Govt yet to act on plea to raise exemption limit on stamp duty

The Commissioner of Cottage and Rural Industries had informed the Revenue Department in February 2009 that the loan limit was increased from Rs 3 lakh to Rs 5 lakh under the Vajpayee Bankable Scheme.

The Revenue Department was also informed that the maximum loan limit was Rs 25 lakh under two more schemes — Jyoti Gramodhyog Vikas Yojana and Prime Minister’s Employment Generation Programme .

“It becomes essential to increase the stamp duty exemption limit as proposed by SLBC for proper implementation of these programmes. This matter is pending with the Revenue Department for the last two years,” said SLBC sources.

According to the SLBC Secretariat,a Revenue Department letter to SLBC in April 2009 said the Superintendent of Stamps had sought certain information in this mater in July 2008.

In reply,the SLBC provided the required details to the Superintendent of Stamps in November 2008,but this did not reach them,SLBC notes. So,the SLBC sent it again in May 2009. A reminder followed it in August for further action.

In the 123rd SLBC meeting,there was no representative present from the Revenue Department. P K Parmar,the then Commissioner and Secretary,Cottage and Rural Industries had promised to take up the matter with the Revenue Department. Accordingly,he took up the matter in September 2009 with the Principal Secretary of the Revenue Department with a request to look into the matter and resolve it at the earliest.

In the meanwhile,the SLBC once again referred the matter to the Additional Superintendent of Stamps in October and clarified the matter in detail but there has been no response from them yet.

When contacted,Joint Secretary (Stamps),Hemendra Shah,said that something positive would come out in a short time.

“We have to wait for the opinion of the Superintendent of Stamp on the proposal and his justification for the proposed concession. Based on his opinion,financial implications will be weighed,” he said.

When told that the issue was nearly two years old,Shah said he would look into the matter on a priority basis.