Section 2 - Definitions
In this Act,
unless there is something repugnant in the subject or context, -
(1)
[1]["allotment list" means a list containing details of allotment
of the securities intimated by the issuer to the depository under sub-section
(2) of section 8 of the Depositories, Act, 1996 (22 of 1996);
(1A) "banker" includes a bank and any person acting as a
banker;]
(2)
"Bill
of exchange" means a bill of exchange as defined by the Negotiable
Instruments Act, 1881, and includes also a hundi, and any other document
entitling or purporting to entitle any other person of, or to draw upon any
other person for, any sum of money;
(3)
"Bill
of exchange payable on demand" includes-
(a) an order for the payment of any sum of money by a bill of exchange or
promissory note, or for the delivery of any bill of exchange or promissory note
in satisfaction of any sum of money, or for the payment of any sum of money out
of any particular fund which may or may not be available, or upon any condition
or contingency which may or may not be performed or happen;
(b) an order for the payment of any sum of money weekly, monthly, or at any
other stated period; and
(c) a letter of credit, that is to say, any instrument by which one person authorises
another to give credit to the person in whose favour it is drawn;
(4)
"Bill
of lading" includes a "through bill lading", but does not
include a mate's receipt;
(5)
"Bond"
includes [2][but
does not include a debenture]-
(a) any instrument whereby a person obliges himself to pay money to another,
on condition that the obligation shall be void if a specified act is performed,
or is not performed, as the case may be;
(b) any instrument attested by a witness and not payable to order or bearer,
whereby a person obliges himself to pay money to another; and
(c) any instrument so attested, whereby a person obliges himself to deliver
grain or other agricultural produce to another;
(6)
"Chargeable"
means, as applied to an instrument executed or first executed after the commencement
of this Act, chargeable under this Act, and, as applied to any other
instrument, chargeable under the law in force in [3][India]
when such instrument was executed or, where several persons executed the
instrument at different times, first executed;
(7)
"Cheque"
means a bill of exchange drawn on a specified banker and not expressed to be
payable otherwise than on demand;
[4][(7A) "clearance list" means a list of transactions of sale
and purchase relating to contracts traded on the stock exchanges submitted to a
clearing corporation in accordance with the law for the time being in
force in this behalf;
(7B) "clearing corporation" means an entity established to
undertake the activity of clearing and settlement of transactions in securities
or other instruments and includes a clearing house of a recognised stock
exchange;]
(8)
[5][***]
(9)
"Collector"-
(a) means, within the limits of the towns of Calcutta, Madras and Bombay,
the Collector of Calcutta, Madras and Bombay respectively, and, without those
limits, the Collector of a district; and
(b) includes a Deputy Commissioner and any officer whom [6][the [7][State
Government]] may, by notification in the Official Gazette, appoint in this
behalf;
(10)
[8]["Conveyance" includes a conveyance on sale, every instrument
and every decree or final order of any Civil Court, by which property, whether
moveable or immovable, or any estate or interest in any property is transferred
to, or vested in or declared to be of any other person, inter vivos, and which
is not otherwise specifically provided for by Schedule I or Schedule 1-A, as
the case may be.
[9][(10A) "debenture" includes--
(i) debenture stock, bonds or any other instrument of a company evidencing a
debt, whether constituting a charge on the assets of the company or not;
(ii) bonds in the nature of debenture issued by any incorporated company or
body corporate;
(iii) certificate of deposit, commercial usance bill, commercial paper and
such other debt instrument of original or initial maturity upto one year as the
Reserve Bank of India may specify from time to time;
(iv) securitised debt instruments; and
(v) any other debt instruments specified by the Securities and Exchange
Board of India from time to time;
(10B) "depository" includes--
(a) a depository as defined in clause (e) of sub-section (1)
of section 2 of the Depositories Act, 1996 (22 of 1996); and
(b) any other entity declared by the Central Government, by notification in
the Official Gazette, to be a depository for the purposes of this Act;]
(11)
"Duly
stamped", as applied to an instrument, means that the instrument bears an
adhesive or impressed stamp of not less than the proper amount and that such
stamp has been affixed or used in accordance with the law for the time being in
force in [10][India];
(12)
"Executed"
and "execution" used with reference to instruments mean
"signed" and "signature" [11][and
includes attribution of electronic record within the meaning of section
11 of the Information Technology Act, 2000 (21 of 2000)];
[12][***]
(13)
"Impressed
stamp" includes-
(a) labels affixed and impressed by the proper officer; and
(b) stamps embossed or engraved on stamped paper
[13][(13A) "India" means the territory of India excluding the
State of Jammu and Kashmir ;]
(14)
[14]["instrument" includes--
(a) every document, by which any right or liability is, or purports to be,
created, transferred, limited, extended, extinguished or recorded;
(b) a document, electronic or otherwise, created for a transaction in a
stock exchange or depository by which any right or liability is, or purports to
be, created, transferred, limited, extended, extinguished or recorded; and
(c) any other document mentioned in Schedule I, but does not include
such instruments as may be specified by the Government, by notification in the
Official Gazette;]
(15)
"Instrument
of partition" means any instrument where by co-owners of any property
divide or agree to divide such property in severalty, and includes also a final
order for effecting a partition passed by any Revenue-authority or any Civil
Court and an award by an arbitrator directing a partition [15][and
a memorandum regarding past partition;]
[16][(15A) "issuer" means any person making an issue of
securities;]
(16)
"Lease"
means a lease of immovable property and includes also-
(a) a patta;
(b) a kabuliyat or other undertaking in writing, not being a counter-part of
a lease, to cultivate, occupy or pay or deliver rent for, immovable property;
(c) any instrument by which tolls of any description are let;
(d) any writing on an application for a lease intended to signify that the
application is granted:
[17][(16A) "marketable security" means a security capable of being
traded in any stock exchange in India;
(16B) "market value", in relation to an instrument through
which--
(a) any security is traded in a stock exchange, means the price at which it
is so traded;
(b) any security which is transferred through a depository but not traded in
the stock exchange, means the price or the consideration mentioned in such
instrument;
(c) any security is dealt otherwise than in the stock exchange or
depository, means the price or consideration mentioned in such instrument;]
(17)
"Mortgage-deed"
includes every instrument whereby, for the purpose of securing money advanced,
or to be advanced, by way of loan, or an existing or future debt, or the
performance of an engagement, one person transfers, or creates, to, or in favour
of, another, a right over or in respect of specified property;
(18)
"Paper"
includes vellum, parchment or any other material on which an instrument may be
written;
(19)
"Policy
of insurance" includes-
(a) any instrument by which one person, in consideration of a premium, engages
to indemnify another against loss, damage or liability arising from an unknown
or contingent event;
(b) a life-policy, and any policy insuring any person against accident or
sickness, and any other personal insurance;[18][***]
[19][***]
[20][(19A) "policy of group insurance" means any instrument
covering not less than fifty or such smaller number as the Central Government
may approve, either generally or with reference to any particular case, by
which an insurer, in consideration of a premium paid by an employer or by an
employer and his employees jointly, engages to cover, with or without medical
examination and for the sole benefit of persons other than the employer, the
lives of all the employees or of any class of them, determined by conditions
pertaining to the employment, for amounts of insurance based upon a plan which
precludes individual selection ;]
(20)
"Policy
of sea-insurance" or "sea-policy''-
(a) means any insurance made upon any ship or vessel (whether for marine or
inland navigation), or upon the machinery, tackle or furniture of any ship or
vessel, or upon any goods, merchandise or property of any description whatever
on board of any ship or vessel, or upon the freight of, or any other interest
which may be lawfully insured in, or relating to, any ship or vessel; and
(b) includes any insurance of goods, merchandise or property for any transit
which includes, not only a sea risk within the meaning of clause (a), but also
any other risk incidental to the transit insured from the commencement of the
transit to the ultimate destination covered by the insurance;
Where any person, in consideration of any sum of money paid or to be
paid for additional freight or otherwise, agrees to take upon himself any risk
attending goods, merchandise or property of any description whatever while on
board of any ship or vessel, or engages to indemnify the owner of any such
goods, merchandise or property from any risk, loss or damage, such agreement or
engagement shall be deemed to be a contract for sea-insurance;
(21)
"Power
of attorney" includes any instrument (not charge able with a fee under the
law relating to court-fees for the time being in force) empowering a specified
person to act for and in the name of the person executing it;
(22)
"Promissory
note" means a promissory note as defined by the Negotiable Instruments
Act, 1881;
It also includes a note promising the payment of any sum of money out of
any particular fund which may or may not be available, or upon any condition or
contingency which may or may not be performed or happen;
(23)
"Receipt"
includes any note, memorandum or writing-
(a) whereby any money or any bill of exchange cheque or promissory note is
acknowledged to have been received, or
(b) whereby any other moveable property is acknowledged to have been
received in satisfaction of a debt, or
(c) where by any debt or demand, or any part of debt or demand, is
acknowledged to have been satisfied or discharged, or
(d) which signifies or imports any such acknowledgement, and whether the
same is or is not signed with the name of any person; [21][***]
[22][(23A) "securities" includes--
(i) securities as defined in clause (h) of section 2 of the
Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(ii) a "derivative" as defined in clause (a) of section
45U of the Reserve Bank of India Act, 1934 (2 of 1934);
(iii) a certificate of deposit, commercial usance bill, commercial paper, repo
on corporate bonds and such other debt instrument of original or initial
maturity upto one year as the Reserve Bank of India may specify from time to
time; and
(iv) any other instrument declared by the Central Government, by notification
in the Official Gazette, to be securities for the purposes of this Act;]
(24)
"Settlement"
means any non-testamentary disposition, in writing, of moveable or immovable
property made-
(a) in consideration of marriage,
(b) for the purpose of distributing property of the settler among his family
or those for whom he desire to provide, or for the purpose of providing for
some person dependent on him, or
(c) for any religious or charitable purpose;
and includes an agreement in writing to make such a disposition [23][and,
where any such disposition has not been made in writing, any instrument
recording, whether by way of declaration of declaration of trust or otherwise,
the terms of any such disposition]; [24][***]
(25)
[25]["Soldier" includes any person below the rank of
non-commissioned officer who is enrolled under the Indian Army Act, 1911] [26][[27][***]]
(26)
[28]["Stamp" means any mark, seal or endorsement by any agency or
person duly authorised by the State Government, and includes an adhesive or
impressed stamp, for the purposes of duty chargeable under this Act;
(27)
[29]["stock exchange" includes--
(i) a recognised stock exchange as defined in clause (f) of section
2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); and
(ii) such other platform for trading or reporting a deal in securities, as
may be specified by the Central Government, by notification in the Official
Gazette, for the purposes of this Act.]
