Pune: Maharashtra State Registration Department Threatens Property Attachment for Unpaid Stamp Duty

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Pune, 28th January 2024: The state registration department has issued a stern warning, threatening to attach properties of individuals failing to settle the deficit in stamp duty payments by the end of March.

Senior registration officials disclosed that approximately 2.32 lakh cases were identified last month, prompting notices to be sent out, with a deadline for payment by the end of March. However, only 11,700 individuals have responded to these notices so far.

In response to the lack of compliance, the registration department has decided to take the step of attaching properties to recover the outstanding stamp duty dues. Among the respondents, 2,334 have paid the penalty, 5,679 cases have been disposed of due to stamp duty waivers, and approximately 6,021 cases are still under scrutiny. The total collection recorded by the department until mid-January amounted to Rs 20 crore.

Deputy Secretary (Stamps and Registration) SS Bajaj stated, “If citizens fail to clear their dues, we will be forced to carry out the process of attaching their properties to recover the stamp duty and penalty.”

Majority of the cases, primarily from Mumbai, Pune, Thane, and Nagpur, contribute to an estimated revenue of Rs 3,000 crore if citizens fulfill their payment obligations, as per the official.

An amnesty scheme has been introduced for cases identified between 1980 and 2020. Citizens can avail penalty waivers by paying the deficit stamp duty amount in the next two months. The amnesty scheme is implemented in two phases, from January 1 to January 31 and from February 1 to March 31. For cases between 1980 and 2000 with stamp duty less than Rs 1 lakh, there is a complete waiver on both stamp duty and penalty. In cases exceeding one lakh, a 50% waiver on stamp duty and a 100% waiver on penalty apply.

For cases registered between 2000 and 2020, with stamp duty amounts below Rs 25 crore, there is a 25% waiver on stamp duty and a 10% penalty. If the amount exceeds Rs 25 crore, a 20% stamp duty and a penalty of Rs 1 crore are applicable.