Indian Stamp Act.doc

8/14/2019 Indian Stamp Act.doc

1/22

INDIAN STAMP ACT, 1899[Act No. 2 of Year 1899]

An Act to consolidate and amend the law relating to stamps. Whereas it is expedient to

consolidate and amend the law relating to stamps; t is here!" enacted as follows# $CHAPTER SECTIONS TITLE

1$2 %&'()NA&Y

*$*+ ,-A)%$/-',

*1$*2 A0/A-N A, - ,-A)%,

3 **$48 N,-&/)'N-, N- /(Y ,-A)%'

3 49$55 A((WAN', 6& ,-A)%, N '&-AN A,',

3 57$*+ &'6'&'N' AN &'3,N

6- N-',
http://www.helplinelaw.com/bareact/bact.php?no=01&dsp=ind-stamphttp://www.helplinelaw.com/bareact/bact.php?no=01&dsp=ind-stamp#IIhttp://www.helplinelaw.com/bareact/bact.php?no=02&dsp=ind-stamp#IIIhttp://www.helplinelaw.com/bareact/bact.php?no=03&dsp=ind-stamp#IV%A0http://www.helplinelaw.com/bareact/bact.php?no=03&dsp=ind-stamp#Vhttp://www.helplinelaw.com/bact.php?no=04&dsp=ind-stamphttp://www.helplinelaw.com/bareact/bact.php?no=04&dsp=ind-stamp#Foothttp://www.helplinelaw.com/bareact/bact.php?no=01&dsp=ind-stamphttp://www.helplinelaw.com/bareact/bact.php?no=01&dsp=ind-stamp#IIhttp://www.helplinelaw.com/bareact/bact.php?no=02&dsp=ind-stamp#IIIhttp://www.helplinelaw.com/bareact/bact.php?no=03&dsp=ind-stamp#IV%A0http://www.helplinelaw.com/bareact/bact.php?no=03&dsp=ind-stamp#Vhttp://www.helplinelaw.com/bact.php?no=04&dsp=ind-stamphttp://www.helplinelaw.com/bareact/bact.php?no=04&dsp=ind-stamp#Foot


2/22

INDIAN STAMP ACT, 1899CHAPTER I

PRELIMINARY

1. Short title, extent an !o""en!e"ent

1 -his Act ma" !e called the ndian ,tamp Act: 1899.1[2 t extends to the whole of ndia except the ,tate of 0amm and


3/22

9 @ollector@$

a means: within the limits of the towns of alctta: )adras and >om!a": the ollector ofalctta: )adras and >om!a": respecti=el" and: withot those limits: the ollector of a district:and

! incldes a ept" ommissioner and an" officer whom 5[the 7[,tate Fo=ernment]] ma": !"

notification in the fficial FaGette: appoint in this !ehalf;

1+ @on=e"ance@ incldes a con=e"ance on sale and e=er" instrment !" which propert":whether mo=a!le or immo=a!le: is transferred inter =i=os and which is not otherwise specificall"pro=ided for !" ,chedle ;

11 @l" stamped@: as applied to an instrment: means that the instrment !ears an adhesi=e orimpressed stamp of not less than the proper amont and that sch stamp has !een affixed orsed in accordance with law for time !eing in force in *[ndia];

12 @'xected@ and @exection@: sed with reference to instrments: mean @signed@ and@signatre@;

C[E E E]

1* @mpressed stamp@ incldes$

a la!els affixed and impressed !" the proper officer: and

! stamps em!ossed or engra=ed on stamped paper;

8[1*A @ndia@ means the territor" of ndia exclding the ,tate of 0amm and


4/22

! a life$polic": and an" polic" insring an" person against accident or sicness: and an" otherpersonal insrance;

1+[E E E]

8[19A @%olic" of grop insrance@ means an" instrment co=ering not less than fift" or schsmaller nm!er as the entral Fo=ernment ma" appro=e: either generall" or with reference to

an" particlar case: !" which an insrer: in consideration of a premim paid !" an emplo"er or !"an emplo"er and his emplo"ees: ?ointl": engages to co=er: with or withot medical examinationand for the sole !enefit of persons other than the emplo"er: the li=es of all the emplo"ees or ofan" class of them: determined !" conditions pertaining to the emplo"ment: for amonts ofinsrance !ased pon a plan which precldes indi=idal selection;]

