Pune civic body has failed to collect proper stamp duty from builders
The auditor general (AG) of Pune government has said that the Pune Municipal Corporation (PMC) has failed to collect proper stamp duty from various builders of the city.
In their audit report of the slum rehabilitation housing projects in Pune it id found that payment of stamp duty and royalty charges from the contractors had not been collected properly.
According to the report, stamp duty is payable on security deposits by the builder. This stamp duty is taken in form of bank guarantee for performance of work.
The report of AG also found that one builder has paid RS 100 as stamp duty. This resulted in short payment to the tune of Rs1.40 lakh.
The same report indicates that the civic body has failed to recover royalty charges resulting in revenue loss to the tune of Rs14.85 lakh. The project, where this non-recovery happened, has been identified as BSUP Phase I & II in Hadapsar.
The AG’s report also said that the contractor had not paid the necessary royalty to the revenue department of the state government. The royalty in question are the mandatory payments for usage of rabble, murum, sand, etc., for construction. As per directives of the state government, the fees are to be paid to the revenue department.
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Source: DNA India
Housing projects, projects in Pune, Properties in Pune, Pune Municipal Corporation, Real estate in Pune, rehabilitation housing projects, royalty charges, Stamp duty
