KARACHI, Dec 15: People who have purchased property on power of attorney can get the same registered supported with sale agreement, by paying the deficit amount with a nominal penalty of Rs10 if the documents are voluntarily produced before the collector/chief inspector of Stamps, Board of Revenue, Sindh, up to Jan 31, 2002.
This has been announced by the Sindh government to provide relief to the public on this count.
Section 27-B of the Stamp Act, 1899 provides that “where any conveyance deed executed in pursuance of a power of attorney is presented for registration, the registering authority shall before registering the deed, satisfy itself by the documentary evidence that the sale consideration has been paid to the original owner and executant of the power of attorney, otherwise the power of attorney shall be deemed to be a power given for consideration and shall unless already stamped according to Article 48 of schedule-I, be impounded and sent to the Collector for adjudication and recovery of proper duty”.
After Jan 31, the government announcement said, the facility would be withdrawn and the attorney while conveying the property, if failed to provide proof of payment of sale consideration to the original owner, such document shall be dealt with under Section 40 (1) (b), where the collector is empowered to impose penalty equal to ten times of the evaded stamp duty.
The public has been advised to avail the facility and get their properties registered and mutated in their own name to secure future for the next generation.—APP
