WebIf stamp tax isn't paid on time, it attracts penalty at the rate of four percent (4%) per month on the deficit quantity of the stamp tax, but most penalty is solely 400 percent (400%) … WebJun 15, 2024 · Maharashtra State Government vide its notification on Stamp Duty Deficit Penalty Reduction Amnesty Scheme, which has been notified on 2nd March 2024, has introduced the amnesty scheme. This scheme is mainly for property holders / buyers in the State who have not paid appropriate Stamp Duty at the time of executing and registering …
FREQUENTLY ASKED QUE STIONS STAMP DUTY - Karnataka
WebMay 22, 2024 · For such impounding and assessment of deficit duty and penalty, no time limitation (similar to S. 23 and 25 of the Registration Act), is prescribed. Pertinently, the Stamp Act is a fiscal legislation with an object to collect revenue in the form of stamp duty on specified transactions. WebJun 28, 2024 · Prior to the launch of this amnesty scheme, unpaid stamp duty or deficit stamp duty on conveyance / transfer attracted penalty at the rate of 4% per month to a maximum of 400% on the deficit amount. Under this amnesty scheme, the total penalty will only be 10% of the deficit amount. VALIDITY & APPLICABILITY: huffman tx auto repair
SC: ‘Ten Times Penalty’ Prescribed For Deficit Stamp Duty Cannot …
WebNov 18, 2015 · enclosing two demand drafts of Rs.25,000/- and Rs.49,000/- in all for a sum of Rs.74,000/- towards deficit Stamp duty and penalty. ...only option left open to the judicial authority or the Court is to impose ten times penalty and collect the deficit Stamp duty by resorting to Section34-A of the Stamp Act and non consideration ... WebApr 25, 2024 · Pune Apr 25 PTI In a first the Maharashtra government has introduced an amnesty scheme to waive the penalty to a significant extent imposed for the deficit … WebJun 29, 2024 · The court can only recognize the contract as validly stamped if the deficit stamp duty and penalty are paid, either before the court or before the Collector, according to the method given down... huffman tx cad