The tax rates for stamps payable in Haryana were small denomination stamps fixed since 1967. In all these years, the stamp tax rates for haryana`s neighbouring countries have been revised. To keep pace, it was therefore necessary for the State of Haryana to revise the rate of stamp duty to be paid on the various articles/documents of the State. In 2018, the Haryana government increased the fee for registering real estate registrations to Rs 50,000, depending on the collection rate. Previously, the state only calculated up to 15,000 rupees in the form of a registration fee. The new tax will apply to instruments of sale, gifts, mortgage instruments, certificates of sale, lease instruments, cooperation agreements, instruments of exchange, instruments of division and instruments of transaction. The Amending Act amends Schedule 1-A of the Indian Stamp Act of 1899, which revises stamp duty on various instruments/documents in the state, including: To pay stamp duty and online registration fees, Haryana buyers must go to the Online Government Receipts Accounting System (e-GRAS) platform. The e-GRAS platform facilitates the collection of tax/non-tax revenues, both in online mode and manually. To obtain electronic stamps, buyers must register on the portal. Buyers must pay stamp duty based on the transaction value indicated in the sales contract. However, the cost of real estate must be calculated on the basis of current district rates and stamp duty must be calculated accordingly.
If the house is registered at a value higher than the county rate, the buyer must pay stamp duty on the higher amount. If the property is registered at a value below the circle rate, stamp duty is calculated according to the scales. Stamp duty is stopped for small farmers and small farmers. iStock The lowering of stamp duties will guarantee the interests of small farmers, farmers, farmers and small differential interest rate (DRI) loans, vehicle credit, people who are willing to use lockers and those who wish to benefit from marginal loans, says an official statement. . . .