INDIAN STAMP ACT, 1899 (DELHI AMENDMENT)

SCHEDULE I-A

Description of Instrument

Proper Stamp-duty

1 .

ACKNOWLEDGEMENT of a debt exceeding twenty rupees in amount or value, written or signed by, or on behalf, a debtor in order to supply evidence of such debt in any book (other than a banker's pass book) or on a separate piece of paper when such book or paper is left in the creditor's possession:

One rupee

PROVIDED that such acknowledgement does not contain any promise to pay the debt or any stipulation to pay interest or to deliver any goods or other property.

2.

ADMINISTRATION BOND, including a bond given under section 6 of the Government Savings Bank Act, 1873, or sections 291, 375 and 376 of the Indian Succession Act, 1925

(a) where the amount does not exceed Rs. 1,000

The same duty as a Bond (No. 15) for such amount

(b) in any other case

One hundred rupees

3.

ADOPTION DEED, that is to say, any instrument (other than a Will), recording an adoption, or conferring or purporting to confer an authority to adopt.

Fifty rupees

ADVOCATE see Entry as an Advocate(No. 30)

4.

AFFIDAVIT, including an affirmation or declaration in the case of persons by law allowed to affirm or declare instead of swearing.

Ten rupees

Exemption

Affidavit or declaration in writing when made--

(a) as a condition of enrolment under the Army Act, 1950; or Air Force Act, 1950;

(b) for the immediate purpose of being filed or used in any court or before the officer of any court; or

(c) for the sole purpose of enabling any person to receive any pension or charitable allowance.

5.

AGREEMENT OR MEMORANDUM OF AN AGREEMENT

(a) if relating to the sale of a bill of exchange;

One rupee for every Rs. 10,000 or part thereof

(b) if relating to the sale of a government security or share in an incorporated company or other body corporate;

One rupee for every Rs. 10,000 or part thereof of the value of the security or share subject to a maximum of Rs. 1,000.

(c) if not otherwise provided for;

Fifty rupees

Exemption

Agreement or memorandum of agreement--

(a) for or relating to the sale of goods or merchandise exclusively, not being a Note or Memorandum chargeable under No.43;

(b) made in the form of tenders to the Central Government for or relating to any loan.

6.

AGREEMENT TO LEASE, See lease (No. 35) Agreement relating to Deposit of Title Deeds, Pawn or Pledge that is to say, any instrument evidencing an agreement relating to--

(1) the deposit of title-deeds or instruments constituting or being evidence of the title to any property whatever (other than a marketable security), or

(2) the pawn or pledge of moveable property, where such deposit, pawn or pledge has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt--

(a) if such loan or debt is repayable on demand or more than three months from the date of instrument evidencing the agreement

0.5 per cent of the amount secured by such deed subject to a maximum of fifty thousand rupees

(b) If such loan or debt is repayable in not more than three months from the date of such instrument.

Half the duty payable under sub-clause (a).

Exemption

Instrument of pawn or pledge of goods if unattested

7.

APPOINTMENT IN EXECUTION OF A POWER, whether of trustees or of property, movable or, immovable, where made by any writing not being a Will

One hundred rupees

8.

APPRAISEMENT OR VALUATION, made otherwise than under an order of the court in the course of a suit;--

(a) where the amount does not exceed Rs.1,000

The same duty as a Bottomry Bond (No. 16) for such amount

(b) in any other case

Fifty rupees.

Exemptions

(a) Appraisement or valuation made for the information of one party only, and not being in any manner obligatory between parties either by agreement or operation of law.

(b) Appraisement of crops for the purpose of ascertaining the amount to be given to a landlord as rent

9.

APPRENTICESHIP DEED, including every writing relating to the service or tuition of any apprentice, clerk or servant placed with any master to learn any profession, trade or employment, not being articles of clerkship (No. 11)

Ten rupees

Exemption

Instrument of apprenticeship executed by a Magistrate under the Apprentices Act, 1950, or by which a person is apprenticed by, or at the charge of, any public charity.

10.

ARTICLES OF ASSOCIATION OF A COMPANY

[32][(a) When the authorised capital of the Company doesn't exceed rupees one lakh;

0.15% of the Authorised share capital

(b) In other cases;

 0.15% of the Authorised share capital with a monetary ceiling of rupees twenty-five lakhs.

(c) When the Authorised share capital is increased.

0.15% of the increase in Authorised share capital with a monetary ceiling of rupees twenty-five lakhs.]

Exemption

Articles of any Association not formed for profit and registered under section 25 of the Companies Act, 1956

Memorandum of Association of a Company (No. 39)

11

ARTICLES OF CLERKSHIP or contract where by any person first becomes bound to serve as a clerk in order to his admission as an attorney in any High Court

Four hundred rupees

ASSIGNMENT--See conveyance (No. 23), Transfer No. 62 and Transfer of Lease (No. 63), as the case may be

ATTORNEY--See entry as an Attorney (No. 30), and power of Attorney (No. 48)

AUTHORITY TO ADOPT--See Adoption Deed (No. 3)

12.

