Industry & Economy
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Income Tax
Samadhan scheme stays open till July 23
Our Bureau
Chennai
June 19
The new `Samadhan' scheme to expedite property registration pending determination of correct market value and clear the blocked revenue to the Government will be open up to July 23, according to an official release.
Over 27,000 registered documents have been blocked in this process.
The Government has urged those affected by the delay to use the 40 per cent remission on the difference of stamp duty paid and that chargeable on land and building as proposed by the registering officer on the basis of the guideline register for land and PWD schedule of rates for buildings.
The remission is given on documents pending as on March 22, 2007, under section 47A (1), 47A (3), 47A (5), 47A (6), 47A (10) and 19B (4) of the Indian Stamp Act 1899 for determining market value.
It is also available to documents registered and pending with the registering officers as on March 22 for referring to the Collector under sections 47A (1), 47A (3) and 19B (4) of the Act.
The scheme has been open from April 24, 2007 following a Government Order (Ms) No 95/Commercial Taxes& Registration (J1) dated April 23, 2007. This is the first time that documents pending under sections 47A (5), 47A (6) and 47A (10) of the Act are being included under the `Samadhan' scheme, the release said.
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