new Delhi. In social media, news is going viral that says that new financial year starting from 1 April 2020 has changed. Before you believe this rumor, let us tell you that it is not going to happen at all. That is, the current financial year that is from April 1 to March 31 will continue. The Finance Ministry has also confirmed this.

Actually, the government has changed the Stamp Duty Act last year. Under this, the government wanted to implement a uniform stamp duty system in the entire country for clearing agencies and depositories in the stock market. At this time, if any stock or debenture is bought and sold, stamp duty is higher in one state than it is less in another state. There is a lot of inconvenience due to different state according to calculating the same thing. Apart from this, there is also the scope of stamp duty evasion.

The government wants to rein in it and wants to bring such a uniform system in which stamp duty is applied uniformly on stock market products like share debentures etc. across the country. Its book should be such that it is deposited with the center and its share should be given to the state. The government had earlier kept the date of 9 January 2020 to implement this amendment. Later it was increased to 1 April 2020 and now due to corona it was postponed to 1 July 2020.

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