INDIAN STAMP (PUNJAB AMENDMENT) ACT, 2001 THE INDIAN STAMP (PUNJAB AMENDMENT) ACT, 2001 [Act No. 14 of 2001] [ 11th December, 2001] An Act further 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 Fifty-second Year
of the Republic of India as follows:-- (1) This Act may be called the Indian Stamp (Punjab Amendment)
Act, 2001. (2) It shall come into force at once. In
the Indian Stamp Act, 1899 (hereinafter referred to as the principal Act), in
its application to the State of Punjab, in section 2, after clause (9), the
following clause shall be inserted, namely:-- "(9-A)
"Commissioner" means the Commissioner of a Division appointed as such
by the State Government;". In
the principal Act, in section 47-A.-- (i) for sub-section (1), the following sub-section
shall be substituted, namely:-- "(1)
If the market value of any property, which is the subject of any instrument on
which duty is chargeable on market value as set forth in such instrument, is
less than even the minimum value as determined in accordance with the rules
made under this Act, the Registering Officer appointed under the Registration
Act, 1908, shall, after registering the instrument, refer the same to the
Collector for determination of the market value of such property and the proper
duty payable thereon."; and (ii) in sub-section (4), for the words "District
Judge", the word "Commissioner" shall be substituted. In
the principal Act, in Schedule 1-A-- (i) in
entry 5, after item (c), the following item, shall be inserted, namely:-- "(cc)
in the case of agreement to sell followed by or evidencing delivery of
possession of the immoveable property agreed to be sold; The same
duty as is leviable under column 2 of entry No. 23 of this Schedule, subject
to the adjustment of duty chargeable at the time of execution of conveyance
made in pursuance of such agreement."; and (ii) in
entry 48, after item (f), the following item shall be inserted, namely:-- "(ff)
when given for consideration and/or for authorising possession of the
immoveable property; The same
duty as is leviable under column 2 of entry No. 23 of this Schedule, subject
to the adjustment of duty chargeable at the time of execution of conveyance
made in pursuance of such agreement.".
Preamble - INDIAN STAMP (PUNJAB
AMENDMENT) ACT, 2001PREAMBLE