Stamp duty, registration below target, lower than last 2 yrs’ collection
1 week ago

Stamp duty, registration below target, lower than last 2 yrs’ collection

Hindustan Times  

MUMBAI: While the fiscal deficit in the ongoing financial year 2024-25 is expected to widen, the revenue collection from stamp duty and registration has dipped compared to the cumulative collection in the past two years. The collection from stamp duty and registration until December 31 is ₹39,767 crore or 72.3% against the target of ₹55,000 crore set for the financial year, which is much below the collection till the corresponding month in the previous two years. Stamp duty, registration below target, lower than last 2 yrs’ collection Stamp duty and registration are the third highest source of income for the state after goods and services tax, and sales tax. “The collection of stamp duty and registration always increases in March, the last month of the fiscal, fearing the rise in the ready reckoner rates.

Registration Duty Crore Target Collection Stamp Stamp Duty  lower  state  crore  stamp  registration  yrs  target  months  31  revenue  duty  collection

History of this topic

India’s April-November 2024 fiscal deficit hits 52.5% of FY25 target at ₹8.47 lakh crore
1 week, 2 days ago

India’s April-November 2024 fiscal deficit hits 52.5% of FY25 target at ₹8.47 lakh crore

Live Mint  

India’s fiscal deficit for the April-November period was ₹8.47 trillion, 52.5% of the estimate for 2024-25, according to the data released by the Controller General of Accounts on Tuesday. The latest figure is lower than ₹9.07 trillion a year ago due to the Reserve Bank of India dividend and subdued government capex during the first quarter amid the general elections, …

UP collects ₹1.35 lakh crore tax revenue in 8 months
1 month ago

UP collects ₹1.35 lakh crore tax revenue in 8 months

Hindustan Times  

[email protected] For representation only Uttar Pradesh government on Wednesday claimed it has collected a tax revenue of ₹135058.47 crore in the first eight months of 2024-2025. It collected ₹7579.74 crore from transport, ₹2226.81 crore from energy and ₹279.54 crore from land revenue “Our revenue collections are going up and the state’s financial situation is witnessing marked improvement consistently. The state …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
1 month, 4 weeks ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

Revenue, finance depts oppose CM’s stamp duty slashing announcement
3 months, 4 weeks ago

Revenue, finance depts oppose CM’s stamp duty slashing announcement

Hindustan Times  

MUMBAI: Although chief minister Eknath Shinde has announced reduction in stamp duty on registration of properties to give boost to the real estate sector, state’s revenue and finance departments have opposed the move saying it would lead to loss of upto ₹25,000 crore revenue which would not be bearable when the state is spending enormous amounts of money on populist …

Mumbai records 11,735 property registrations in August 2024; stamp duty collections hit ₹1072 crore
4 months, 1 week ago

Mumbai records 11,735 property registrations in August 2024; stamp duty collections hit ₹1072 crore

Hindustan Times  

Mumbai witnessed a 8% Year-on-Year increase in property registrations in August 2024 with the number rising to 11,735 from 10,902 a year earlier, according to the data of the Inspector General of Registration and Controller of Stamps of Maharashtra. Mumbai witnessed a 8% Year-on-Year increase in property registrations in August 2024 with the number rising to 11,735 from 10,902 a …

Mumbai property registrations increase by 19% Y-o-Y in July 2024; stamp duty collections up by 27%
5 months, 1 week ago

Mumbai property registrations increase by 19% Y-o-Y in July 2024; stamp duty collections up by 27%

Hindustan Times  

Property registrations in the Mumbai real estate market grew by more than 19% to touch 12,160 in July 2024 from 10,221 a year earlier, according to the data shared by the Inspector General of Registration and Controller of Stamps of Maharashtra. Property registrations in the Mumbai real estate market grew by more than 16% to touch 12,160 in July 2024. …

Mumbai property registrations rise 11% Y-o-Y in June 2024; stamp duty collections up by 15%
6 months, 1 week ago

Mumbai property registrations rise 11% Y-o-Y in June 2024; stamp duty collections up by 15%

Hindustan Times  

Property registrations in the Mumbai real estate market grew by more than 11% to 11,443 in June 2024 from 10,319 a year earlier, according to the data shared by the Inspector General of Registration and Controller of Stamps of Maharashtra. In May 2024, a total of 12,000 property registrations were reported in the Mumbai real estate market. Property registrations in …

Direct tax collections for FY 2024-25 surge by over 20%
6 months, 3 weeks ago

Direct tax collections for FY 2024-25 surge by over 20%

Hindustan Times  

The Ministry of Finance has announced a robust growth in India's direct tax collections for the financial year 2024-25, with net collections increasing by 20.99 per cent and gross collections growing by 22.19 per cent. As per the provisional figures up to June 17, 2024, the net direct tax collections for FY 2024-25 have reached ₹4,62,664 crore. The net collections …

Stamp duty hiked for several transactions
8 months ago

Stamp duty hiked for several transactions

The Hindu  

A multi-fold increase in the stamp duty has been effected for several transactions. The stamp duty for registration of an instrument regarding power of attorney for the sale of immovable property for consideration was originally fixed at 4% on the value of consideration. A senior government official explains that the amendment to the Indian Stamp Act, 1899, has been done …

Real estate boom: Revenue from stamp duty and registration crosses ₹50,400 crore
9 months, 1 week ago

