Maharashtra govt may extend stamp duty amnesty scheme up to Dec 31
Maharashtra government mulls giving extension up to December 31 for the stamp duty amnesty scheme which was notified on March 2. The scheme was introduced mainly for property holders and buyers who have not paid appropriate stamp duty at the time of executing and registering their property document. The scheme was to be concluded on August 31, 2019.
The scheme is currently applicable only on the conveyance and transfer documents submitted on or before December 31, 2018. Prior to the launch of the amnesty scheme, unpaid stamp duty or deficit stamp duty on conveyance and transfer attracted penalty of 4% per month to a maximum of 400% on the deficit amount. However, the total penalty amount is only 10% of the deficit amount under the scheme.