HYDERABAD: Self-declaration for any purpose on an affidavit would cost Rs 100 in Telangana from the present Rs 20 stamp paper, after the President gave his assent to the Indian Stamp (Telangana Amendment) Act, 2021, which was adopted by the State Legislative Assembly on Thursday. The minimum stamp value for any cash transaction will be Rs 1 instead of 20 paise.
Roads and Buildings Minister Vemula Prashanth Reddy, while moving the Bill, on behalf of Chief Minister K Chandrasekhar Rao, said the stamp duty rates had not been revised in separate Telangana and the Cabinet had recently given a nod for increasing the stamp duty.
The Minister said that Rs 20 stamp paper and 20 paise revenue stamp had been in use for several decades in the State and needed to be revised. He however said that as it was a Central Act, the President had to give assent for the same. The Minister said that the stamp duty rates for 18 existing categories of transactions were proposed to be increased in the Bill.
Besides, seven new transactions like advertisement, mass media agreements, telecasting and broadcasting contracts were proposed to be brought into the Act. Four new sections were added to the existing Act, the Minister said.
All electronic transactions, which were not considered as documented transactions, housing loan and vehicle loan transactions and transactions of the insurance companies were proposed to be included in the Act.
Besides, if any person willingly or unwillingly avoided paying stamp duty or paid less stamp duty, the Amendment Bill proposed to give powers to officials concerned to verify his/her documents. BJP member M Raghunandan Rao suggested that the government increase the stamp duty in a periodical.
RTC to ink pact with Amazon
Minister for Transport, Puvvada Ajay Kumar said in the Assembly that discussions are underway with the e-commerce platform Amazon for extending its goods and parcel services in the State
Centre, Telangana must work together to boost organic farming: Agriculture Minister
Agriculture Minister S Niranjan Reddy said that the Central and State governments needed to work together to encourage farmers to opt for organic farming. Responding to the questions posed by MLCs G Venkanna, Gangadhar Goud and Narsi Reddy in the Legislative Council on Thursday, the Minister said that the State had distributed green manure seeds for 12 lakh acres to promote organic farming.
Pointing out how the women farmers of Enabavi village in Jangaon district were marketing their organic produce through their brand 'Sahaja', he said that such farming could become profitable if its marketing was done properly