Punjab Government Raises Stamp Duty After 2024-25 Budget Approval
The Punjab government raised court fees and stamp duties following the approval of the Finance Bill 2024-25.
Stamp duties for affidavits, mutual agreements, powers of attorney, divorce papers, and rental agreements have seen significant increases as the government aims to generate Rs4.2 billion annually.
With these new charges, the rate for affidavits has increased from Rs100 to Rs300, the stamp duty for the sale of immovable property has risen from Rs1,200 to Rs3,000, contracts worth half a million now cost Rs3,000, and the fee for divorce papers has jumped from Rs100 to Rs1,000.
Punjab New Stamp Duty 2024
| Category | New Rate |
|---|---|
| Affidavits | Rs. 300 |
| Stamp Duty for Sale of Immovable Property | Rs. 3,000 |
| Contracts Worth Rs. 5 Lac | Rs. 3,000 |
| Divorce Papers | Rs. 1,000 |
Additionally, the government amended the Court Fee Act 1870, increasing court fees from Rs1 to Rs100 and from Rs2 to Rs500.
The Finance Bill also amended the Stamp Act 1899, raising stamp duties from Rs100 to Rs300 and from Rs1,200 to Rs3,000. Property taxes will now be based on capital value rather than rental value, and new fines for tax evasion or underpayment have been introduced.
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