Stamp duty exemption for co-operative housing societies
ravi kistipati
(Querist) 12 September 2023
This query is : Resolved
Our Co-operative Housing Society registered under APCS Act 1964 during the year 1979 in Hyderabad. During the same year (1979) The Housing Society bought a land of 130acres from individual persons with deed total cost of 20,80,000 and paid the stamp duty of 10499/- . I heard from few sources that, there was a GO which provides the stamp duty exemption upon the registrations done for Housing society. Is it True, if yes - the stamp duty here in 10499/- is the price after exemption given in the GO ? Can you please help me with this? I want to know if this society availed the stamp duty subsidy/exemption attracted by the GO's in force during the year 1979 .
Isaac Gabriel
(Expert) 12 September 2023
The exemption differs from state to state.Cooperative Housing Societies are provided with stamp duty.exemption at the time of.sale.cum lease agreement, thereafter exempted.to.some extent.at.the.time of registration.
kavksatyanarayana
(Expert) 12 September 2023
When it was combined with Andhra Pradesh, there was a GO exempting the cooperative housing society members from payment of stamp duty if, at the time of purchase, the society should pay the stamp duty. There is no exemption to the Housing Society, it shall pay the stamp duty. But if it allot to members then the stamp duty is exempted vide GO 472/dated10.05.1985.
T. Kalaiselvan, Advocate
(Expert) 13 September 2023
This is a matter of the year 1979, i.e., more than four decades, so how are you connected to this issue after the span of four decades of the occurrence, and what is your claim on it.
You can discuss you problem which will find an answer from one or the other experts of this forum instead of posting such hypothetical questions.
ravi kistipati
(Querist) 13 September 2023
Dear All, Thanks for your time and reply. Due to some fraudulent activities done by current managing committee, the DCO did an inquiry and superseded the Body. But the EC body approached the tribunal saying it is non-aided society as the society haven't taken any exemption on stamp duty, based on this rule they filed a counter at tribunal to vacate the superseded order. So the question is Aided Society vs Non-Aided . In our case , while purchasing the land of 130 acres during 1970 they paid stamp duty of 0.5% , Post that they cinvered the land into plots . however there are no registration charges upon registrations of plots to customers . So my question is 0.5% stamp duty is an exempted / subsidy rate at that time or not ?
ravi kistipati
(Querist) 13 September 2023
Dear All, Thanks for your time and reply. Due to some fraudulent activities done by current managing committee, the DCO did an inquiry and superseded the Body. But the EC body approached the tribunal saying it is non-aided society as the society haven't taken any exemption on stamp duty, based on this rule they filed a counter at tribunal to vacate the superseded order. So the question is Aided Society vs Non-Aided . In our case , while purchasing the land of 130 acres during 1970 they paid stamp duty of 0.5% , Post that they cinvered the land into plots . however there are no registration charges upon registrations of plots to customers . So my question is 0.5% stamp duty is an exempted / subsidy rate at that time or not ?
kavksatyanarayana
(Expert) 13 September 2023
I think the GO 472 is still in force to my best. Consult with District Cooperative Society Authorities for your clarification. If they do not respond, use RTI.
T. Kalaiselvan, Advocate
(Expert) 13 September 2023
This involves the local law in this regard, hence it would be better that you clarify the desired details through a local experienced lawyer and proceed as suggested