[STATE
AMENDMENTS
[WEST BENGAL
In Section 2
(1) [30][in clause (10),-
(a) for the words "and every instrument", the words and figures
", every instrument and every decree or final order of any Civil Court or
every order made by the High Court under section 394 of the Companies
Act, 1956, in respect of amalgamation, merger, reconstruction, or demerger of
companies, other than amalgamation, merger, reconstruction or demerger, of two
banking companies or a banking company with a non-banking financial
company" shall be substituted; and
(b) for the words "is transferred", the words "or any estate
or interest in any property is transferred to, or vested in any other
person," shall be substituted;]
(2) [31][to clause (10), the following proviso shall be added:-
"Provided that on and after the constitution of the National
Company Law Tribunal, the expression 'High Court' shall be read as;";
'Tribunal']
(3) [32][in clause (11), for the words "for the time being in force in
India:", the words, figures and brackets "for the time being in force
in India, and includes an instrument which bears impression of stamps under subsection
(3) of section 10;" shall be substituted;]
(4) [33][after clause (17), the following clause shall be inserted:-
'(17A) "notification" means a notification published in the
Official Gazette;'.]
Section - 3A.
(1)
There shall
be charged, levied and paid to the Government of Assam, Besides dues payable
under any law for the time being in force including Section 3 of this Act, a
surcharge, hereinafter referred o as Stamp Surcharge on the instrument
mentioned in the following items of Schedule I to the principal Act, namely,--
Item Nos. 1-10, 12, 15-20, 22-26, 28, 29, 31-36, 38-46, 48, 50-51, 54-61
and 63-65 :
Provided that the surcharge shall not be payable in respect of
instrument exempted by Section 3.
(2)
The rate of
Stamp Surcharge shall be Twenty-five paise per instrument.
(3)
The Stamp
Surcharge shall be payable as if it were a duty under Section 3 and the
provisions of this Act including the Rules thereunder shall accordingly apply;
and the authorities for the time being empowered to collect and
enforce payment of Stamp duty shall, unless otherwise provided for by
or under this Act, within their respective jurisdiction for purposes of stamp
duty accordingly collect and enforce payment of stamp duty :
Provided that the Government of Assam may, for facilitating implementation,
by notification in the official Gazette, direct that in any case or class of
cases the provisions of this Act including the rules thereunder
shall apply subject to such indications not inconsistent with the
provisions of this Section and as may be specified in such notification.
(4)
Notwithstanding
anything contained in sub-section (3), the Government of Assam may make Rules
generally for securing the payment of the Stamp Surcharge and carrying into
effect the provisions of sub-sections (1) and (2) in particular for ensuring
the proper maintenance and rendering of accounts of the Stamp Surcharge."]
WEST BENGAL
[34][After Section 3 Section 3AA as inserted by section
6 of the West Bengal Taxation Laws (Amendment) Act, 1973 (West Ben. Act VIII of
1973), shall be omitted.]]]
Section 8-D - Agreement or document for assignment of receivables not liable to stamp duty
[35][8D. Agreement or document for assignment of receivables not liable to
stamp duty.--
Notwithstanding
anything contained in this Act or any other law for the time being in force,
any agreement or other document for assignment of "receivables" as
defined in clause (p) of section 2 of the Factoring Regulation Act,
2011 in favour of any "factor" as defined in clause (i)
of section 2 of the said Act shall not be liable to duty under this
Act or any other law for the time being in force.]
[STATE AMENDMENTS
[WEST BENGAL
[36][8D. Agreement or document for assignment of receivables not liable to
stamp duty.--
Notwithstanding
anything contained in this Act or any other law for the time being in force,
any agreement or other document for assignment of "receivables" as
defined in clause (p) of section 2 of the Factoring Regulation Act,
2011 in favour of any "factor" as defined in clause (1)
of section 2 of the said Act shall not be liable to duty under this
Act or any other law for the time being in force.]
Section 8E - Conversion of a branch of any bank into a wholly owned subsidiary of bank or transfer of shareholding of a bank to a holding company of bank not liable to duty.
[37][Notwithstanding anything contained in this Act or any other law for the
time being in force,--
(a)
conversion
of a branch of a bank into a wholly owned subsidiary of the bank or transfer of
shareholding of a bank to a holding company of the bank in terms of the scheme
or guidelines of the Reserve Bank of India shall not be liable to duty under
this Act or any other law for the time being in force; or
(b)
any
instrument, including an instrument of, or relating to, transfer of any
property, business, asset whether movable or immovable, contract, right,
liability and obligation, for the purpose of, or in connection with, the
conversion of a branch of a bank into a wholly owned subsidiary of the bank or
transfer of shareholding of a bank to a holding company of the bank in terms of
the scheme or guidelines issued by the Reserve Bank of India in this behalf,
shall not be liable to duty under this Act or any other law for the time being
in force.
Explanation.--
(i) For the purposes of this section, the expression "bank" means-
(a) "a banking company" as defined in clause (c) of section
5 of the Banking Regulation Act, 1949(10 of 1949);
(b) "a corresponding new bank" as defined in clause (da)
of section 5 of the Banking Regulation Act, 1949(10 of 1949);
(c) "State Bank of India" constituted under section 3 of
the State Bank of India Act, 1955(23 of 1955);
(d) "a subsidiary bank" as defined in clause (A) of section
2 of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959);
(e) "a Regional Rural Bank" established under section
3 of the Regional Rural Banks Act, 1976(21 of 1976);
(f) "a Co-operative Bank" as defined in clause (cci)
of section 5 of the Banking Regulation Act, 1949(10 of 1949);
(g) "a multi-State co-operative bank" as defined in clause
(cciiia) of section 5 of the Banking Regulation Act, 1949(10 of
1949);
(ii) For the purposes of this section, the expression the "Reserve Bank
of India" means the Reserve Bank of India constituted under section
3 of the Reserve Bank of India Act, 1934 (2 of 1934).
STATE AMENDMENTS
WEST BENGAL
[38][8E. Conversion of a branch of any bank into a wholly owned subsidiary
of bank or transfer of shareholding of a bank to a holding company of bank not
liable to duty.--
Notwithstanding
anything contained in this Act or any other law for the time being in force,--
(a) conversion of a branch of a bank into a wholly owned subsidiary of the
bank or transfer of shareholding of a bank to a holding company of the bank in
terms of the scheme or guidelines of the Reserve Bank of India shall not be liable
to duty under this Act or any other law for the time being in force; or
(b) any instrument, including an instrument of, or relating to, transfer of
any property, business, asset whether movable or immovable, contract, right,
liability and obligation, for the purpose of, or in connection with, the
conversion of a branch of a bank into a wholly owned subsidiary of the bank or
transfer of shareholding of a bank to a holding company of the bank in terms of
the scheme or guidelines issued by the Reserve Bank of India in this behalf,
shall not be liable to duty under this Act or any other law for the time being
in force.
Explanation.--
(i) For the purposes of this section, the expression "bank"
means--
(a) "a banking company" as defined in clause (c) of section 5 of
the Banking Regulation Act, 1949 (10 of 1949);
(b) "a corresponding new bank" as defined in clause (da) of
section 5 of the Banking Regulation Act, 1949 (10 of 1949);
(c) "State Bank of India" constituted under section 3 of the State
Bank of India Act, 1955 (23 of 1955);
(d) "a subsidiary bank" as defined in clause (k) of section 2 of
the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959);
(e) "a Regional Rural Bank" established under section 3 of the
Regional Rural Banks Act, 1976 (21 of 1976);
(f) "a Co-operative Bank" as defined in clause (cci) of section 5
of the Banking Regulation Act, 1949 (10 of 1949);
(g) "a multi-State co-operative Bank" as defined in clause
(cciiia) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);
(ii) For the purpose of this section, the expression the "Reserve Bank
of India" means the Reserve Bank of India constituted under section 3 of
the Reserve Bank of India Act, 1934.]
Section 8F - Agreement or document for transfer or assignment of rights or interest in financial assets not liable to stamp duty
[39][8F. Agreement or document for transfer or assignment of rights or
interest in financial assets not liable to stamp duty
Notwithstanding
anything contained in this Act or any other law for the time being in force,
any agreement or other document for transfer or assignment of rights or
interest in financial assets of banks or financial institutions
under section 5 of the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002, in favour of any asset
reconstruction company, as defined in clause (ba) of sub-section (1)
of section 2 of that Act, shall not be liable to duty under this
Act.]
[STATE AMENDMENTS
[WEST BENGAL
[40][8F. Agreement or document for transfer or assignment of rights or
interest in financial assets not liable to stamp duty.--
Notwithstanding
anything contained in this Act or any other law for the time being in force,
any agreement or other document for transfer or assignment of rights or
interests in financial assets of banks or financial institutions under section
5 of the Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002 (54 of 2002), in favour of any asset
reconstruction company, as defined in clause (ba) of sub-section (1) of section
2 of that Act, shall not be liable to duty under this Act.]]
Section 10 - Duties how to be paid
(1)
Except as
otherwise expressly provided in this Act, all duties with which any instruments
are chargeable shall be paid, and such payment shall be indicated on such
instruments, by means of stamps-
(a)
according to
the provisions herein contained; or
(b)
when no such
provision is applicable thereto-as the [41][State
Government] may by rule direct.
