Notification ending stamp duty on registration deeds yet to be implemented

Neeraj Bagga

Tribune News Service

Amritsar, July 11

Even as it has been over one and a half months since the state government came out with the notification ending stamp duty on registration deeds in the case of transfer of immoveable property to blood relations, the notification has remained unimplemented. Surprisingly, the order to increase registry rates was implemented within a few days.

Punjab Sudhar Sabha (PSS) general secretary Pawandeep Sharma, in a communication to Revenue Minister Bikram Singh Majitha, stated that the state Cabinet had announced this relief to the residents of the state on May 20 but it has not been implemented so far.

Appreciating the announcement, he said, once implemented, the relief would spell an end to internecine family feuds because the transfer of properties would be convenient within the families.

He hoped that it would also bring down the number of cases concerning property disputes within the families in the courts in the state.

Financial Commissioner (Revenue) NS Kang had issued an order with regard to ending the stamp duty on registration deeds in the case of transfer of immoveable property to blood relations. The order reads: “The state government is pleased to remit stamp duty in whole chargeable on the instruments pertaining to transfer of immoveable property by an owner during his life time to any of his blood relations (i.e. children, grandchildren, brothers and sisters).”

Earlier, if a man wanted to transfer his property directly to his grandsons, he had to pay 5 per cent stamp duty. In the case of females, the rate was 3 per cent. But now, he would not have to pay any stamp duty at the time of getting any such transaction registered.

Earlier, the brother-sister relation was not included in the category of people eligible for remission of stamp duty. They had to pay full stamp duty on such transactions.

As per the new order, Sharma said, if a sister transfers any immoveable property in the name of her brother (or vice-versa), she/he will not have to pay any stamp duty.

With the coming into force of the new provision, the specified beneficiaries will be able to save Rs 1 lakh as stamp duty on the transfer of any immoveable property worth Rs 20 lakh.

Sanjeev Rampal, a property dealer, said the order to increase registry rates was implemented within a few days and the benefit extended to people was not implemented in a similar hurry. He said a high number of people were undergoing hassles on this account and officials posted in the Revenue Department did not have any plausible word on the matter.

He said only stamp duty was scrapped under this scheme while other charges, including registration fee, infrastructure cess, etc, will continue to be levied.