RAJASTHAN
STAMP (AMENDMENT) ACT, 2004
Preamble - RAJASTHAN STAMP (AMENDMENT) ACT, 2004
THE RAJASTHAN STAMP (AMENDMENT) ACT, 2004
[Act No. 07 of 2004]
[09th August, 2004]
PREAMBLE
An Act to
amend the Rajasthan Stamp Act, 1998.
Be it enacted by the Rajasthan
State Legislature in the Fifty-fifth Year of the Republic of India, as
follows:-
Section 1 - Short title and commencement
(1)
This Act may be called the Rajasthan Stamp (Amendment) Act, 2004.
(2)
It shall be deemed to have come into force on and from 27th day of
May, 2004.
Section 2 - Amendment of section 2, Rajasthan Act No. 14 of 1999
In section 2 of the
Rajasthan Stamp Act, 1998 (Act No. 14 of 1999), hereinafter referred to as the
principal Act, the existing clause (xxxvi) shall be deleted.
Section 3 - Insertion of new section 9-A, Rajasthan Act No. 14 of 1999
After section 9 and before
section 10 of the principal Act, the following new section shall be inserted,
namely:-
"9-A. Power to reduce
or remit penalty or interest.-
The State Government, if
satisfied that it is necessary to do so in the public interest, may, by
notification published in the Official Gazette, reduce or remit the penalty or
interest or both imposed or chargeable under this Act".
Section 4 - Amendment of section 32, Rajasthan Act No. 14 of 1999
In section 32 of the
principal Act, the expression "and" appearing at the end of clause
(f) thereof shall be deleted and after clause (f), so amended, the following
new clause shall be inserted, namely:-
"(ff) in the case of a
works contract or a sub-contract by the contractor or sub-contractor, as the
case may be; and",
Section 5 - Amendment of section 55, Rajasthan Act No. 14 of 1999
In sub-section (4) of
section 55 of the principal Act, for the existing word "refuse", the
word "refute" shall be substituted.
Section 6 - Amendment of section 58, Rajasthan Act No. 14 of 1999
In section 58 of the
principal Act, for the existing expression "section 60", the
expression "section 59" shall be substituted.
Section 7 - Amendment of sections 67, 68, 69 and 70, Rajasthan Act No. 14 of 1999
In sections 67, 68, 69 and
70 of the principal Act,-
(i)
for the existing expressions "Tax Tribunal", wherever
occurring, the expressions "High Court" shall be substituted; and
(ii)
for the existing expressions "Tribunal", wherever
occurring, the expressions "Court" shall be substituted.
Section 8 - Amendment of the Schedule, Rajasthan Act No. 14 of 1999
In the Schedule of the
principal Act,-
(a)
in Article 4, for the existing expression "Five rupees" appearing
under column No. 2, the expression "Ten rupees" shall be substituted;
(b)
in Article 5, after the existing clause (b) and before the
existing clause (c), the following clauses shall be inserted, namely:-
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"(bb) if relating to purchase or
sale of an immovable property, when possession is neither given nor agreed to
be given.
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Three percent of the total
consideration of the property as set forth in the agreement or memorandum of
agreement:
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Provided that the stamp duty paid on
such agreement shall at the time of the execution of a conveyance in
pursuance of such agreement subsequently be adjusted towards the total amount
of duty chargeable on the conveyance if such conveyance deed is executed
within three years from the date of agreement.
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(bbb) if relating to secure the
repayment of a loan or debt made by a bank or Finance Company.
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0.1 percent of the amount of loan or
debt.
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(bbbb) if relating to giving
authority or power to a promoter or a developer, by whatever name called, for
construction on, or development of, any immovable property;
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One percent of the market value of
the property,"
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(c) for the
existing Article 6, the following shall be substituted, namely:-
"6. Agreement or any
other document (memorandum etc.) relating to the deposit of title deeds, pawn
or pledge i.e. any documentary proof 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, or
(2)
the pawn or pledge of movable property, where such deposit, 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,-
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(a) if such loan or debt is repayable
on demand or more than three months from the date of the instrument
evidencing the agreement or proof of deposit of title deeds.
