‘Positive impact on real estate because of reduction in guideline rates of property’

Date :10-Jul-2019

Staff Reporter:

Minister Rathore at ‘Union Budget and GST’ seminar

Addressing a seminar on ‘Union Budget and GST’, the Minister for Commercial Taxes Brijendra Singh Rathore said that the State Government is committed to give relief in taxes to common man of the State. A positive initiative has already been taken in this direction. Informing about the amendments related to stamp fee, he said that 2.5 per cent stamp fee was charged till now on property division and transfer cases. A provision has been made to deposit only Rs 500 and Rs 1,000 towards stamp fee in division records and mutation of property in the name of wife and daughter respectively.

He also informed about the positive impact came in the real estate, owing to 20 per cent reduction in property guideline rates. In the first technical session, CA Sunil Talati informed about various provisions of the Income Tax Act. Similarly, CA Navneet Garg informed about various aspects of GST during the second session. The seminar was organised jointly by the Bhopal Branch of Institute of Chartered Accountants and Tax Law Bar Association.