(2)
The rules
made under sub-section (1) may, among other matters, regulate,-
(a)
in the case
of each kind of instrument-the description of stamps which may be used;
(b)
in the case
of instruments stamped with impressed stamps-the number of stamps which may be
used;
(c)
in the case
of bills of exchange or promissory notes [42][***]
the size of the paper on which they are written.
[STATE AMENDMENTS
WEST BENGAL
[43][In Section 10 After sub-section (2), the following sub-sections shall
be inserted:-
"(3)? Subject to the rule
made under clause (b) of sub-section (1), the State Government may, by
notification, specify the instrument on which duty may be paid by using machine
for making impression indicating the value of stamp-duty paid.
(4)?? The Chief Controlling
Revenue Authority or any other officer empowered by the State Government in this
behalf, may, by notification, authorise any person, body, organisation,
treasury, or treasury linked bank including post offices and banks to use
machine for making impressions indicating the value of stamp-duty paid, for the
purpose of sub-section (3).".]]]
Section 47 - Power of payer to stamp bills and promissory notes received by him unstamped
When any
bill of exchange [44][or
promissory note] chargeable [45][with
a duty not exceeding ten naye paise] is presented for payment unstamped, the
person to whom it is so presented may affix thereto the necessary adhesive
stamp, and, upon cancelling the same in manner hereinbefore provided, may pay
the sum payable upon such bill [46][or
note], and may charge the duty against the person who ought to have paid the
same, or deduct it from the sum payable as aforesaid, and such bill [47][or
note], shall, so far as respects the duty, be deemed good and valid :
Provided
that nothing herein contained shall relieve any person from any penalty or
proceeding to which he may be liable in relation to such bill [48][or
note].
[STATE AMENDMENTS
WEST BENGAL
After Section 47
(1) [49][in sub-section (1), after clause (g), the following clause shall be
inserted:-
"(ga) lease, including a under-lease or a sub-lease and any
agreement to let or sublet for a period exceeding thirty years,";]
(2) [50][in sub-section (4), for the words, letter and brackets "or clause
(g)", the words, letters and brackets "clause (g), or clause
(ga)" shall be substituted;
(3) in clause (a) of the proviso to sub-section (8), for the words, letter
and brackets "or clause (g),", the words, letters and brackets
"clause (g), or clause (ga)," shall be substituted.]]]
Schedule West Bengal - SCHEDULE IA
SCHEDULE-IA
|
Description of Instruments
|
Proper Stamp-duty
|
|
[1. Acknowledgement of a debt, exceeding twenty
rupees in amount or value, written or signed by, or on behalf of, a debtor in
order to supply evidence of such debt in any book (other than a Banker's
passbook) or on a separate piece of paper when such book or paper is left in
the creditor's possession:
Provided that such acknowledgement does not contain any promise to pay
a debt or any stipulation to pay interest or to deliver any goods or other
property, but not including an acknowledgment relating to bills of exchange,
cheques, promissory notes, bills of lading, letters of credit, policies of
insurance, shares, debentures, proxies or receipts.
|
Twenty paise.]
|
|
[2. Administration bond including a bond given
under section 6 of the Government Savings Banks Act, 1873 or section 291 or
section 375 or section 376 of the Indian Succession Act, 1925--
|
The same duty as a Bond (No. 15) for such amount.
|
|
(a) where the amount does not exceed Rs.1,000
|
Rupees fifty.
|
|
(b) in any other case.
|
Rupees fifty.
|
|
[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.
Advocate. See entry as an Advocate (No. 30)
|
Rupees Ten.
|
|
[4. Affidavit including an affirmation or
declaration in the case of persons by law allowed to affirm or declare
instead of swearing.
|
|
|
Exemptions:
|
|
|
Affidavit or declaration in writing when made--
(a) as a condition of enlistment under the Army Act, 1950 (46 of
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;
|
Fifty paise.
|
|
(b) (i) if relating to the, sale of a Government security;
|
Subject to a maximum rupees fifty, twenty five paise for every Rs.
10,000 or part thereof, of the value of the security.
|
|
(ii) if relating to the sale of a share in an incorporated company or
other body corporate;
|
Fifty paise for every Rs.5,000 or part thereof of the value of the
share.
|
|
(c) if relating to storing of agricultural produce in Cold Storage;
|
Rupees one for every 1,000 kilograms of agricultural produce or part
thereof.
|
|
(d) if relating to sale or lease-cum-sale of immovable property;
|
The same duty as a conveyance (No. 23) for market value.
|
|
[Provided that in case of agreement relating to
sale or assignment or lease-cum-sale for flats or apartments or units which
are under construction or to be constructed, the stamp duty shall be charged
at the rate of two per centum of the market value of the property subject to
fulfillment of conditions as mentioned in article 23.
Explanation.- For the flats or apartments or units whose plan has been
sanctioned within the period from the 1st day of January, 2015 to the date of
effect of this section, the above provisions shall, mutatis mutandis, apply
at the time of registration of such agreement, subject to the conditions that
the final conveyance shall be completed within the 31st day of January, 2019]
|
|
(e) if relating to matters not otherwise provided for, except matters
relating to cheques, promissory notes, bills of lading, letters of credit,
policies of insurance, transfer of shares, debentures, proxies or receipts.
|
Rupees ten.
|
|
Explanation.--The expression "Agreement or Memorandum of an
Agreement", if relating to a sale, shall include an agreement to sell or
any memorandum or acknowledgement in relation to transfer or deliver of
possession of immovable property with an intent to transfer right, interest
in, or title to, such property at any future date.
|
|
|
Exemptions:
|
|
|
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 Government of India for, or
relating to, any loan.
|
|
|
[(f) if relating to an agreement giving authority
to a promoter or developer, by whatever name called, for construction on, or
sale of, or transfer (in any manner whatsoever) of, any immovable property--
|
|
|
(i) where the market value of the property does not exceed rupees
thirty lakh;
|
Rupees five thousand.
|
|
(ii) where the market value of the property exceeds rupees thirty lakh
but does not exceed rupees sixty lakh;
|
Rupees seven thousand.
|
|
(iii) where the market value of the property exceeds rupees sixty lakh
but does not exceed one crore;
|
Rupees ten thousand.
|
|
(iv) where the market value of the property exceeds rupees one crore
but does not exceed rupees one and half crore;
|
Rupees twenty thousand.
|
|
(v) where the market value of the property exceeds rupees one and half
crore but does not exceed rupees three crore;
|
Rupees forty thousand.
|
|
(vi) where the market value of the property exceeds rupees three
crore;
|
Rupees seventy-five thousand.]
|
|
Agreement to lease.--See Lease (No. 35)
|
|
|
6. 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),
|
|
|
(2) the pawn or pledge of movable 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 the instrument evidencing the agreement;
|
Rupees ten for every Rs. 1,000 or part thereof, of the amount of loan.
|
|
(b) if such loan or debt is repayable not more than three months from
the date of such instrument.
|
Half the duty payable under sub-clause (a).
|
|
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.
|
Rupees fifty.
|
|
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
|
Rupees fifty.
|
|
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).
|
Rupees fifteen.
|
|
10. Articles of Association of a Company--
|
|
|
(a) where the nominal share capital does not exceed one lakh of
rupees;
|
Rupees one hundred and fifty.
|
|
(b) where the nominal share capital exceeds one lakh of rupees.
|
Rupees three hundred.
|
|
Exemptions:
|
|
|
Articles of any association not formed for profit and registered under
section 26 of the Companies Act, 1956(1 of 1956).
[See also Memorandum of Association of a Company (No. 39)]
|
|
|
11. Articles of Clerkship or contract whereby any person first becomes
bound to serve as a clerk in connection with his admission as an Attorney in
any High Court.
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).
|
Rupees two hundred and fifty.
|
|
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;
|
Rupees fifty.
|
|
and for every additional Rs. 1,000 or part thereof in excess of
Rs.5,000.
|
Rupee one subject to a maximum of rupees one hundred.
|
|
13. Bill of Exchange as defined by section 2(2),
not being a bond, bank-note or currency note--
[(a) * * *]
|
One-half of the rates specified in items (b) and
(c) of this Article, subject to the Proviso and Explanations as stated in the
Promissory Note (No. 49) (w.e.f. 1.7.1976).
|
|
(b) where payable otherwise than on demand--
|
|
|
(1) where payable not more than three months after date or sight
|
|
|
if the amount of the bill or note does not exceed Rs. 500;
|
[Thirty paise].
|
|
if it exceeds Rs. 500 but does not exceed Rs. 1,000;
|
[Sixty paise].
|
|
and for every additional Rs. 1,000 or part thereof in excess of Rs.
1,000.
|
[Sixty paise].
|
|
(ii) where payable 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;
|
[Sixty paise].
|
|
if it exceeds Rs. 500 but does not exceed Rs. 1,000;
|
[One rupee twenty paise].
|
|
and for every additional Rs. 1,000 or part thereof in excess of Rs.
1,000.
|
[One rupee twenty paise].
|
|
(iii) where payable 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;
|
[Ninety paise].
|
|
if it exceeds Rs. 500 but does not exceed Rs. 1,000;
|
[One rupee eighty paise].
|
|
and for every additional Rs. 1,000 or part thereof in excess of Rs.
1,000.
|
[One rupee eighty paise].
|
|
(iv) where payable 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;
|
[One rupee twenty five paise].
|
|
if it exceeds Rs. 500 but does not exceed Rs. 1,000;
|
[Two rupees fifty paise].
|
|
and for every additional Rs. 1,000 or part thereof in excess of Rs.
1,000.
|
[Two rupees fifty paise]. .
|
|
(c) where payable at more than one year after date or sight--
|
|
|
if the amount of the bill or note does not exceed Rs. 500;
|
[Two rupees fifty paise].
|
|
if it exceeds Rs. 500 but does not exceed Rs. 1,000;
|
[Five rupees].
|
|
and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000.
|
[Five rupees].
|
|
14. Bill of Lading (including a through bill of lading)
|
[One rupee].
