Mumbai, March 16 (IANS) The Maharashtra government has issued a notification extending the Stamp Duty Amnesty Scheme 2023 till June 30 this year.
It was necessitated as the term of the scheme was expiring on March 31.
“And whereas, the government of Maharashtra considers it expedient to amend the said order so as to extend the period of the second phase from March 1 till June 30, 2024, for the said Amnesty Scheme-2023,” the notification said.
According to the Stamp Duty Amnesty Scheme, the insufficiently paid documents will be certified by the department as properly paid under the scheme.
The beneficiaries are required to apply under the scheme on an online and offline basis.
The department will collect the stamp duty as applicable on the date of execution of the documents by offering relief in the stamp duty amount as well as penalty depending on the period at which such documents were executed and the date on which the application has been filed by the beneficiary to avail the benefit of the scheme.
Penalty of two per cent per month or part upto 400 per cent penalties are levied on stamp duty due.
The waiver is granted based on the date of application and the date of the agreement and stamp duty due.
All instruments related to transfer of immovable property under Maharashtra Stamp Act, 1958, whether registered or not, whether residential, non-residential, industrial, agricultural and non-agriculture are covered in the Amnesty Scheme. The Schedule I comprises instruments executed between January 1, 1980 to December 31, 2000, and Schedule II executed between January 1, 2001 to December 31, 2020.
Earlier, the state government on January 31 this year had extended the term of the Stamp Duty Amnesty Scheme up to March 31 this year in the wake of low mobilisation of revenue.
–IANS
sj/khz
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
