Amendment status not verified — confirm the current text below against the official source.
(1) Where the State Government is competent to remit any tax, cess or fee payable under any law for the time being in force, it may in the case of a Co-operakve society or class of Co-operative societies or a member of a Co-operative society remit such tax, cess or fee by general or special order. (2) (a) The State Government may, by notification, remit the stamp-duty (other than the stamp-duty falling within entry 91 or entry 96 of List 1 of the Seventh Schedule to the Constitution of India) in respect of any instrument executed by, or on behalf of, or in favour of, any Co-operative society or a class of Co-operative societies or an officer or member thereof and relating to the business of such Co-operative society or such class of Co-operative societies in cases where but for such remission such Co-operative society or class of Co-operative societies or the officer or member thereof would have been liable to pay the stamp-duty chargeable under any law for the time being in force in respect of such instrument: Provided that such remission of stamp-duty payable by any member of a Co- operative housing society in whose favour a plot of land or a house or an apartment in a building is allotted or to whom such land, house or apartment is transferred, shall be made at the rate of one per centum of the market value of such land, house or apart- ment, as the case may be: Provided further that in no case such remission, as referred to in the first proviso, shall exceed an aggregate amount of twenty thousand rupees. (b) No remission of fee for registration of any document payable by any member of a Co-operative housing society in whose favour a plot of land or a house or an apartment in a building is allotted or to whom such land, house or apartment is trans- ferred, is allowed. (3) No such remission under clause (a) or clause (b) of sub-section (2) shall be made in the case of purchase or acquisition of any house or flat already constructed or under construction from any private promoter by the persons, who subsequent to such purchase or acquisition form a housing Co-operative society or in the case of any subsequent transfer of any plot of land, house or flat of any housing Co-operative society by a member under the provision of section 88. (4) Notwithstanding anything contained in any other law for the time being in force, the State Government may, by general or special order, grant preference and exemption in respect of any Co-operative Society or class of Co-operative societies in the interest of promotion of Co-Operative movement in the state as may be prescribed.