Maharashtra Government may impose 2 more taxes

Q: Citizens, especially businessmen, across the Maharashtra may have to pay 2 additional taxes on transactions of immovable properties.

Padma G, Mumbai

22nd July 2015

Real estate News in Mumbai

maharashtra government

chief minister devendra fadnavis

maharashtra municipal corporation act

surcharge on immovable properties

agriculture tax

surcharge on stamp duty

viutp

vital important urban transport projects

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Mahesh Patkar,

28th July 2015

Comment

Mahesh Patkar,

28th July 2015

Comment

Good evening friends,
I heard that the duty is leviable on instruments of sale, such as gift and mortgages of immovable property in those cities where such VIUTPs are started.

For bad situation of the farmers, the state government plans to invest Rs 5000 crore every year to Rs 25000 crore over the next 5 yrs. to improve the agriculture sector. The government plans to take complete responsibility for the education of the children of farmers who have committed suicide and also ensure food security to such families.

Saurav Mishra, Pune

22nd July 2015

Comment

And to create infrastructure, such as wells, artificial lakes, power connections and water pumps, Maharashtra Govt. is planning investments up to Rs 5000 crore a year. In this way, they will have to collect taxes from people as the state's financial condition is not very good.

Ramesk Polekar, Mumbai

22nd July 2015

Hi Ramesk,
It was a major task for the government that they have to dig up 3 lakh wells in the years to come, create 1 lakh artificial farm ponds and facilitate irrigation by acquiring lands. In next 3 yrs, the suicide-prone 14 districts will get 135 special projects in the form of irrigation to bring 2.5 lakh hectares under water supply. For this, over Rs 7000 crore has already been planned.

Rakshit, Mumbai

22nd July 2015

Govt. is helpless and the financial condition of the state is not very healthy. That is why the govt. has appealed to people and businessmen that they may have to contribute this money in the form of additional taxes. It is expected that a surcharge on stamp duty may be fixed for every property transaction, while additional agriculture tax may come through the sale of goods or value-added tax.

Lalit Verma, Mumbai

22nd July 2015

Comment

As per the report, the government can place a surcharge of only up to 2% on stamp duty, which means an additional Rs 200-400 crore a year as the state's annual stamp revenue stands at Rs 20000 crore, of which around Rs 10000 crore is from major cities.

Rakshit, Mumbai

22nd July 2015

@Rakshit,
The state acknowledges the need to execute vital-important urban transport projects related to mass rapid transit systems, such as Metro Rail, bus rapid transit system, freeways and sea links. To make sure that the corporation or agency that manage the notified VIUTPs has sufficient funds at its arrangement, it is considered convenient to impose a surcharge by way of stamp duty.

Lalit Verma, Mumbai

22nd July 2015

It is true Padma..........to boost urban infrastructure such as Metro Rail, freeways and sea links in various cities, and another to enhance agricultural infrastructure to control farmer suicides citizen of Maharashtra will have to pay two additional taxes.

Piyush Khoche, Pune

22nd July 2015

Comment

Very true Piyush,

The Maharashtra government has released a copy of the Bill that aims to revise the Maharashtra Municipal Corporation Act to allow the government to impose the surcharge on transactions of immovable properties. The Bill will be tabled in the state assembly.

Rakshit, Mumbai

22nd July 2015