AWARD, that is to say, any decision in writing by an arbitrator or umpire, not being an award directing a partition on a reference made otherwise than by an order of the court in the course of a suit--

(a) where the amount or value of the property to which the award relates as set forth in such award, does not exceed Rs. 1,000;

The same duty as a Bond (No. 15) for such amount

(b) if it exceeds Rs. 1,000 but does not exceed Rs. 5,000, 

and for every additional Rs. 1,000 or part thereof in excess of Rs. 5,000

One rupee for every one thousand rupees or part thereof of the value of the property to which the award relates

13.

BILL OF EXCHANGE, as defined by section 2(2) not being a BOND, bank note or currency note:--

(a) Where payable otherwise than on demand--

(i) where payable in not more than three months after date or sight--

if the amount of the bill or note does not exceed Rs. 500

[33][one rupee twenty-five paise]

if it exceeds Rs. 500 but does not exceed Rs. 1,000

[34][Two rupees fifty paise]

and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000

[35][Two rupees fifty paise]

(ii) where payable in more than three months but not more than six months after date or sight--

if the amount of the bill or note does not exceed Rs. 500

[36][Two rupees fifty paise]

if it exceeds Rs. 500 but does not exceed Rs.1,000

[37][Five rupees]

and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000

[38][Five rupees]

(iii) where payable in more than six months but not more than nine months after date or sight--

if the amount of the bill or note does not exceed Rs. 500

[39][Three rupees seventy-five paise]

if it exceeds Rs. 500 but does not exceed Rs. 1,000

[40][Seven rupees fifty paise]

and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000

[41][Seven rupees fifty paise]

(iv) where payable in more than nine months but not more than one year after date or sight--

if the amount of the bill or note does not exceed Rs. 500

[42][Five rupees]

if it exceeds Rs. 500 but does not exceed Rs.1,000

[43][Ten rupees]

and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000

[44][Ten rupees]

(v) where payable in more than one year after date or sight--

if the amount of the bill or note does not exceed Rs. 500

[45][Ten rupees]

if it exceeds Rs. 500 but does not exceed Rs.1,000

[46][Twenty rupees]

and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000

[47][Twenty rupees]

14.

BILL OF LADING (including a through bill of lading)

[48][Two rupees]

NB : If a bill of lading is drawn in parts, the proper stamp therefore must be borne by each one of the set

Exemptions

(a) Bill of lading when the goods therein described are received at a place within the limits of any port as defined under the Indian Ports Act, 1889, and are to be

delivered at another place within the limits of the same port.

(b) Bill of lading when executed out of India,

15.

BOND as defined by section 2(5), not being a DEBENTURE (No. 27), and not being otherwise-- 

Provided for by this Act, or by the Court Fees Act, 1870.

2% and 0.5% on bond issued by the local authority

See Administration Bond (No. 2) Bottomry Bond (No. 16), Customs Bond (No. 26), Indemnity Bond (No. 34) Respondentia Bond (No. 56), Security Bond (No. 57).

Exemption

Bond when executed by any person for the purpose of guaranteeing that the local income derived from the private subscription to a charitable dispensary or hospital or to any other object of public utility, shall not be less than a specified sum per mensem.

16.

BOTTOMRY BOND, that is to say, any instrument whereby the master of a seagoing ship borrows on a security of the ship to enable him to preserve the ship or prosecute her voyage

The same duty as a Bond No. 15 for the same amount

17.

CANCELLATION--Instrument of (including any instrument by which any instrument previously executed is cancelled), if attested and not otherwise provided for.

One hundred rupees

See also Release (No. 55), Revocation of Settlement (No. 58B), Surrender of Lease (No. 61), Revocation of Trust (No. 64B).

18.

CERTIFICATE OF SALE (in respect of each property put up as a separate lot and sold), conveyance duty as to the purchaser of any property sold by public auction by a civil of revenue court, or Collector or other revenue officer

The same duty[49] as conveyance (No. 23)[50] for a consideration equal to the amount of the purchase money only.

19.

CERTIFICATE OR OTHER DOCUMENT, evidencing the right or title of the holder thereof, or any other person, either to any shares, scrip or stock in or of any incorporated company or other body corporate or to become proprietor of shares, scrip or stock in or of any such company or body. See also LETTER OF ALLOTMENT OF SHARES (No. 36)

One rupee for every one thousand or a part thereof of the value of the shares, scrip or stock

20.

CHARTER PARTY, that is to say, any instrument (except an agreement for the hire of a tug steamer), whereby a vessel or some specified principal part thereof is let for the specified purposes of the charter, whether it includes a penalty clause or not

Fifty rupees

20A.

CHIT AGREEMENT, that is an agreement relating to a chit as defined in clause (2) of section 2 of the Madras Chit Funds Act, 1961, as extended to the Union Territory of Delhi[51] ,if either such agreement is executed or the chit is conducted in the Union Territory of Delhi[52]

Five rupees

22.

COMPOSITION-DEED, that is to say, any instrument executed by a debtor whereby he conveys his property for the benefit of his creditors, or whereby payment of a composition or dividend on their debts is secured to the creditors or whereby provision is made for the continuance of the debtor's business under the supervision of inspectors or under letters of licence for the benefit of his creditors

One hundred rupees

[53][23

CONVEYANCE as defined by section 2(10) not being a transfer charged or exempted under No. 62 --

Three per cent of the consideration amount set forth in the Instrument.

