Gujranwala: The Punjab government recently shared the deadline for availing reduced stamp duty on property transfers — with the initiative forming part of the government’s efforts to provide relief to various sectors of the economy during the ongoing coronavirus pandemic, a news source reported. As per the government’s notification, the deadline has been set for June 30.
Previously, the government had announced a reduction in stamp duty from 5% to 1% that could be availed until the end of this fiscal year. The deadline for that falls on the end of this month.
The government has also reissued the instructions to assistant commissioners and sub-registrars so that a maximum number of people are able to avail the reduction in taxes. The measure is expected to not only help boost the construction and real estate sectors, but also enhance economic activities around the country. This could be in the form of sale and purchase of properties and construction materials, or the construction of immovable properties.
