The Game Of selling Property Worth Crores On RS. 100 stamp will stop:-
- Game caught in investigation of power of attorney.
- Stamp duty will not be charged on property maintenance attorney.
- The state government has curbed the game of selling properties worth crores through power of attorney on a RS. 100 stamp. Now if anyone is given the right to sell property except blood relations then. Seven percent stamp duty equal to that of registry will have to be paid. the cabinet approved the proposal related to this on Tuesday. Stamp and Registration Minister Ravindra Jaiswal said that efforts have been made to maintain the property.
- Power of attorney is exempted from stamp duty. The Stamp and Registration Minister said that the government has taken steps to curb illegal buying and selling of land property. Developer from village to city.
- Even in the city, instead of buying the land directly, they are playing the game of selling it through power of attorney. due to this, on one hand the Stamp and Registry Department is incurring revenue loss, while on the other hand it is hurting the innocent farmers and the poor of the city.
Income Tax Notice Were Arriving Nearby:-
The Minister said that in Western Uttar Pradesh alone, more than two lakh powers of attorney were seized, under the guise of which farmers were cheated.
The farmers were paid for the land but instead of registry, power of attorney was made with them and then the land was sold in pieces and the amount was increased three times. Earned profits and did the registration directly with the farmers. As soon as the huge profits came on paper, the Income Tax Department started sending notices to the farmers, only then the matter came to light.