Maharashtra Stamp Duty Amnesty Scheme 2023-24 | Law & Practice

This book presents an insightful and practical discussion of the 'Maharashtra Stamp Duty Amnesty Scheme 2023-24.' It offers clarity on stamp duty, registration, and related provisions, presented in a user-friendly format with flow charts, FAQs, examples, and QR codes spread across four parts. The book serves as an essential reference for both non-specialists and professionals.

Description

This book is a comprehensive guide to provide an in-depth understanding of the new Maharashtra Stamp Duty Amnesty Scheme for 2023-24. It is a blend of theoretical and practical elements, designed not only as a guide but also as a reference manual for professionals in the field. This book is divided into four parts:

• Part I discusses the new Stamp Duty Amnesty Scheme, elaborating on its provisions, processes, practical tips, and FAQs and providing valuable tools like checklists, flow charts, and QR codes for additional resources
• Part II focuses on Stamp Duty & Registration provisions, including FAQs and practical examples
• Part III compiles Notifications, Orders, and other relevant administrative documents, offering a comprehensive view of the Scheme's operational framework.
• Part IV discusses Representations to Ministers & Authorities, providing insights into the challenges of implementing the Scheme and proposing measures for its success.

It is a valuable resource for housing society members, new flat purchasers, builders, developers, real estate agents, advocates, and stamp duty and registration professionals.

The Present Publication is the 1st Edition, authored by Adv. Shyamsundar Patil, CA. Ramesh S. Prabhu and CA. Shreyash Prabhu with the following detailed coverage:

• About Stamp Duty Amnesty Scheme
• Stamp Duty Amnesty Scheme (Abhay Yojana) 2023-24
• Background – Stamp Duty Amnesty Scheme 2023-2024
• Types of documents covered under the Scheme
• Avail benefits of the Scheme for pending deemed conveyance
• Determination of market value by the ready reckoner for stamp duty
• Online application for the Amnesty Scheme
• Payment of stamp duty and its process
• About Stamp Duty and Registration
• Stamp Duty – Overview, Importance and Valuation Factors
• Registration of Documents
• Stamp duty applicable on conveyance from time to time in favour of co-operative housing societies
• Stamp Duty on conveyance in co-operative housing societies from the beginning of the Stamp Act
• FAQs from the government (IGR) Website
• QR Code for articles, important government sites and YouTube videos on Stamp Duty Amnesty Scheme 2023
• Appendix Covering Orders & Circulars
• APX-1 – 07/12/2023 – Stamp Duty Abhay Yojana 2023 Order
• APX-2 – 11/12/2023 – Standard Operating Procedures (SOP) for availing benefits under Stamp Duty Abhay Yojana 2023
• APX-3 – 13/12/2023 – Corrigendum in Standard Operating Procedures (SOP) with respect to SOP
• APX-4 – Maharashtra Collector Stamp District Wise/Taluka wise
• APX-5 – 12/12/2023 – Implementation of Maharashtra Stamp Duty Abhay Yojana 2023
• APX-6 – Scrutiny of documents for filing in Abhay Yojana 2023
• APX-7 – 13/12/2023 – Letters issued by the Collectors of Stamps to Co-operative Housing Societies to avail the benefits of the Scheme
• APX-8 – Stamp Duty And Registration Fees Applicable on certain Instruments as per Schedule-I of the Act
• APX-9 – 02/01/2018 – Guidelines regarding the calculation of built-up area and carpet area for market value calculation
• APX-10 – 07/12/2013 – Circular to protest the loss of Govt. revenue and to protest mismanagement of Stamp Duty by IGR
• APX-11A – 22/04/2009 – Letter issued by IGR dated 22/04/2009 regarding Amnesty Scheme 2008 in respect of stamp duty on the instruments executed during the period from dt. 4-7-1980 to 10-12-1985
• APX-11B – Letter Issued by IGR Dated 10-08-2006 regarding Amnesty Scheme 2008 in Respect of Stamp Duty on the instruments executed during the period from Dt. 4-7-1980 to 10-12-1985
• APX-12 – 12/04/2012 – Procedure for calculation of the stamp duty applicable on the deemed conveyance deed issued by IGR
• APX-13 – 14/06/2016 - To determine the documents in view to remove the difficulties in Deemed Conveyance
• APX-14 – 12/07/2016 - Documents required for registration of Deemed Conveyance Deeds of Deemed Conveyance Deeds of Co-operative Housing Authority as per provisions of MOFA Act, 1963
• APX-15 – 22/06/2018 – Procedure to be followed while issuing deemed conveyance order and certificate
• APX-16 – 22/12/2011 – Registration of confirmation deed or declaration deed issued by IGR
• APX-17 – 28/05/2012 – Regarding Registration of Confirmation Deed or Declaration Deed (FAQ by IGR)
• APX-18 – Format of Society Certificate Mentioning the Details of the Agreement to be processed under Amnesty Scheme to Pay Stamp Duty on their own agreement
• APX-19 – Format of Authority Letter
• APX-20 – Power of Attorney
• APX-21 – Indemnity Bond
• Representation Made to the Government to Address Challenges & Concerns by Mahasewa
• APX-22 – Amendment in MOFA to register the agreement for sale/resale of flats to give relief to Lakhs of citizens of Maharashtra whose agreements were not registered and to generate the revenue under the Stamp Duty Amnesty Scheme 2023
• APX-23 – Suggestion to implement the unique Stamp Duty Amnesty Scheme more effectively and Successfully for the benefit of the public at large
• APX-24 – Representation to ease the process of adjudication of deemed conveyance and consider the agreement for sale before 10.12.1985 under the latest Stamp Duty Amnesty Scheme 2023
• APX-25 – Representation on payment of stamp duty under Stamp Duty Amnesty Scheme, 2023, on Certified Copy or Photocopy of Stamped executed Instrument
• APX-26 – Representation to accept online application to be under Stamp Duty Amnesty Scheme, 2023
• APX-27 – Representation on payment of stamp duty under Stamp Duty Amnesty Scheme, 2023, on share certificate and allotment letter issued by the co-operative housing society constructed on private land
• APX-28 – Representation regarding Policy Changes required for smooth completion of Redevelopment and Self Redevelopment Projects