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0.1 percent of the amount of loan or
debt.
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(b) if such loan or debt is repayable
not more than three months from the date of such instrument.
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Half the duty payable under clause
(a) for the amount secured.
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Exemption: instruments of
pawn or pledge of agricultural produce, if unattested."
(d) in
Article 21, For the existing clause (i), the following shall be substituted,
namely:-
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"(i) if relating to immovable property.
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Eleven percent of the market value of
the property."
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(e)
In Article 33,-
(i)
for the existing clause (b), the following shall be substituted,
namely:-
"(b) where the lease
is granted for a fine or premium or for money advanced or development charges
advanced or security charges advanced and where no rent is reserved:-
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(i)
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where the lease purports to be for a
term of not more than twenty years.
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The same duty as on a conveyance (No.
21) for a consideration equal to the amount or value of such fine, premium,
advance as set forth in the lease.
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(ii)
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where the lease purports to be for a
term in excess of twenty years, or in perpetuity or where the term is not
mentioned.
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The same duty as on a conveyance (No.
21) on the market value of the property which is the subject matter of the
lease."
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(ii) for the
existing clause (c), the following shall be substituted, namely:-
"(c) where the lease
is granted for a fine or premium or for money advanced or development charges
advanced or security charges advanced in addition to rent reserved,-
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(i)
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where the lease purports to be for a
term of not more than twenty years.
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The same duty as on a conveyance (No.
21) for a consideration equal to the amount or value of such fine premium, or
advance and amount of average rent of two years as set forth in the lease.
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(ii)
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where the lease purports to be for a
term in excess of twenty years, or in perpetuity or where the term is not
mentioned;
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The same duty as on a conveyance (No.
21) on the market value of the property which is the subject matter of the
lease."
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(iii) after
clause (c) so substituted, the following proviso shall be inserted, namely:-
"Provided that in any
case when an agreement to lease, is stamped with the stamp required for a
lease, and a lease in pursuance of such agreement is subsequently executed, the
duty on such lease shall not exceed ten rupees."
(f)
in Article 37, in column No. 2 against clause (b), for the
existing expression "(No. 16)" the expression "(No. 14)"
shall be substituted;
(g)
in Article 39, for the existing expression "Five rupees"
appearing under column No. 2 the expression "Ten rupees" shall be
substituted;
(h)
in Article 44, after the existing clause (c) and before the
existing clause (d), the following new clause shall be inserted, namely:-
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"(cc) when authorizing any
person (except a power of attorney executed in favour of father or mother or
brother or sister or wife or husband or son or daughter or grandson or grand
daughter) to transfer any immovable property;"
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Rupees five hundred."
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(i) in Article
48, for the existing clause (a), the following shall be substituted, namely.-
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"(a) If the release deed of an
ancestral property or part thereof is executed by or in favour of brother or
sister (children of renouncer's parents) or son or daughter or son of
predeceased son or daughter of a predeceased son or father or mother, or
spouse of the renouncer or the legal heirs of the above relatives.
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One hundred rupees." and
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(j) after the
existing Article 57, the following new Article shall be inserted, namely:-
"58. Works contract
that is to say a contract for works and labour or services involving transfer
of property in goods (whether as goods or in some other form) in its execution
and includes a sub-contract:-
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(a) Where the amount or value set
forth in such contract does not exceed Rs. 10 lacs.
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One hundred rupees.
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(b) Where it exceeds Rs. 10 lacs but
does not exceed Rs. 50 lacs.
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Five hundred rupees.
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(c) Where it exceeds Rs. 50 lacs.
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One thousand rupees."
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Section 9 - Repeal and savings
(1)
The Rajasthan Stamp (Amendment) Ordinance, 2004 (Ordinance No. 5
of 2004) is hereby repealed.
(2)
Notwithstanding such repeal all actions taken or orders made under
the principal Act as amended by the said Ordinance shall be deemed to have been
taken or made under the principal Act as amended by this Act.