2+ @%olic" of sea$insrance@ or @sea$polic"@$

a means an" insrance made pon an" ship or =essel whether for marine or inland na=igation:or pon the machiner": tacle or frnitre of an" ship or =essel: or pon an" goods: merchandiseor propert" of an" description whate=er on !oard of an" ship or =essel: or pon the freight of: oran" other interest which ma" !e lawfll" insred in: or relating to: an" ship or =essel: and

! incldes an" insrance of goods: merchandise or propert" for an" transit which incldes: not asea ris within the meaning of clase a: !t also an" other ris incidental to the transit insredfrom the commencement of the transit to the ltimate destination co=ered !" the insrance.

Where an" person: in consideration of an" sm of mone" paid or to !e paid for additional freightor otherwise: agrees to tae pon himself an" ris attending goods: merchandise or propert" ofan" description whate=er while on !oard of an" ship or =essel: or engages to indemnif" the ownerof an" sch goods: merchandise or propert" from an" ris: loss or damage: sch agreement orengagement shall !e deemed to !e a contract for sea$insrance;

21 @%ower$of$attorne"@ incldes an" instrment not chargea!le with a fee nder the law relatingto cort$fees for the time !eing in force empowering a specified person to act for and in the nameof the person execting it;

22 @%romissor" note@ means a promissor" note as defined !" the Negotia!le nstrments Act:1881;

t also incldes a note promising the pa"ment of an" sm of mone" ot of an" particlar fndwhich ma" or ma" not !e a=aila!le: or pon an" condition or contingenc" which ma" or ma" not!e performed or happen;

2* @&eceipt@ incldes an" note: memorandm or writing$

a where!" an" mone": or an" !ill of exchange: cheDe or promissor" note is acnowledged toha=e !een recei=ed: or

! where!" an" other mo=a!le propert" is acnowledged to ha=e !een recei=ed in satisfaction ofa de!t: or

c where!" an" de!t or demand: or an" part of a de!t or demand: is acnowledged to ha=e !eensatisfied or discharged: or

d which signifies or imports an" sch acnowledgment;

and whether the same is or is not signed with the name of an" person 11[E E E]

24 @,ettlement@ means an" non$testamentar" disposition: in writing: of mo=a!le or immo=a!lepropert" made$

a in consideration of marriage:


5/22

! for the prpose of distri!ting propert" of the settlor among his famil" or those for whom hedesires to pro=ide: or for the prpose of pro=iding for some person dependent on him: or

c for an" religios or charita!le prpose:

and incldes an agreement in writing to mae sch a disposition 9[and: where: an" schdisposition has not !een made in writing: an" instrment recording: whether !" wa" of declaration

of trst or otherwise: the terms of an" sch disposition]; 12[E E E]

1*[25 @,oldier@ incldes an" person !elow the ran of non$commissioned officer who is enrollednder the 14[ndian Arm" Act: 1911].

15[E E E]

CHAPTER II

STAMP&D'TIES

A$f the lia!ilit" of instrments to dt"

(. In%tr)"ent% !har*ea+le ith )t-,!?ect to the pro=isions of this Act and the exemptions contained in ,chedle : the followinginstrments shall !e chargea!le with dt" of the amont indicated in that ,chedle as the properdt" therefor: respecti=el": that is to sa"$

a e=er" instrment mentioned in that ,chedle which: not ha=ing !een pre=iosl" exected !"an" person: is exected in *[ndia] on or after the first da" of 0l": 1899;