About the author

Shyamsundar Patil

Shyamsundar Patil is a highly experienced and accomplished professional with a diverse background spanning various departments in the government sector. He holds a Bachelor of Science degree from the Government College of Arts & Science, Aurangabad, affiliated with Marathwada University (1982). His academic achievements include a Silver Medal in the Advanced Post Graduate Diploma in Urban Management from Mumbai University and a Law Degree (LLB) from the same university.

With an impressive career spanning 39 years, Mr. Patil has contributed significantly to multiple departments. His tenure includes 27 years in the Revenue Department, three years in the Sales Tax Department, seven years in the Police Department, and two years in the Reserve Bank.

In his illustrious career, Mr. Patil has held several key positions. Notably, he served as the Managing Director of Mahanand (Maharashtra Rajya Sahakari Dudh Mahasangh Maryadit) as an IAS Officer. He was also the Joint Secretary in the Revenue & Forest Department at Mantralaya, Mumbai, handling portfolios such as Stamp & Registration, the Sardar Sarovar Project, and Evacuee Properties. Additionally, he held the responsibility of the Settlement Commissioner for Compensation Pool Properties-cum-Custodian of Evacuee Property in Maharashtra State.

His other notable roles include serving as the Deputy Secretary and Dy. Inspector General of Registration & Dy. Controller of Stamps in Mumbai and the Superintendent of Stamps in Mumbai.

Mr Patil's dynamic career also saw him undertaking significant responsibilities in municipal administration. He served as the Additional Municipal Commissioner for the Thane Municipal Corporation, temporarily taking charge as the Commissioner for both the Thane Municipal Corporation and the Kalyan Dombivli Municipal Corporation.

His other roles have included serving as an Officer on Special Duty (OSD) to the Minister in the Revenue Department and the Additional Chief Secretary (Revenue), Government of Maharashtra. His administrative acumen was further demonstrated as a Sub-Divisional Officer & Magistrate in the Mumbai Suburban District, Deputy Collector (Appeals) in the Mumbai Sub-urban and Thane Districts, and District Supply Officer in the Sindhudurg District. Additionally, he has experience as a Sales Tax Officer in the Mandavi and Andheri Divisions, Mumbai, and as a Police Sub-Inspector in the Greater Mumbai Police Force.

Mr Patil's vast experience and multifaceted roles reflect his versatile skill set and his significant contribution to public administration and governance in Maharashtra.

Ramesh S. Prabhu

CA. Ramesh S. Prabhu is a well-known public figure and a highly qualified Mumbai-based Chartered Accountant with CISA (USA) practising for over the last 22 years. He is hailed as the Architect of Deemed Conveyance. His area of specialisation has been the Cooperative Housing sector. He has authored around 60 books on various issues of Housing society functioning like conveyance, transfer of flats, parking, repairing, collection of member dues, income tax, service tax for housing societies, etc. All of these books were released by the Ministry of Cooperation, Govt of Maharashtra, under the hand of the Cooperative Secretary at the Housing Society Expo, held in Mumbai in 2006.

CA. Ramesh Prabhu has compiled 101 Judgment Series Books for Office Bearers and Members of Housing Societies on different topics. He was appointed as a Member of the Committee by the Govt. of Maharashtra in 2008 to frame the law pertaining to Deemed Conveyance. The Govt. has since passed the Bill on Deemed Conveyance, signed and endorsed by the President of India.

Shreyash Prabhu

CA Shreyash Prabhu, B.Com., ACA is a dynamic and multifaceted Chartered Accountant, practising and enhancing his legal expertise in the second year of LLB. His professional journey includes a significant stint in internal audit at Grant Thornton (GT), where he honed his skills for a year. Shreyash's dedication to his field extends to his role as a partner at R.S. Prabhu & Associates, a reputable chartered accountant firm.

Besides his professional commitments, Shreyash is a renowned educator, regularly contributing as faculty and trainer in various programs. He made a notable impact as a presenter at the 4-day Residential RERA Leadership Development Program organized by ICAI in Hyderabad, attended by nearly 15 authorities and RERA experts across India. His commitment to societal welfare is evident through his active participation in spreading awareness about the deemed conveyance of society and the practice of RERA, aiming to support allottees affected by unscrupulous builders.

Shreyash is currently educating the public about the Stamp Duty Amnesty Scheme 2023. He conducts seminars and meetings with various societies, helping people understand the Scheme's benefits and maximizing its potential.

Shreyash's passion for learning and disseminating knowledge is reflected in his contributions to literature. He has been pivotal in publishing the Maharashtra RERA Law & Practice Manual 2024 by the WIRC of the Institute of Chartered Accountants of India. Additionally, he has actively written for and contributed to the latest book on the Stamp Duty Amnesty Scheme 2023-24, published by the Maharashtra Societies Welfare Association (MahaSewa).

Recognizing his expertise and commitment to community service, he serves as an honorary advisor to the Mumbai Sub-urban District Co-op. Housing Federation and MahaSewa. Shreyash Prabhu's diverse expertise, commitment to education, and community service make him a distinguished professional.