Further reduced to two per cent in respect of individually/jointly held immovable property by woman/women:

Provided that in case of jointly held immovable property, the reduced rate of stamp duty shall apply only to the share(s) held by woman/women] 

Exemption

Assignment of copyright under the Copyright Act, 1957, section 18 CO-PARTNERSHIP-DEED --See Partnership (No. 46).

[54][23A.

CONVEYANCE IN THE NATURE OF PART PERFORMANCE Contracts for the transfer of immovable property in the nature of part performance in any union territory under section 53A of the Transfer of property Act, 1882 (4 of 1882.)]

Ninety per cent of the duty as a Conveyance (No. 23).][55]

24.

COPY OR EXTRACT, certified to be true copy or extract, by or by order of any public officer and not chargeable under the law for the time being in force relating to court fees--

(i) if the original was not chargeable with duty or if the duty with which it was chargeable does not exceed two rupees

Ten rupees

(ii) in any other case not falling within the provisions of section 6-A

Ten rupees

Exemptions

(a) Copy of any paper which a public officer is expressly required by law to make or furnish for record in any public office or for any public purpose.

(b) Copy of, or extract from, any register relating to births, baptisms, namings, dedications, marriages, divorces, deaths or burials.

25.

COUNTERPART OR DUPLICATE of any instrument chargeable with duty in respect of which the proper duty has been paid--

(a) the duty with which the original instrument is chargeable does not exceed two rupees

Ten rupees

(b) in any other case not falling within the provisions of section 6-A.

Ten rupees

Exemption

Counterpart of any lease granted to a cultivator, when such lease is exempted from duty

26

CUSTOMS-BOND

(a) where the amount does not exceed Rs. 1,000

The same duty as a Bond (No. 15) for such amount

(b) in any other case

One hundred rupees

27

DEBENTURE (whether a mortgage debenture or not), being a marketable security transferable--

(a) by endorsement or by a separate instrument of transfer

where the amount or value does not exceed Rs. 10

[56][Twenty paise]

where it exceeds Rs. 10 and does not. exceed Rs. 50

[57][Forty paise]

where it exceeds Rs. 50 but does not exceed Rs. 100

[58][Seventy five paise]

where it exceeds Rs 100 but does not exceed Rs. 200

[59][One rupee fifty paise]

where it exceeds Rs. 200 but does not exceed Rs. 300;

[60][Two rupees twenty five paise]

where it exceeds Rs. 300 but does not exceed Rs. 400;

[61][Three rupees]

where it exceeds Rs. 400 but does not exceed Rs: 500;

[62][Three rupees seventy five paise]

where it exceeds Rs. 500 but does not exceed Rs. 600;

[63][Four rupees fifty paise]

where it exceeds Rs. 600 but does not exceed Rs. 700;

[64][Five rupees twenty five paise]

where it exceeds Rs. 700 but does not exceed Rs. 800;

[65][Six rupees]

where it exceeds Rs. 800 but does not exceed Rs. 900;

[66][Six rupees seventy five paise]

where it exceeds Rs. 900 but does not exceed Rs. 1,000;

[67][Seven rupees fifty paise]

and for every Rs. 500 or part thereof in excess of Rs. 1,000.

[68][Three rupees seventy five paise]

(b) by delivery

where the amount or value of the consideration for such debenture as set forth therein does not exceed Rs. 50

[69][seventy five paise]

where it exceeds Rs. 50 but does not exceed Rs. 100

[70][One rupee fifty paise]

where it exceeds Rs 100 but does not exceed Rs. 200

[71][Three rupees]

where it exceeds Rs. 200 but does not exceed Rs. 300

[72][Four rupees fifty paise]

where it exceeds Rs. 300 but does not exceed Rs. 400

[73][Six rupees]

where it exceeds Rs. 400 but does not exceed Rs. 500

[74][Seven rupees fifty paise[

where it exceeds Rs. 500 but does not exceed Rs. 600

[75][Nine rupees]

where it exceeds Rs. 600 but does not exceed Rs. 700

[76][Ten rupees fifty paise]

where it exceeds Rs. 700 but does not exceed Rs. 800

[77][Twelve rupees]

where it exceeds Rs. 800 but does not exceed Rs. 900

[78][Thirteen rupees fifty paise]

where it exceeds Rs. 900 but does not exceed Rs. 1,000

[79][Fifteen rupees]

and for every Rs. 500 or part thereof in excess of Rs. 1,000

[80][Seven rupees fifty paise]

Explanation : The term "Debenture" includes any interest coupons attached thereto, but the amount of such coupons shall not be included in estimating the duty.

Exemption

A debenture issued by an incorporated company or other body corporate in terms of a registered mortgage-deed, duly stamped in respect of the full amount of debentures to be issued thereunder, whereby the company or body borrowing makes over, in whole or in part, their property to trustees for the benefit of the debenture-holders:

Provided that the debentures so issued are expressed to be issued in terms of the said mortgage deed.

28.