! e=er" !ill of exchange 19[pa"a!le otherwise than on demand] 2+[E E E] or promissor" notedrawn or made ot of *[ndia] on or after that da" and accepted or paid: or presented foracceptance or pa"ment: or endorsed: transferred or otherwise negotiated: in *[ndia]; and

c e=er" instrment other than a !ill of exchange 2+[E E E] or promissor" note mentioned in that,chedle: which: not ha=ing !een pre=iosl" exected !" an" person: is exected ot of *[ndia]on or after that da" relates to an" propert" sitate: or to an" matter or thing done or to !e done: in*[ndia] and is recei=ed in *[ndia]#

%&3' that no dt" shall !e chargea!le in respect of$

1 an" instrment exected !": or on !ehalf of: or in fa=or of: the go=ernment in cases where:!t for this exemption: the go=ernment wold !e lia!le to pa" the dt" chargea!le in respect ofsch instrment;

2 an" instrment for the sale: transfer or other disposition: either a!soltel" or !" wa" ofmortgage or otherwise: of an" ship or =essel: or an" part: interest: share or propert" of or in an"ship or =essel registered nder the )erchant ,hipping Act: 1894: or nder Act 19 of 19*8: or thendian &egistration of ,hips Act: 1841: as amended !" s!seDent Acts.

21[*A. E E E]. Se/eral in%tr)"ent% )%e in %in*le tran%a!tion o$ %ale, "ort*a*e or %ettle"ent1 Where: in the case of an" sale: mortgage or settlement: se=eral instrments are emplo"ed forcompleting the transaction: the principal instrment onl" shall !e chargea!le with the dt"prescri!ed in ,chedle : for the con=e"ance: mortgage or settlement: and each of the otherinstrments shall !e chargea!le with a dt" of one rpee instead of the dt" if an" prescri!edfor it in that ,chedle.

2 -he parties ma" determine for themsel=es which of the instrments so emplo"ed shall: for theprposes of s!$section 1: !e deemed to !e the principal instrment#

%&3' that the dt" chargea!le on the instrment so determined shall !e the highest dt"which wold !e chargea!le in respect of an" of the said instrments emplo"ed.


6/22

0. In%tr)"ent% relatin* to %e/eral i%tin!t "atter%An" instrment comprising or relating to se=eral distinct matters shall !e chargea!le with theaggregate amont of the dties with which separate instrments: each comprising or relating toone of sch matters: wold !e chargea!le nder this Act.

. In%tr)"ent% !o"in* ithin %e/eral e%!ri2tion% in S!he)le I,!?ect to the pro=isions of the last preceding section: an instrment so framed as to come within

two or more of the descriptions in ,chedle : shall: where the dties chargea!le therender aredifferent: !e chargea!le onl" with the highest of sch dties#

%&3' that nothing in this Act contained shall render chargea!le with dt" exceeding onerpee a conterpart or dplicate of an" instrment chargea!le with dt" and in respect of whichthe proper dt" has !een paid.

3. Poli!ie% o$ %ea&in%)ran!e22[E E E]

4 Where an" sea$insrance is made for or pon a =o"age and also for time: or to extend to orco=er an" time !e"ond thirt" da"s after the ship shall ha=e arri=ed at her destination and !eenthere moored at anchor: the polic" shall !e charged with dt" as a polic" for or pon a =o"age:and also with dt" as a polic" for time.

8. 4on%, e+ent)re% or other %e!)ritie% i%%)e on loan% )ner A!t 11 o$ 18391 Notwithstanding an"thing in this Act: an" local athorit" raising a loan nder the pro=isions ofthe (ocal Athorities (oan Act: 18C9: or of an" other law for the time !eing in force: !" the isseof !onds: de!entres or other secrities: shall: in respect of sch loan: !e chargea!le with a dt"of 2*[one per centm] on the total amont of the !onds: de!entres or other secrities issed !"it: and sch !onds: de!entres or other secrities need not !e stamped and shall not !echargea!le with an" frther dt" on renewal: consolidation: s!$di=ision or otherwise.

2 -he pro=isions of s!$section 1 exempting certain !onds: de!entres or other secritiesfrom !eing stamped and from !eing chargea!le with certain frther dt" shall appl" to the !onds:de!entres or other secrities of all otstanding loans of the ind mentioned therein: and all sch!onds: de!entres or other secrities shall !e =alid: whether the same are stamped or not#

%&3' that nothing herein contained shall exempt the local athorit" which has issed sch!onds: de!entres or other secrities from the dt" chargea!le in respect thereof prior to thetwent"$sixth da" of )arch: 19C8: when sch dt" has not alread" !een paid or remitted !" orderissed !" the entral Fo=ernment.