N.B.--
If a bill of lading is drawn in parts, the proper stamp therefor 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,
1908 (XV of 1908), and are to be delivered at another place within the limits
of the same port.
|
|
|
(b) Bill of lading when executed out of India and relating to property
to be delivered in 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,
1970:
|
|
|
where the amount or value accrued does not exceed Rs. 50;
|
Rupees two.
|
|
where it exceeds Rs.50 and does not exceed Rs.100;
|
Rupees four.
|
|
where it exceeds Rs.100 and does not exceed Rs.200;
|
Rupees eight.
|
|
where it exceeds Rs.200 and does not exceed Rs.300;
|
Rupees twelve.
|
|
where it exceeds Rs.300 and does not exceed Rs.400;
|
Rupees sixteen.
|
|
where it exceeds Rs.400 and does not exceed Rs.500;
|
Rupees twenty.
|
|
where it exceeds Rs.500 and does not exceed Rs.600;
|
Rupees twenty four.
|
|
where it exceeds Rs.600 and does not exceed Rs.700;
|
Rupees twenty eight.
|
|
where it exceeds Rs.700 and does not exceed Rs.800;
|
Rupees thirty two.
|
|
where it exceeds Rs.800 and does not exceed Rs.900;
|
Rupees thirty six.
|
|
where it exceeds Rs.900 and does not exceed Rs.1,000;
|
Rupees forty.
|
|
and for every Rs.500 or part thereof in excess of Rs.1,000.
|
Rupees twenty.
|
|
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).
|
|
|
Exemptions:
|
|
|
Bond, when executed by--
|
|
|
(a) headmen nominated under rules framed in accordance with the Bengal
Irrigation Act, 1876 (Bengal Act II of 1876), section 99, for the due
performance of their duties under that Act;
|
|
|
(b) any person for the purpose of guaranteeing that the local income
derived from private subscriptions to a charitable dispensary or hospital or
any other object of public utility shall not be less than a specified sum per
mensem.
|
|
|
16. Bottomry Bond, that is to say, instrument whereby the master of a
sea-going ship borrows money on the 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.
|
Rupees twenty-five.
|
|
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), granted to the purchaser of any property sold by public
auction by a Civil or Revenue Court, or Collector or other Revenue Officer.
|
The same duty as a conveyance (No. 24) for a consideration equal to
the amount of the purchase money only.
|
|
19. Certificate or other document evidencing the right or title,
otherwise than by transfer, of the holder thereof or any other person,
either--
|
|
|
(a) to any share, scrip or stock in or of any incorporated company or
other body corporate, or to become proprietor of share, scrip or stock in or
of any such company or body; or
|
Sixty paise
|
|
(b) to any fixed deposit in any incorporated company or other body
corporate or other lending institution.
|
Rupee one for every Rs. 1,000 or part thereof, of the amount of
deposit taken.
|
|
See also Letter of Allotment of Shares (No. 36).
|
|
|
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 charterer, whether it
includes a penalty clause or not.
|
Rupees five.
|
|
21. [****]
|
|
|
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 credito Rs. (See also Letter of Licence, No. 38).
|
Rupees fifty.
|
|
23. Conveyance [as defined by section 2(10)]. [not
being a conveyance under No. 23A and] not being a transfer charged or
exempted under No. 62.
|
(a) [Six
per centum of the market value, in case the market value of the property does
not exceed [rupees
one crore], and seven per centum of the market value, in case the market
value of the property exceeds [rupees
one crore], when the property is situated in the areas to which the Kolkata
Improvement Act, 1911 or Howrah Improvement Act, 1956, extends.
|
|
(b) [Six
per centum of the market value, in case the market value of the property does
not exceed [rupees
one crore], and seven per centum of the market value, in case the market
value of the property exceeds [rupees
one crore], when the property is situated in the areas of any Municipal
Corporation or Municipality or a notified area other than those included in
clause (a).
|
|
Exemptions:
|
(c) [Five
per centum of the market value, in case the market value of the property does
not exceed [rupees
one crore], and six per centum of the market value, in case the market value
of the property exceeds [rupees
one crore], when the property is situated in the areas other than those
included in clause (a) or clause (b).
|
|
(a) Assignment of copyright by entry made under the Copyright Act,
1957 (14 of 1957), section 18.
|
|
|
(b) Co-partnership Deed. See Partnership (No. 46).
|
|
|
* Note.--Rates of Stamp Duty for Conveyance--
|
|
|
up to 14.07.96
|
= 10%
|
|
From 15.07.1996 to 31.03.2002
|
= 5%
|
|
From 01.04.2002 to 20.10.2002
|
= 6% for municipal area.
|
|
From 21.10.2002 to 31.07.2006
|
= 8% for municipal area
|
|
From 05.08.2003 to 31.07.2006
|
= 10% in KIT. and H.I.T.
|
|
and from 05.08.2003 to 31.07.2006
|
= 6% in Panchayat area.
|
|
|
[Provided that in any case when an agreement
relating to sale is executed and registered with the ad valorem stamp-duty
required under the proviso to article 5(d) and in furtherance of such
agreement--
(a) if the final conveyance is made within four years from the date of
agreement or within two years from the date of completion/occupancy
certificate issued by appropriate authority or from the date of procurement
of electric connection, whichever is earlier, in favour of the original
purchaser or in favour of the member(s) of his/her family, the market value
of the property as assessed at the time of registration of such agreement
shall be treated as the market value of the property for the purpose of
determination of chargeability at the time of registration of the final
conveyance and the stamp-duty to be paid on such conveyance shall be the
difference between the duty payable and the duty already paid under the
proviso to article 5(d) at the time of registration of the agreement or
rupees ten, whichever is greater;
(b) if the final conveyance is made, beyond the time limit as
specified in clause (a), in favour of the original purchaser or in favour of
the member(s) of his/her family, the market value of the property shall be
reassessed at the time of registration of such conveyance and the stamp-duty
to be paid on such conveyance shall be the difference between the duty
payable and the duty already paid under the proviso to article 5(d) at the
time of registration of the agreement or rupees ten, whichever is greater:
Provided further that the above provisions shall not be applicable, if
final conveyance is made in favour of any person or persons other than the
original purchaser or the member(s) of his/her family.
Explanation.- For the purpose of this article, the expression
"member of a family" shall have the same meaning as defined in
article 33.]
|
|
[23A. Conveyance, in respect of amalgamation,
merger, reconstruction, or demerger, of companies, other than amalgamation,
merger, reconstruction or demerger, of two banking companies or a banking
company with a non-banking financial company, executed on the basis of decree
or final order of any Civil Court or every order made by the Tribunal under
section 394 of the Companies Act, 1956 (1 of 1956), as defined by section 2(10),
not being a transfer charged or exempted under No. 62, on the market value of
the property which is the subject-matter of the conveyance, when the property
of the transferor company located in the State of West Bengal is transferred
to the transferee company by way of such amalgamation, merger,
reconstruction, or demerger of companies under the decree of final order of
any Civil Court or every order of the Tribunal under section 394 of the
Companies Act, 1956:
Provided that on and after the constitution of the National Company
Law Tribunal, the expression 'High Court' shall be read as 'Tribunal'.
|
The same duty as a Conveyance (No. 23) on the aggregate of the market
value of the shares issued or allotted, in exchange or otherwise, and the
amount of consideration paid--
(a) by the transferee company, for such amalgamation or merger:
Provided that the amount of such duty chargeable under this article
shall not exceed--
(i) an amount equal to two per centum of the true market value of the
immovable property located within the State of West Bengal of the transferor
company, or
(ii) an amount equal to half per centum of the aggregate of the market
value of the shares issued or allotted, in exchange or otherwise, and the
amount of consideration paid by such transferor company, for such
amalgamation,
whichever is higher;
(b) by the resulting company, for such reconstruction or demerger:
Provided that in case of reconstruction or demerger, the amount of
such duty chargeable under this item shall not exceed--
(i) an amount equal to two per centum of the true market value of the
immovable property located within the State of West Bengal of the transferor
company, or
(ii) an amount equal to half per centum of the aggregate of the market
value of the shares issued or allotted, to the resulting company and the
amount of consideration paid for such demerger,
whichever is higher.]
|
|
24. Copy or Extract certified to be a 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 one rupee;
|
Rupees ten.
|
|
(ii) in any other case not falling within the provisions of section
6A.
|
Rupees ten.
|
|
Exemptions:
|
|
|
(a) Copy of any paper which a public officer is expressly required by
law to make or furnish for record in any public officer 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
and in respect of which the proper duty has been paid--
|
|
|
(a) if the duty with which the original instrument is chargeable does
not exceed two rupees;
|
The same duty as is payable on the original.
|
|
(b) in any other case not falling within the provisions of section 6A.
|
Rupees five.
|
|
Exemption:
|
|
|
Counterpart of any lease granted to a cultivator, when such lease is
exempted from duty.
|
|
|
26. Customs Bond--
|
|
|
(a) when 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
|
Rupees fifty.
|
|
[27. Debenture (whether a mortgage debenture or
not), being a marketable security transferable--
|
0.05% per year of the face value of the debenture, subject to the
maximum of 0.25% or rupees twenty-five lakhs whichever is lower.
|
|
(a) by endorsement or by a separate instrument of transfer
|
|
(b) by delivery.
|
|
|
Explanation.--
The term "Debenture" includes any interest coupons attached
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, where by the
company or body borrowing makes over, in whole or in part, their property to
trustee 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.]
Declaration of any Trust--See Trust (No. 64).
|
|
|
28. Delivery order in respect of goods, that is to say, any instrument
entitling any person therein name, or his assigns, or the holder thereof, to
the delivery of any goods lying 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 in value
twenty rupees.
Deposit of Title-deeds.--See Agreement relating to deposit of title
deeds, pawn or pledge (No. 6).
Dissolution of partnership.--See Partnership (No. 46).
|
Rupee one.
|
|
29. Divorce.--Instrument of, that is to say, any instrument by which
any person effects the dissolution of his marriage.
Dower.--Instrument of, See Settlement (No. 58).
Duplicate.--See Counterpart (No. 25).
|
Rupees fifty.
|
|
30. Entry as an Attorney on the roll of the High Court at Calcutta
under any law for the time being in force.
|
Rupees five hundred.
|
|
Exemption:
|
|
|
Entry of an Attorney on the roll of the High Court at Calcutta when he
has previously been enrolled as such in any other High Court.
|
|
|
31. Exchange of Property.--Instrument of.
|
The same duty as a Conveyance (No. 23) on the market value of the
property of the greatest value.
|
|
Extract.--See Copy of Extract (No. 24).
|
|
|
32. Further charge.--Instrument of, that is to say, any instrument
imposing a further charge on mortgaged property-
|
|
|
(a) when the original mortgage is one of the descriptions referred to
in clause (a) of Article No. 40 (that is, with possession).
|
The same duty as a Conveyance (No,. 23) for a consideration equal to
the amount of the further charge secured by such instrument.
|
|
(b) when such mortgage in one of the descriptions 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 as a Conveyance (No. 23) for a consideration 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.
|
[Rupees ten for every Rs. 500 or part thereof,
for the amount secured by such deed, subject to the maximum of Rs. 1,00,000.]
|
|
33. Gift.--Instrument of, not being a Settlement (No. 58) or Will or
Transfer (No. 62)--
(i) when made to a member of a family;
|
One-half of one per centum of the market value of the property which
is the subject-matter of the Gift.
|
|
(ii) when made to any other person.
|
The same duty as a Conveyance (No. 23) on the market value of the
property which is the subject-matter of the Gift.
|
|
Explanation.--For the purpose of this Article, member of a family
shall mean parent, spouse, son, [daughter
(married, unmarried, widowed or divorcee)], son's wife, grandson,
grand-daughter, brother or sister (married, unmarried, widowed or divorcee).
|
|
Hiring agreement or agreement for service--
See Agreement (No. 5).
|
|
|
34. Indemnity Bond
|
The same duty as a 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 not exceeding one year;
|
The same duty as a Bottomry Bond (No. 16) for the whole amount paid,
payable or deliverable under such lease.
|
|
(ii) where the lease purports to be for a term exceeding one year but
not exceeding ten years;
|
The same duty as a Conveyance (No. 23) for a consideration equal to
twice the amount or value of the average annual rent reserved.
|
|
(iii) where the lease purports to be for a term exceeding ten years
but not exceeding thirty years;
|
The same duty as a Conveyance (No. 23) for a consideration equal to
three times the amount or value of the average annual rent reserved.
|
|
(iv) where the lease purports to be for a term exceeding thirty years
and for any term renewed.
|
The same duty as a conveyance (No. 23) on the market value of the
property which is the subject-matter of the lease.];
|
|
[(b) where such lease is granted for a fine or
premium, or for money advanced, or for security charges advanced, and where
no rent is reserved--
|
|
|
(i) where the lease purports to be for a term not exceeding thirty
years;
|
The same duty as a Conveyance (No. 23) for a consideration equal to
the amount or the value of such fine or premium or money advanced, or
security charges advanced, as set forth in the lease.
|
|
(ii) where the lease purports to be for a term exceeding thirty years
and for any term renewed or in perpetuity or where no term is mentioned.
|
The same duty as a Conveyance (No. 23) on the market value of the
property which is the subject-matter of the lease.];
|
|
[(c) where such lease is granted for a fine or
premium, or for money advanced, or for development charges advanced, or for
security charges advanced, in addition to rent reserved--
|
|
|
(i) where the lease purports to be for a term not exceeding thirty
years;
|
The same duty as a Conveyance (No. 23) for a consideration equal to
the amount or value of such fine or premium or advanced as set forth in such
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.
|
|
(ii) where the lease purports to be for a term exceeding thirty years
and for any term renewed or in perpetuity or where no term is mentioned.
|
[The stamp-duty as Conveyance (No. 23) on the
market value of the property which is the subject-matter of the lease, or an
aggregate of stamp-duties as a Conveyance (No. 23) on rent (three times of
the average annual rent) and premium or money advanced or security charges
advanced, whichever is higher:
|
|
Provided that in any case, when an agreement for a lease is stamped or
a lease in pursuance of such agreement is subsequently executed, the duty on
such lease shall not exceed rupees ten.];
|
|
Exemptions:
(a) Lease, executed in the case of a 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.
|
|
|
(b) * * * *
[Explanation I.--When a lessee undertakes to pay
any recurring charge, such as Government revenue, the landlord's share 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.]
[Explanation II.--The expressions "the lease
purports to be for a term" and "for any term renewed" referred
to in items (a)(iv) or (b)(ii) or (c)(ii), shall include not only the period
stated in the lease document but shall also be deemed to be the sum of such
stated period and all previous or subsequent periods immediately preceding or
succeeding the stated period respectively without any break for which the
lessee, and the less or, remained the same.
Explanation III.--
The stamp-duty chargeable on market value of the lease for a term
exceeding thirty years, and for any term renewed, shall be the amount of
stamp-duty less stamp-duty already paid for all previous period immediately
preceding the stated period without a break for which the lessee and less or
remained the same.]
[Explanation IV.--
The expression "or for security charges advanced" referred
to in items (b) and (c) of article 35, shall mean non-refundable security
charges or deposits only.];
|
|
|
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.
See also Certificate or other Document (No. 19).
|
Sixty paise.
|
|
37. Letter of Credit, that is to say, any instrument by which one
person authorises another to give credit to the person in whose favour it is
drawn.
|
Rupee one.
|
|
Letter of guarantee.--See Agreement (No. 5).
|
|
|
38. Letter of Licence, that 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.
|
Rupees fifty.
|
|
(See Composition Deed, No. 22)
|
|
|
39. Memorandum of Association of a Company--
|
|
|
(a) if accompanied by Articles of Association under section 26 of the
Companies Act, 1956 (1 of 1956);
|
Rupees sixty.
|
|
(b) if not so accompanied--
|
|
|
(i) where the nominal share capital does not exceed one lakh of
rupees;
|
Rupees two hundred.
|
|
(ii) where the nominal share capital exceeds one lakh of rupees.
|
Rupees three hundred.
|
|
Exemption:
|
|
|
Memorandum of any association formed for profit and registered under
section 26 of the Companies Act, 1956(1 of 1956).
|
|
|
40. Mortgage-deed, not being an Agreement relating to deposit of
title-deeds, pawn or pledge (No. 6). Bottomry Bond (No. 16), Mortgage of 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;
|
The same duty as a Conveyance (No. 23) for a consideration equal to
amount secured by such deed.
|
|
(b) when possession is not given or agreed to be given as aforesaid;
|
Rupees ten for every Rs.500 or part thereof for the amount secured by
such deed, subject to the maximum of Rs. 1,00,000.
|
|
Explanation.--A mortgagor who gives to the mortgagee a
power-of-attorney to collect rents or 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 abovementioned purpose where
the principal or primary security is duly stamped--
|
Rupee one and fifty paise.
|
|
for every sum secured not exceeding Rs. 1,000;
and for every Rs. 1,000 or part thereof secured in excess of Rs.
1,000.
|
|
|
Exemptions:
|
|
|
(1) Instruments executed by persons taking advances under the Land
Improvement Loans Act, 1883 (XIX of 1983), or the Agriculturists' Loans Act,
1884 (XII of 1984) 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 not more than three months from the
date of the instrument--
|
|
|
for every sum secured not exceeding Rs.200;
|
Twenty paise.
|
|
and for every Rs.200 or part thereof secured in excess of Rs.200;
|
Twenty paise.
|
|
(b) when the loan is repayable more than three months but not more
than eighteen months from the date of the instrument--
|
|
|
for every sum secured not exceeding Rs.100;
|
Forty paise.
|
|
and for every Rs.100 or part thereof secured in excess of Rs.100;
|
Rupees ten.
|
|
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 a Notary Public in the execution of the duties of his office or by any
other person lawfully acting as a Notary Public.
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 or commodities, excluding currency and interest rate relating to
forward contract] exceeding in value twenty rupees;
|
Fifty paise for every Rs. 5000 or part thereof;
|
|
(aa) [
of any goods or commodities, excluding currency and interest rate relating to
forward contract] exceeding in value twenty rupees but not delivered;
|
Ten paise for every Rs. 5000 or part thereof;
|
|
(ab) [
of any goods or commodities, excluding currency and interest rate relating to
forward contract] relating to future and options trading;
|
Ten paise for every Rs. 5000 or part thereof;
|
|
(ac) [
of any goods or commodities, excluding currency and interest rate relating to
forward contract] relating to forward contract of commodities traded through
an association or otherwise;
|
Ten paise for every Rs. 5000 or part thereof.]
|
|
[(ad) of currency and interest rate relating to
forward contract, including futures and premium on options contract and also
including all exercise and assigned contracts, traded through an association
or otherwise;
|
One paise for every Rs. 5,000 or part thereof;]
|
|
[(b) of any stock or marketable security
exceeding in value twenty rupees but not being a Government security
(i) in case of delivery
(ii) in case of non-delivery
(iii) if relating to futures and options trading
(iv) [
if relating to forward contracts, including futures and premium on options
contract and also including all exercise and assigned contracts] traded
through and association of otherwise
[(bb) of debt security including bond
|
Fifty paise for every Rs. 5,000 or part thereof;
Ten paise for every Rs. 5,000 or part thereof;
Ten paise for every Rs. 5,000 or part thereof;
Ten paise for every Rs. 5,000 or part thereof;]
Fifty paise for every Rs. 1,00,000 or part thereof;]
|
|
(c) of a Government security.
