Archive · 15 Aug 2025
Punjab Cabinet Alters Cooperative Societies Act, Removes Exemptions
The Punjab government changed a law about housing cooperatives.
Before, people who bought flats from others didn't have to pay a tax called stamp duty when registering their purchase.
This was meant to help cooperatives grow.
Now, the government has changed the rules, and people buying flats in these societies will have to pay the stamp duty when they register their properties.
This means more tax for the government.
Punjab Cabinet approved an amendment to the Punjab Cooperative Societies Act, 1961.
The amendment removes stamp duty and registration fee exemptions for certain cooperative societies.
Previously, exemptions allowed property transactions without formal registration.
This change impacts residents buying flats from original or subsequent owners.
Now, buyers must pay stamp duty when registering their property.
- Who
- The Punjab Cabinet, led by Chief Minister Bhagwant Singh Mann.
- What
- The Punjab Cabinet approved an amendment to the Punjab Cooperative Societies Act.
- When
- Thursday.
- Where
- Punjab.
- Why
- To remove stamp duty and registration fee exemptions for certain cooperative societies.
Cooperative Societies
Government
Financial impact
Cooperative Societies
Benefit from exemptions for development.
Government
Government's intention to collect stamp duty.
- Act Amended
- Punjab Cooperative Societies Act, 1961
- Change
- Removal of Stamp Duty Exemption
- Impacted Parties
- Subsequent flat buyers
- Action
- Amendment to the Act
