Rs 32.13 crore collected in stamp duty, Abhay Yojana phase 1, 2 extended

As per the data available with the Department of Registration and Stamps, Government of Maharashtra, in 3,322 cases from a total 20,147 received till January 25, managed to collect stamp duty fees of Rs 24.48 crore, Rs 7.29 crore as penalty fees and Rs 35 lakh as registration fees.

On December 7, the state government issued a notification allowing stamp duty and penalty waiver under the Maharashtra Stamp Duty Abhay Yojana Scheme 2023. This scheme aims to prompt individuals to settle outstanding stamp duty dues, offering discounts on penalty fees related to delayed stamp duty payments.

According to the notification, instruments executed between January 1, 1980, and December 31, 2000, fall under Phase 1 of the scheme, running from December 1, 2023, to January 31, 2024. During this period, a full waiver (100%) on both stamp duty and penalties will be granted for amounts ranging from Rs 1 to Rs 1 lakh. For amounts exceeding Rs 1 lakh, a 50 per cent rebate on stamp duty fees and a complete waiver on penalties will be provided.

The second phase from February 1 to March 31, 2024, offers reduced benefits. For amount up to Rs 1 lakh, an 80 per cent reduction in stamp duty fees and penalties will be granted. Amounts surpassing Rs 1 lakh will receive a 40 per cent reduction in stamp duty fees and a 70 per cent reduction in penalties.

Deputy secretary (stamps and registration) SS Bajaj said that despite the amnesty scheme, if defaulters fail to clear the stamp duty dues, property attachment process will be initiated. “A matter is pending in the court wherein we (state) will tell the court that despite giving concessions and discounts, the pending dues have not been paid. Moreover, for years, these dues have not been paid. If objections are raised by defaulters, we will urge the court to ask the parties to make the payment to the court until the matter is concluded,” Bajaj explained.