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ABSTRACT Information Technology - IT Policy 2002 - 50% reduction of stamp duty and registration fee in respect of IT companies - Notification - Issued. COMMERCIAL TAXES (JI) DEPARTMENT
G.O.(Ms.)No.122 Dated:27.7.2004 Read:
*** ORDER In the G.O. first read above, the IT Policy 2002 of the State has been issued. It has been ordered therein, among others, that 50% exemption of the Stamp Duty and Registration Fee will be given at the time of purchase of a land/building for IT industries and that this will be conditional to the concerned company putting up the facilities to commence the operations within twelve months from the date of the transaction and the certification in this regard will be undertaken by ELCOT. 2. In the G.O.second read above, the modalities on defining IT companies for extending the concessions specified in the IT Policy 2002 have been issued. 3. With a view to giving effect to the concession of stamp duty and registration fee granted in the G.O. first read above, the Government direct that the two notifications appended to this G.O. be published in the Extraordinary issue of the Tamil Nadu Government Gazette dated 27.7.2004. The Works Manager, Government Central Press is requested to send 100 copies of the Gazette in which the notification has been published. (By Order of the Governor) S.RAJARETHINAM, Secretary to Government. To The Inspector General of Registration, Chennai-28 The Works Manager, Govt Central Press, Chennai-79 The Secretary to Government, IT Department, Chennai-9 The MD, ELCOT, Chennai-35 The DIPR, Chennai-9
Copy to: Deputy Director General, NIC, E 2A, Rajaji Bhavan, Chennai-90 The Development Commissioner and Secretary to Government, Finance Department, Chennai-9
//Forwarded/By Order// Section Officer APPENDIX. NOTIFICATION I. In exercise of the powers conferred by clause(a) of sub-section(1) of section 9 of the Indian Stamp Act, 1899 (Central Act II of 1899), the Governor of Tamil Nadu hereby reduces 50% of the duty chargeable under the said Act in respect of instruments relating to purchase of land or land and building by IT Companies / Industries, subject to the following conditions:- (a) The Building of the concerned IT Company should have feeder grid supply with adequate back up capacity; (b) The Building should have provision for Housing remote Switching Unit of a Communication Provider with redundancy. The bandwidth should not be less than 2 Mbps; (c) The IT Building should also have a satellite/Micro Wave back up data connectivity; (d) The Plot area on which such IT Building is located must be a minimum of 2000 square metres; (e) The Companies occupying the IT Building should be IT companies as defined in IT Policy 2002 of Tamil Nadu. 80% of the built up area of the IT Building should be occupied by IT/ITES units. For this purpose a registration with STPI/EOU appropriate license with Communication Provider will be adequate. For other domestic companies, ELCOT will formulate a quarterly reporting system in line with STPI reporting system or any suitable system of reporting; (f) The reduction will be applicable only for the first transaction by the IT/ITES company; (g) The time duration for setting up the IT building will be 12 months; (h) ELCOT will be the certifying authority. For the purpose of certification, the IT/ITES companies should execute undertakings in favour of Managing Director, ELCOT in the formats annexed to Government Order (MS.) No. 15, Information Technology Department, dated 21.7.2004. Based on ELCOT's certification, the Registering Officer will extend the concession. 2. The Notification hereby made shall remain in force upto and inclusive of the 31st March, 2007. S.RAJARETHINAM, Secretary to Government.
//True Copy// Section Officer NOTIFICATION II. In exercise of the powers conferred by section 78-A of the Registration Act, 1908 (Central Act XVI of 1908), the Governor of Tamil Nadu is of the opinion that it is necessary so to do in the public interest, hereby reduces 50% of the registration fee payable under the said Act in respect of instruments relating to purchase of land or land and building by IT Companies/ Industries, subject to the following conditions:- (a) The Building of the concerned IT Company concerned should have feeder grid supply with adequate back up capacity; (b) The Building should have provision for Housing remote Switching Unit of a Communication Provider with redundancy. The bandwidth should not be less than 2 Mbps; (c) The IT Building should also have a satellite/Micro Wave back up data connectivity; (d) The Plot area on which such IT Building is located must be a minimum of 2000 square metres; (e) The Companies occupying the IT Building should be IT companies as defined in IT Policy 2002 of Tamil Nadu. 80% of the built up area of the IT Building should be occupied by IT/ITES units. For this purpose a registration with STPI/EOU appropriate license with Communication Provider will be adequate. For other domestic companies, ELCOT will formulate a quarterly reporting system in line with STPI reporting system or any suitable system of reporting; (f) The reduction will be applicable only for the first transaction by the IT/ITES company; (g) The time duration for setting up the IT building will be 12 months. (h) ELCOT will be the certifying authority. For the purpose of certification, the IT/ITES companies should execute undertakings in favour of Managing Director, ELCOT in the formats annexed to Government Order (Ms.) No.15, Information Technology Department, dated 21.7.2004. Based on ELCOT's certification, the Registering Officer will extend the concession 2. The Notification hereby made shall remain in force upto and inclusive of the 31st March 2007. S.RAJARETHINAM, Secretary to Government. //True Copy// Section Officer |
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