The Indian Stamp Act, 1899

STAMP-DUTYON INSTRUMENTS

(See section 3)

Description of Instrument Proper Stamp-duty

1 [5. AGREEMENT OR MEMORANDUM OFAN

AGREEMENT—

(a) if relating to the sale of a bill of exchange;

Two annas.

(b) if relating to the sale of a Government security or share in an incorporated company or other body corporate;

Subject to a maximum of ten rupees, one anna for every Rs. 10,000 or part thereof of the value of the security or share.

(c) if not otherwise provided for Eight annas.

Exemptions

Agreement or memorandum of agreement—

(a) for or relating to the sale of goods or merchandise exclusively, not being a NOTEOR MEMORANDUM chargeable under No. 43;

(b) made in the form of tenders to the Central

Government for or relating to any loan;

2* * * *

AGREEMENT TO LEASE. See LEASE (No. 35).

3[6.AGREEMENT RELATING TO DEPO- SIT

OF TITLE-DEEDS, PAWN OR PLEDGE, that is to say, any instrument evidencing an agreement 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, pawn or 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—

(a) if such loan or debt is repayable on demand or more than three months from the date of the instrument evidencing the agreement;

(b) if such loan or debt is repayable not more than three months from the date of such instruments.

Exemption

Instrument of pawn or pledge of goods if unattested.]

7. APPOINTMENT IN EXECUTION OF A POWER, whether of trustees or of property, movable or immovable, where made by any writing not being a will.

The same duty as a Bill of Exchange [No. 13 (b)] for the amount secured.

Half the duty payable on a Bill of Exchange [No.

13 (b)] for the amount secured.

Fifteen rupees.

Description of Instrument Proper Stamp-duty

8. APPRAISEMENT OR VALUATION made otherwise than under an order of the Court in the course of a suit—

(a) where the amount does not exceed Rs. 1,000;

The same duty as a Bond (No. 15) for such amount.

(b)inan other case…………………………….

Exemptions

(a) Appraisement or valuation made for the information of one party only, and not being in any manner obligatory between parties either by agreement or operation of law.

(b) Appraisement of crops for the purpose of ascertaining the amount to be given to a landlord as rent.

Five rupees.

9. APPRENTICESHIP-DEED, including every writing relating to the service or tuition of any apprentice, clerk or servant, placed with any master to learn any profession, trade or employment, not being ARTICLES

OF CLERKSHIP, (No. 11).

Exemption

Instruments of apprenticeship executed by a Magistrate under the 1Apprentices Act, 1850 (XIX of 1850), or by which a person is apprenticed by or at the charge of any public charity.

10. ARTICLES OF ASSOCIATION OF A COMPANY.

Exemption

Articles of any Association not formed for profit and registered under section 26 of the 2 Indian

Companies Act, 1882 (VI of 1882).

See also MEMORANDUM OF ASSOCIATION OF A COMPANY (No.39).

11. ARTICLES OF CLERKSHIP or contract whereby any person first becomes bound to serve as a clerk in order to his admission as an attorney in any High Court.

ASSIGNMENT. See CONVEYANCE (No. 23),

TRANSFER (No. 62), and TRANSFEROF LEASE (No.

63), as the case may be.

ATTORNEY. See ENTRYAS AN ATTORNEY (No.

30) and POWEROF ATTORNEY (No. 48).

AUTHORITY TO ADOPT. See ADOPTION-DEED

(No. 3).

Five rupees.

Twenty-five rupees.

Two hundred and fifty rupees.

Description of Instrument Proper Stamp duty if it exceeds Rs. 500 but does not exceed Rs. 1,000;

One rupee eighty paise. and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000;

One rupee eighty paise.

(iv)where payable more than nine months but not more than one year after date or sight— if the amount of the bill or note does not exceed

Rs. 500;

One rupee twenty five paise. if it exceeds Rs. 500 but does not exceed Rs.

1,000;

Two rupees fifty paise. and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000;

Two rupees fifty paise.

(c)where payable at more than one year after date or sight— if the amount of the bill or note does not exceed Rs. 500; Two rupees fifty paise. if it exceeds Rs. 500 but does not exceed Rs. 1,000; Five rupees. and for every additional Rs. 1,000 or part thereof in excess of Rs. 1,000;

Five rupees.

14. BILL OF LADING (including a through bill of lading).

One rupee.

N.B.—If a bill of lading is drawn in parts, the proper stamp therefore must be borne by each one of the set.]

Exemptions

(a) Bill of lading when the goods therein described are received at a place within the limits of any port as defined under the Indian Ports Act, 1889 (10 of1889), and are to be delivered at another place within the limits of the same port.

(b) Billof lading when executed out of India and relating to property to be delivered in India.

15. BOND [as defined by section 2(5)] not being a DEBENTURE (No. 27) and not being otherwise provided for by this Act, or by the Court-fees Act, 1870 (7 of 1870),— where the amount or value secured does not exceed Rs. 10; Two annas. where it exceeds Rs. 10 and does not exceed Rs. 50; Four annas.

Description of Instrument Proper Stamp duty where it exceeds Rs. 50 and does not exceed Rs. 100 Eight annas. where it exceeds Rs. 100 and does not exceed Rs. 200 One rupee. where it exceeds Rs. 200 and does not exceed Rs. 300 One rupee eight annas. where it exceeds Rs. 300 and does not exceed Rs. 400 Two rupees. where it exceeds Rs. 400 and does not exceed Rs. 500 Two rupees eight annas. where it exceeds Rs. 500 and does not exceed Rs. 600 Three rupees. where it exceeds Rs. 600 and does not exceed Rs. 700 Three rupees eight annas. where it exceeds Rs. 700 and does not exceed Rs. 800 Four rupees. where it exceeds Rs. 800 and does not exceed Rs. 900 Four rupees eight annas. where it exceeds Rs. 900 and does not exceed Rs. 1,100 Five rupees. and for every Rs. 500 or part thereof in excess of Rs. 1,000 Two rupees eight annas.

See ADMINISTRATION BOND (No. 2), BOTTOMRY BOND (No.

16), CUSTOMS BOND (No. 26), INDEMNITY BOND (No. 34),

RESPONDENTIA BOND (No. 56), SECURITY BOND (No. 57).

Exemptions

Bond, when executed by—

(a) headmen nominated under rules framed in accordance with the Bengal Irrigation Act, 1876 (Ben. Act 3 of 1876), section 99, for the due performance of their duties under that Act;

(b) any person for the purpose of guaranteeing that the local income derived from private subscriptions to a charitable dispensary or hospital or any other object of public utility shall not be less than a specifed sum per mensem.

16. BOTTOMRY BOND, that is to say, any instrument where by the master of a sea-going ship borrows money on the security of the ship to enable him to preserve the ship or prosecute her voyage.

The same duty as a Bond

(No. 15) for the same amount.

17. CANCELLATION—Instrument of (including any instrument by which any instrument previously executed is cancelled), if attested and not otherwise provided for.

See also Release (No. 55), Revocation of Settlement (No. 58-B),

Surrender of Lease (No. 61), Revocation of Trust (No. 64-B).

Five rupees.

18. CERTIFICATE OF SALE (in respect of each property put up as a separate lot and sold) granted to the purchaser of any property sold by public auction by a Civil or Revenue Court, or Collector or other Revenue-officer—

(a) where the purchase-money does not exceed Rs. 10; Two annas.

(b) where the purchase-money exceeds Rs. 10 but does not exceed Rs. 25;

Four annas.

(c) in any other case ....................... The same duty as a conveyance (No. 23) for a consideration equal to the amount of the purchase- money only.

Description of Instrument Proper Stamp-duty

19. CERTIFICATE OR OTHER DOCUMENT 1 [(except the certificate or other document covered under Articles 27 and 56A)”evidencing the right or title of the holder thereof, or any other person, either to any shares, scrip or stock in or of any incorporated company or other body corporate, or to become proprietor of shares, scrip or stock in or of any such company or body.

2* * * *.

3 [Two anna].

20. CHARTER-PARTY, that is to say, any instrument (except agreement for the hire of a tug-steamer) whereby a vessel or some specified principal part thereof is let for the specified purposes of the charterer, whether it includes a penalty clause or not.

One rupee.

4* * * * *

22. COMPOSITION-DEED, that is to say, any instrument executed by a debtor whereby he conveys his property for the benefit of his creditors, or whereby payment of a composition or dividend on their debts is secured to the creditors, or whereby provision is made for the continuance of the debtor's business, under the supervision of inspectors or under letters of licence, for the benefit of his creditors.

23. CONVEYANCE [as defined by section 2 (10)] not being a Transfer charged or exempted under No. 62,—

Ten rupees. where the amount or value of the consideration for such conveyance as set forth therein does not exceed Rs. 50:

Eight annas. where it exceeds Rs. 50 but does not exceed Rs. 100.

Ditto 100 ditto 200 Two rupees.

Ditto 200 ditto 300 Three rupees.

Ditto 300 ditto 400 Four rupees.

Ditto 400 ditto 500 Five rupees.

Ditto 500 ditto 600 Six rupees.

Ditto 600 ditto 700 Seven rupees.

Ditto 700 ditto 800 Eight rupees.

Ditto 800 ditto 900 Nine rupees.

Ditto 900 ditto 1,000 Ten rupees. and for every Rs. 500 or part thereof in excess of Rs. 1,000

Exemption

5[(a)Assignment of copyright by entry made under the6Indian Copyright

Act, 1847 (20 of 1847) section 5.]

7[(b) for the purpose of this article, the portion of duty paid in respect of a document falling under article No. 23A shall be excluded while computing the duty payable in respect of a corresponding document relating to the completion of the transaction in any Union territory under this article.]

CO-PARTNERSHIP-DEED. See Partnership (No. 46.)

5[23A. CONVEYANCE IN THE NATURE OF PART

PERFORMANCE—Contracts for the transfer of immovable property in the nature of part performance in any Union territory under section 53A of the Transfer of Property Act, 1882 (4 of 1882).

One rupees.

Five rupees.

Ninety per cent. of the duty as a Conveyance (No. 23).]

Description of Instrument Proper Stamp-duty

24. COPY OR EXTRACT certified to be a true copy or extract, by or by order of any public officer and not chargeable under the law for the time being in force relating to court-fees—

(i)if the original was not chargeable with duty or if the duty with which it was chargeable does not exceed one rupee;

(ii) in any other case…………………

Exemptions

(a)Copy of any paper which a public officer is expressly required by law to make or furnish for record in any public office or for any public purpose.

1[(b) Copy of, or extract from, any register relating to births, baptisms, namings, dedications, marriages, 2[divorces,] deaths or burials].

25. COUNTERPART OR DUPLICATE of any instrument chargeable with duty and in respect of which the proper duty has been paid,—

(a) if the duty with which the original instrument is chargeable does not exceed one rupee;

(b) in any other case ..................

Exemption

Counterpart of any lease granted to a cultivator, when such lease is exempted from duty.

26. CUSTOMS BOND—

(a) where the amount does not exceed Rs. 1,000;

(b)in any other case ..........................

3[27. DEBENTURE—[as defined by section 2(10A)] (see section 9A and 9B)

Eight annas.

One rupee.

The same duty as is payable on the original.

One rupee.

The same duty as a Bond (No. 15) for such amount.

Five rupees.

(a)in case of issue of debenture; 0.005%

(b) in case of transfer and re-issue of debenture. 0.0001%]

Description of Instrument Proper Stamp-duty

Explanation.—The term “Debenture” includes any interest coupons attached thereto but the amount of such coupons shall not be included in estimating the duty.

Exemption

A debenture issued by an incorporated company or other body corporate in terms of a registered mortgage-deed, duly stamped in respect of the full amount of debentures to be issued thereunder, whereby the company or body borrowing makes over, in whole or in part, their property to trustees for the benefit of the debenture holders:

Provided that the debentures so issued are expressed to be issued in terms of the said mortgage-deed.

See also BOND (NO. 15): and sections 8 and 55.

28. DELIVERY ORDER IN RESPECT OF GOODS,1[(excluding delivery order in respect of settlement of transactions in securities in stock exchange)] that is to say, any instrument entitling any person therein named, or his assigns, or the holder thereof, to the delivery of any goods lying in any dock or port, or in any warehouse in which goods are stored or deposited on rent or hire, or upon any wharf, such instrument being signed by or on behalf of the owner of such goods, upon the sale or transfer of the property therein, when such goods exceed in value twenty rupees.

DEPOSITOFTITLE-DEEDS 2 [SEE AGREEMENT RELATINGTO

DEPOSITOFTITLE-DEEDS PAWN OR PLEDGE (NO. 6)].

DISSOLUTION OF PARTNERSHIPSee PARTNERSHIP (No. 46).

29. DIVORCE.—Instrument of, that is to say, any instrument by which any person effects the dissolution of his marriage.

DOWER—Instrument of See SETTLEMENT (No. 58).

DUPLICATE. See COUNTERPART (No. 25).

30. ENTRY AS AN ADVOCATE, VAKIL OR ATTORNEY ON THE ROLL OF ANY HIGH COURT3[under the Indian Bar Councils Act, 1926 (38 of 1926) or] in exercise of powers conferred on such court by Letters patent or by the 4Legal

Practitioners Act, 1884 (9 of 1884)—

(a) in the case of an Advocate or Vakil……….

(b) in the case of an Attorney……..

Exemption entry of an advocate, vakil or attornery on the roll of any High court when he has previously been enrolled in a High Court.

5 * * *

* *

31. EXCHANGE OF PROPERTY.—Instrument of.

EXTRACT. See Copy (No. 24).

32. FURTHER CHARGE.—Instrument of, that is to say, any instrument imposing a further charge on mortgaged property—

(a) when the original mortgage is one of the description referred to in clause (a) of Article No. 40 (that is, with possession);

(b) when such mortgage is one of the description referred to in clause (b)of Article No. 40 (that is, without possession)—

(i) if at the time of execution of the instrument of further charge possession of the property is given or agreed to be given under such instrument;

(ii) if possession is not so given.........

33. GIFT.—Instrument of, not being a SETTLEMENT (No.

58) or will or TRANSFER (No. 62).

HIRING AGREEMENT or agreement for service. SEE

AGREEMENT No.5).

34. INDEMNITY-BOND..............

INSPECTORSHIP-DEED See COMPOSITION-DEED (No.

22) INSURANCE. See POLICY OF INSURANCE (No.

47).

35. LEASE, including an under-lease or sub-lease and any agreement to let or sub-let—

(a) whereby such lease the rent is fixed and no premium is paid or delivered—

(i) where the lease purports to be for a term of less than one year;

(ii) where the lease purports to be for a term of not less than one year but not more than three years;

(iii) where the lease purports to be for a term in excess of three years;

(iv) where the lease does not purport to be for any definite term;

(v) where the lease purports to be in perpetuity;

The same duty as a Conveyance

(No. 23) for a consideration equal to the value of the property of greatest value as set forth in such instrument.

The same duty as a Conveyance

(No. 23) for a consideration equal to the amount of the further charge secured by such instrument.

The same duty as a Conveyance

(No. 23) for a consideration equal to the total amount of the charge

(including the original mortgage and any further chage already made) less the duty already paid on such original mortgage and further charge.

The same duty as a Bond (No. 15) for the amount of the further charge secured by such instrument.

The same duty as a Conveyance

(No. 23) for a consideration equal to the value of the property, as set forth in such instrument.

The same duty as a Security Bond

(No. 57) for the same amount.

The same duty as a Bond (No.15) for the whole amount payable or deliverable under such lease.

The same duty as Bond (No. 15) for the amount or value of the average annual rent reserved.

The same duty as a Conveyance

(No. 23) for a consideration equal to the amount or value of the average annual rent reserved.

The same duty as a Conveyance (No.

23) for a consideration equal to the amount or value of the average annual rent which would be paid or delivered for the first ten years if the lease continued so long.

The same duty as a Conveyance (No.

23) for a consideration equal to one- fifth of the whole amount of rents which would be paid or delivered in respect of the first fifty years of the lease.

Description of Instrument Proper Stamp-duty

(b) where the lease is granted for a fine or premium or for money advanced and where no rent is reserved;

The same duty as a Conveyance (No. 23) for a consideration equal to the amount or value of such fine or premium or advance as set forth in the lease.

(c) where the lease is granted for a fine or premium or for money advanced in addition to rent reserved;

The same duty as a Conveyance (No. 23) for a consideration equal to the amount or value of such fine or premium or advance as set forth in the lease, in addition to the duty which would have been payable on such lease if no fine or premium or advance had been paid or delivered:

Provided that, in any case when an agreement to lease is stamped with the ad valorem stamp required for a lease, and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed eight annas.

Exemptions

(a)Lease, executed in the case of a cultivator and for the purposes of cultivation (including a lease of trees for the production of food or drink) without the payment or delivery of any fine or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees.

1* * * * *

2[36. LETTER OF ALLOTMENT in respect of any loan to be raised by any company or proposed company.]

3[Two annas.],

4[37. LETTER OF CREDIT, that is to say any instrument by which one person authorizes another to give credit to the person in whose favour it is drawn.

LETTER OF GUARANTEE, See AGREEMENT (No. 5).

5[Two rupees.]

38. LETTER OF LICENCE, that is to say, any agreement between a debtor and his creditors that the letter shall, for a specified time, suspend their claims and allow the debtor to carry on business at his own discretion.

Ten rupees.

39. MEMORANDUM OFASSOCIATION OFA

COMPANY—

(a) if accompanied by articles of association under section 37 of the 6 Indian Companies Act, 1882 (6 of 1882);

Fifteen rupees.

(b) if not so accompanied Forty rupees.

Description of Instrument Proper Stamp-duty

Exemption

Memorandum of any association not formed for profit and registered under section 26 of the 1Indian Com- panies Act, 1882 (6 of 1882).

40. MORTGAGE-DEED, not being 2[an AGREEMENT

RELATING-TO DEPOSITOF TITLE-DEEDS, PAWN OR PLEDGE (NO. 6)], BOTTOMRY BOND (NO. 16),

MORTGAGE OF A CROP (NO. 41), RESPONDENTIA BOND

(No. 56), OR SECURITY BOND (NO. 57)—

(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;

(b) when 3***possession is not given or agreed to be given as aforesaid;

Explanation.—A mortgagor who gives to the mortgagee a power-of-attorney to collect rents or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this

Article.

The same duty as a Conveyance (No. 23) for a consideration equal to the amount secured by such deed.

The same duty as a Bond (No. 15) for the amount secured by such deed.

(c) when a collateral or auxiliary or additional or substituted security, or by way of further assurance for the abovementioned purpose where the principal or primary security is duly stamped— for every sum secured not exceeding Rs. 1,000 and for every Rs. 1,000 or part thereof secured in excess of Rs. 1,000.

Exemptions

(1) Instruments, executed by person taking advances under the Land Improvement Loans Act, 1883

(19 of 1883), or the Agriculturists' Loan Act, 1884 (12 of 1884), or by their sureties as security for the repayment of such advances.

(2) Letter of hypothecation accompanying a bill of exchange.

4 * * *

41. MORTGAGE OF A CROP, including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop, whether the crop is or is not in existence at the time of the mortgage—

(a)when the loan is repayable not more than three months from the date of the instrument— for every sum secured not exceeding Rs. 200 and for every Rs. 200 or part thereof secured in excess of Rs. 200;

Eight annas.

Eight annas.

* *

One anna.

One anna.

Description of Instrument Proper Stamp-duty

(b) where land is held on revenue settlement for a period not exceeding thirty years and paying the full assessment, the value for the purpose of duty shall be calculated at not more than five times the annual revenue;

(c) where a final order for effecting a partition passed by any Revenue-authority or any Civil-Court, or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and an instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not exceed eight annas.

46. PARTNERSHIP—

A—INSTRUMENT OF—

(a) where the capital of the partnership does not Two rupees eight annas. exceed Rs. 500;

(b ) in any other case…………………… Ten rupees.

B.—DISSOLUTION OF………………………… 1[PAWN OR PLEDGE. See AGREEMENT RELATING TO DEPOSIT OF TITLE-DEEDS. PAWN OR PLEDGE (NO. 6).]

47. POLICY OF INSURANCE—

2[A.—SEA INSURANCE [see section 7] of Indian Stamp Act, 1899

(2 of 1899)]

(1) for or upon any voyage—

Five rupees.

If drawn singly

If drawn in duplicate, for each part

(i) where the premium or consideration does not exceed the rate of 3*** one-eighth per centum of the amount insured by the policy;

4[Ten nayepaise.]

5[Fivenayapaise.]

(ii) in any other case, in respect of every full sum of 6 [one thousand five hundred rupees] and also any fractional part of 6[one thousand five hundred rupees] insured by the policy;

4[Ten nayapaise.]

5[Five nayapaise.]

Description of Instrument Proper Stamp-duty

(2) for time—

(iii) in respect of every full sum of one thousand rupees and also any fractional part of one thousand rupees insured by the policy— where the insurance shall be made for any time not exceeding six months;

1[Fifteen nayepaise.]

2[Ten nayepaise.] where the insurance shall be made for any time exceeding six months and not exceeding twelve months.

3[Twenty- fivenayepaise.]

1[Fifteen nayepaise.]

B.— 4 [FIRE-INSURANCE AND OTHER CLASSES OF INSURANCE, NOT ELSEWHERE INCLUDED IN THIS

ARTICLE, COVERING GOODS, MERCHANDISE,

PERSONAL EFFECTS, CROPS AND OTHER

PROPERTY AGAINST LOSS OR DAMAGE —

(1) in respect of an original policy—

(i) when the sum insured does not exceed

Rs. 5,000;

5[Fifty nayepaise.]

(ii) in any other case; and One rupees.

(2)in respect of each receipt for any payment of a premium on any renewal of an original policy.

C.—ACCIDENT AND SICKNESS INSURANCE—

One-half of duty payable in respect of the original policy in addition to the amount if any, chargeable under No.

53.

(a) against railway accident, valid for a single journey only.

2[Ten nayepaise.]

Exemption

When issued to a passenger travelling by the intermediate or the third class in any railway;

(b) in any other case—for the maximum amount which may become payable in the case of any single accident or sickness where such amount does not exceed

Rs. 1,000, and also where such amount exceeds Rs.

1,000, for every Rs. 1,000 or part thereof.

1[Fifteen nayepaise]:

6[Provided that, in case of a policy of insurance against death by accident when the annual premium payable does not exceed 7 [Rs. 2.50] per Rs.

1,000, the duty on such instrument shall be 2[Ten nayepaise] for every Rs.

1,000 or part thereof of the maximum amount which may become payable under it.]

Description of Instrument Proper Stamp-duty

1 [CC.—INSURANCE BY WAY OF INDEMENITYagainst liability to pay damages on account of accidents to workmen employed by or under the insurer or against liability to pay compensation under the Workmen's Compensation Act, 1923 (8 of 1923), for every Rs. 100 or part thereof payable as premium.

2[Ten nayepaise.]

3 [D.—LIFE INSURANCE 4 [OR GROUP INSURANCE

OR OTHER INSURANCE] NOT SPECIFICALLY

PROVIDED FOR, except such a RE-INSURANCE, as is described in Division E of this article—

If drawn singly

If drawn in duplicate for each part.

(i) for every sum insured not exceeding Rs. 250; 5[Fifteen nayepaise.]

2[Ten nayepaise.]

(ii) for every sum insured exceeding Rs. 250 but not exceeding Rs. 500;

6[Twenty five nayepaise.]

5[Fifteen nayepaise.]

(iii) for every sum insured exceeding Rs. 500 but not exceeding

Rs. 1,000 and also for every Rs. 1,000 or part thereof in excess of Rs.

1,000.

7[Forty nayepaise.] 8[Twenty nayepaise.]

9 [N.B.—If a policy of group insurance is renewed or otherwise modified whereby the sum insured exceeds the sum previously insured on which stamp-duty has been paid, the proper stamp must be borne on the excess sum so insured.]

Exemption

Polices of life-insurance granted by the Director-

General of PostOffices in accordance with rules for Postal

Life-Insurance issued under the authority of the Central

Government.]

E.—RE-INSURANCE BY AN INSURANCE COMPANY, which has granted a POLICY of the nature specified in Division A or Division B of this Article, 10 with another company by way of indemnity or guarantee against the payment on the original insurance of a certain part of the sum insured thereby.

One-quarter of the duty payable inrespect of the original insurance but not less than 2[ten nayepaise] or more than onerupee:

11[Provided that if the total amount of duty payable is not a multiple of fivenayepaise, the total amount shall be rounded off to the next higher multiple of fivenayepaise].

Exemptions

Transfers by endorsement—

(a) of a bill of exchange, cheque or promissory note;

(b) of a bill of lading, delivery order, warrant for goods, or other mercantile document of title to goods;

(c) of a policy of insurance;

(d) of securities of the Central Government. See also section 8.

63. TRANSFER OF LEASE by way or assignment and not by way of under-lease.

Exemption

Transfers of any lease exempt from duty.

64.TRUST—

The same duty as a Conveyance (No. 23) for a consideration equal to the amount of the consideration for the transfer.

A. — DECLARATION OF—of, or concerning, any property when made by any writing not being a WILL.

The same duty as a Bond (No. 15) for a sum equal to the amount or value of the property concerned as set forth in the instrument but not exceeding fifteen rupees.

B.—REVOCATION OF—of, or concerning, any property when made by any instrument other than a WILL.

See also SETTLEMENT (No. 58).

VALUATION, See APPRAISEMENT (No. 8).

VAKIL, See ENTRY AS A VAKIL (No. 30).

65. WARRANT FOR GOODS, that is to say, any instrument evidencing the title of any person therein named, or his assigns, or the holder thereof, to the property in any goods lying in or upon any dock, warehouse or wharf, such instrument being signed or certified by or on behalf of the person in whose custody such goods maybe.

The same duty as a Bond (No. 15) for a sum equal to the amount or value of the property concerned as set forth in the instrument but not exceeding ten rupees.

Four annas.

STATE AMENDMENT

Assam

Amendment of Schedule I of Act II of 1899.—In Schedule I to the principal Act, for item No. 23, the following 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 the amount or value of the consideration for such conveyance as set forth therein does not exceed Rs. 50.

Two rupees and fifty paise.

Where it exceeds Rs. 50 but does not exceed Rs.

100;

Five Rupees

Where it exceeds Rs. 100 but does not exceed Rs.

200;

Ten rupees

Where it exceed Rs. 200 but does not exceed Rs.

300;

Twelve rupees

Where it exceed Rs. 300 but does not exceed Rs.

400;

Twenty rupees

Where it exceed Rs. 400 but does not exceed Rs.

500;

Twenty-two rupees

Where it exceed Rs. 500 but does not exceed Rs.

600;

Twenty-eight rupees.

Where it exceed Rs. 600 but does not exceed Rs.

700;

Thirty-two rupees.

Where it exceed Rs. 700 but does not exceed Rs.

800;

Thirty-seven rupees

Where it exceed Rs. 700 but does not exceed Rs.

900;

Forty-two rupees

Where it exceed Rs. 900 but does not exceed Rs.

1,000;

Forty-six rupees.

For every Rs. 500 or part thereof in excess of Rs.

1,000;

Twenty-three rupees

Where it excels Rs. 50,000 but does not exceed

Rs. 90, 000;

Sixty rupees for every on thousand rupees.

Where it exceeds Rs. 90, 000 but does not exceed

Rs. 1, 50, 000;

Eighty rupees for every one thousand rupees. and where it exceeds Rs. 1, 50, 000; One hundred rupees for every one thousand rupees.

Provided that where the “instrument” or the conveyance is in respect of an Industrial loan, certified as such by the Director of Industries, Assam, the Stamp duty shall be half of the above rate.

Exemption

Assignment of copyright under the Indian Copyright Act, 1957 (Act XIV, 1957).

Co-partnership Deed-See partnership (No. 46)”.

[Vide Assam Act 6 of 1990, s. 2]

Assam

Amendment of Schedule I.—In the principal act, in Schedule-I, for item No. 23, the following 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.

Five percent. of the market value of the property for such conveyance made in favour of women and six percent for others.”

[Vide Assam Act 19 of 2008. s. 2]

Assam

Amendment of Schedule-I

Description of Instrument Proper Stamp-duty

“23. Conveyance [as defined by Section -

2(10)], not being a Transfer, charged or exempted under No. 62.

Two percent. of the market value of the property for such conveyance made in favour of women soley or jointly with others and three percent for others.”

[Vide Act 9 of 2013, s. 2]

Assam

Amendment of Schedule-I of Act II of 1899.—In the principal Act, in Schedule-I, for item Nos.1-5,

12, 15-20, 22-26, 28-29, 31, 33, 34-36, 38-40, 42-43, 45, 46, 48, 54, 57-58, 60, 61, 63-65, the following shall be substituted, namely:—

Sl. No. Description of Instrument Proper Stamp-duty

(1) (2) (3)

1. Acknowledgement Fifty Rupees

2. Administration Bond including Bond given under Section 6 of the Government Saving Bank Act, 1873 or Section 291 or Section 376 of the Indian Succession Act,

1925:

(a) Where the amount does not exceed Rs. 1,000. The same duty as a bond (No.

15) for such amount

(b) In any other case. Twenty rupees

3.

Adoption Deed

Two hundred rupees

4. Affidavit

Fifteen rupees

5. Agreement or memorandum of an Agreement:

(a) If relating to sale of a bill of exchange.

Five rupees.

(b) If relating to sale of a Government Security. Subject to maximum of Rs.

100 for every Rs. 10,000 or part thereof of the value of Security.

(c) if relating to purchase or sale of shares, scripts, stocks, bonds, debentures, debenture stocks or any other marketable security of a like nature in or any incorporated company or other body corporate-

(i) when such agreement or memorandum of an agreement is with or through a member or between members of a stock exchange recognised under the Securities Contracts (Regulation) Act, 1956.

Three rupees for every Rs.

5000 or part thereof of the value of the security at the time of its purchase or sales as the case may be.

Sl. No. Description of Instrument Proper Stamp-duty

(ii) in other cases Five rupees for every Rs.

5000 or part thereof of the value of the security at the time of its purchase or sale as the case may be.

(d) If executed for service or for performance of work in any estate whether held by one person or by more persons than one as co-owners and whether in one or more blocks and situated in Assam where the advance given under such agreement does not exceed one thousand rupees.

Five rupees.

Agreement to lease.

(e) if not, otherwise provided for Ten rupees.

12. Award:

(a) Where amount or value of the property to which the award relates as set forth in such award, does not exceed Rs. 1,000.

The same duty a Bond for such amount

(b) if it exceeds Rs. 1,000 but does not exceeds Rs.

5,000.

Twenty rupees. and for every additional Rs. 1,000 or part thereof in excess of Rs. 5,000.

Two rupees subject to a maximum of one hundred and-thirteen rupees.

15. Bond as defined by Section 2(5)] not being debenture

(No. 27) and not being otherwise provided for by this

Act or by the Court Fees Act, 1870

Where the amount of value secured does not exceed

Rs. 500.

Ten rupees.

Where it exceeds Rs. 500 and does not exceed Rs.

1,000. and for every Rs. 500 or part thereof in excess of Rs. 1,000.

Twenty rupees. Ten rupees.

16.

Bottomry Bond that is to say, any instrument whereby the master of sea going ship borrows money on the security of a ship to enable him to preserve the ship or persecute her voyage.

The same duty as a Bond

(No. 15) for such amount.

17. Cancellation instrument of (including any instrument by which any previously executed is cancelled) if attested and not otherwise provided for.

Thirty rupees.

18. Certificate of sale (in respect of each property put up as a separate lot sold) granted to the purchaser of any property sold by public auction by a Civil or Revenue

Court or Collector or Revenue Officer.

Same duty as on Conveyance (No. 23) for a market value of equal to the amount of the purchase money only.

19. Certificate or other document evidencing the right or title of the holder thereof or any other person either to any shares, script or stock in or of any incorporated company or other body corporate or to become proprietor of shares, script or stock in, or of any such company or body.

Five rupees.

Sl. No. Description of Instrument Proper Stamp-duty

20. Charter Party, that is to say, any instrument (except and agreement for the hire of a tug steamer), whereby a vessel or some specified principal part thereof is left for the specified purpose of the charter whether it includes a penalty clause or not.

Fifteen rupees.

22. Composition Deed that is to say, any instrument executed by a debtor, whereby he conveys his property for the benefit of his creditors or whereby payment of a composition or dividend on their debts is secured to the creditors or whereby provision is made for the continuance of the debtor business, under the supervision of inspectors or under letters of License for the benefit of his creditors

Seventy five rupees.

23. Conveyance [as defined by Section-2(10)], not being a Transfer, charged or exempted under No. 62.

Where the market value of the property for such conveyance as set forth therein does not exceed Rs.

1000.

Fifty rupees.

Where it exceeds Rs. 1000 but does not exceed Rs.

10,000.

Sixty rupees per thousand or part thereof

Where it exceeds Rs. 10, 000 but does not exceed Rs.

5,0000.

Sixty five rupees per thousand or part thereof

Where it exceeds Rs. 5,0000 but does not exceed Rs.

1,00,000.

Eighty rupees per thousand or part thereof

And for every Rs. 1,000 or part thereof in excess of Rs. 1, 00, 000.

One hundred twenty rupees.

Provided that where the instrument or the conveyance is in respect of an industrial loan certified as such by the Director of Industries, Assam the stamps duty shall be half of the above rate.

24. Copy or extract certified to be true copy or extract by or by order of any public officer and not chargeable under the law for the time being in force relating to court fees.

(i) If the original was not chargeable with duty or if the duty with which it was chargeable does not exceed two rupees.

Five rupees.

(ii) in any other case not falling within the provisions of Section 6-A.

Ten rupees.

25. Counterpart or Duplicate of any instrument chargeable with duty and in respect of which proper duty has been paid.

(a) if the duty with which the original instrument is chargeable does not exceed two rupees.

The same duty as is payable on the original.

(b) in any other case not falling within the provisions of Section 6A.

Ten rupees.

26. Customs Bonds-

(a) Where the amount does not exceed Rs. 1,000. The same duty as bond for such amount.

(b) in any other case. Fifty rupees.

Sl. No. Description of Instrument Proper Stamp-duty

28. Delivery order in respect goods.

Five rupees.

29. Divorce instrument of, that is to say, any instrument by which any person effects the dissolution of his marriage.

Fifty rupees.

31. Exchange of property, instrument of The same duty as conveyance

(No. 23) for market value equal to the market value of the property of greatest value as set forth in such instrument.

33.

Gift instrument of not being a settlement (No. 58) or will or transfer (No. 62).

The same duty as conveyance

(No. 23) for market value equal to the market value of the property of greatest value as set forth in such instrument.

34.

Indemnity Bond

The same duty as security bond for the same amount.

35. Lease-including an under lease or sub-lease and any agreement to let or sub-let-

(a) Where by such lease is fixed and no premium is paid or delivered.

(i) Where the lease purports to be for a term of less than one year.

The same duty as a Bond (No.

10) for the whole amount payable or deliverable under such lease.

(ii) Where the lease purports to be for a term of not less than one year but not more than five year

The same duty as a Bond

(No. 15)for the amount or value of the average annual rent reserved.

(iii) Where the lease purports to be for a term exceeding five years, and not exceeding ten years.

The same duty as a conveyance (No. 23) for a market value equal to the amount or value of the average annual rent reserved.

(iv) Where the lease purports to be for a term exceeding ten years, but not exceeding twenty years.

The same duty as a conveyance (No. 23) for a market value equal to twice the amount or value of the average annual rent reserved.

(v) Where the lease purports to be for a term exceeding twenty years, but not exceeding thirty years.

The same duty as a conveyance (No. 23) for a market value equal to three times the amount or value of the average annual rent reserved.

(vi) Where the lease purports to be for a term exceeding thirty years, but not exceeding one hundred years.

The same duty as a conveyance

(No. 23) for a market value equal to four times the amount or value of the average annual rent reserved.

Sl. No. Description of Instrument Proper Stamp-duty

(vii) Where the lease purports to be for a term exceeding one hundred years, or in perpetuity.

The same duty as a conveyance (No 23) for a market value equal in the case of a lease granted solely for agricultural purpose to one- tenth and in any other case to one-sixth of the whole amount ofrents which would be paid or delivered in respect of the first fifty years of the lease.

(viii) Where the lease does not purport to be for any definite term

The same duty as a conveyance (No. 23) for a market value equal to three times the amount or value of the average annual rent which would be paid or delivered for the first ten years if the lease continued so long.

(b) Where the lease is granted for a fine or premium or for money advanced and where no rent is reserved.

The same duty as a conveyance (No. 23) for a market value equal to the amount or value of such fine or premium or advance as set forth in the lease.

(c) Where the lease is granted for' a fine or premium or for money advanced in addition to rent reserved.

The same duty as a conveyance (No. 23) for a market value equal to the amount or value of such fine or premium or advance as set forth in the lease, in addition to the duty which would have been payable on such lease if no fine or premium or advance had been paid or delivered: Provided that, in any case where an agreement to lease is stamped with the advalorem stamp required for a lease and a lease in pursuance of such agreement is subsequently executed the duty on which lease shall not exceed two rupees.

Sl. No. Description of Instrument Proper Stamp-duty

Exemption.-Lease, executed in the case of cultivator for the purpose of cultivation (including a lease of trees for the production of food or drink) without the payment or, delivery of any fine or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees.

In this exemption a lease for the market purpose of cultivation shall including a lease of lands for cultivation together with a homestead or tank.

Explanation-When lease undertakes to pay any recurring charge, such as Government revenue, landlords share of cesses, or the owner's share of municipal rates of taxes, which is by law recoverable from the lessor, the amounts so agreed to be paid by the lessee shall be deemed to be part of the rent.

36. Letter of allotment of shares in any company or proposed company or in respect of any loan to be raised by any company or proposed company.

Five rupees.

38. Letter of licence that is to say, any agreement between a debtor and creditors that the letter shall for a specified time suspend their claims and allow the debtor to carry on business at his own discretion.

Fifty rupees.

39. Memorandum of Association of a Company--

(a) If accompanied by articles of Association under Section 26, 27 and 28 of the Companies Act, 1958.

Two hundred rupees.

(b) If not so accompanied. Five hundred rupees.

40. Mortgage Deed not being an agreement relating to Deposit of Title deeds pawn or pledge (NO. 6),

Bottomry Bond (No. 16), Mortgage of a Crop (No.

41), Respondentia Bond (No. 56), or Security Bond

(No. 57).

Five hundred rupees.

(a) When possession of the property or any part of the property comprised in such deed is given by the mortgagor on agreed to be given.

The same duty as a conveyance (No. 23) for a market value equal to the amount secured by such deed.

(b) When possession is not given or agreed to be given as aforesaid.

The same duty as a Bond (No.

15) for the amount secured by such deed.

Explanation-A mortgagor who gives to the mortgagee a power of attorney to collect rents or a lease of the property mortgaged or part thereof is deemed to give possession within the meaning of this article.

Sl. No. Description of Instrument Proper Stamp-duty

(c) (i) When a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above mentioned purpose where the principal or primary security is duly stamped for every sum secured not exceeding Rs. 1,000.

Three rupees.

(ii) and for every Rs. 1,000 or part thereof secured in excess of Rs. 1,000.

Exemptions:

Four rupees.

(1) Instruments executed by persons taking advance under the Land Improvement Loans Act,

1983 or the Agriculturists Loans Act, 1884, or by their sureties as security for the repayment of such advances.

(2) Letter of hypothecation accompanying a bill of exchange.

Act. XIX of 1883

42. Notarial Act, that is to say, instrument, endorsement, note attestation certificate or entry not being a protest

(No. 50) made or signed by a Notary Public in the execution of the duties of his office or by any other person lawfully acting as not any public.

Fifteen rupees.

43. Note or Memorandum sent by a, Broker or Agent to his Principal intimating the purchase or sale on account of such principal.

(a) of any goods exceeding in value twenty rupees. Five rupees.

(b) of any stock or marketable security exceeding in value twenty rupees.

Five rupees for every Rs.

10,000 or part thereof of the value of the stock or security.

44. Note of Protest by the Master of Ship. Ten rupees.

45. Partition-Instrument of [As defined by Section

2(15)].

The same duty as a Bond (No.

15) for the amount or the value of the separated share or shares of the property.

N.B.-The largest share remaining after the property is partitioned (or if there are two or more shares of equal value and not smaller than any of the other share then one of such equal share) shall be deemed to be that from which the other shares are separated.

Provided always that--

(a) When an instrument of partition containing an agreement to divide property in severalty is executed and a partition is effected in pursuance of such agreement the duty chargeable upon the instrument effecting such partition shall be reduced by the amount of duty paid in respect of the first instrument, but shall not be less than three rupees and thirty paise;

Sl. No. Description of Instrument Proper Stamp-duty

(b) Where land is held on revenue settlement for a period not exceeding thirty years and paying the full assessment, the value for the purpose of duty shall be calculated at not more than fifty times the annual revenue.

(c) Where a final order for effecting a partition passed by any revenue authority or any Civil Court, or an award by an arbitrator directing a partition is stamped with stamp required for an instrument of partition and an instrument of partition in pursuance of such order of award is subsequently executed the duty in such instrument shall not exceed three rupees and thirty paise.

46. Partnership, A-Instrument of--

(a) Where the capital of the partnership does not exceed Rs. 1,000.

The same as the Bond (No.

15).

(b) in any other case Rupees one hundred.

B-Dissolution of-- Power or Pledge-See Agreement relating to deposit of Title deeds Power of Pledge (No. 6).

Fifty rupees.

48. Power of Attorney (As defined by Section (21), not being proxy,

(a) When executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents.

Fifteen rupees.

(b) When required in suit or proceedings under Presidency Small Cause Courts Act, 1882.

Fifty rupees.

(c) When authorising one person or more to act in a single transaction other than the case mentioned in clause (a).

One hundred rupees.

(d) When authorising not more than five persons to act jointly and severally in more than one transaction or generally.

Two hundred rupees.

(e) When authorising more than five, but not more than ten persons to act jointly and severally in more than one transaction or generally.

Four hundred rupees.

(f) When given for consideration and authorising the attorney to sell immovable property.

Same duty as a conveyance

(No. 23) for the amount of the market value.

(g) In any other case One hundred rupees.

54.

Reconveyance of Mortgaged Property--

(a) If the consideration for which the property was mortgaged does not exceed Rs. 1,000.

The same duty as a conveyance (No. 23) for the amount of the market value as set forth in the conveyance.

(b) If any other case Sixty rupees.

57. Security Bond or Mortgaged Deed executed by way of security for the due execution of an office or to account for money or other property received by virtue thereof, or executed by a surety to secure the due performance of a contract.

(a) When the amount secured not exceed Rs. 1,000. The same duty as Bond for the amount secured.

Sl. No. Description of Instrument Proper Stamp-duty

(b) in any other case Fifty rupees.

58. Settlement

A. Instrument of (including a deed of dower). The same duty as a conveyance (No. 23).

B. Revocation of. The same duty as a conveyance for a sum equal to the amount of value of the property concerned as set forth in the instrument of revocation.

60. Shipping order Five rupees.

61. Surrender of Lease-

(a) When the duty with which the lease is chargeable does not exceed ten rupees.

The duty with which such lease is chargeable.

63. Transfer of Lease by way of assignment and not by way of under lease.

The same duty as a conveyance (No. 23) for a market value equal to the amount of the market value for the transfer.

Exemptions.—Transfer of any lease exempt from duty

64.

Trust--A-Declaration of, or concerning any property when made by any writing not being a will.

The same duty as a Bond for a sum equal to the amount or value of the property concern, as set forth in the instrument.

B-Revocation of, or concerning, any property when made by instrument, any other than a will.

The same duty as a Bond (No.

15) for a sum equal to the amount or value of the property concerned, as set forth in the instrument, but not exceeding thirty rupees.

65. Warrant for Goods.

Five rupees.

[Vide Assam Act 22 of 2004, s. 5]

Himachal Pradesh

New Schedule I-A.- After Schedule to the said Act the following shall be inserted, namely:-

SCHEDULE I-A

RATES OF STAMP DUTY ON CERTAIN INSTRUMENTS

Note.—The Articles in Schedule I-A are numbered so as to correspond with similar Articles in Schedule I, of the Indian Stamp Act, 1899.

Art. No. Description of Instrument Rates of Stamp Duty

1. Acknowledgement of a debt.–exceeding twenty rupees in amount or value, written or signed by, or on behalf of, a debtor in order to supply evidence of such debt, in any book (other than a Banker’s pass- book) or on a separate piece of paper when such book or paper is left in the creditor’s possession:

Ten rupees

Art. No. Description of Instrument Rates of Stamp Duty

Provided that such acknowledgement does not contain any promise to pay the debtor any stipulation to pay interest or to deliver any goods or other property.

2. Administration Bond.–including a bond given under section 6, of the Government Savings Bank

Act, 1873, or section 29, 375 and 376 of the Indian

Succession Act, 1925-in every case.

One hundred rupees.

3. Adoption-Deed.– that is to say, any instrument

(other than a Will), recording an adoption, or conferring or purporting to confer an authority to adopt.

One hundred rupees.

Advocate.–See Entry as an Advocate (No. 30).

4. Affidavit.–including an affirmation or declaration in the case of persons by law allowed affirming or declaring instead of swearing.

Ten rupees

Exemptions

Affidavit of declaration in writing when made–

(a) as a condition or enrolment under the Army Act,

1950; or Air Force Act, 1950;

(b) for the immediate purpose of being filed or used in any court or before the officer of any Court; or

(c) for the sole purpose of enabling any person to receive any pension or charitable allowance.

5. Agreement or Memorandum of an Agreement.– if relating to the sale of a bill of exchange or sale of a government security or share in any incorporated company or other body corporate or not otherwise provided for.

Fifty rupees.

Exemptions

Agreement or memorandum of agreement-

(a) for or relating to the sale of goods or merchandise exclusively, not being a Note or Memorandum chargeable under No. 43;

(b) made in the form of tenders to the Central

Government for or relating to any loan.

Agreement to Lease.–See Lease (No. 35).

6. Agreement relating to Deposit of Title Deeds,

Pawn or Pledge.– that is to say any instrument evidencing an agreement relating to- deposit of title-deeds or instrument constituting or being evidence of the title to any property whatever

(other than a marketable security) or the pawn or pledge of movable property where such deposit, pawn or 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.

0.05% of the secured amount, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees Ten.

Art. No. Description of Instrument

Rates of Stamp Duty

Exemption

Instrument of pawn or pledge of goods if unattested.

Comments

An agreement of hypothecation and question of stamp duty.– There is distinction between a transaction of hypothecation and a transaction of pledge. Because unlike a pledge where the possession of the goods pledged must pass on to the pawnee, no such possession passes on to the creditor in case of hypothecation. As the document in the present case, sought to create two rights in favour of the Bank, i.e. one pertaining to hypothecation of the property and the other pertaining to creation of attorneyship a total stamp of Rs. 11.50 was chargeable to in respect of the document under section 5 of the Stamp Act. Thus the document has been duly stamped being neither a pledge nor a pawn but an agreement of hypothecation covered by Cl. (e) of Art. 5 of Schedule-I to the Stamp Act with a covenant to confer rights of an attorney of the defendant on the plaintiff.

Deed of Pawn or Pledge.–There is no dispute between the parties, and rightly so, because even on a plain reading of Cl. 6 of the agreement it transpires that the possession of the goods hypothecated was to remain with the debtor itself. That being so, this deed cannot be held to be a deed of pawn or pledge so as to attract the mischief of Art. 6(2) of Schedule-I to the Stamp Act.

7. Appointment in execution of a Power.–whether of trustees or of property movable or immovable, where made by any writing not being a Will.

One hundred rupees.

8. Appraisement or Valuation.– made otherwise than under an order of the Court in the course of a suit– in every case.

Fifty rupees.

Exemptions

(a) Appraisement or valuation made for the information of one party only, and not being in any manner obligatory between parties either by agreement or of operation of law.

(b) Appraisement of crops for the purpose of ascertaining the amount to be given to a landlord as rent.

9. Apprenticeship-Deed.– including every writing relating to the service or tuition of any apprentice, clerk or servant placed with any master to learn any profession, trade or employment, not being articles of clerkship (No. 11).

As in Schedule-I.

Art. No. Description of Instrument Rates of Stamp Duty

Exemption

Instruments of apprenticeship executed by a Magistrate under the Apprentices Act, 1850, or by which a person is apprenticed by or at the charge of, any public charity.

10. Articles of Association of a Company.– in every case. Two hundred rupees.

Exemption

Articles of any Association not formed for profit and registered under section 25 of the Companies Act,

1956.

See also Memorandum of Association of a Company

(No. 39).

11 Articles of Clerkship.–

Assignment.– See Conveyance (No. 23) Transfer

(No. 62) and Transfer of Lease (No. 63), as the case may be.

As in Schedule-I.

Attorney.–See Entry as an Attorney (No. 30), and Power of Attorney (No. 48).

Authority to Adopt.-See adoption deed (No. 3)

12. Award.– that is to say, any decision in writing by an arbitrator or umpire, not being an award directing a partition, on a reference made otherwise than by an order of the court in the course of a suit— for every amount or value of the property as set forth in such award.

Five hundred rupees.

13. Bill of Exchange. As in Schedule-I

14. Bill of Lading (including a through bill of lading). As in Schedule-I

15. Bond.– as defined by section 2(5), not being a debenture (No. 27), and not being otherwise provided for by this Act or by the Court-fees Act, 1870.

0.05% of the secured amount, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees Ten.

See Administration Bond (No.2), Bottomry Bond

(No.16), Custom Bond (No.26), Indemnity Bond

(No.34), Respondentia Bond (No.56), Security Bond

(No.57).

Exemption

Bond when executed by any person for the purpose of guaranteeing that the local income derived from private subscription to a charitable dispensary or hospital or to any other object of public utility, shall not be less than a specified sum per mensem.

Art. No. Description of Instrument Rates of Stamp Duty

16. Bottomry Bond.–that is to say, any instrument whereby the master of a sea-going ship borrows money on a security of the ship to enable him to preserve the ship or prosecute her voyage.

0.05% of the secured amount, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees

Ten.

17. Cancellation.–Instrument of (including any instrument by which any instrument previously executed is cancelled) if attested and not otherwise provided for.

Fifty rupees.

See also Release (No. 55), Revocation of Settlement

(No. 58-A), Surrender of Lease (No. 61), Revocation of Trust (No. 64-B).

18. Certificate of Sale.–(in respect of each property put up as a separate lot and sold), granted to the purchaser of any property sold by public auction by a Civil or Revenue Court, or Collector or other

Revenue Officer.

5.00% of the market value of the property or to the amount of purchase money,

“whichever is higher”, subject to the minimum of rupees one hundred and duty rounded off to nearest rupees Ten.

19. Certificate or other Document.–evidencing the right or title of the holder thereof, or any other person, either to any shares scrip or stock in or of any incorporated company or other body corporate, or to become proprietor of shares, scrip or stock in or of any such company or body.

Ten rupees.

20. Charter Party.—that is to say, any instrument

(except an agreement for the hire of a tug steamer), whereby a vessel or some specified principal part thereof is let for the specified purposes of the Charterer, whether it includes a penalty clause or not.

Ten rupees. of 1927.

22. Composition-Deed.–that is to say, any instrument executed by a debtor whereby he conveys his property for the benefit of his creditors, or whereby payment of a composition or dividend on their debts is secured to the creditors, or whereby provision is made for the continuance of the debtor's business under the supervision of inspectors or under letters of license, for the benefit of his creditors.

One hundred rupees.

23. Conveyance.– as defined by section 2(10) not being a Transfer charged or exempted under No. 62-

Art. No. Description of Instrument Rates of Stamp Duty where the conveyance amounts to sale of immovable property.

4.00% for women and 6.00% for other persons, of the market value of the property or of the amount of purchase money”, “whichever is higher”, subject to the minimum of rupees one hundred and duty rounded off to nearest rupees Ten.

Exemption

Assignment of copyright.–under the Copyright Act,

1957, Section 18.

Co-partnership-deed.–See Partnership (No. 46).

Comments

Conveyance of Property.-There is no difference between a case of retirement and that of dissolution.

A partner stands on the same footing in relation to partnership as a co-owner. In the present case the document executed by the firm relinquishing the rights in favour of the former partner could only be a release. It was not a transfer having not been made in favour of a partner who had no interest in the property. The document executed does not transfer property; hence it was not a conveyance.

23(A) Conveyance in the Nature of Part Performance.–

Contracts for the transfer of immovable property in the nature of part performance in any Union territory under section 53 A of the Transfer of Property Act,

1882.

As in Schedule-I.

24. Copy or Extract.–certified to be true copy or extract, by or by order of any public officer and not chargeable under the law for the time being in force relating to court fees, in every case.

Ten rupees.

Exemptions

(a) Copy of any paper which a public officer is expressly required by law to make or furnish for record in any public office or for any public purpose.

(b) Copy of, or extract from, any register relating to births, baptisms, namings, dedications, marriages, divorces, deaths or burials.

25. Counterpart or Duplicate.– of any instrument chargeable with duty and in respect of which the proper duty has been paid, for every case.

Ten rupees.

Exemption

Counterpart of any lease granted to a cultivator, when such lease is exempted from duty.

Art. No. Description of Instrument Rates of Stamp Duty

Comments

Whether the stamp duty payable is payable on a counterpart.-Article 25 of the First Schedule to the Indian Stamp Act simply states the stamp duty payable on a counterpart or on a duplicate. Hence, an unstamped counterpart can be validated by payment of proper stamp duty and penalty therefor.

26. Customs-Bonds.–in every case. One hundred rupees.

27. Debenture.– (where a mortgage debenture or not), being a marketable security transferable-

(a) by endorsement or by a separate instrument of transfer;

As in Schedule-I.

(b) by delivery. As in Schedule-I.

Explanation.-The term “Debenture” includes any interest coupons attached thereto, but the amount of such coupons shall not be included in estimating the duty.

Exemption

A debenture issued by an incorporated company or other body corporate in terms of a registered mortgage-deed, duly stamped in respect of the full amount of debentures to be issued thereunder, whereby the company or body borrowing makes over, in whole or in part their property to trustees for the benefit of the debenture holders; provided that the debentures so issued are expressed to be issued in terms of the said mortgage-deed.

See also Bond (No. 15) and sections 8 and 55.

Declaration of any trust-See Trust (No. 64).

28. Delivery Order in respect of Goods. One hundred rupees.

Deposit of Title-Deeds- See Agreement Relating to Deposit of Title-Deeds, Pawn or Pledge (No. 6).

Dissolution of Partnership- See Partnership (No.

46).

29. Divorce, Instrument of.–that is to say, any instruments by which any person effects the dissolution of his marriage.

One hundred rupees.

Dower, Instrument of- See Settlement (No. 58).

Duplicate- See Counterpart (No. 25).

30. Entry as an Advocate, Vakil or Attorney on the Roll of the High Court.– in the case of an Advocate or Vakil or an Attorney. One thousand rupees.

Art. No. Description of Instrument Rates of Stamp Duty

Exemption

Entry as an Advocate, Vakil or Attorney on the roll of any High Court, when he has previously been enrolled in any other High Court.

31.

Exchange of Property, Instrument of. 0.05% of the higher value value of exchanged property, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees Ten.

Extract- See Copy (No.24).

32. Further Charge, Instrument of.– that is to say, any instrument imposing a further charge on mortgaged property-

(a) if at the time of execution of the instrument of further charge, the possession of the property is given or agreed to be given under such instrument;

5.00% of the market value of the property or consideration amount, “whichever is higher”, subject to the minimum of rupees one hundred and duty rounded off to nearest rupees Ten.

(b) if possession is not so given. 0.05% of the secured amount, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees Ten.

33. Gift, Instrument of.–not being a Settlement (No. 58) or Will or Transfer (No. 62).

[4.00% for women and 6.00% for other persons,] of the market value of the property, subject to the minimum of rupees one hundred and duty rounded off to nearest rupees

Ten.

Hiring Agreement or Agreement for Service.–See

Agreement (No. 5).

34. Indemnity Bond.– in every case. One hundred rupees.

Inspectorship-Deed.– See Composition- Deed (No.

22).

35. Lease.– including an under-lease or sub-lease and any agreement to let or sublet-

5.00% of the market value of the leased property, subject to the minimum of rupees one hundred and duty rounded off to nearest rupees Ten.

Art. No. Description of Instrument Rates of Stamp Duty

(a) where the lease purports upto one hundred years or exceeding hundred years;

Formula for calculating the stamp duty on Lease Deeds :-

5% × Market Value ×(Period of Lease) 100

(b) where the lease purports in perpetuity and does not purport to be for any definite term and time.

5.00% of the market value of the leased property or the whole lease amount which would be paid or delivered under such lease, if any, “whichever is higher,” subject to the minimum of rupees one hundred and duty rounded off to nearest rupees Ten.

Exemption

Lease, executed in the case of a cultivator and for the purposes of cultivation (including a lease of trees for the production of food or drink) without the payment or delivery of any fine or premium, when a definite term is expressed and such term does not exceed one year or when the average annual rent reserved does not exceed one hundred rupees.

In this exemption a lease for the purposes of cultivation shall include a lease of lands for cultivation together with a homestead or tank.

Explanation.–When a lessee undertakes to pay any recurring charge such as Government revenue, the land-lords share of cesses, or the owner’s share of municipal rates or taxes, which is by law recoverable from the lessor, the amount so agreed to be paid by the lessee shall be deemed to be part of the rent.

Comments

Any agreement to let-Whether amounts to a lease.- Article 35 would indicate that it is not only a lease which is covered by this Article, but also any agreement to let. An agreement to let need not be a lease. In order to determine whether in any given case, it is reasonable to infer the existence of agreement one has to see if one party has made an offer and the other party has accepted the same. To constitute an agreement, it is necessary that the intention of the parties must be definite and common on both. This can be achieved if the terms and conditions are expressly arrived at or could impliedly be found.

36. Letter of Allotment of Shares. Ten rupees.

37. Letter of Credit. As in Schedule-I.

Letter of Guarantee.– See Agreement (No. 5).

Art. No. Description of Instrument Rates of Stamp Duty

38. Letter of License.–that is to say, any agreement between a debtor and his creditors that the latter shall, for a specified time, suspend their claims and allow the debtor to carry on business at his own discretion.

Fifty rupees

39. Memorandum of Association of a Company.–

(a) if accompanied by articles of association under sections 26, 27 and 28 of the Companies Act, 1956;

One hundred rupees.

(b) if not so accompanied. Two hundred rupees.

Exemption

Memorandum of any association not formed for profit and registered under section 25 of the Companies Act, 1956.

40. Mortgage-Deed.– not being an agreement relating to deposit of Title-deeds, Pawn or Pledge (No. 6),

Bottomry Bond (No. 16), Mortgage of a crop (No.

41), Respondentia Bond (No. 56), or Security Bond

(No. 57),-

(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;

[4.00% for women and 6.00% for other persons,] of the market value of the property or consideration amount,

“whichever is higher”, of rupees one hundred and duty rounded off to nearest rupees

Ten.

(b) when possession is not given. 0.05% of the secured amount, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees Ten.

Explanation.- A mortgagor who gives to the mortgagee a Power-of-Attorney to collect rents or a lease of the property mortgaged or part thereof is deemed to give possession within the meaning of this article.

Exemption

Instrument, executed by persons taking advances under the Land Improvement Loans Act,

1883, or the Agriculturists Loans Act, 1884, or by their sureties as security for the repayment of such advances.

Art. No. Description of Instrument Rates of Stamp Duty

Comments

Undertaking affidavit whether could be charged as a mortgage-deed.–The undertaking affidavit has to be charged as a mortgage deed, which has to suffer stamp duty as prescribed under Art. 40 of Schedule-I to the Indian Stamp Act. Thus Art. 40 and not Art. 57 of Schedule-I to the said Act is the appropriate article applicable to the instant case.

41. Mortgage of a Crop.– including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop, whether the crop is or is not in existence at the time of the mortgage- for every sum secured. 0.05% of the secured amount, subject to the minimum of rupees one hundred and maximum rupees one thousand and duty rounded off to nearest rupees Ten.

42. Notarial Act.–that is to say, any instrument, endorsement, note, attestation certificate or entry not being a Protest (No. 50) made or signed by a Notary

Public in the execution of the duties of his office, or by any other person lawfully acting as a Notary

Public.

Ten rupees.

See also Protest of bill or note (No. 50).

43. Note or Memorandum.– sent by a broker or agent to his principal, the purchase or sale on account of such principal- of any goods or of any stock or marketable security. Fifty rupees.

44. Note of Protest by the Master of a Ship. Ten rupees.

45. Partition.–Instrument of as defined by section 2(15). 0.05% of the market value of the property being partitioned subject to the minimum of rupees one hundred and maximum of rupees one thousand and duty rounded off to nearest rupees Ten.

46. Partnership.–

A. Instrument of- Two hundred rupees.

For every capital of the partnership.

B. Dissolution of- Fifty rupees.

Pawn or Pledge.–See Agreement relating to Deposit of Title-Deed, Pawn or Pledge (No. 6).

47. Policy of Insurance.– As in Schedule-I.

Art. No. Description of Instrument Rates of Stamp Duty

48. Power of Attorney.– as defined by section 2(21), not being a Proxy (No. 52),-

(a) when authorizing one or more persons to act jointly and severally in a single transaction for sole purpose (including suit or proceedings);

One hundred rupees.

(b) when authorizing one or more persons to act jointly and severally in more than one transaction or generally;

One hundred and fifty rupees.

(c) in any other case. Two hundred rupees.

N.B.- The term "registration" includes every operation, incidental to registration under the Indian Registration

Act, 1908.

Explanation.–For the purposes of this article more persons than one when b

SCHEDULE II.— [Enactments repealed.] Rep. by the Repealing and Amending Act, 1914 (10 of 1914), s. 3 and the Second Schedule.