KARACHI, Aug 15: The Sindh Board of Revenue (SBR) has recovered Rs32.6 million in stamp duty from the EOBI on leasing of a plot, measuring 8,986 square yards on I.I. Chundrigar Road, rejecting the latter’s request for exemption being a welfare organisation.

The Employees Old-Age Benefits Institution was informed that under the Sindh revenue laws there was no provision for granting exemption from stamp duty for any government organisation or private property.

Meanwhile, the Stamp Duty Department’s collection showed an increase of 41 per cent at Rs311.265 million during the first month (July) of the current fiscal year against Rs269.5 million collected the same month last year. It raised Rs4,188.6 million in stamp duty in 2007-08.

Chief Inspector Stamps Salahuddin Saand talking to Dawn on Friday attributed the jump in collection to streamlining enforcement measures and strict scrutiny of registration of documents to check undervaluation of properties.

The revenue collection through stamp duty on registration of documents has been seriously affected by the levy of two per cent CVT by the federal government and one per cent by various city towns.

This is in addition to the three per cent stamp duty and one per cent registration tax on registration of property transactions.

The stamp duty revenue has also been adversely affected by a condition laid down by the Karachi Building Control Authority requiring all property owners to obtain NOC from the department before entering into any deal on the property.