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Woman Property Buyers gets Tax Exemptions

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According to the sources available to www.propertykhazana.com, proposals to give women land purchasers with an even of 3% stamp duty (SD) might drop into the ‘green box’. Currently, SD on realty buyers varies from 7% to 12% depending on states and still the Capital city only is in exemption with 4% SD for women against 6% for men.
The progress was planned only after seeing a rising needs of incentivize high land in the christen of a woman, but still the implementation of planned policy will be the right of the individual states. All states is not following the similar Stamp duty for women, in recent times Haryana had decreased the stamp duty for women to 8% against the men it was 10%. Even though, there were some states which has lesser Stamp duty for women land purchasers compared to men. But, the price is higher than what central government had recommended.
Disclosed sources said the www.propertykhazana.com that, Revenue collections of some of the states might be the base owing to the decrease in the stamp duty. For instance, Karnataka has the capacity to obtain proceeds for more than Rs. 2,373 Crores in the year 2005-06 under stamp duty collections. Certainly, 1% of decrease can carry a drop of almost Rs. 240 Crores which will be a lot of loss in itself and for the cause; the execution has kept on hold for sometimes. Also there was a progress to uniform stamp duty prices as opposing to what is the current development in the states like 10% in UP, 11% in Rajasthan and 12% in Himachal Pradesh.
Source: NIMMA BENGALURU

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