Partial waiver of penalties in certain cases of overpayment of stamp duty to Maha

As a first step, the government of Maharashtra introduced an amnesty program to largely waive the penalty imposed for the payment of stamp duty deficiency in certain cases. The waiver applies only to matters pending on March 31, 2022 and for which at least one notice has been served. This regime will not apply to new cases filed after that date, an official said Monday. Ownership documents are registered at the offices of the Deputy Registrar under the Department of Registration and Stamps. During the review of these documents during the internal audit, some cases of overdue stamp duty came to light, the official said. “These instances of overdue stamp duty arise due to various reasons such as partial evasion of stamp duty, failure to pay proper stamp duty at the time of signature and registration of ownership document by buyers. of property or the application of inappropriate directives by the officials concerned, ” said the official of the office of the inspector general of registration and the comptroller of stamps.

He added that when such cases of stamp duty deficiency are flagged during the audit, the penalty is levied. In accordance with the new amnesty program, the state government has decided to waive the penalty at 10% from April 1 to July 2022 and 50% from August 1 to November 30.

“In a nutshell, a 90% waiver of the penalty amount has been granted for the period from April to July and later, a 50% waiver of the penalty amount on the deficient stamp duty will be enforced between August and November,” the official said.

He added that this is the first time such a system has been introduced to settle cases.

PTI SPKNSK NSK

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)


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Elaine R. Knight