Although most high-frequency traders (HFTs) prefer to set up shop close to stock exchanges to enjoy better latency, a few are willing to sacrifice proximity to save a few bucks. Two HFTs have already established their offices at the GIFT City (Gujarat International Finance Tec-City) IFSC while many more are likely to follow suit.
The National Stock Exchange and the Bombay Stock Exchange have given their in-principle approvals for collecting stamp duty.
'Rather than abolishing stamp duty as STT is already levied on all transactions, the government has de-facto imposed a state STT in the guise of stamp duty'
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
House owners may soon get some relief from the double stamp duty incidence that currently occurs on property transactions.
Team Anna member and former Union Minister Shanti Bhushan has challenged an order of the assistant stamp commissioner whereby he had been held guilty of evading stamp duty to the tune of about Rs 1.35 crore and deposited a sum of Rs 70 lakh with the office of chief controller, revenue authority, for the purpose.
A builder and two others were allegedly duped of 18.19 lakh by two individuals in Thane, Maharashtra, who promised to secure business loans for them.
Additional District Magistrate (Finance) of Barabanki Shirish Dubey issued the notice to Bachchan through his local lawyer Pradeep Roy and fixed May 5 for a reply. Dubey issued the notice accusing Bachchan of violating relevant sections of the Indian Stamp Duty Act on the basis of a report filed to him by Tehsildar of Barabanki Anil Kumar.
Buckling under pressure from mill land developers, the Maharashtra government is considering reducing the value of textile mill lands in its Stamp Duty Ready Reckoner
The government on Thursday proposed reduction in stamp duty on real estate deals to less than five per cent in order to prevent tax evasions.
Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.
Sebi has proposed waiving off stamp duty on e-issuance of bond to the ministry of finance.
Meanwhile, the stamp duty burden on purchase of residential and commercial property throughout Mumbai is all set to increase by 5 to 25 per cent.
A committee investigating the sale of government land in Pune to a company co-owned by Parth Pawar has found that officials from revenue, stamp, and registration departments facilitated the illegal transaction.
To bring in more transparency, the Maharashtra government will launch e-payment gateways for stamp duty and registration charges.
The finance ministry said the notification pertains to putting in place an efficient mechanism for collection of stamp duty on security market instruments transactions through stock exchanges or clearing corporations authorised by stock exchanges and depositories.
The Allahabad high court on Wednesday turned down a writ petition filed by Team Anna member Shanti Bhushan challenging an order of assistant stamp commissioner in Allahabad, which held him guilty of evading stamp duty to the tune of about Rs 1.35 crore on a property.
The Uttarakhand high court has quashed the order of State Revenue Board on alleged stamp duty evasion by yoga guru Ramdev's Patanjali Ayurved Ltd based in Haridwar.
Conservation of cows in Rajasthan will entail a cost for those making rent agreements, mortgage papers and lease agreement as they will now pay a surcharge of 10 per cent on stamp duty for cow protection.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
The government may impose a stamp duty of Rs 300 per crore (0.003 per cent) on transactions in commodities, stocks and other derivatives, with the Finance Ministry moving a proposal to Cabinet for taking the final call, sources said.
The government is beefing up enforcement against tax cheats in real estate sector, says Panagariya
Among a host of things, the Centre is planning to empower stock exchanges to collect the duty and pass it on to the states. This will be a major shift from the existing structure where states directly collect the duty, whose rate varies from one state to another.
The Maharashtra government expects to collect a revenue of Rs 1.52 crore (Rs 15.2 million) from four major malls inthe city which failed to submit stamp duty papers on time.
At present, e-stamping is available in six states -- Karnataka, Maharashtra, Assam, Tamil Nadu, Delhi & National Capital Territory and Gujarat.
Team Anna member Shanti Bhushan was on Friday found to have evaded stamp duty to the tune of Rs 1.35 crore in the purchase of a prime property in Allahabad and slapped with a fine of over Rs 27 lakh on the outstanding amount.
Taxability in property transactions depends on the actual source of funds and beneficial ownership, not on whose name appears in the purchase agreement.
Mumbai Metropolitan Region recorded housing sales of nearly 9,200 units in Q3 of calender 2020, against 3,620 units in the preceding quarter, registering a 1.5 times growth which is the highest growth seen any city except Chennai.
Mumbai recorded its strongest housing market performance in 14 years in 2025, with property registrations rising to 150,254, amid a sustained end-user demand and supportive supply-side ecosystem, according to Knight Frank India.
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After Maharashtra Deputy Chief Minister Ajit Pawar announced that the sale deed executed by his son Parth's firm for a prime land in Pune has been scrapped, officials said the company will have to cough up double the stamp duty, which comes to Rs 42 crore, to get the transaction cancelled.
