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GOVT URGED TO EXTEND STAMP DUTY DEADLINE

stamp-2The flat owners may get some more time for payment of stamp duty under the Amnesty Scheme 2008. The Registration & Controller of Stamps, Maharashtra has sent a proposal to the government to extend the last date of payment beyond September 8. The scheme was launched on June 9 to ensure that property owners, especially the lower and middle income groups, legitimise ownership of their flats by paying stamp duty taking advantage of the liberal concessions offered. It is applicable only to residential properties. Those willing to benefit from the scheme will not have to pay the penalty which starts from two per cent per month. Instead, a penalty of Rs500 would be levied if the stamp duty paid is below Rs25,000 and Rs1,000 if the stamp duty paid is above Rs25,000.

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