Relief for Stamp Duty Evaders: Amnesty Scheme Extended, ₹400 Cr Revenue Collected

Scheme extension will now also benefit residents of buildings developed on lands owned by MHADA, CIDCO, MIDC, municipal corporations and councils.
Relief for Stamp Duty Evaders: Amnesty Scheme Extended, ₹400 Cr Revenue Collected

Pune: The government of Maharashtra has decided to extend the deadline for the amnesty scheme aimed at stamp duty evaders until August 31.

This extension will now also benefit residents of buildings developed on lands owned by Maharashtra Housing and Area Development Authority (MHADA), City and Industrial Development Corporation (CIDCO), Maharashtra Industrial Development Corporation (MIDC), as well as municipal corporations and municipal councils. This decision is expected to provide significant relief to these residents.

The state government initially launched the amnesty scheme for those who had underpaid stamp duty between 1980 and 2000. The scheme was implemented in two phases: from December 1 to January 31, 2024, and from February 1 to March 31.

After March 31, the scheme was further extended until June 30, resulting in the collection of approximately ₹400 crores in revenue for the state. The latest deadline extension expired on June 30.

The fresh extension aims to ensure broader compliance and provide an opportunity for more residents to regularize their stamp duty payments, contributing further to the state's revenue.

Following demands for further extension, the state government has not only extended the deadline but also included additional categories of residents who had underpaid stamp duty.

The scheme targets those who purchased flats between 1980 and 2020 but paid lower stamp duty or failed to register the sale agreement on a proper stamp paper. It covers documents registered with insufficient stamp duty based on the market value shown in the documents, ignoring the actual market rates.

Previously, societies on government land had to submit apartment selection lists on plain paper to benefit from the scheme. Now, residents of buildings on MHADA, CIDCO, and MIDC land can also avail themselves of the scheme.

The government will accept apartment selection letters on plain paper from these societies instead of requiring official letterhead documentation.

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