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Sections
Section 1 - Short title and commencement
INDIAN
STAMP (CHHATTISGARH AMENDMENT) ACT, 2014
Preamble - THE INDIAN STAMP
(CHHATTISGARH AMENDMENT) ACT, 2014
THE INDIAN STAMP
(CHHATTISGARH AMENDMENT) ACT, 2014
[Act No. 09 of 2014][1]
[26th March, 2014]
PREAMBLE
An Act further to
amend the Indian Stamp Act, 1899 in its application to the State of
Chhattisgarh.
Be
it enacted by the Chhattisgarh Legislature in the Sixty-fifth Year of the
Republic of India, as follows: --
Section 1 - Short title and commencement
(1) This Act may be called the Indian Stamp
(Chhattisgarh Amendment) Act, 2014.
(2) It shall come into force from the date of its
publication in the Official Gazette.
Section 2 - Amendment of Indian Stamp Act, 1899 (Central Act No. 2 of 1899), in its application to the State of Chhattisgarh
The
Indian Stamp Act, 1899 (No. 2 of 1899), (hereinafter referred to as the
Principal Act) in its application to the State of Chhattisgarh, shall be
amended in the manner hereinafter provided.
Section 3 - Amendment of Schedule 1-A
In
Schedule 1-A of the Principal Act, the following amendment shall be made,
namely: --
(1) For the corresponding entries in column (2) of
Article 15, the words "Two percent of the amount or value secured,"
shall be substituted.
(2) After Article 20, the following Article shall be
inserted, namely: --
"20-A.
Clearance List:--
|
(a) If
relating to the transactions for the purchase or sale of Government
securities submitted to the clearing house of a stock exchange. |
One rupee
for every rupees ten thousand or part thereof in respect of each of the
entries in such list on the value of securities calculated at the making up
price or the contract price, as the case may be, subject to a maximum of
rupees one thousand. |
|
(b) If
relating to the transactions for the purchase or sale of share scrip,
debenture, stock or other marketable security of like nature in or of an
incorporated company or other corporate body, submitted to the clearing house
of a stock exchange. |
One rupee
for every rupees ten thousand or part thereof in respect of each of the
entries in such list on the value of securities calculated at the making up
price or the contract price, as the case may be." |
(3) For Article 33 and entries in corresponding column
(1) and (2), the following shall be substituted, namely: --
"33.
Gift, Instrument of, not being a Settlement (No. 58) or Will or Transfer (No.
62):--
|
(a) When
the donee is not a family member of the donor; |
The same
duty as a Conveyance (No. 23) for a market value equal to the market value of
the property which is the subject matter of gift; |
|
(b) When
the donee is a family member of the donor; |
At the
rate of half percent of the market value of the property which is the subject
matter of the gift. |
Explanation.--For this purpose, family in relation
to the donor shall mean the donor's father, mother, husband or wife, son,
daughter, daughter-in-law, brother, sister and grandchildren."
(4)
For
Article 45, and entries in corresponding column (1) and (2), the following
shall be substituted, namely: --
"45. Partition Instrument of [as defined in
clause (15) of Section 2]
|
(a) Where the property involved in the partition is converted for non
agricultural purpose or it meant for an agricultural use; |
Rupee two thousand for each shareholder. |
|
(b) Where the property involved in the partition is agricultural land: |
Rupees One hundred for each shareholder. |
|
Provided that where there is neither any dispute nor any case pending
in any Court regarding the land to be partitioned: Provided further that the' land being partitioned is not within the
provisions of ceiling; |
No duty chargeable |
|
(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 stamps required for an instrument of
partition and an instrument of partition in pursuance of such order or award
is subsequently executed. |
Rupees ten." |
(5)
For
clause (f-1) of Article 48 and entries in corresponding column (1) and (2), the
following shall be substituted, namely: --
"48. (f-1) when given without consideration
and authorising the agent to sell, gift, exchange or permanently alienate any
immovable property situated in the State of Chhattisgarh.
|
(a) For a period not exceeding Rupees one thousand, two years from the
date of its execution; (b) For a period exceeding two years from the date of its execution or
when it is irrevocable or when it does not purport to be for any definite
term; |
The same duty as Conveyance (No. 23) on the market value of such
property. |
|
(c) When given to father, mother, wife or husband, son, daughter,
brother or sister in relation to the executants authorising such person and
when it does not purport to be for any definite term. |
Rupees one thousand." |
(6)
For
Article 55, and entries in corresponding column (1) and (2), the following
shall be substituted, namely: --
"55. Release, that is to say, any instrument
(not being such release as is provided by Section 23-A) whereby a person
renounces a claim upon another person or against any specified property;
|
(a) When they are not members of family;' |
The same duty as Bond (No. 15) for the amount of consideration or
market value of the property, whichever is higher, on the share over which
the claim is relinquished. |
|
(b) When they are members of family; |
Half percent of the consideration or the market value of the property,
whichever is higher, on the share over which the claim is relinquished. |
Explanation.--For the purpose of clause (b), family
in relation to the person shall mean the person's father, mother, husband or
wife, son, daughter, daughter-in-law, brother, sister and grandchildren."