Amnesty scheme on penalty against deficient portions of stamp duty introduced

For the first three months, ninety per cent waiver in penalty would be extended and for the next four months, the fifty per cent concession will be granted to the amnesty seekers

The Inspector General of Registration and Controller of Stamp, Maharashtra State (IGR) office has introduced an amnesty scheme on the penalty against deficient portions of stamp duty. For the first three months, ninety per cent waiver in penalty would be extended and for the next four months, the fifty per cent concession will be granted to the amnesty seekers.

The scheme is operational from April 1 to November 30 this year. (HT PHOTO)

The scheme is operational from April 1 to November 30 this year.

As per the order, an amount of stamp duty and penalty determined by authority in demand notice in the said proceeding or any order passed under the said act will be final. To avail of the benefit, no new or fresh determination of market value will be allowed and an amount of deficit stamp duty will be fully paid to the government.

No new procedure for fixing stamp duty will be followed in these cases. The applicant will have to accept the decision taken earlier. The said reduction will be given only after the amount of original stamp duty is fully paid to the government. There will be no discount, remission, or reduction exemption in the original stamp duty. The applicant has to submit full details of his or her document, a certified copy of the decision as to deficit stamp duty and penalty as well as an affidavit stating that the case is not pending before any appellate authority or any tribunal or any other authority, the government resolution states.