India

Govt. extends penalty waiver for delayed registration of title deed

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In a transfer to provide reduction to industries affected by the lockdown, the State authorities has stated that wonderful payable by them, exceeding ₹10 for delayed registration of Deposit of Title (DOT) deed, stands remitted until March 31 subsequent yr.

Official sources within the Registration Department defined {that a} doc will be registered paying the payment inside 4 months from the time it’s written. If there’s a delay, it may be registered in one other 4 months by paying a penalty. The penalty quantity differs.

With the brand new notification, industries wouldn’t have to pay the penalty if it exceeds ₹10. This is legitimate until the tip of this monetary yr. With the unfold of COVID-19, many trade homeowners are unable to get the DOT deed paperwork registered. The penalty waiver will profit them, stated the sources.

This is legitimate for functions from August 1 and functions submitted earlier however is pending with the division.

“The order only says that fine will not be collected and that is the only relaxation. There is no exemption from submission of DOT, which the industries have asked. Even in the order by the Inspector General of Registration given on July 31, there is no clarity,” stated P. Nallathambi, president of Coimbatore SIDCO Industrial Estate Manufacturers’ Association.

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