Yogi-Adityanath-Cabinet-Meeting-In-Lucknow-Uttar-Pradesh-approves-proposal-to give-exemptions-in-stamp-dutyYogi-Adityanath-Cabinet-Meeting-In-Lucknow-Uttar-Pradesh-approves-proposal-to give-exemptions-in-stamp-duty

The proposal to give exemptions in stamp duty, for the blood-related matters of the Stamp and Registration Department, was agreed during a cabinet meeting chaired by Uttar Pradesh Chief Minister Yogi Adityanath. Only Rs 5,000 in stamp duty is now required for a gift deed, partition letter, and family arrangement/memorandum of agreement in favor of the concerned members for the division of the family’s property among family members. This type of 6-month exemption expired in December. In situations like the registry of a property sale deed, stamp duty up to 7% of the property’s value is no longer required to be paid after being exempted once more after around 7 months.

According to information received from sources, in the cabinet meeting chaired by CM Yogi on Tuesday, motion to grant the exemption in stamp duty, in the blood-related matters of the Stamp and Registration Department, was approved. Be informed that exemption was not being given in UP since December last year, while according to the provisions of the Indian Stamp Act, the state government has the right to give such exemption. Using this right, for the first time last year, the UP government had decided to give exemption only for 6 months, while this facility of exemption is already there in many states including Maharashtra, Karnataka and Madhya Pradesh.

Until the next order, the exemption decision will remain in effect. Exemption was not accessible beyond the first six months, which ended in December of last year. So, the state government has now decided to provide exemption until further orders with some amendments in light of the ongoing demand for exemption. Father, mother, husband, wife, son, daughter, daughter-in-law, son-in-law, real brother, real sister, sons and daughters of son and daughter, as well as in the condition of real brother’s death, his wife will also be included in the family members who fall under the purview of the donation deed.

The benefit of exemption on deeds related to transfer of immovable properties will be given from the date of issue of notification by the Stamp and Registration Department. After studying the impact on revenue and registry after exemption, the exemption will now be maintained till further orders.

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