* n the case of wilfl neglect to pa" the dt" reDired !" this section: the local athorit" shall !elia!le to forfeit to the go=ernment a sm eDal to ten per centm pon the amont of dt"pa"a!le: and a lie penalt" for e=er" month after the first month dring which the neglectcontines.

24[8A. ,ecrities not lia!le to stamp dt"Notwithstanding an"thing contained in this Act:$

a an isser: !" the isse of secrities to one or more depositories shall: in respect of sch isse:!e chargea!le with dt" on the total amont of secrit" issed !" it and sch secrities need not

!e stamped;

! where an isser isses certificate of secrit" nder s!$section * of section 14 of theepositories Act: 1997: on sch certificate dt" shall !e pa"a!le as is pa"a!le on the isse ofdplicate certificate nder this Act;

c transfer of registered ownership of share from a person to a depositor" or from a depositor" toa !eneficial owner shall not !e lia!le to an" stamp dt";


7/22

25[d transfer of !eneficial ownership of shares: sch shares !eing shares of a compan" formedand registered nder the ompanies Act: 1957 or a !od" corporate esta!lished !" a entral Actdealt with !" a depositor": shall not !e lia!le to dt" nder article 72 of ,chedle of this Act;

e transfer of !eneficial ownership of nits: sch nits !eing nits of a mtal fnd inclding nitsof the /nit -rst of ndia esta!lished nder s!$section 1 of section * of the /nit -rst of ndia

Act: 197* dealt with !" a depositor": shall not !e lia!le to dt" nder article 72 of ,chedle of

this Act.]

'xplanation# 6or the prposes of this section: the expressions @!eneficial owner@: @depositor"@and @isser@: shall ha=e the meanings respecti=el" assigned to them in clases a: e and f ofs!$section 1 of section 2 of the epositories Act: 1997.]

9. Poer to re)!e, re"it or !o"2o)n )tie%27[1] 2C[-he 28[EEE] go=ernment] ma": !" rle or order p!lished in fficial FaGette:$

a redce or remit: whether prospecti=el" or retrospecti=el": in the whole or an" part of 29[theterritories nder its administration]: the dties with which an" instrments or an" particlar classor instrments: or an" of the instrments !elonging to sch class: or an" instrments whenexected !" or in fa=or of an" particlar class of persons: !" or in fa=or or an" mem!ers ofsch class: are chargea!le: and

! pro=ide for the composition or consolidation of dties in the case of isses !" an"incorporated compan" or other !od" corporate *+[or of transfers where there is a singletransferee: whether incorporated or not.]

*1[2 n this section: the expression @the go=ernment@ means:$

a in relation to stamp$dt" in respect of !ills of exchange: cheDes: promissor" notes: !ills oflading: letters of credit: policies of insrance: transfer of shares: de!entres: proxies and receipts:and in relation to an" other stamp$dt" chargea!le nder this Act and failing within entr" 97 of (ist in ,chedle 3 to the onstittion: the entral Fo=ernment;

! sa=e as a foresaid: the ,tate Fo=ernment.]

>$f stamps and the mode of sing them

15. D)tie% ho to +e 2ai1 'xcept as otherwise expressl" pro=ided in this Act: all dties with which an" instrments arechargea!le shall !e paid: and sch pa"ment shall !e indicated on sch instrments !" means ofstamps$

a according to the pro=isions herein contained; or

! when no sch pro=ision is applica!le thereto: as the 7[,tate Fo=ernment] ma" !" rle direct.

2 -he rles made nder s!$section 1 ma": among other matters: reglate:$

a in the case of each ind of instrment$the description of stamps which ma" !e sed;

! in the case of instrments stamped with impressed stamps$the nm!er of stamps which ma"!e sed;

c in the case of !ills of exchange or promissor" notes *2[E E E] the siGe of the paper on whichthe" are written.

CHAPTER II

STAMP&D'TIES

11. '%e o$ ahe%i/e %ta"2%-he following instrments ma" !e stamped with adhesi=e stamps: namel":$


8/22

a instrments chargea!le **[with a dt" not exceeding ten na"e paise]: except parts of !ills ofexchange pa"a!le otherwise than on demand and drawn in sets;

! !ills of exchange **A[EEE] and promissor" notes drawn or made ot of *[ndia];

c entr" as an ad=ocate: =ail or attorne" on the roll of a High ort;

d notarial acts; and

e transfers !" endorsement of shares in an" incorporated compan" or other !od" corporate.

1#. Can!ellation o$ ahe%i/e %ta"2%

1 a Whoe=er affixes an" adhesi=e stamp to an" instrment chargea!le with dt" which has!een exected !" an" person shall: when affixing sch stamp: cancel the same so that it cannot!e sed again; and

! Whoe=er exectes an" instrment on an" paper !earing an adhesi=e stamp shall: at the timeof exection: nless sch stamp has !een alread" cancelled in manner aforesaid: cancel the

same so that it cannot !e sed again.

2 An" instrment !earing an adhesi=e stamp which has not !een cancelled so that it cannot !esed again: shall: so far as sch stamp is concerned: !e deemed to !e nstamped.

* -he person reDired !" s!$section 1 to cancel an adhesi=e stamp ma" cancel it !" writingon or across the stamp his name or initials or the name or initials of his firm with the tre date ofhis so writing: or in an" other effectal manner.

1(. In%tr)"ent% %ta"2e ith i"2re%%e %ta"2% ho to +e ritten'=er" instrment written pon paper stamped with an impressed stamp shall !e written in schmanner that the stamp ma" appear on the face of the instrment and cannot !e sed for orapplied to an" other instrment.

1. Onl- one in%tr)"ent to +e on %a"e %ta"2No second instrment chargea!le with dt" shall !e written pon a piece of stamped paper ponwhich an instrment chargea!le with dt" has alread" !een written#%&3' that nothing in this section shall pre=ent an" endorsement which is dl" stamped oris not chargea!le with dt" !eing made pon an" instrment for the prpose of transferring an"right created or e=idenced there!": or of acnowledging the receipt of an" mone" or goods thepa"ment or deli=er" of which is secred there!".

10. In%tr)"ent ritten !ontrar- to %e!tion 1( or 1 ee"e )n%ta"2e'=er" instrment written in contra=ention of section 1* or section 14 shall !e deemed to !enstamped.

1. Denotin* )t-Where the dt" with which an instrment is chargea!le: or its exemption from dt": depends inan" manner pon the dt" actall" paid in respect of !oth the instrments: !e denoted pon schfirst mentioned instrment !" application is made in writing to the ollector for that prpose: andon prodction of !oth the instrments: !e denoted pon sch first mentioned instrment !"endorsement nder the hand of the ollector or in sch other manner if an" as the 7[,tateFo=ernment] ma" !" rle prescri!e.$f the time of stamping instrments

13. In%tr)"ent% exe!)te in Inia


9/22

All instrments chargea!le with dt" and exected !" an" person in *[ndia] shall !e stamped!efore or at the time of exection.

18. In%tr)"ent% other than +ill% an note% exe!)te o)t o$ Inia1 '=er" instrment chargea!le with dt" exected onl" ot of *[ndia] and not !eing a !ill ofexchange 2+[EEE] or promissor" note: ma" !e stamped within three months after it has !een firstrecei=ed in *[ndia].

2 Where an" sch instrment cannot: with reference to the description of stamp prescri!edtherefor: !e dl" stamped !" a pri=ate person: it ma" !e taen within the said period of threemonths to the ollector: who shall stamp the same: in sch manner as the 7[,tate Fo=ernment]ma" !" rle prescri!e: with a stamp of sch =ale as the person so taing sch instrment ma"reDire and pa" for.

