Maharashtra cabinet nod to extend stamp duty amnesty scheme till December

MUMBAI: The state cabinet on Tuesday approved extending the stamp duty deficit penalty reduction amnesty scheme till December-end.
Launched in March, the scheme is chiefly for property holders/buyers in the state who have not paid appropriate stamp duty at the time of executing and registering their property document. The scheme was to end on August 31. The cabinet also approved extending the scheme to non-residential properties.Prior to the amnesty scheme, unpaid stamp duty on conveyance/transfer attracted penalty at the rate of 4% per month to a maximum 400% on the deficit amount. Under the amnesty scheme, total penalty will be 10% of the deficit amount.