FICO demands immediately notification of transfer of family property without stamp duty
Author(s): City Air NewsL-R: Sh. Mohinder Goel, Sh. Rakesh Bhandari, Sh. Harinder Singh Lally, Sh. Rajat Aggarwal DC Ludhiana, Rajeev Jain Secretary FICO, Sh. Gurmeet Singh Kular president FICO. Ludhiana, July 18, 2015: A delegation of...
cityairnews
Jul 18, 2015 12:30
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L-R: Sh. Mohinder Goel, Sh. Rakesh Bhandari, Sh. Harinder Singh Lally, Sh. Rajat Aggarwal DC Ludhiana, Rajeev Jain Secretary FICO, Sh. Gurmeet Singh Kular president FICO.
Ludhiana, July 18, 2015: A delegation of Federation of Industrial and Commercial Undertakings (FICO) under the Chairmanship of S Gurmeet Singh Kular President FICO met Sh.Rajat Aggarwal, Deputy Commissioner, Ludhiana regarding transfer of property within family without stamp duty.
The delegates said about two months back the Punjab Government had announced no stamp duty on transfer of property to blood relations, since it is not a sale/ purchase transaction & there is no involvement of funds transfer so it should be exempted from stamp duty.
Delegation thanked & acknowledged the Deputy Commissioner for the joint drive initiated by the district administration with NGOs, Police, Press & DTO office to maintain the smooth traffic in the city. They also demanded the increase in speed of vehicles from 50 to 65 as 50 speed is very slow mainly on Ferozepur Road.
The delegation thanked DC for reducing Collectors Rates for sale deed for Ludhiana by 15% on Commercial & 10% on Residential & Industrial from July. The delegates requested to reduce at least 10% more because there are some areas where Collector Rates are more than the market price.
Delegation promised to adopt five entry points in Ludhiana namely from Jalandhar, Ferozepur, Malerkotla, Delhi & Chandigarh and would help in streamlining the traffic chaos by putting reflectors, billboards, signage etc to decrease the menace in these accident prone areas.
Sh.Rajeev Jain Secretary FICO, Sh. Mohinder Goel, Sh. Rakesh Bhandari and Sh. Harinder Singh Lally were included in the delegation.
Date:
Saturday, July 18, 2015
