Latest news with #GoaAmendment)Bill
Time of India
4 days ago
- Business
- Time of India
State brings bill to reduce stamp duty in some cases
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 Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo 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.
New Indian Express
25-07-2025
- Business
- New Indian Express
Goa Assembly passes bill to extend daily factory work hours to 10, cites 'Ease of Doing Business
PANAJI: The Goa legislative assembly has passed a bill to raise the daily work hour limit in factories from nine to ten to facilitate the 'Ease of Doing Business'. The assembly on Thursday night passed the bill seeking to amend provisions of the Factories Act, to extend daily working hours in factories and increase the permissible limit for overtime work. The Factories (Goa Amendment) Bill was tabled by the State Factories and Boilers Minister Nilkanth Halarnkar on Thursday during the ongoing monsoon session of the House. Through the bill, the government plans to amend section 54 of the Central Act, as applicable to Goa, and enhance the daily limit of working hours for adult workers from the existing nine to ten. It also seeks to amend Section 65 of the Act to raise the maximum overtime permitted in a quarter from 125 to 144 hours. The statement of objects and reasons attached to the bill said that the proposed amendments were aimed at facilitating the 'Ease of Doing Business' by reforming and simplifying regulatory frameworks. 'The amendments will provide greater flexibility in factory operations and align with evolving industrial needs while ensuring compliance with statutory safeguards,' according to the Bill. The government has clarified that the proposed changes do not entail any financial implications. Chief Minister Pramod Sawant told the House that the Bill would be referred to the President for assent before it takes effect as law.
Time of India
20-07-2025
- Business
- Time of India
15-day Goa assembly's monsoon session to see 4,000 questions, 16 bills
Panaji: The 15-day monsoon session of the state assembly, beginning on Monday, is likely to be hectic and acrimonious, with govt facing over 4,000 questions. The opposition is all set to corner govt over various issues, including unemployment, Mhadei, deteriorating law and order, and land conversions, among other issues. Tired of too many ads? go ad free now During the session, govt will answer 789 starred questions that require oral replies and 3,330 unstarred ones. Govt will introduce 16 bills in the assembly, and 15 private member resolutions will be discussed. The general discussion on the budget will take place from Monday to Wednesday. Demand for grants will be taken from Thursday to Aug 8. State govt is likely to introduce bills to regularise illegal structures on comunidade land and govt land. Govt, through the bill, will empower the administrator of the comunidade to decide on the application — bypassing the comunidade — to regularise the illegal structures on the respective comunidade, not exceeding an area of 300sqm. With a rise in dog attacks on people, often resulting in serious injuries, state govt will introduce the Goa Animal Breeding and Domestication (Regulation and Compensation) Bill, 2025, to prohibit the domestication and breeding of ferocious animals and ban the import of such breeds. Govt will also introduce the Factories (Goa Amendment) Bill, 2025, seeking to increase working hours in factories from the existing 9 to 10 hours. The opposition said that govt 'declared an undeclared 'emergency' in the assembly' after speaker Ramesh Tawadkar did not allow the opposition's demand to put more questions for the question hour and have more calling-attention periods during the monsoon session. The opposition alleged that Tawadkar is in a hurry to become a minister. It had walked out of the business advisory committee (BAC) meeting to finalise the business for the monsoon session of the House.