|
Subject to a maximum of rupees fifty, fifty paise for every Rs.10,000
or part thereof of the value of the security.
|
|
[43A. Note or record of transaction.--
[Electronics or otherwise] effected by a broker or agent on
self-account (proprietary trade) through a stock exchange or the association
or otherwise--
|
|
|
(a) if relating to purchase or sale of any goods or commodities,
excluding currency and interest rate relating to forward contract, exceeding
in value twenty rupees;
|
Fifty paise for every Rs. 5,000 or part thereof;
|
|
(aa) if relating to purchase or sale of any goods or commodities,
excluding currency and interest rate relating to forward contract, exceeding
in value twenty rupees but not delivered;
|
Five paise for every Rs. 5,000 or part thereof;
|
|
(ab) if relating to purchase or sale of any goods or commodities,
excluding currency and interest rate relating to forward contract, exceeding
in value twenty rupees relating to future and options trading;
|
Five paise for every Rs. 5,000 or part thereof;
|
|
(ac) if relating to purchase or sale of any goods or commodities,
excluding currency and interest rate relating to forward contract, exceeding
in value twenty rupees relating to forward contract of commodities, including
futures and premium on options contract and also including all exercise and
assigned contracts;
|
Five paise for every Rs. 5,000 or part thereof;
|
|
(ad) if relating to purchase or sale of currency and interest rate
relating to forward contract, including futures and premium on options
contract and also including all exercise and assigned contracts;
|
One paise for every Rs. 5,000 or part thereof;
|
|
(b) if relating to purchase or sale of any stock or marketable
security exceeding in value twenty rupees but not being a debt security or
Government security;
|
|
|
(i) in case of delivery
|
Fifty paise for every Rs. 5,000 or part thereof;
|
|
(ii) in case of non-delivery
|
Five paise for every Rs. 5,000 or part thereof;
|
|
(iii) if relating to future and options trading
|
Five paise for every Rs. 5,000 or part thereof;
|
|
(iv) if relating to forward contracts, including futures and premium
on options contract and also including all exercise and assigned contracts;
|
Five paise for every Rs. 5,000 or part thereof;
|
|
(bb) of debt security including bond
|
Fifty paise for every Rs. 1,00,000 or part thereof;
|
|
(c) of a Government security
|
Subject to maximum of rupees fifty, fifty paise for every Rs. 10,000
or part thereof of the value of the security.]
|
|
44. Note of Protest by the Master of a Ship.--See also Protest by the
Master of a Ship (No. 51).
Order for the payment of money.--See Bill of Exchange (No. 13)
mentioned in Schedule I.
|
Rupees ten.
|
|
45. Partition.--Instrument of [as defined by section 2(15)].
|
One-half of one per centum of the market value of the separated share
or shares of the property.
|
|
N.B.--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 severalty 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 Rupee one and fifty paise;
|
|
(b) where land is held on Revenue Settlement for period not exceeding
thirty years and paying the full assessment, the value for the purpose of
duty shall be calculated at not more than five times the annual revenue;
(c) where a final order for effecting 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 an instrument of partition in pursuance of such order or award
is subsequently executed, the duty on such instrument shall not exceed Rupees
one and fifty paise.
|
|
46. Partnership--
|
|
|
A. Instrument of--
|
|
|
(a) where the capital of the partnership does not exceed Rs.500;
|
Rupees twenty.
|
|
(b) where the capital of the partnership exceeds Rs.500 but does not
exceed Rs. 10,000;
|
Rupees fifty.
|
|
(c) where the capital of the partnership exceeds Rs. 10,000 but does not
exceed Rs.50,000;
|
Rupees one hundred.
|
|
(d) where the capital of the partnership exceeds Rs.50,000.
|
Rupees one hundred and fifty.
|
|
B. Dissolution of--
|
Rupees twenty five.
|
|
Explanation.--Any instrument, whereby two or more partnership firms or
partners of such firms jointly or severally enter into an agreement for
carrying on business or profession jointly, by way of amalgamation or
otherwise, shall be deemed to be an instrument of partnership for the
purposes of this Article.
|
|
|
Pawn or Pledge--See Agreement relating to deposit of title-deeds, pawn
or pledge No. 6.
|
|
|
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-eight per centum of the amount insured by the policy;
(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;
|
[Five paise]
[Five paise]
|
Five 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;
where the insurance shall be made for any time exceeding six months
and not exceeding twelve months.
|
[Ten paise]
[Ten paise]
|
[Five paise]
[Five 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;
|
[Twenty-five paise]
|
|
(ii) in any other case:
|
[Fifty paise]
|
|
and
(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.
|
[Five 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.
|
[Ten 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 [Five
paise] for every Rs. 1,000 or part thereof the maximum amount which may
become payable under it.
|
|
CC.--Insurance by way of Indemnity against liability to pay damages 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 (8
of 1923), for every Rs. 100 or part thereof payable as premium.
|
[Five 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 not exceeding Rs. 250;
|
[Ten paise]
|
[Five paise]
|
|
(ii) for every sum insured exceeding Rs. 250 but not exceeding Rs.
500;
|
[Ten paise]
|
[Five 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.
|
Twenty paise]
|
[Ten paise]
|
|
N.B.--If a policy of group insurance is renewed or otherwise modified
whereby 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.
|
|
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.
|
|
|
E.--Re-Insurance by a Insurance Company, which has granted a Policy of
the nature specified in Division A or Division B of this Article, with
another company by way of indemnity or 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
[Five paise] or more than [Fifty
paise]:
Provided that if the total amount of duty payable is not a multiple of
five paise the total amount shall be rounded off the next higher multiple of
five paise.
|
|
General Exemption:
Letter or 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, nor 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;
|
Rupees five.
|
|
(b) when required in suits or proceedings under the Presidency Small
Causes Courts Act, 1882 (15 of 1882);
|
Rupees five.
|
|
(c) when authorising one person or more to act in a single transaction
other than the case mentioned in clause (a);
|
Rupees six.
|
|
(d) when authorising not more than five person to act jointly
and severally in more than one transaction or generally;
|
Rupees fifty.
|
|
(e) when authorising more than five but not more than ten persons to
act jointly and severally in more than one transaction or generally;
|
Rupees one hundred.
|
|
(f) when given for consideration and authorising the attorney to sell
any immovable property;
|
The same duty as a Conveyance (No. 23) for the market value of the
property.
|
|
[(g) when given to a promoter or developer, by
whatever name called, for construction on, or sale of, or transfer (in any
manner whatsoever) of, any immovable property--
|
|
|
(i) where the market value of the property does not exceed rupees
thirty lakh;
|
Rupees five thousand.
|
|
(ii) where the market value of the property exceeds rupees thirty lakh
but does not exceed rupees sixty lakh;
|
Rupees seven thousand.
|
|
(iii) where the market value of the property exceeds rupees sixty lakh
but does not exceed one crore;
|
Rupees ten thousand.
|
|
(iv) where the market value of the property exceeds rupees one crore
but does not exceed rupees one and half crore;
|
Rupees twenty thousand.
|
|
(v) where the market value of the property exceeds rupees one and half
crore but does not exceed rupees three crore;
|
Rupees forty thousand.
|
|
(vi) where the market value of the property exceeds rupees three
crore;
|
Rupees seventy-five thousand.
|
|
Explanation.--
Where the Proper Stamp-duty is paid under clause (f) of Article 5 on a
promoter's or Developer's agreement between the same parties in respect of
the same property, the Proper Stamp-duty under this clause shall be rupees
fifty.].
|
|
|
(h) when irrevocable authority is given to the attorney to sell
immovable property;
|
The same duty as a Conveyance (No. 23) for the market value of the
property.
|
|
(i) in any other case.
|
Rupees six for each person authorised.
|
|
Explanation.--For the purposes of this article,--
|
|
|
(1) more persons than one when belonging to the same firm shall be
deemed to be one person;
|
|
|
(2) "promoter" means a person who constructs or causes to be
constructed a building on a plot of land for the purpose of transfer of such
building by sale, gift or otherwise to any other person or to a company,
co-operative society or association of persons, and includes--
|
|
|
(i) his assignee, if any,
|
|
|
(ii) the person who constructs, and the person who transfers by sale,
gift or otherwise, the building, if the two are different persons.
|
|
|
(iii) the Government,
|
|
|
(iv) an undertaking of the Government,
|
|
|
(v) any board, company, corporation, firm or other association of
persons, established by or under any law for the time being in force, or
|
|
|
(vi) a developer who, develops or reclaims a plot of land.
|
|
|
N.B.--The term "registration" includes every operation
incidental to registration under the Indian Registration Act, 1908 (16 of
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;
|
[Five paise]
|
|
(ii) when the amount or value exceeds Rs. 250 but does not exceed Rs.
