Online edition of India's National Newspaper
Thursday, Mar 24, 2005

About Us
Contact Us
Tamil Nadu
News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Employment |

Tamil Nadu Printer Friendly Page   Send this Article to a Friend

Tamil Nadu Stamp Act soon

By Our Special Correspondent

CHENNAI, MARCH 23. The Government will enact the Tamil Nadu Stamp Act exclusively for the State incorporating all the recent amendments, the Minister for Public Works, Prohibition and Excise and Revenue, O. Paneerselvam, announced in the Assembly today.

Moving the demands for grants for these departments, he said the Tamil Nadu State Marketing Corporation (TASMAC), from April 2004 to February 2005, had earned an additional revenue of Rs.1151.66 crores compared to the corresponding period last financial year.

Mr. Paneerselvam said Maharashtra, Karnataka and Kerala had already enacted their State Stamp Act while Tamil Nadu was still following the Indian Stamp Act, 1899. The Government also decided to simplify and rationalise the table of fees under the Registration Act. Instruments such as `deposit of title deeds' and `power of attorney with possession' would be made compulsorily registrable, he added.

`Samadhan' till

March 27

The `Samadhan Scheme', aimed at clearing the pending documents after paying 60 per cent of the difference of stamp duty or registration fee between the actual remittance of duty or fee and what was chargeable on the value of the properties as raised by the Sub Registrar. Introduced on December 28 last year, will be in force till March 27. Up to February last, of the 51,434 documents pending, 13,572 documents had been cleared and Rs.33.26 crores collected, he said.

The Government would constitute panels at the taluk, district and State levels to rectify anomalies and rationalise the determination of guideline values, Mr. Paneerselvam said.

Reduction in stamp Duty had benefited the people to the tune of Rs.648 crores. Restricting the use of non-judicial stamp papers with denominations up to Rs.100 only, the use of special adhesive stamps up to Rs.5 per instrument, the jurisdiction of usage of non-judicial stamp papers with the sub-registrar office limit and affixing hologram on instruments as additional security feature were among the Government's proposals for checking circulation of fake stamp papers.

The Government would relax the condition of production of Patta Pass Book in view of the problems faced by agriculturists in effecting transactions.

On the TASMAC sales turnover, the Minister said the sales volume of Indian-made foreign liquor during the current financial year was 176.16 lakh cartons, as against the sale of 143.06 cartons during the corresponding period of the previous financial year.

Printer friendly page  
Send this article to Friends by E-Mail

Tamil Nadu

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Employment | Updates: Breaking News |


News Update


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu