Bill aims to reduce business costs and boost economic growth in Punjab: Mundian
Chandigarh, March 28
Revenue and Rehabilitation Minister Hardip Singh Mundian has said that the Indian Stamps (Punjab Amendment) Bill 2025 passed by the Punjab Vidhan Sabha today will promote business-friendly environment in the state. This will reduce business costs and boost economic growth in Punjab.
In a press statement issued here today, Mr. Mundian said that the government led by Chief Minister Bhagwant Singh Mann has introduced the ‘the Indian Stamps (Punjab Amendment) Bill 2025’ in the Punjab Vidhan Sabha today to amend the Indian Stamp Act, 1899 to promote a business-friendly environment in the state, and the passage of the bill will bring great relief to the people of the state.
The Minister said that with the passage of this bill, if a person has already paid stamp duty on a loan and later transfers the mortgaged property to another bank or financial institution without changing the mortgage property, then no additional stamp duty will be charged, unless the new loan amount is more than the previous amount. In this case, the duty will be levied only on the additional amount.
