In response to the passage of the Karnataka Stamp Amendment Bill, 2023 during the Winter Session in Belgaum, Revenue Minister Krishna Byre Gowda has addressed concerns about the impact on the registration department’s income.
The proposed changes include an increase in stamp duty for various legal documents, such as adoption papers, from ₹500 to ₹1,000. Affidavits, currently charged at ₹20, will see an increase to ₹100. Stamp duty on Power of Attorney will be raised from ₹100 to ₹500, with a further increase to ₹1,000 if issued jointly by more than five but less than 10 persons.
He stated that only 10% of the department’s revenue comes from stamps and emphasized the need for a revision along with measures to prevent financial leakage. The bill, passed on Monday, seeks to raise stamp duty to mobilize financial resources for the state government.
For property partition deeds in urban areas, stamp duty is set to rise from ₹1,000 to ₹5,000 per share, and for properties outside city limits, the proposed increase is from ₹500 to ₹3,000. Agricultural asset division, currently at ₹250 per share, will be increased to ₹1,000.
Stamp duty on divorce papers will rise from ₹100 to ₹500, and fees for certified copies will increase from ₹5 to ₹20. The registration of trusts will also incur higher costs, and fees for mergers of companies and other processes will witness an increase.
Opposition party BJP has criticized the move, labeling it a “loot plan” by the government to fulfill its promises. BJP leader Basangouda Ramangouda Patil Yatnal expressed concerns about the government’s intentions to increase the cost of essential needs for the common man and suggested that fuel prices might be next on the list of planned increases in Karnataka.
