KARNATAKA STAMP (AMENDMENT) ACT, 2013

Preamble - THE KARNATAKA STAMP (AMENDMENT) ACT, 2013

THE KARNATAKA STAMP (AMENDMENT) ACT, 2013

[Act No. 29 of 2013]

[11th March, 2013]

PREAMBLE

An Act further to amend the Karnataka Stamp Act, 1957.

Whereas it is expedient further to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), for the purposes hereinafter appearing;

Be it enacted by the Karnataka State Legislature in the Sixty-fourth year of the Republic of India as follows:-

Section 1 - Short title and commencement

(1)     This Act may be called the Karnataka Stamp (Amendment) Act, 2013.

 

(2)     It shall come into force with effect from the first day of April 2013.

Section 2 - Amendment of Schedule

In the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), in the schedule,-

(i)       In article 5, in clause (f), in column 3, the following proviso shall be inserted at the end, namely,-

"Provided that, if the proper stamp duty is paid under clause (ea) of Article 41 on the Power of Attorney, executed between the same parties in respect of the same property, the stamp duty payable on such agreement shall not exceed rupees two hundred';

(ii)      In article 41, in clause (ea), in column 3, the following proviso shall be inserted at the end, namely,-

"Provided that, if the proper stamp duty is paid under clause (f) of Article 5 on the Agreement, executed between the same parties in respect of the same property, the stamp duty payable on such Power of Attorney shall not exceed rupees two hundred."