JAMMU: The Jammu and Kashmir government has issued formal notification for remission of stamp duty on land and estate to be purchased in the name of the female member of the family in the state.
“There shall be 100 per cent remission of stamp duty leviable on land or estate, on its purchase in the name of a female member of the family,” a notification issued by Principal Secretary Finance, Navin Kumar Choudhary, said.
The Finance Department issued two more orders by virtue of which the stamp duty for the urban areas has been slashed from 7 % to 5 % and for the rural areas from 5 % to 3 %.
The decision to waive off stamp duty on the properties owned by the women was taken by the state Cabinet last week and it was widely hailed as a progressive measure by various sections of the society.
Source: Press Trust of India