DELIVERY ORDER IN RESPECT OF GOODS that is to say, any instrument entitling any person therein named, or his assigns or the holder thereof, to the delivery of any goods laying in any dock or port, or in any warehouse in which goods are stored or deposited on rent or hire, or upon any wharf, such instrument being signed by or on behalf of the owner of such goods, upon the sale or transfer of the property therein, when such goods exceed twenty rupees in value.

One rupee

DEPOSIT OF TITLE DEEDS--See AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN OR PLEDGE (No. 6)

DISSOLUTION OF PARTNERSHIP--See PARTNERSHIP (No. 46).

29.

DIVORCE Instrument of--that is to say any instrument by which any person effects the dissolution of his marriage

One hundred rupees

DUPLICATE see Counterpart (No. 25)

30.

ENTRY AS AN ADVOCATE, VAKIL OR ATTORNEY ON THE ROLL OF THE HIGH COURT (Under the Indian Bar Councils Act, 1926, or in exercise of powers conferred on such court by Letters Patent or by the Legal Practitioners Act, 1884)--

(a) in the case of an advocate or vakil

Five hundred rupees

(b) in the case of an Attorney

Five hundred rupees

Exemption

Entry of an Advocate, Vakil or Attorney on the roll of the High Court, when he has previously been enrolled in any other High Court

31.

EXCHANGE OF PROPERTY, instrument of--

The same duty[81] as conveyance (No. 23)[82] as levied by this Act for a consideration equal to the greatest value of the property as set forth in such instrument.

EXTRACT--See Copy (No. 24}

32.

FURTHER CHARGE, Instrument of, that is to say, any instrument imposing a further charge on mortgage property--

(a) when the original mortgage is one of the description referred to in clause (a) of Article No. 40 that is, with possession;

The same duty[83] as a conveyance (No. 23)[84] for the value equal to the amount of further charge secured by such instrument.

(b) when such mortgage is one of the description referred to in clause (b) of Article No. 40 (that is, without possession)--

(i) if at the time of execution of the instrument of further charge, possession of the property is given or agreed to be given under such instrument;

The same duty[85] as conveyance (No. 23)[86] for a value equal to the total amount of the charge (including the original mortgage and any further charge already made) less the duty already paid on such original mortgage and further charge.

(ii) if possession is not so given.

The same duty as a Bond (No. 15) for the amount of the further charge by such instrument, subject to a maximum of rupees two lakhs.

33.

GIFT--Instrument of, not being a settlement (No. 58), or Will or Transfer (No. 62)

The same duty[87] as conveyance (No. 23)[88] as the value of the property.

HIRING AGREEMENT or agreement for service--(see Agreement (No. 5).

34.

INDEMNITY BOND

The same duty as Security Bond (No. 57) for the same amount.

INSPECTORSHIP-DEED--See Composition Deed (No. 22)

35.

LEASE, including an under-lease or sub-lease and any agreement to let or sub-let--

(a) where by such lease the rent is fixed and no premium is paid or delivered--

(i) where the lease purports to be for a term of less than one year;

The same duty as a Bond (No. 15) for the whole amount payable or deliverable under such lease.

(ii) where the lease purports to be for a term of not less than one year, but not more than five years;

The same duty as a Bond (No. 15) for the amount or value of the average annual rent received.

(iii) where the lease purports to be for a term exceeding five years and not exceeding ten years;

The same duty[89] as a Conveyance (No. 23)[90] as levied by this Act, for a consideration equal to the amount or value of the average annual rent received.

(iv) where the lease purports to be for a term exceeding ten years but not exceeding twenty years;

The same duty[91] as a Conveyance (No. 23)[92] as levied by this Act, for a consideration equal to twice the amount or value of the average annual rent received.

(v) where the lease purports to be for a term exceeding twenty years, but not exceeding thirty years;

The same duty[93] as a Conveyance (No. 23)[94] as levied by this Act, for a consideration equal to three times the amount or value of the average annual rent received.

(vi) where the lease purports to be for a term exceeding thirty years but not exceeding hundred years;

The same duty[95] as a Conveyance (No. 23)[96] as levied by this Act, for a consideration equal to four times the amount or value of the average annual rent received.

(vii) where the lease purport to be for a term exceeding hundred years or in perpetuity;

The same duty[97] as Conveyance (No. 23)[98]

(viii) where the lease does not purport to be for any definite term;

The same duty[99] as Conveyance (No. 23)[100] as levied by this Act, for a consideration equal to three times the amount or value of the average annual rent which would be paid or delivered for the first ten years if the lease continued so long.

(b) where lease is granted for a fine or premium or for money advanced and where no rent is reserved.

The same duty[101] as Conveyance (No. 23)[102] as levied by this Act, for a consideration equal to the amount or value of such fine or premium or advance as set forth in the lease.

(c) where the lease is granted for a fine or premium or for money advanced, in addition to rent reserved

The same duty[103] as a Conveyance (No. 23)[104] as levied by this Act, for a consideration equal to the amount or value or such fine or premium or advance as set forth in the lease, in addition to the duty which would have been payable on such lease, if no fine or premium or advance had been paid or delivered.

Exemption

Lease, executed in the case of cultivator and for the purposes of cultivation (including a lease of trees for the production of food or drink) without the payment or delivery of any fine or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees.

