D K Kapoor
J&K PDP-BJP Coalition Government has added another feather in its cap by announcing total remission of Stamp duty on the purchase of immoveable property by women of the State of Jammu and Kashmir. Finance Department Notification vide SRO 219 of 18th May, 2018 in unambiguous words ordains that the ‘Government hereby directs that there shall be 100 percent remission of Stamp duty’ leviable under the J&K Stamp Act, Samvat 1977 in case of purchase of land or estate in the name of a female member of the family. Innumerable eyes seem glued on the most lucrative announcement of the Government appearing in print and electronic media captioning ‘Historic decision by J&K Government’ and the like. In fact, in the last Cabinet meeting the State Government absolutely stamped out the Stamp Duty leviable on immoveable property purchased in the name of women State subjects. The assertion behind this exemplary incentive is to encourage purchasing property on the names of sisters, daughters, wives and mothers etc. as the words in the SRO 219 elucidate, purchase of land or estate in the name of a female member of the family by way of harmonious interpretation unambiguously provides that there will be complete remission of Stamp duty in case immoveable property is purchased on the name of a female member of the family. In its wisdom, the Government seems to be well conversant that there may be a number of housewives or non-working women who may not have sufficient money in their account by way of independent income or other sources and may, therefore, may be deterred and thereby unable to purchase property in their names. But the recent amendment clearly prescribes that any family member will be eligible to purchase immoveable property in her name from his independent income it makes no difference that she has or doesn’t have own income. Recent Government order (supra) dispensing with paying Stamp Duty on the purchase of land or estate on the name of female member of the family by their family members has come as a boon to the womenfolk notwithstanding the fact that it may be a little disadvantageous to the public exchequer. Only a Government that is invulnerably audacious can venture to provide such a great advantage of its subjects.
This will not be an exaggeration to say that the women-sanitized approach of the State Government pioneering across the country proclaiming such a commendable initiative to boost the morale of women in respect of owning property is second to no other women-friendly legislation. Whereas this act of beneficial legislation is sure to eradicate the clandestine and unlawful practice of purchasing immovable property by way of benami transaction, womenfolk are sure to have a feeling of their importance in the family for owning estate they must indirectly have a security for sustenance as well. Prior to the above exemption of Stamp duty, every purchaser of immoveable property, where the purchase is with respect to land or estate within urban area, had to pay a Stamp Duty under Article 18 of the Stamp Act @ 7 percent of the market value of such land or estate meaning thereby that on the purchase of property, for example, worth ten lakh rupees, every purchaser was under an obligation to pay a Stamp duty of 70,000 and so on and so forth, which is now totally exempted in case of womenfolk and reduced to @ 5 percent in case of male. Similar was the case regarding purchase of immoveable property in rural areas, where Stamp Duty was payable @ 5 percent, which is now reduced to 3 percent of the market value of the property, exceptions to women remains untouched. By this single act, the Government deserves all genuine ovations. Literally speaking, the Government’s stamp on the historic move of ‘no stamp duty’ has brought the state at the top of other states which are still trying to invent and devise ways and means for women empowerment. Kudos J&K Government for taking lead.
Legally speaking, the State Government has the authority under Section 9 of the Stamp Act to reduce or totally abolish, in the entire State or in any specified part thereof, whether prospectively or retrospectively, the stamp duty payable on any instruments or any particular class of instruments, or any of the instruments belonging to such class, or any instruments when executed by or in favour of any particular class of persons, or by or in favour of any members of such class. The State Government is, therefore, well within its competence to accord cabinet approval in respect of total remission of Stamp Duty in case landed property or other immoveable property is purchased in the name of a woman, family member. The Government also deserves appreciation in reducing Stamp duty on purchase of immoveable property from 7 percent to 5 percent in urban areas and from 5 percent to 3 percent in rural areas of the state, vide Finance Department SRO 220 of 18th May, 2018. The objective behind this unprecedented gift to female State subjects is the virtual implementation of the Prime Minister’s well-known declaration Beti Bachao, Beti Padhao .This act is sure to go a long way to forge self-confidence in women of this State and they will not feel insecure nor languish for sustenance in difficult times. It is hoped that the Government will soon extend this happy note and come out with an order with absolute exemption of Stamp duty on instruments like Gift Deed and Lease Deed etc. made in favour of the females of this State.
(The author is former District & Sessions Judge presently, Judicial Member J&K State Consumer Commission)
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