 per cent in eastern UP and Bundelkhand region, 75 per cent in central and east UP, 50 per cent in Gautam Buddha Nagar and 100 per cent for women entrepreneurs.

Arvind Kejriwal has faced another serious charge amid allegations of scam in Delhi's liquor policy. Kejriwal is accused of evading stamp duty.

As the Yogi Adityanath government has cleared the proposal, now no money will be charged on stamp registration duty in cases where a particular property is to be transferred within the members of the family in Uttar Pradesh. 

Mumbai has witnessed a cumulative residential sale of 22,827 units after the stamp duty cut during September-November 2020 The monthly run rate in this period after the stamp duty cut is approximately 135% or 1.35 times the monthly average of 2019 Despite the stamp duty cut in Sept 2020, the state government’s revenue collections from stamp duty have increased

Announcement on circle rate would reduce hardship to sellers as they would not be compelled to pay higher capital gains tax if the difference is within 5 percent of circle rates.

The Apparel Export Promotion Council (AEPC) made a presentation to the Parliamentary Standing Committee (Rajya Sabha) on Commerce chaired by Naresh Gujral earlier this week.

Tightening the noose further around black economy, the government may abolish discretionary powers of tax officers in deciding liabilities for evasion, said NITI Aayog Vice-Chairman Arvind Panagariya.

 Uttar Pradesh is all set to allow the use of net banking and debit cards to pay registration and stamp fees on property transactions.

Union Government has written to the states asking them to reduce stamp duty on registration of houses for poor as it aims to push affordable housing projects across the country.

The Finance Ministry is coming with a discussion paper on this in two months.