In this exemption a lease for the purposes of cultivation shall include a lease of lands for cultivation together with a homestead or tank

Explanation : When a lessee undertakes to pay any recurring charge, such as government revenue, the landlord's shares of cesses, or the owner's share of municipal rates or taxes, which is by law recoverable from the less or, the amount so agreed to be paid by the lessee, shall be deemed to be part of the rent.

36

LETTER OF ALLOTMENT OF SHARES in any company or proposed company, or in respect of any loan to be raised by any company or proposed company.

One rupee

See also CERTIFICATE OR OTHER DOCUMENT (No. 19)

37.

LETTER OF CREDIT, that is to say any instrument by which one person authorizes another to give credit to the person in whose favour it is drawn.

[105][Two rupee]

LETTER OF GUARANTEE--See Agreement (No. 5)

38.

LETTER OF LICENCE, this is to say any agreement between a debtor and his creditors that the latter shall, for a specified time, suspend their claims and allow the debtor to carry on business at his own discretion

One hundred rupees

39.

MEMORANDUM OF ASSOCIATION OF A COMPANY--

(a) if accompanied by articles of association under sections 26, 27 and 28 of the Companies Act, 1956

Two hundred rupees

(b) if not so accompanied

Five hundred rupees

Exemption

Memorandum of any Association not formed for profit and registered under section 25 of the Companies Act, 1956

40.

MORTGAGE-DEED, not being an agreement relating to Deposit of the Title deeds, Pawn or Pledge (No. 6), Bottomry Bond (No. 16), Mortgage of a Crop (No. 41), Respondentia Bond (No. 56), or Security Bond (No. 57)--

(a) when possession of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given--

Same duty[106] as conveyance deed No. 23[107]

(b) when possession is not given or agreed to be given as aforesaid

2 per cent with a monetary ceiling of Rs. 2 lacs.

Explanation : A mortgagor who gives to the mortgagee a power of attorney to collect rents or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article.

(c) when a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above mentioned purposes where the principal or primary security is duly stamped--

For every sum secured not exceeding Rs. 1,000 or part thereof;

Two rupees

and for every Rs. 1,000 or part thereof secured in excess of Rs. 1,000

Two rupees per thousand or part thereof

Exemptions

(1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883, or the Agriculturists' Loans Act, 1884, or by their sureties as security for the repayment of such advances.

(2) Letter of hypothecation accompanying a bill of exchange

41.

MORTGAGE OF A CROP, including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop, whether the crop is or is not in existence at the time of the mortgage:--

(a) when the loan is repayable in not more than three months from the date of the instrument--

for every sum secured not exceeding Rs. 200;

One rupee for Rs. 200 and part thereof

and for every Rs. 200 or part thereof secured in excess of Rs. 200;

One rupee for Rs. 200 and part thereof

(b) when the loan is repayable in more than three months, but not more than eighteen months, from date of the instrument--

for every sum secured not exceeding Rs. 100

One rupee

and for every Rs. 100 or part thereof secured in excess of Rs. 100

One rupee for rupees one hundred and part thereof

42.

NOTARIAL ACT, that is to say, any instrument, endorsement, note, attestation certificate or entry not being a Protest (No. 50) made or signed by Notary Public in the execution of the duties of his office, or by any other persons lawfully acting as a Notary Public

Five rupees

See also Protest of Bill or Note (No. 50)

43.

NOTE OR MEMORANDUM, sent by a broker or agent to his principal intimating the purchase or sale on account of such principal--

(a) of any goods, exceeding twenty rupees in value;

One rupee

(b) of any stock or marketable security exceeding twenty rupees in value

One rupee for every Rs. 10,000 or part thereof, of the value of security at the time of its purchase or sale, as the case may be.

44.

NOTES OF PROTEST BY THE MASTER OF A SHIP

Ten rupees

45.

PARTITION, Instrument of, as defined by section 2(15)

The same duty as a Bond (No. 15) for the amount of the value of the separated share or shares of the property.

NB:--The largest share remaining after the property is partitioned or, if there are two or more shares of equal value and not smaller than any of the other shares then one of such equal shares shall be deemed to be that from which the other shares are separated:

PROVIDED always that--

(a) when an instrument of partition containing an agreement to divide property in severally is executed and a partition is effected in pursuance of such agreement, the duty chargeable upon the instrument effecting such partition shall be reduced by the amount of duty paid in respect of the first instrument, but shall not be less than ten rupees.

(b) where the instrument relates to the partition of agriculture land exclusively the market value for the purpose of duty shall be calculated at fifty times the annual land revenue

(c) where a final order for affecting a partition passed by any revenue authority or any civil court, or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and such instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not exceed ten rupees.

46.

PARTNERSHIP--

A--Instrument of--

(a) where the capital of the partnership does not exceed Rs. 500;

One per cent with a ceiling of Rs. 200.

(b) in any other case.

One per cent with a ceiling of Rs. 5,000

B--Dissolution of--

Pawn or Pledge--See agreement relating to Deposit of Title Deeds, Pawn or Pledge (No. 6)

Two hundred rupees

47.

