Stamp duty evasion causes loss of Rs 40 lakh to state exchequer
The land revenue department of the district is mired in controversy over the registration of a 304-square-yard plot in Ghumar Mandi by quoting false collector rates which allegedly caused a stamp duty loss of Rs 40 lakh to the state exchequer.punjab Updated: Nov 09, 2014 11:03 IST
The land revenue department of the district is mired in controversy over the registration of a 304-square-yard plot in Ghumar Mandi by quoting false collector rates which allegedly caused a stamp duty loss of Rs 40 lakh to the state exchequer.
According to the rates given on the website of the district administration, the collector rate of the area is Rs 73,300 whereas the sub-registrar office has charged the stamp duty against Rs 9,500 only, thereby, causing huge loss to the government.
The property falls in Ghumar Mandi area whereas the documents pertaining to stamp duty have mentioned that the property is in Dyal Nagar so as to justify the rates quoted.
The details of the property are B-19-224, Ghumar Mandi, Ludhiana.
The stamp duty is 9% of the total worth of the property. The most interesting part of the case is that the property has been sold off twice by dividing it into two parts since 2012 and in both the deals false collector rate has been quoted in the documents.
The documents carry the vasika number i.e. 14034 dated 1/10/2012 duly signed by Gagandeep Singh, tehsildar, east, in 2012, while sub-registrars - Harinder Kumar and Parveen Kumar Singla - were the authorised signatories for the property with vasika numbers 15219 dated 28/1/2014 and 17542 dated 12/3/2014 respectively.
Even other details including area and map are incorrect in the sale deeds which points towards the role of the seller and purchaser in the case.
It is also learnt that there has been no TDS adjustment done in the sale-purchase which is mandatory as the first owner was NRI in this case. As per rule 20-30 percent TDS has to be deposited with the government.
According to the documents procured by Hindustan Times, the name of the buyer is incomplete and even the mobile number given by him in the stamp duty documents is incorrect as it belongs to an Amritsar resident.
Property agents, real estate dealers and brokers in connivance with the government employees in the land revenue department have cheated the government of stamp duty worth crores of rupees by conveniently changing the details of the properties to be registered.
Present collection by stamp duty on sale deeds by the state government is approximately Rs 3,000 crore per annum. But highly placed sources said evasion was nothing less than 30%.
First Published: Nov 09, 2014 11:00 IST