Homebuyers sitting on the fence are likely to enter the property market and move forward with their purchase decisions following the the temporary reduction in stamp duty by Maharashtra government
2 min read30 Aug 2020Stamp duty is the transactional tax, collected by the government on property purchasesMaharashtra government decided to slash stamp duty on sale deed documents by 3 per cent from September 1 to December 31
3 min read28 Aug 2020For a person buying a house worth ₹50 lakh in Mumbai, a 3% reduction in stamp duty will result in a savings of ₹1.5 lakh, while for a property worth ₹1 crore, the savings will be equivalent to ₹3 lakh.
1 min read27 Aug 2020Purchasing a house is a large-ticket spend and a stamp duty reduction may not be sufficient to lure buyers
2 min read27 Aug 2020In Maharashtra, stamp duty charges are 5% in key cities like Mumbai, Pune, Nagpur and Nashik and 6% in others. A reduction of 2-3% in rates will result in handsome savings for home buyers
1 min read26 Aug 2020According to experts, there was previously no stamp duty on off market transactions in demat modeExperts have pointed out that the new rules remove the double imposition of stamp duty on buyer and seller
2 min read30 Jun 2020The implementation of the stamp duty was initially slated for January but was postponed first to April and then to July.The stamp duty will apply to all kinds of mutual fund purchases, including lump sum, SIP, STP and dividend reinvestment.
3 min read30 Jun 2020Under the emergency credit line backed by a government guarantee, banks have sanctioned loans worth over ₹79,000 crore as of 20 JuneIn a meeting with finance minister last week, lenders pointed out that many of these small firms were not using the facility as they could not afford to pay stamp duty
2 min read25 Jun 2020As the gift is received by you from a specified relative, the transaction of gift itself will not trigger any income tax implications for you or your father.In Budget 2020, it has been proposed that effective FY21, the FMV cannot exceed the stamp duty value as on 1 April 2001. But the proposal is yet to be approved
2 min read23 Feb 2020Seasoned investors and regular traders are likely to gain the mostInvestors selling stocks won’t need to pay stamp duty; customers in the currency segment will also benefit
3 min read18 Dec 2019The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared