-
Sections
Section - 1. Short title and commencement
The Karnataka
Stamp (Amendment) Act, 2023
[04 OF 2024]
[03rd February 2024]
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 herein after appearing; Be it enacted by the
Karnataka State Legislature in the Seventy fourth year of the Republic India as
follows:-
Section - 1. Short title and commencement
(1)
This Act may be
called the Karnataka Stamp (Amendment) Act, 2023.
(2)
It shall come
into force at once.
Section - 2. Amendment of section 30
In the
Karnataka Stamp Act, 1957, (Karnataka Act 34 of 1957) (hereinafter referred to
as the Principal Act) in section 30, in clause (a), for Article No. [52] (b)
and the entries relating thereto, the following shall be substituted, namely:-
"No.
[52] (b) (Transfer of any interest secured by a bond, mortgage deed or policy
of insurance), No. [56] (if relating to paper bank guarantee and e-bank
guarantee).-"
Section - 3. Amendment of the Schedule
In the Principal
Act, in the Schedule,-
(i)
in Article 3, in
column (3), for the words "five hundred rupees", the words "one
thousand rupees" shall be substituted.
(ii)
in Article 4, in
column (3), for the words "twenty rupees", the words "One
hundred rupees" shall be substituted.
(iii)
in Article 5,-
(a)
in clause (b), in
column (3), the words "subject to a maximum of rupees one thousand"
shall be omitted;
(b)
in clause (e), in
sub-clause (ii), in column (3), for the words, "ten paise", the
words, "fifty paise" shall be substituted, and for the words
"subject to a maximum of rupees twenty thousand but not less than rupees
Five hundred", the words "but not less than rupees Five hundred"
shall be substituted;
(c)
in clause (i-d),-
(i)
in sub-clause
(i), in column (3), for the words, "Rupees One hundred", the words
"Rupees Five hundred" shall be substituted; and
(ii)
in sub-clause
(ii) for the entries in column (3), the the following shall be substituted,
namely:-
"Rupees
Five hundred and in addition Rupees Five hundred for every Rupees ten lakhs or
part thereof in excess of Rupees ten lakhs, subject to a maximum of Rupees Ten
lakhs.";
(d)
in clause (i-e),-
(i)
in sub-clause
(i), in column (3), for the words, "Rupees One hundred", the words,
"Rupees Five hundred" shall be substituted; and
(ii)
in sub-clause
(ii)), for the entries in column (3), the following shall be substituted,
namely:-
"Rupees
Five hundred plus rupees hundred for every rupees one lakh or part thereof, in
excess of rupees one lakh."
(e)
in clause (j), in
column (3), for the words, "two hundred rupees" the words, "five
hundred rupees" shall be substituted.
(iv)
in Article 6,-
(a)
in clause (1),-
(i)
in sub-clause
(i), in column (3), for the figures and words, "0.1 percent", the
figures and words "0.5 percent", shall be substituted;
(ii)
in sub-clause
(ii), for the entries in column (3), the following shall be substituted,
namely:-
"0.5
percent of the loan or debt amount";
(b)
in clause (2),-
(i)
in sub-clause (i)
in column (3), for the figures and words, "0.1 percent", the figures
and words "0.5 percent", shall be substituted; and
(ii)
in sub-clause
(ii)), for the entries in column (3), the following shall be substituted,
namely:-
"0.5
percent on the loan or debt amount".
(v)
in Article 8, in
clause (b), in column (3) of, for the words "one hundred rupees", the
words "two hundred rupees" shall be substituted.
(vi)
In Article 10,
for the entries in column (3), the following shall be substituted, namely:-
"Rupees
Five thousand for every rupees ten lakhs or part thereof subject to a maximum
of rupees One Crore."
(vii)
In Article 11, in
clause (b),-
(a)
in sub-clause
(i), in column (3), for the words and figures "3/4 % of the amount or
market value", the words and figures "1 % of the amount or market
value.", shall be substituted;
(b)
in sub-clause
(ii), for the entries in column (3), the following shall be substituted,
namely:-
"1
% of the amount or market value."; and
(c)
in sub-clause
(iii), for the entries in column (3), the following shall be substituted,
namely:-
"1
% of the amount or market value."
(viii)
in Article 12,-
(a)
in clause (a),
for the entries in column (3), the following shall be substituted, namely:-
"Two
Rupee for every one hundred rupees or part thereof subject to minimum of rupees
one hundred."; and
(b)
in clause (b),
for the entries in column (3), the following shall be substituted, namely:-
"Two
Rupee for every one hundred rupees or part thereof subject to minimum of rupees
one hundred."
(ix)
in Article 14,-
(a)
in clause (b), in
column (3), for the words, "One hundred rupees.", the words
"Five hundred rupees", shall be substituted; and
(b)
in clause (c), in
column (3), for the words, "One hundred rupees.", the words,
"Five hundred rupees", shall be substituted.
(x)
in Article 17, in
column (3), for the words "Five hundred rupees.", the words,
"Two thousand rupees", shall be substituted.
(xi)
in Article 19, in
column (3), for the words "Two hundred rupees.", the words "Five
hundred rupees", shall be substituted.
(xii)
in Article 20,-
(a)
in clause (4),-
(i)
in sub-clause
(i), in column (3), for the words, "three percent", the words,
"five percent" shall be substituted and for the words "An amount
equal to one per cent", the words, "An amount equal to five per
cent", shall be substituted; and
(ii)
in sub-clause
(ii) in column (3), for the words, "three percent", the words
"five percent" shall be substituted, and for the words, "An
amount equal to one per cent", the words, "An amount equal to five
per cent", shall be substituted;
(b)
in clause (6),
for the entries in column (3), the following shall be substituted, namely:-
"Two
rupee for every one thousand rupees or part thereof subject to a maximum of
rupees five lakhs.";
(c)
in clause (7), in
column (3), for the words "three percent", the words "five
percent", shall be substituted.
(xiii)
in Article 21,-
(a)
in clause (i), in
column (3), for the words, "five rupees", the words, "twenty
rupees" shall be substituted; and
(b)
in clause (ii),
in column (3), for the words, "ten rupees", the words, "fifty
rupees", shall be substituted.
(xiv)
in Article 22, in
clause (b), in column (3), for the words "five hundred rupees", the
words, "one thousand rupees", shall be substituted.
(xv)
in Article 25, in
column (3), for the words "one hundred rupees", the words "five
hundred rupees" shall be substituted.
(xvi)
in Article 31, in
column (3), for the words "one rupee", the words "ten
rupees" shall be substituted.
(xvii)
in Article 33, in
clause (a), in column (3), for the words "One thousand rupees", the
words, "Five thousand rupees", shall be substituted.
(xviii)
in Article 34,-
(a)
in clause (c),-
(i)
in sub-clause
(i), in column (3), for the words "ten rupees", the words "fifty
rupees", shall be substituted;
(ii)
in sub-clause
(ii), for the entries in column (3), the following shall be substituted,
namely:-
"Fifty
rupees plus five rupees for every rupees one thousand or part thereof in excess
of rupees one thousand.";
(b)
in clause (d),-
(i)
in sub-clause
(i), for the entries in column (3), the following shall be substituted,
namely:-
"Rupees
fifty for every rupees ten thousand or part thereof."; and
(ii)
in sub-clause
(ii), for the entries in column (3), the following shall be substituted,
namely:-
"Rupees
fifty for every rupees ten thousand or part thereof."
(xix)
in Article 39,-
(a)
in clause (a),-
(i)
in sub-clause
(1), in column (3), for the words "Rupees one thousand for each
share", the words "Rupees Five thousand for each share.", shall
be substituted;
(ii)
in sub-clause
(2), in column (3), for the words "Rupees five hundred for each
share.", the words, "Rupees Three Thousand for each share."
shall be substituted;
(b)
in clause (b), in
column (3), for the words "Rupees two hundred and fifty for each
share", the words "Rupees One thousand for each share.", shall
be substituted; and
(c)
in clause (c), in
column (3), for the words, "Rupees two hundred and fifty for each
share", the words, "Rupees One thousand for each share.", shall
be substituted.
