State brings bill to reduce stamp duty in some cases

Time of India

06-08-2025

Panaji:
State govt on Wednesday introduced a bill to reduce the stamp duty burden on mortgagors when mortgaging property without giving possession, and to encourage the registration of trust deeds created for the benefit of family members.
'There will be an impact on the state's revenue due to the proposed reduction in the stamp duty for 'mortgage' and 'trust'. However, the loss cannot be quantified at this stage,' the Indian Stamp (Goa Amendment) Bill, 2025, stated. The purpose of the bill is to rationalise stamp duty on mortgage and trust instruments.
There will stamp duty of Rs 1,000 for a mortgage deed which is not an agreement relating to the deposit of title deeds, pawn or pledge, bottomry bond, mortgage of a crop, respondentia bond, or security bond, when the possession of the property or any part of the property comprised in the deed is given by the mortgagor or agreed to be given, and when possession is not given or agreed to be given as aforesaid.
The bill also states that there will be stamp duty of Rs 500 for a collateral, auxiliary, additional, or substituted security, or by way of further assurances, where the principal or primary security is duly stamped.
Exemptions include instruments executed by persons taking advances under the Land Improvement Loans Act, 1883, or the Agriculturists Loans Act, 1884, or by their sureties, as secured for the repayment of such advances and letters of hypothecation accompanying a bill of exchange.
by Taboola
by Taboola
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Where the trust is made for a religious or charitable purpose, stamp duty would be calculated as Rs 10 for every Rs 500 or part thereof, or a sum equal to the amount settled, or the market value of the property settled.
Where the beneficiary of the trust is the father, mother, brother, sister, wife, husband, daughter, son, grandson, granddaughter, brother-in-law or sister-in-law of the author of the trust, the persons have to pay Rs 5,000 as stamp duty.
In any other case, the same duty as is leviable on a conveyance, as the case may be, of an article for a sum equal to the amount settled or the market value of the property settled.