Real estate boom: Revenue from stamp duty and registration crosses ₹50,400 crore

Hindustan Times  

Mumbai: The revenue collection from the stamp duty registration in the financial year 2023-24 has crossed ₹50,400 crore, with a whopping 13% rise over last year’s collection, thanks to the continued buoyancy in the real estate sector and government drive to recover dues. Sonawane said that the whopping collection was due to rigorous recovery rather than the boost in the …

Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data
10 months, 1 week ago

Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data

Hindustan Times  

The government's fiscal deficit at ₹11 lakh crore at January end touched 63.6 per cent of the revised annual target, according to the official data released on Thursday. The government's total receipts stood at ₹ 22.52 lakh crore as of January 2024 In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 …

Direct tax collections cross 80% of 2023-24 target
11 months, 4 weeks ago

Direct tax collections cross 80% of 2023-24 target

The Hindu  

India’s net direct tax collections touched ₹14.7 lakh crore by January 10, meeting over four-fifths of this year’s target and reflecting a growth of 19.4% over the same period of 2022-23. The Central Board of Direct Taxes on Thursday said that provisional direct tax collections continue to register ‘steady growth’ with gross collections rising 16.77% to ₹17.18 lakh crore, led …

Tax kitty up 20.7%, crosses 75% of Budget target
1 year ago

Tax kitty up 20.7%, crosses 75% of Budget target

The Hindu  

India’s net direct tax collections had grown 20.7% by December 17 to cross ₹13.70 lakh crore, the Finance Ministry said on Monday, indicating that 75.15% of the year’s direct tax target has been met. “The net direct tax collection of ₹13,70,388 crore includes Corporation Tax at ₹6,94,798 crore and Personal Income Tax including Securities Transaction Tax at ₹6,72,962 crore,” the …

Consistent increase in 2023-24 revenue collections: UP govt
1 year, 1 month ago

Consistent increase in 2023-24 revenue collections: UP govt

Hindustan Times  

LUCKNOW The UP government on Tuesday claimed a consistent increase in its revenue receipts with a collection of ₹2,580.78 crore more in November this year. We have maintained transparency in the release of data about tax and non-tax collections,” said minister for revenue Suresh Khanna while releasing the details about the state government’s total revenue collections. The state government’s non-tax …

State saw 35% rise in revenue from stamp duty, registration in 2022-23
1 year, 9 months ago

State saw 35% rise in revenue from stamp duty, registration in 2022-23

Hindustan Times  

The state government has mopped up a whopping ₹43,289 crore in stamp duty and registration, about 35% more than its ₹32,000-crore target set for the 2022-23 financial year. Shravan Hardikar, inspector general of registration, said, “We saw the advance payment of the stamp duty at the beginning of the year as home buyers wanted to take advantage of the waiver. …

IGR office earns ₹42,000 crores in revenue, 131% more than projected earnings
1 year, 9 months ago

IGR office earns ₹42,000 crores in revenue, 131% more than projected earnings

Hindustan Times  

PUNE: After two years of revenue losses due to Covid-19 restrictions, the Inspector-General of Registration and Stamps, Pune office, has notched up revenue worth ₹42,000 crores which is ₹10,000 crores more than the target set by the government for the current fiscal. According to the IGR office, the increase in earnings is due to factors such as a growing number …

Maharashtra Stamp Act | Collector Has No Power To Revise Stamp Duty Once It's Already Been Levied & Paid: Bombay High Court
2 years, 5 months ago

Maharashtra Stamp Act | Collector Has No Power To Revise Stamp Duty Once It's Already Been Levied & Paid: Bombay High Court

Live Law  

The Collector of Stamps under the Maharashtra Stamp Act cannot revise stamp duty once it has been levied and paid, the Bombay High Court held earlier this year. Advocate Mayur Kandeparkar for the petitioner argued that the Collector acted in violation of principles of natural justice as no hearing was granted to the petitioner before revising the stamp duty and …

States Earn Rs 1.7 Lakh Crore From Stamp Duty, Registration Charges During 2021-22: Report
2 years, 6 months ago

States Earn Rs 1.7 Lakh Crore From Stamp Duty, Registration Charges During 2021-22: Report

News 18  

The total revenue collection from stamp duty and registration charges from 27 states and one union territory in India was recorded at Rs 1.7 lakh crore for the financial year 2021-22. The state contributed 21 per cent of the country’s overall stamp duty and registration charges revenue. Uttar Pradesh was placed second with Rs 20,048.3 crore revenue from stamp duty …

Auction of land parcels fetches TS govt rs 500crore in three days
2 years, 9 months ago

Auction of land parcels fetches TS govt rs 500crore in three days

Deccan Chronicle  

Hyderabad: The last month of the current fiscal is set to end on a good note for the state government. The auction of land parcels in various districts in the last three days fetched Rs 500 crore for the government. Municipal administration and urban development special chief secretary Arvind Kumar tweeted, "The Government of Telangana has successfully auctioned off residential …

Govt. borrows 58% of target despite 74% more direct tax collections
3 years, 3 months ago

Govt. borrows 58% of target despite 74% more direct tax collections

The Hindu  

In spite of the Centre collecting a whopping 74% more direct taxes so far this fiscal on an annualised basis at ₹ 5.70 lakh crore, it has also borrowed a massive 58 % of the budgeted amount during the same period by selling ₹ 7.02 lakh crore worth of debt securities in the market. While at the weekly auction of …

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