(xx)
in Article 40.-
(a)
in clause (B), in
sub-clause (a), in column (3), for the words "three percent", the
words "five percent", shall be substituted;
(b)
in clause (B), in
sub-clause (b), in column (3), for the words "One thousand rupees",
the words, "two thousand rupees", shall be substituted;
(c)
in clause (C), in
sub-clause (a), in column (3), for the words "three percent", the
words "five percent", shall be substituted; and
(d)
in clause (C), in
sub-clause (b), in column (3), for the words "One thousand rupees",
the words "two thousand rupees", shall be substituted.
(xxi)
in Article 40-A,-
(a)
in clause (A),-
(i)
in sub-clause
(a), in column (3), for the words "One thousand rupees", the words
"five thousand rupees", shall be substituted;
(ii)
in sub-clause
(b), for the entries in column (3), the following shall be substituted,
namely:-
"Rupees
Five thousand plus rupees one thousand for every rupees five lakhs or part
thereof, exceeding rupees ten lakhs capital amount, subject to a maximum of
rupees Twenty five lakhs."; and
(b)
in clause (B), in
column (3), for the words, "three percent", the words, "five
percent", shall be substituted.
(xxii)
in Article 41,-
(a)
in clause (a), in
column (3), for the words "one hundred rupees", the words "five
hundred rupees", shall be substituted;
(b)
in clause (b), in
column (3), for the words, "one hundred rupees", the words "five
hundred rupees", shall be substituted;
(c)
in clause (c), in
column (3), for the words, "one hundred rupees", the words "five
hundred rupees", shall be substituted;
(d)
in clause (d), in
column (3), for the words, "two hundred rupees", the words, "one
thousand rupees", shall be substituted;
(e)
in clause (f), in
column (3), for the words "rupees fifty", the words "one hundred
rupees", shall be substituted;
(f)
in clause (g), in
column (3), for the words, "rupees fifty", the words "one
hundred rupees", shall be substituted; and
(g)
in clause (h), in
column (3), for the words, "two hundred rupees", the words,
"five hundred rupees", shall be substituted.
(xxiii)
in Article 44, in
clause (b), in column (3), for the words "one hundred rupees", the
words "two hundred rupees", shall be substituted.
(xxiv)
in Article 45, in
clause (c), in column (3), for the words " rupees one hundred", the
words "rupees two hundred", shall be substituted.
(xxv)in Article 47,-
(a)
in clause (a), in
column (3), for the words "Fifty paise", the words "two
rupees", shall be substituted; and
(b)
in clause (b), in
column (3), for the words, "rupees two hundred", the words, "rupees
five hundred", shall be substituted.
(xxvi)
in Article 51, in
clause (b), in column (3), for the words, "one hundred rupees", the
words "two hundred", shall be substituted.
(xxvii)
in Article 52,-
(a)
in clause (b), in
sub-clause (ii), in column (3), for the words "one hundred rupees",
the words "two hundred rupees", shall be substituted; and
(b)
in clause (c), in
column (3), for the words "one hundred rupees", the words "two
hundred rupees", shall be substituted.
(xxviii)
in Article 54,-
(a)
in clause (i), in
column (3), for the words, "Rupees One Thousand.", the words,
"Rupees Two Thousand.", shall be substituted; and
(b)
in clause (ii),
in column (3), for the words, "Rupees One Thousand.", the words,
"Rupees Two Thousand.", shall be substituted.
(xxix)
after Article 55
the following shall be inserted, namely ; -
"56. if relating to bank guarantee,-
|
(i) if
relating to paper bank guarantee |
Rupees three
hundred
|
|
(ii) if
relating to e-bank guarantee |
Rupees two
hundred
|