POLICY OF INSURANCE--

A--SEA-INSURANCE (See section 7)--

If drawn singly

If drawn in duplicate for each part

(1) for or upon any voyage--

(i) where the premium or consideration does not exceed the rate of one-eighth per centum of the amount insured by the policy

[108][Ten paise]

Five paise

(ii) in any other case, in respect of every full sum of one thousand five hundred rupees and also any fractional part of one thousand five hundred rupees insured by the policy

[109][Ten paise]

Five paise

(2) for time--

(iii) in respect of every full sum of one thousand rupees and also any fractional part of one thousand rupees insured by the policy--

where the insurance shall be made for any time not exceeding six months

[110][Fifteen paise]

[111][Ten paise]

where the insurance shall be made for any time exceeding six months and not exceeding twelve months

[112][Twenty five paise]

[113][Fifteen paise]

B. FIRE-INSURANCE AND OTHER CLASSES OF INSURANCE, NOT ELSEWHERE INCLUDED IN THIS ARTICLE COVERING GOODS, MERCHANDISE PERSONAL EFFECTS, CROPS, AND OTHER PROPERTY AGAINST LOSS OR DAMAGE--

(1 ) in respect of an original policy--

(i) when the sum insured does not exceed Rs. 5,000;

[114][Fifty paise]

(ii) in any other case; and

[115][One rupee]

(2) in respect of each receipt for any payment of a premium on any renewal of an original policy

One-half of the duty payable in respect of the original policy in addition to the amount, if any chargeable under No. 53

C--ACCIDENT AND SICKNESS INSURANCE--

(a) against Railway accident, valid for a single journey only

[116][Ten paise]

Exemption

When issued to a passenger travelling by the Intermediate or the Third Class in any Railway

(b) in any other case--for the maximum amount which may become payable in the case of any single accident or sickness where such amount does not exceed Rs. 1,000, and also where such amount exceeds Rs. 1,000 for every Rs. 1,000 or part thereof.

[117][Fifteen paise]

Provided that, in case of a policy of insurance against death by accident when the annual premium payable does not exceed Rs. 2.50 per Rs. 1,000, the duty on such instrument shall be [118][ten paise] for every Rs. 1,000 or part thereof of the maximum amount which may become payable under it.

CC--INSURANCE BY WAY OF INDEMNITY against liability to pay damage on account of accidents to workmen employed by or under the insurer or against liability to pay compensation under the Workmen's Compensation Act, 1923, for every Rs. 100 or part thereof payable as premium

[119][Ten paise]

D--LIFE INSURANCE OR GROUP INSURANCE OR OTHER INSURANCE NOT SPECIFICALLY PROVIDED FOR, except such a RE-INSURANCE as is described in Division E of this article--

If drawn singly

If drawn in duplicate for each part

(i) for every sum insured for exceeding Rs. 250

[120][Fifteen paise]

[121][Ten paise]

(ii) for every sum insured exceeding Rs. 250 but not exceeding Rs. 500

[122][Twenty five paise]

[123][Fifteen paise]

(iii) for every sum insured exceeding Rs. 500 but not exceeding Rs. 1,000 and also for every Rs. 1,000 or part thereof in excess of Rs. 1,000

[124][Forty paise]

[125][Twenty paise]

Exemption

Policies of life-insurance granted by the Director General of Post Offices in accordance with rules for Postal Life Insurance issued under the authority of the Central Government

NB: If a policy of Group Insurance is renewed or otherwise modified where by the sum insured exceeds the sum previously insured on which stamp duty has been paid, the proper stamp must be borne on the excess sum so insured.

E--REINSURANCE BY AN INSURANCE COMPANY, which has granted a POLICY of the nature specified in Division A or Division B or of this Article, with another Company by way of indemnity of guarantee against the payment on the original insurance of a certain part of the sum insured thereby

One-quarter of the duty payable in respect of the original insurance but not less than Ten paise or more than One rupee.

Provided that if the total amount of duty payable is not a multiple of five paise, the total amount shall be rounded off to the next higher multiple of five paise

General Exemption

Letter of cover or engagement to issue a policy of insurance:

Provided that, unless such letter or engagement bears the stamp prescribed by this Act for such policy, nothing shall be claimable thereunder, not shall it be available for any purpose, except to compel the delivery of the policy therein mentioned.

48

POWER OF ATTORNEY (as defined by section 2(21) not being a proxy (No. 52)

(a) when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents;

Twenty rupees

(b) when required in suits or proceedings under the Presidency Small Cause Courts Act, 1882;

Twenty rupees

(c) when authorising one person or more to act in a single transaction other than the case mentioned in clause (a);

Fifty rupees

(d) when authorising not more than five persons to act jointly and severally in more than one transaction or generally;

Fifty rupees

(e) when authorising more than five but not more than ten persons to act jointly and severally in more than one transaction or generally;

Fifty rupees

(f) when given for consideration and authorising the attorney to sell any immovable property;

The same duty[126] as a Conveyance (No. 23)[127] as levied by this Act for the amount of consideration.

(g) in any other case.

Fifty rupees for each person authorised

Explanation : For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person.

NB : The term "registration" includes every operation incidental to registration under the Indian Registration Act, 1908

49.

