Passenger tax jumps 536 pc, stamp duty climbs 57 pc

Srinagar, Oct 10: Jammu and Kashmir’s own tax revenue has shown a strong rise over recent years, hinting at a steady improvement in the Union Territory’s financial position. The stamp duty and registration fees are witnessing one of the sharpest increases, growing by 57 per cent from Rs 325.54 crore to Rs 512.02 crore. Land revenue has nearly doubled, rising by 87 per cent from Rs 60.57 crore to Rs 113.28 crore.

According to the official data, Jammu and Kashmir’s total own tax revenue increased from Rs 8,876.99 crore in 2020–21 to Rs 11,707.28 crore in 2021–22. This has shown a growth of 31.88 per cent in a single year, hinting at higher collections across all tax segments.

A senior finance department official said that the increase is

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