Rajasthan Tax, Stamp & Registration in Budget 2020-21

Rajasthan Stamp & Registration in Budget 2020-21:
• Concession in stamp duty shall be given on lease deedsexecuted by State Government and Local Authorities.
• Full Exemption from stamp duty and concession in registration fees shall be given on transfer of Sick Micro and Small Enterprises.
• Stamp duty shall be calculated on auctionprice in case of auction sale of immovable property of Sick Micro and Small Enterprises.
• Discrepancies in DLC Ratesespecially of Group Housing Schemes shall be removed in Neemrana, Bhiwari and Alwarareas.
• Amnesty Scheme will be launched to give 100% waiver of interest and penalty payable on stamp duty.
• Existing DLC rates will be reduced by 10% to facilitate industries and DLC rates will not be revised in next year also. Rates of stamp duty will be increased by 1%. 
• Facility of online payment of stamp duty will be provided on loan documents executed by Banks and NBFCs online on the portal of National e-governance Services Ltd.(NeSL).
• Time limit for adjudication of stamp duty on the instruments by Collector (Stamps) will be fixed one month in case of instruments executed in the State and three months in case of instruments executed out of State.
• Provisions relating to Land Tax will be simplified and rates will be rationalised and payment procedure will be made transparent and simple.
• Facility of Lump-sum advance payment of stamp duty will be provided for loan documents executed by banks and financial institutions.  As per the amendments made in Indian Stamp Act relating to rate of stamp duty on securities instruments provisions ofRajasthan Stamp Act will be amended accordingly.
• Collector (Stamps) will be given powers similar to civil court to prevent evasion of stamp duty in case of misclassification of documents.
• Reduction in rate of motor vehicle tax by Rs. 50 per seat per month for all three distance based categories of sub-urban routes.
• Reduction in rate of motor vehicle tax by Rs. 100 per month for contract carriage buses for seating capacity based two categories.

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