PROMISSORY NOTE (as defined by section 2(22)--

(a) when payable on demand--

(i) when the amount or value does not exceed Rs. 250

[128][Ten paise]

(ii) when the amount or value exceeds Rs. 250 but does not exceed Rs. 1,000;

[129][Fifteen paise]

(iii) in any other case

[130][Twenty-five paise]

(b) when payable otherwise than on demand

The same duty as a Bill of Exchange (No. 13) for the same amount payable otherwise than on demand

50.

PROTEST OF BILL OR NOTE, that is to say, any declaration in writing made by a Notary Public, or other person lawfully acting as such, attesting the dishonour of a Bill of Exchange or promissory note.

Ten rupees

51.

PROTEST BY THE MASTER OF A SHIP, that is to say, any declaration of the particulars of her voyage drawn up by him with a view to the adjustment of losses or the calculation of averages, and every declaration in writing made by him against the charterers or the consignees for not loading or unloading the ship, when such declaration is attested or certified by a Notary Public or other person lawfully acting as such.--(See also NOTE OF PROTEST BY THE MASTER OF A SHIP (No. 44)

Ten rupees

52.

PROXY empowering any person to vote at any one election of the members of a district or local board or of a body of municipal commissioners, or at any one meeting of (a) members of an incorporated company or other body corporate whose stock, or funds is or are divided into shares and transferable, (b) a local authority, or (c) proprietors, members or contributors to the funds of any institution.

[131][Thirty paise]

53.

RECEIPT (as defined by section 2(23} for any money or to other property the amount or value of which exceeds [132][five thousand rupees.]

One rupee

Exemptions

Receipt--

(a) endorsed on or contained in any instrument duly stamped, or any instrument exempted under the proviso to section 3 (instruments executed on behalf of the government) or any cheque or bill of exchange payable on demand acknowledging the receipt of the consideration money therein expressed, or the receipt of any principal money, interest or annuity or other periodical payment thereby secured;

(b) for any payment of money without consideration;

(c) for any payment of rent by a cultivator on account of land assessed to government revenue, or (in the States of Madras, Bombay and Andhra as they existed immediately before the 1st November, 1956) of Inam lands;

(d) for pay or allowance by noncommissioned or petty officers soldiers, sailors or airmen of the Indian military, naval or air forces when serving in such capacity, or by mounted police constables;

(e) given by holders of family-certificates in cases where the persons from whose pay or allowances the sum comprised in the receipt has been assigned is a noncommissioned or petty officer, soldier, sailor or airman of any of the said forces, and serving in such capacity;

(f) for pensions or allowances by persons receiving such pensions or allowances in respect of their service as such noncommissioned or petty officers, soldiers, sailors or airmen, and not serving the government in any other capacity;

(g) given by a headman or lamb radar for land revenue or taxes collected by him;

(h) given for money or securities for money deposited in the hands of any bankers, to be accounted for:

Provided that the same is not expressed to be received of, or by the hands of, any other than the person to whom the same is to be accounted for:

Provided also that this exemption shall not extend to a receipt or acknowledgement for any sum paid or deposited for or upon a letter of allotment of a share, or in respect of a call upon any scrip or share of, or in, any incorporated company or other body corporate or such proposed or intended company or body or in respect of a debenture being a marketable security--(See also POLICY OF INSURANCE (No. 47B (2))

54.

RECONVEYANCE OF MORTGAGED PROPERTY--

(a) If the consideration for which the property was mortgaged does not exceed Rs. 1,000;

Same duty[133] as a Conveyance (No. 23)[134] as levied by this Act for the amount of such consideration as set forth in the re-conveyance.

(b) in any other case--

(i) if the re-conveyance relates to immovable property situate within a municipality, cantonment board, or notified area;

One hundred rupees

(ii) in other cases

One hundred rupees

[135][54A.

Record of Transaction (electronics or otherwise) effected by a trading member thought the association or stock exchange referred to in clause (1) and clause (27) respectively of section 2?

(a) if relating to sale and purchase of Government securities,

Fifty rupees for every rupees one crore or part thereof the value of security,

(b) if relating to purchase or sale of securities, other than those falling under item (a) above?

(i) in case of delivery,

One rupee for every rupees 10, 000 or part thereof,

(ii) in case of non-delivery,

Twenty paise for every rupees 10, 000 or part thereof,

(c) if relating to futures and options trading,

Twenty paise for every rupees 10,000 or part thereof,

(d) if relating to forward contracts of commodities traded through an association or otherwise.

One rupee for every rupees 1,00,000 or part thereof.

Explanation I.?Any duty paid under this Article shall be adjusted towards the duty chargeable if any, under Article 5, 19, 36, 432 or 59, as the case may be.

Explanation II.? For the purpose of clause (b) securities shall have the same meaning as defined by the Securities Contracts (Regulations) Act, 1956 (42 of 1956).

Explanation III.? notwithstanding anything contained in this Act or any other law for the time being in force, securities dealt in depository shall not be liable to stamp duty as exempted vide clause (c) of section 8A of the Indian stamp Act, 1899.]

55.

