Publicise stamp duty relief on lease deeds, says Minister
PRAYAGRAJ, Nov. 5 -- Minister of state (independent charge) for Stamp, Court Fees and Registration, Ravindra Jaiswal, on Wednesday, reviewed departmental functioning in Prayagraj and directed officials to extensively publicise the recently announced exemptions in stamp duty and registration fees so that the public and stakeholders can fully benefit from the new provisions. Earlier in the day, Jaiswal, along with deputy chief minister Keshav Prasad Maurya, participated in the 'Loktantra Bachao, Arajakta Hatao' programme at the protest site in Civil Lines and later joined a padyatra.
During the review meeting, the minister briefed officials about notifications issued on October 12, under which relief has been provided on stamp duty and registration charges for lease deeds. He said the revised system calculates fees on the basis of average annual rent, offering significant relief to the public. Under the new provisions, lease agreements with a tenure of up to 10 years and an average annual rent of up to Rs 10 lakh will be exempt from stamp duty and registration fees.
Jaiswal also highlighted the Cabinet's decision to amend the Indian Stamp Act, stating that the changes would bring clarity regarding stamp duty liability on documents related to the merger, amalgamation, demerger and restructuring of companies....
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