1,000;
|
[Ten paise]
|
|
(iii) in any other case;
|
[Fifteen paise].
|
|
[(b) when payable otherwise than on demand.
|
One-fifth of the duty as applicable to Bill of Exchange No. 13 of
Schedule I) for the same amount payable otherwise 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.
|
Rupees ten.
|
|
51. Protest by the Master of a Ship, that is to say, any declaration
of the particular 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.
|
Rupees ten.
|
|
See also Note of Protest by the Master of a Ship (No. 44).
|
|
|
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 in or are
divided into shares and transferable, (b) a local authority, or (c)
proprietors, members or contributors to the funds of any institutions.
|
[Fifteen paise]
|
|
53. Receipt, as defined by section 2(23) for any money or other
property the amount or value of which exceeds [five
thousand rupees].
|
One rupee.
|
|
Exemptions:
|
|
|
Receipts--
|
|
|
(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 of allowances by non-commissioned 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 person
from whose pay or allowances the sum comprised in the receipt has been
assigned is a non-commissioned or petty officer, soldier, sailor or airmen 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 non-commissioned or petty
officers, soldiers, sailors or airmen and not serving the Government in any
other capacity;
|
|
|
(g) given by a headman or lambarder for land-revenue or taxes
collected by him;
|
|
|
(h) given for money or securities for money deposited in the hands of
any banker, 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;
|
The same duty as a Conveyance (No. 23) for the amount of such
consideration as set forth in the Reconveyance.
|
|
(b) in any other case
|
Rupees one hundred.
|
|
55. Release, that is to say, any instrument (not being such a release
as is provided for by section 23A), 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 a Bond (No. 15) for such amount or value as set forth
in the release.
|
|
(b) in any other case.
|
Rupees fifty.
|
|
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 a 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 discharge of a liability, or 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 any other case.
|
Rupees fifty.
|
|
Exemptions:
|
|
|
Bond or other Instrument, when executed--
|
|
|
(a) by headmen nominated under rules framed in accordance with the
Bengal Irrigation Act, 1876 (Bengal Act III of 1876), section 99, for the due
performance of their duties under that Act;
|
|
|
(b) by any person for the purpose of guaranteeing that the local
income derived from private subscriptions to a charitable dispensary or
hospital, or any other object of public utility shall not be less than a
specified sum per mensem--
|
|
|
(c) ***
|
|
|
(d) executed by persons taking advances under the Land Improvement
Loans Act, 1883 (XIX of 1884) or the Agriculturists' Loans Act, 1884 (XII of
1884), or by their sureties, as security for the repayment of such advances;
|
|
|
(e) executed 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 Conveyance (No. 23) on the market value of the
immovable property for the settlement thereof for the purpose referred to in
sub-clause (b) of clause (24) of section 2, and the same duty as a Bottomry
Bond (No. 16) for the settlement of any other property for other purposes for
a sum equal to the market value of the property which is the subject-matter
of such settlement:
Provided that where an agreement to settle is stamped with the stamp
required for an instrument of settlement, and an instrument of settlement in
pursuance of such agreement is subsequently executed, the duty on such
instrument shall not exceed rupees five.
|
|
Exemption:
|
|
|
Deed of dower executed on the occasion of a marriage between
Muhammadans.
|
|
|
B.--Revocation of--
|
The same duty as a Conveyance (No. 23) on the market value of the
immovable property for settlement thereof for the purpose referred to in
sub-clause (b) of clause (24) of section 2, and the same duty as a Bottomry
Bond (No. 16) for the settlement of any other property for other purposes for
a sum equal to the market value of such property, but not exceeding rupees
thirty.
|
|
See also Trust (No. 64).
|
|
|
59. Share-warrants to bearer issued under the Companies Act, 1956 (1
of 1956).
|
One and a half times duty payable on a Conveyance (No. 23) for a
consideration equal to the nominal amount of the shares specified in the
warrant.
|
|
Exemptions:
|
|
|
Share-warrant when issued by a company in pursuance of the Companies
Act, 1956, section 114, to have effect only upon payments as composition for
that 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 centum of the additional capital so issued.
|
|
|
Scrip. See Certificate (No. 19).
|
|
|
60. Shipping Order for or relating to the conveyance of goods on board
of any vessel.
|
Twenty paise.
|
|
[61. Surrender of lease, when such lease is
chargeable with duty;
|
Rupees one hundred irrespective of the term of lease.
|
|
Exemption:
|
|
|
Surrender of the 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;
|
[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) for a
consideration equal to the face amount of the debentures.]
|
|
(c) of any interest secured by a bond, mortgage-deed in respect of
which duty has been paid under Article No. 40 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.
|
Rupees fifteen.
|
|
(d) of any property under the Administrator-General's Act 1913 (III of
1913), section 25;
|
Rupees twenty.
|
|
(e) of any trust-property without consideration from one trustee to
another trustee, or from a trustee to a beneficiary:
|
Rupees ten or such smaller amount as may be chargeable under clauses
(a) to (c) of this Article.
|
|
[Provided that if by any one instrument the
interest secured by several bonds, mortgage-deeds or policies of insurance is
transferred, the duty payable in respect of such instrument shall be the
aggregate of the duties which would have been payable if separate instruments
of transfer were executed in respect of each such bond, mortgage-deed or
policy of insurance.]
|
|
|
Exemptions:
|
|
|
Transfer 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 documents of title to 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 a Conveyance (No. 23) for the market value of the
property.
|
|
Exemption:
|
|
|
Transfer of any lease exempt from duty.
|
[Provided that in any case when an agreement relating
to assignment or lease-cum-sale is executed and registered with the ad
valorem stamp-duty required under the proviso to article 5(d) and in
furtherance of such agreement--
(a) if the final assignment or lease-cum-sale is made, within four
years from the date of agreement or within two years from the date of
completion or occupancy certificate issued by appropriate authority or from
the date of procurement of electric connection, whichever is earlier, in
favour of the original purchaser or in favour of the member(s) of his or her
family, the market value of the property as assessed at the time of
registration of such agreement shall be treated as the market value of the
property for the purpose of determination of chargeability at the time of
registration of the final assignment or lease-cum-sale and the stamp-duty to
be paid on such assignment or lease-cum-sale, shall be difference between the
duty payable and the duty already paid under the proviso to article 5(d) at
the time of registration of the agreement or rupees ten, whichever is
greater.]
(b) if the final assignment or lease-cum-sale is made beyond the time
limit as specified in clause (a), in, favour of the original purchaser or in
favour of the member(s) of his/her family, the market value of the property
shall be reassessed at the time of registration of such assignment or
lease-cum-sale and the stamp-duty to be paid on such assignment or
lease-cum-sale, shall be the difference between the duty payable and the duty
already paid under the proviso to article 5(d) at the time of registration of
the agreement or rupees ten, whichever is greater:
Provided further that the above provisions shall not be applicable if
final assignment or lease-cum-sale is made in favour of any person or persons
other than those specified therein.
Explanation.--
For the purpose of this article, the expression "member of a
family" shall have the same meaning as defined in article 33.]
|
|
64. Trust--
|
|
|
A.--Declaration of--
|
|
|
of, or concerning, any property when made by any writing not being a
Will.
|
The same duty as a Bottomry Bond (No. 16) for a sum equal to the
amount or value of the property concerned, as set forth in the instrument but
not exceeding rupees twenty-five.
|
|
B.--Revocation of--
of, or concerning, any property when made by any instrument other than
a Will.
See also Settlement (No. 58)
Valuation.--See Appraisement (No. 8).
Vakil.--See Entry as a Vakil (No. 30)
|
The same duty as a Bottomry Bond (No. 16) for a sum equal to the
amount or value of the property concerned, as set forth in the instrument but
not exceeding rupees twenty-five.
|
|
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 or wharf, such
instrument being signed or certified by or on behalf of the person in whose
custody such goods may be.
|
Rupee one.
|
Schedule West Bengal - SCHEDULE II
Schedule II
[Repealed
by Section 3 and Schedule II of the Repealing and Amending Act, 1914 (X of
1914)]
[1] Substituted by the Finance Act, 2019, w.e.f.
01.07.2020, for the following:-
"(1) "Banker" includes a bank and any person acting as a
banker;"
[2] Inserted by the Finance Act, 2019, w.e.f.
01.07.2020.
48. Substituted by the Finance Act, 2019, w.e.f. 01.07.2020, for the
following:-
[3]
Substituted
by Act 43 of 1955, Section 2, for "the States" w.e.f. 1-4-1956.
[4] Inserted by the Finance Act, 2019, w.e.f.
01.07.2020.
48. Substituted by the Finance Act, 2019, w.e.f. 01.07.2020, for the
following:-
[5]
Clause
(8) omitted by the A.O. 1937.
[6]
Substituted,
by Act 43 of 1955, Section 2, for "the States" w.e.f. 1-4-1956,
for "the L.G."
[7]
Substituted
by the A.O. 1950, for "collecting Government".
[8]
Substituted
by Act 43 of 1955, Section 2, for "the States" w.e.f. 1-4-1956.
[9] Inserted by the Finance Act, 2019, w.e.f.
01.07.2020.
48. Substituted by the Finance Act, 2019,
w.e.f. 01.07.2020, for the following:-
[10]
Substituted
by Act 43 of 1955, Section 2, for "the States" w.e.f. 1-4-1956.
[11]
Clause
(12A), Inserted by the A.O. 1937, omitted, ibid.
[12]
Clause
(12A), Inserted by the A.O. 1937, omitted, ibid.
[13]
Inserted
by Act 43 of 1955, Section 4 w.e.f. 1-4-1956.
[14] Substituted by the Finance Act, 2019, w.e.f.
01.07.2020, for the following:-
"(14) "Instrument" includes every document by which any
right or liability is, or purports to be, created, transferred, limited,
extended, extinguished or record;""
[15]
Inserted
by Act 15 of 1904, Section 2.
[16] Substituted by the Finance Act, 2019, w.e.f.
01.07.2020, for the following:-
"[(16A) "Marketable security" means a security of such a
description as to be capable of being sold in any stock market in [India]
or in the United Kingdom ;]"
[17] Substituted by the Finance Act, 2019, w.e.f.
01.07.2020, for the following:-
"[(16A) "Marketable security" means a security of such a
description as to be capable of being sold in any stock market in [India]
or in the United Kingdom ;]"
[18]
The
word "and" and sub-Clause (c) omitted by Act 5 of 1906, Section 2.
[19]
Substituted
clause (c) and the word "and" prefixed thereto omitted by Act 5 of
1906, Section2.
[20]
Inserted
by Act 43 of 1955, Section 4 w.e.f. 1-4-1956.
[21]
The
word "and" omitted by Act 18 of 1928, Section 2 and Schedule 1.
[22]
?Inserted by Act 15 of 1904, Section 2.
[23]
?Inserted by Act 15 of 1904, Section 2.
[24]
The
word "and", omitted by Act 18 of 1928, Section 2 and Schedule 1,
omitted by A.O. 1950.
[25]
Inserted
by Act 18 of 1928, Section 2 and Schedule I.