RELEASE, that is to say, any instrument (not being such a release as is provided for by section 23(a) whereby a person renounces a claim upon another person or against any specified property--

(a) if the amount or value of the claim does not exceed Rs. 1,000

The same duty as Bond (No. 15) for such amount or value as set forth in the Release.

(b) in any other case

One hundred rupees

56

RESPONDENTIA BOND, that is to say, any instrument securing a loan on the cargo laden or to be laden on board a ship and making repayment contingent on the arrival of the cargo at the port of destination

The same duty as Bottomry Bond (No. 16) for the amount of the loan secured

REVOCATION OF ANY TRUST OR SETTLEMENT--See Settlement (No. 58) Trust (No. 64)

57.

SECURITY BOND OR MORTGAGE DEED, executed by way of security for the due execution of an office, or to account for money or other property received by virtue thereof, or executed by a surety to secure the due performance of a contract

(a) when the amount secured does not exceed Rs. 1,000

The same duty as a Bond (No. 15) for the amount secured

(b) in other case

One hundred rupees

Exemptions

Bond or other instrument, when executed--

(a) by any person for the purpose of guaranteeing that the local income derived from private subscription to a charitable dispensary or hospital or any other object of public utility, shall not be less than a specified sum per mensem;

(b) by person taking advances, under the Land Improvement Loans Act, 1883, or the Agriculturists Loans Act, 1884, or by their sureties as security for the repayment of such advances;

(c) by officers of government or their sureties to secure the due execution of an office, or the due accounting for money or other property received by virtue thereof.

58.

SETTLEMENT--

A.--Instrument of--(including a deed of dower)

The same duty as a Bond (No. 15) for a sum equal to the amount or value of the property settled as set forth in such settlement

Exemption

Deed of dower executed on the occasion of a marriage between Muhammadans

B.--Revocation of--

The same duty as Bond (No. 15) for a sum equal to the amount or value of the property concerned as set forth in the instrument of revocation, but not exceeding One hundred rupees.

See also Trust (No. 64)

59.

SHARE WARRANTS TO, bearer issued under the Companies Act, 1956.

One-and-a-half times the duty payable on a mortgage deed with possession (No. 40(a), for the amount equal to the nominal amount of the shares specified in the warrant.

Exemption

Share warrant when issued by a company in pursuance of the Companies Act, 1956, section 114, to have effect only upon payment, as composition for the duty, to the Collector of Stamp Revenue of--

(a) one-and-a-half per centum of the whole subscribed capital of the company; or

(b) if any company which has paid the said duty or composition in full subsequently issues an addition to its subscribed capital, one and a half per cent of the additional capital so issued.

60.

SHIPPING ORDER for or relating to the conveyance of goods on board of any vessel

One rupee

61.

SURRENDER OF LEASE

(a) when the duty with which the lease is chargeable does not exceed ten rupees

The duty with which such lease is chargeable

(b) in any other case

One hundred rupees

Exemption

Surrender of lease, when such lease is exempted from duty

62.

TRANSFER (whether with or without consideration)--

(a) of shares in an incorporated company or other body corporate;

[136][Twenty five paise] for every hundred rupees or part thereof of the value of the share.

(b) of debentures, being marketable securities whether the debenture is liable to duty or not except debentures provided for by section 8;

One-half of the duty payable on a Conveyance (No. 23)[137] for a consideration equal to the face amount of the debentures

(c) of any interest secured by a bond, mortgage deed or policy of insurance,--

(i) if the duty on such bond mortgage-deed or policy does not exceed five rupees;

The duty with which such bond, mortgage-deed or policy of insurance is chargeable

(ii) in any other case

Five rupees

(d) of any property under the [138]Administrator Generals Act, 1874, section 31;

Ten rupees

(e) of any trust-property without consideration from one trustee to another trustee, or from a trustee to a beneficiary

Five rupees or such smaller amount as may be chargeable under clauses (a) to (c) of this article.

Exemptions

Transfers by endorsement--

(a) of a bill of exchange, cheque or promissory note;

(b) of a bill of lading, delivery order, warrant for goods, or other mercantile document of title of goods;

(c) of a policy of insurance;

(d) of securities of the Central Government--(see also section 8)

63.

TRANSFER OF LEASE by way of assignment and not by way of under lease

The same duty as Conveyance (No. 23)[139] as levied by this Act, for a consideration equal to the amount of the consideration for the transfer.

Exemption

Transfer of any lease exempt from duty

64.

TRUST--

A.--Declaration of--of, or concerning any property when made by any writing not being a Will

The same duty as Conveyance No. 23[140] of amount of value of the property settled

B.--Revocation of--of, or concerning, any property when made by any instrument other than a Will--see also Settlement (No. 58)

The same duty as a Bond (No. 15) for a sum equal to the amount or value of the property concerned, as set forth in the instrument, but not exceeding one hundred rupees.

VALUATION--See Appraisement (No. 8)

VAKIL--Entry as a Vakil (No, 30}

65.

WARRANT FOR GOODS, that is to say, any instrument evidencing the title of any person therein named, or his assigns, or the holder thereof, to the property in any goods lying in or upon any dock, warehouse wharf, such instrument being signed or certified by or on behalf of the person in whose custody such goods may be.

One rupee