INDIAN STAMP (PUNJAB AMENDMENT) ACT, 1974
Preamble - INDIAN STAMP (PUNJAB
AMENDMENT) ACT, 1974
THE INDIAN STAMP (PUNJAB AMENDMENT) ACT, 1974
[Act No. 18 of 1974]
[23rd August, 1974]
PREAMBLE
An Act to amend the Indian Stamp Act, 1899, in its application,
to the State of Punjab.
Be
it enacted by the Legislature of the State of Punjab in the Twenty-fifth Year
of the Republic of India, as follows:--
Section 1 - Short title
This
Act may be called the Indian Stamp (Punjab Amendment) Act, 1974.
Section 2 - Amendment of Schedule I-A of Central Act 2 of 1899
In
Schedule I-A to the Indian Stamp Act, 1899, in its application to the State of
Punjab,--
(1) for entry 23, the following entry shall be
substituted, namely:--
|
Description
of Instrument
|
Proper Stamp
|
Duty
|
|
"23.
Conveyance as defined by section 2(10) not being a Transfer charged or
exempted under No. 62
|
Where
conveyance amounts to sale of
immovable property (a)
|
Other
Conveyances(b)
|
|
Where the
value or amount of the consideration for such conveyance as set
forth
therein does not exceed Rs. 50
|
Four
rupees
|
One rupee
and fifty paise
|
|
Where it
exceeds Rs. 50, but does not exceed Rs. 100 ;
|
Eight
rupees
|
Three
rupees
|
|
Where it
exceeds Rs. 100, but does hot exceed Rs. 200 ;
|
Sixteen
rupees
|
Six rupees
|
|
Where it
exceeds Rs. 200, but does not exceed Rs. 300 ;
|
Twenty-four
rupees
|
Nine
rupees
|
|
Where it
exceeds Rs. 300, but does not exceed Rs. 400 ;
|
Thirty-two
rupees
|
Twelve
rupees
|
|
Where it
exceeds Rs. 400, but does not exceed Rs. 500 ;
|
Forty
rupees
|
Fifteen
rupees
|
|
Where it
exceeds Rs. 500, but does not exceed Rs. 600 ;
|
Forty-eight
rupees
|
Eighteen
rupees
|
|
Where it
exceeds Rs. 600, but does not exceed Rs. 700 ;
|
Fifty-six
rupees
|
Twenty-one
rupees
|
|
Where it
exceeds Rs. 700, but does not exceed Rs. 800 ;
|
Sixty-four
rupees
|
Twenty-four
rupees
|
|
Where it
exceeds Rs. 800, but does not exceed Rs. 900 ;
|
Seventy-two
rupees
|
Twenty-seven
rupees
|
|
Where it
exceeds Rs. 900, but does not exceed Rs. 1,000 ;
|
Eighty
rupees
|
Thirty
rupees
|
|
and for
every Rs. 500 or part thereof in excess of Rs. 1,000. Exemption
|
Forty
rupees
|
Fifteen
rupees
|
|
Assignment
of copyright under the Copyright Act, 1957, Section 18
|
|
|
|
Co-Partnership
Deed. See Partnership (No. 46).";
|
|
|
(2) for entry 33, the following entry shall be
substituted, namely:--
|
Description
of Instrument
|
Proper
Stamp Duty
|
|
"33.
GIFT--Instrument of, not being a settlement (No. 58), or will or Transfer
(No. 62)
|
The same
duty as a Conveyance amounting to sale (No. 23) as levied by this Act for a
consideration equal to the value of the property as set forth in such
instrument
|
|
HIRING
AGREEMENT or agreement for service--
|
|
|
See
Agreement (No. 5)" ; and
|
|
(i) ???for
clause (a) of entry 40, the following clause shall be substituted namely:--
|
Description
of Instrument
|
Proper
Stamp Duty
|
|
"(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 amounting to sale (No. 23) as levied by this Act for a
consideration equal to the value of the property as set forth in such
instrument.".
|
Section 3 - Repeal and saving
(1) The Indian Stamp (Punjab Amendment; Ordinance, 1974
(Punjab Ordinance No. 3 of 1974), is hereby repealed.
(2) Notwithstanding such repeal, anything done or any
action taken or purporting to have been done or taken under the said Ordinance
shall be deemed to have been done or taken under this Act, as if this Act had
commenced on the 30th April, 1974.