[26] . Now the Army Act, 1950 (46 of 1950).
[27]
Clause
(26), added by the A.O. 1950, omitted by Act 43 of 1955, Section 4 w.e.f.
1-4-1956.
[28]
Inserted
vide Finance (no.2) Act 2004.
[29]
Inserted
by the Finance Act, 2019, w.e.f. 01.07.2020.
[30]
Substituted
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
[31]
Added
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
[32]
Substituted
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
[33]
Inserted
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
[34]
Omitted
by Indian Stamp (West Bengal Amendment) Act, 1987 (Act 15 of 1987).
[35]
Inserted by Act 12 of
2012, Section 35 and Sch. (w.e.f. 01.02.2012).
[36]
Inserted by Act No. 12 of
2012.
[37]
Inserted
by the Banking Laws (Amendment) Act, 2012.
[38]
Inserted
by Act No. 4 of 2013.
[39]
Inserted by the Enforcement
of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions
(Amendment) Act, 44 of 2016, pub. in T.N.G. Gaz., Issue No. 50, dated 21-12-2016,
w.e.f. 01-09-2016.
[40]
Inserted by Act No. 4 of 2016.
[41]
Substituted
by A. O. 1950, for" collecting Government".
[42]
The
words "written in any Oriental Language" omitted by Act 43 of
1955, Section 5 w. e. f. 1-4-1956.
[43]
Inserted
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
[44]
Substituted
by Act 5 of 1927, Section 5, for "promissory note or
cheque."
[45]
Substituted
by Act 19 of 1958, Section 7, for "with the duty of one anna"
w.e.f.1-10-1958.
[46]
Substituted
by Act 5 of 1927, Section 5, for note or cheque.
[47]
Substituted
by Act 5 of 1927, Section 5, for note or cheque.
[48]
Substituted
by Act 5 of 1927, Section 5, for note or cheque.
[49]
Inserted
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
[50]
Substituted
by Indian Stamp (West Bengal Amendment) Act, 2012 (Act 33 of 2012).
Substituted by west Bengal ACt XV of
1987 w.e.f. 01.07.1988.
Substituted by the W.B. Finance Act,
2018 (w.e.f. 01.02.2018) for the following :-
Substituted by the W.B. Finance Act,
2018 (w.e.f. 01.02.2018) for the following :-
Substituted by the W.B. Finance Act,
2018 (w.e.f. 01.02.2018) for the following :-
Substituted by the W.B. Finance Act,
2018 (w.e.f. 01.02.2018) for the following :-
Substituted by the W.B. Finance Act,
2018 (w.e.f. 01.02.2018) for the following :-
Substituted by the W.B. Finance Act,
2018 (w.e.f. 01.02.2018) for the following :-
Substituted by S.O. 130(E), dated
28.01.2004 as amended by S.O. 2189(E), dated 12.09.2008 (w.e.f. 01.03.2004) for
the following :-
|
"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;
|
Twenty
paise.
|
|
|
where
it exceeds Rs. 10 and does not exceed Rs. 50;
|
Forty
paise.
|
|
where
it exceeds Rs. 50 and does not exceed Rs. 100;
|
Seventy-five
paise.
|
|
where
it exceeds Rs. 100 and does not exceed Rs. 200;
|
One
rupee and fifty paise.
|
|
where
it exceeds Rs. 200 and does not exceed Rs. 300;
|
Two
rupees and twenty five paise.
|
|
where
it exceeds Rs. 300 and does not exceed Rs. 400;
|
Three
rupees.
|
|
where
it exceeds Rs. 400 and does not exceed Rs. 500;
|
Three
rupees and seventy five paise.
|
|
where
it exceeds Rs. 500 and does not exceed Rs. 600;
|
Four
rupees and fifty paise.
|
|
|
where
it exceeds Rs. 600 and does not exceed Rs. 700;
|
Five
rupees and twenty five paise.
|
|
where
it exceeds Rs. 700 and does not exceed Rs. 800;
|
Six
rupees.
|
|
where
it exceeds Rs. 800 and does not exceed Rs. 900;
|
Six
rupees and seventy five paise.
|
|
where
it exceeds Rs. 900 and does not exceed Rs. 1,000; and
|
Seven
rupees and fifty paise.
|
|
|
for
every Rs. 500 or part thereof in excess of Rs. 1,000;
|
three
rupees and 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;
|
Seventy-five
paise.
|
|
|
where
it exceeds Rs. 50 but does not exceed Rs. 100;
|
One
rupee and fifty paise.
|
|
|
where
it exceeds Rs. 100 but does not exceed Rs. 200;
|
Three
rupees.
|
|
where
it exceeds Rs. 200 but does not exceed Rs. 300;
|
Four
rupees and fifty paise.
|
|
where
it exceeds Rs. 300 but does not exceed Rs. 400;
|
Six
rupees.
|
|
where
it exceeds Rs. 400 but does not exceed Rs. 500;
|
Seven
rupees and fifty paise.
|
|
where
it exceeds Rs. 500 but does not exceed Rs. 600;
|
Nine
rupees.
|
|
where
it exceeds Rs. 600 but does not exceed Rs. 700;
|
Ten
rupees and fifty paise.
|
|
where
it exceeds Rs. 700 but does not exceed Rs. 800;
|
Twelve
rupees.
|
|
where
it exceeds Rs. 800 but does not exceed Rs. 900;
|
Thirteen
rupees and fifty paise.
|
|
where
it exceeds Rs. 900 but does not exceed Rs. 1,000; and
|
Fifteen
rupees.
|
|
|
for
every Rs. 500 or part thereof in excess of Rs. 1,000.
|
Seven
rupees and 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
debenture to be issued thereunder, whereby the company or body borrowing makes
over, in whole or in part, their property to trustee 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.
Declaration
of any Trust--See Trust (No. 64)."
|
|
|
|
|
|
|
|
Substituted by the West Bengal
Finance Act, 2016 for the following :-
|
"[(a) of any goods
exceeding in value twenty rupees;
|
Fifty
paise for every Rs. 5000 or part thereof;
|
|
|
(aa)
of any goods exceeding in value twenty rupees but not delivered;
|
Ten
paise for every Rs. 5000 or part thereof;
|
|
(ab)
of any goods relating to future and options trading;
|
Ten
paise for every Rs. 5000 or part thereof;
|
|
(ac)
of any goods relating to forward contract of commodities traded through an
association or otherwise;
|
Ten
paise for every Rs. 5000 or part thereof.]"
|
|
|
|
|
|
Substituted by the West Bengal
Finance Act, 2017 (w.e.f. 07.03.2017) for the following :-
Substituted by the West Bengal
Finance Act, 2017 (w.e.f. 07.03.2017) for the following :-
Substituted by the West Bengal
Finance Act, 2017 (w.e.f. 07.03.2017) for the following :-
Substituted by the W.B. Finance Act,
2016 for the following :-
|
"(b)
of any stock or marketable security exceeding in value twenty rupees but not
being a Government security;
|
Fifty
paise for every Rs.5,000 or part thereof of the value of the stock or
security."
|
Substituted by S.O. 130(E), dated
18.01.2004 as amended by S.O. 2189(E), dated 12.09.2008 (w.e.f. 01.03.2004).
|
"(b)
when payable otherwise than on demand.
|
[One-half
of the rates specified in respect of Bill of Exchange in items (b) and (c) of
Article 13:
Provided
that the rates on stamp duty specified in column 2 shall not apply to usance
Bills of Exchange or promissory notes drawn or made for securing finance from
the Reserve Bank of India, Industrial Finance Corporation of India,
Industrial Development Bank of India, State Financial Corporations,
Commercial Banks and Co-operatives Banks for (a) bona fide commercial or
trade transactions, (b) seasonal, agricultural operations or the marketing of
crops, and (c) production or marketing activities of cottage and small scale
industries and such instruments shall continue to bear the rates of stamp
duty at one-fifth of the rates specified against the said items (b) and (c)
of Article 13.
Explanation
1: For the purposes of the proviso--
(a)
the expression "agricultural operation" includes animal husbandry
and allied activities jointly undertaken with agricultural operations;
(b)
"crops" include products of agricultural operations;
(c)
the expression "marketing of crops" includes the processing of
crops prior to marketing by agricultural or any organisation of such
producer.
Explanation
2: The duty chargeable shall wherever necessary be reduced off to the next
five paise.]"
|
* Provided
that the rates on stamp duty specified in column (2) shall not apply to usance
Bill of Exchange or promissory notes drawn or made for securing finance from
the Reserve Bank of India, Industrial Finance Corporation of India, Industrial
Development Bank of India, State Financial Corporations, Commercial Banks and
Co-operatives Banks for (a) bona fide commercial or trade transactions, (b)
seasonal, agricultural operations or the marketing of crops, or (c) production
or marketing activities of cottage and small scale industries and such instruments
shall bear the rate of stamp duty at one-fifth of the rate mentioned in column
(2) against items (b) and (c) in Article 13 and item (b) in Article 49 of
Schedule I of the Indian Stamp Act, 1899 (2 of 1899).
Explanation
1.--For the purposes of the proviso--
(a) the
expression "agricultural operation" includes animal husbandry and
allied activities jointly undertaken with agricultural operations;
(b)
"crops" include products of agricultural operations;
(c) the
expression "marketing of crops" includes the processing of crops
prior to marketing by agricultural producers or any organisation of such
produce Rs.
Substituted by S.O. 130(E), dated
28.01.2004 (w.e.f. 01.03.2004) for the following :-
Clauses (a) and (b) of Art. 62 in
respect of shares and debentures are Union subject and included in Schedule I.
Stamp duty rate under Cl. (a) or Art. 62 under the Bengal Act stood repealed by
S. 8 of the Indian Stamp (Amendment) Act, 43 of 1955. [See Important
Notification at page 164]
Substituted by by S.O. 130(E), dated
28.01.2004 (w.e.f. 01.03.2004) for the following :-