19. 4ill% an note% ran o)t o$ Inia-he first holder in *[ndia] of an" !ill of exchange 19[pa"a!le otherwise than on demand]: 2+[E E E]or promissor" note drawn or made ot of *[ndia] shall: !efore he presents the same foracceptance or pa"ment: or endorses: transfers or otherwise negotiates the same in *[ndia]: affixthereto the proper stamp and cancel the same#

%&3' that:$a if: at the time an" sch !ill of exchange 2+[E E E] or note comes into the hands of an" holderthereof in 2+[ndia]: the proper adhesi=e stamp is affixed thereto and cancelled in mannerprescri!ed !" section 12 and sch holder has no reason to !elie=e that sch stamp was affixed orcancelled otherwise than !" the person and at the time reDired !" this Act: sch stamp shall: sofar as relates to sch holder: !e deemed to ha=e !een dl" affixed and cancelled;

! nothing contained in this pro=iso shall relie=e an" person from an" penalt" incrred !" him foromitting to affix or cancel a stamp.$f =alations for dt"

#5. Con/er%ion o$ a"o)nt ex2re%%e in $orei*n !)rren!ie%

1 Where an instrment is chargea!le with ad =alorem dt" in respect of an" mone" expressedin an" crrenc" other than that of 2+[ndia] sch dt" shall !e calclated on the =ale of schmone" in the crrenc" of 2+[ndia] according to the crrent rate of exchange on the da" of thedate of the instrment.

2 -he entral Fo=ernment ma": from time to time: !" notification in the fficial FaGette:prescri!e a rate of exchange for the con=ersion of >ritish or an" foreign crrenc" into thecrrenc" of 2+[ndia] for the prposes of calclating stamp$dt": and sch rate shall !e deemedto !e the crrent rate for the prposes of s!$section 1.

#1. Sto!6 an "ar6eta+le %e!)ritie% ho to +e /al)eWhere an instrment is chargea!le with ad =alorem dt" in respect of an" stoc or of an"mareta!le or other secrit": sch dt" shall !e calclated on the =ale of the date of the

instrment.

##. E$$e!t o$ %tate"ent o$ rate o$ ex!han*e or a/era*e 2ri!eWhere an instrment contains a statement of crrent rate of exchange: or a=erage price: as thecase ma" reDire: and is stamped in accordance with sch statement: it shall: so far as regardsthe s!?ect$matter of sch statement: !e presmed: ntil the contrar" is pro=ed: to !e dl"stamped.

#(. In%tr)"ent% re%er/in* intere%tWhere interest is expressl" made pa"a!le !" the terms of an instrment: sch instrment shall


10/22

not !e chargea!le with dt" higher than that with which it wold ha=e !een chargea!le had notmention of interest !een made therein.9[2*A. ertain instrments connected with mortgages of mareta!le secrities to !e chargea!leas agreements

1 Where an instrment not !eing a promissor" note or !ill of exchange$

a is gi=en pon the occasion of the deposit of an" mareta!le secrit" !" wa" of secrit" formone" ad=anced or to !e ad=anced !" wa" of loan: or for an existing or ftre de!t: or

! maes redeema!le or Dalifies a dl" stamped transfer: intended as a secrit": of an"mareta!le secrit": it shall !e chargea!le with dt" as if it were an agreement or memorandmof an agreement chargea!le with dt" nder *4[Article No.5c] of ,chedle .

2 A release or discharge of an" sch instrment shall onl" !e chargea!le with the lie dt".]

#. Ho tran%$er in !on%ieration o$ e+t, or %)+7e!t to $)t)re 2a-"ent, et!. to +e !har*eWhere an" propert" is transferred to an" person in consideration: wholl" or in part: of an" de!tde to him: or s!?ect either certainl" or contingentl" to the pa"ment or transfer of an" mone" orstoc: whether !eing or constitting a charge or encm!rance pon the propert" or not: sch

de!t: mone" or stoc is to !e deemed the whole or part: as the case ma" !e: of the considerationin respect whereof the transfer is chargea!le with ad =alorem dt"#

%&3' that nothing in this section shall appl" to an" sch certificate of sale as is mentionedin Article No. 18 of ,chedle .

'xplanation# n the case of a sale of propert" s!?ect to a mortgage or other encm!rance: an"npaid mortgage mone" or mone" charged: together with the interest if an" de on the same:shall !e deemed to !e part of the consideration for the sale#

%&3' that: where propert": s!?ect to a mortgage is transferred to the mortgagee: he shall!e entitled to dedct from the dt" pa"a!le on the transfer the amont of an" dt" alread" paid inrespect of the mortgage.

Ill)%tration%

1 A owes > &s. 1:+++. A sells a propert" to >: the consideration !eing &s. 5++ and the releaseof the pre=ios de!t of &s. 1:+++. ,tamp dt" is pa"a!le on &s. 1:5++.

2 A sells propert" to > for &s. 5++ which is s!?ect to a mortgage to for &s. 1:+++ and npaidinterest &s. 2++. ,tamp dt" is pa"a!le on &s. 1:C++.

* A mortgages a hose of the =ale of &s. 1+:+++ to > for &s. 5:+++. > afterwards !"s thehose from A. ,tamp dt" is pa"a!le on &s. 1+:+++ less the amont of stamp dt" alread" paidfor the mortgage.

#0. al)ation in !a%e o$ ann)it-, et!.Where an instrment is exected to secre the pa"ment of an annit" or other sm pa"a!leperiodicall": or where the consideration for a con=e"ance is an annit" or other sm pa"a!leperiodicall": the amont secred !" sch instrment or the consideration for sch con=e"ance: asthe case ma" !e: shall: for the prposes of this Act !e deemed to !e$

a where the sm is pa"a!le for a definite period so that the total amont to !e paid can !epre=iosl" ascertained$sch total amont;

! where the sm is pa"a!le in perpetit" or for an indefinite time not termina!le with an" life in


11/22

!eing at the date of sch instrment or con=e"ance$the total amont which: according to theterms of sch instrment or con=e"ance: will or ma" !e pa"a!le dring the period of twent" "earscalclated from the date on which the first pa"ment !ecomes de; and

c where the sm is pa"a!le for an indefinite time termina!le with an" life in !eing at the date ofsch instrment or con=e"ance$the maximm amont which will or ma" !e pa"a!le as aforesaiddring the period of twel=e "ears calclated from the date on which the first pa"ment !ecomesde.

#. Sta"2 here /al)e o$ %)+7e!t&"atter i% ineter"inateWhere the amont or =ale of the s!?ect$matter of an" instrment chargea!le with ad =aloremdt" cannot !e: or in the case of an instrment exected !efore the commencement of this Actcold not ha=e !een: ascertained at the date of its exection or first exection: nothing shall !eclaima!le nder sch instrment more than the highest amont of =ale for which if stated in aninstrment of the same description: the stamp actall" sed wold: at the date of sch exection:ha=e !een sfficient#*5[%&3' that: in case of the lease of a mine in which ro"alt" or a share of the prodce isrecei=ed as the rent or part of the rent: it shall !e sfficient to ha=e estimated sch ro"alt" or the=ale of sch share: for the prpose of stamp dt":$

a when the lease has !een granted !" or on !ehalf of *7[the go=ernment]: at sch amont or=ale as the ollector ma": ha=ing regard to all the circmstances of the case: ha=e estimated asliel" to !e pa"a!le !" wa" of ro"alt" or share to *7[the go=ernment] nder the lease: or

! when the lease has !een granted !" an" other person: at twent" thosand rpees a "ear:and the whole amont of sch ro"alt" or share: whate=er it ma" !e: shall !e claima!le nder schlease#]

%&3' A(, that where proceedings ha=e !een taen in respect of an instrment ndersection *1 or 41: the amont certified !" the ollector shall !e deemed to !e the stamp actall"sed at the date of exection.

#3. a!t% a$$e!tin* )t- to +e %et $orth in in%tr)"ent

-he consideration if an" and all other facts and circmstances affecting the chargea!ilit" of an"instrment with dt": or the amont of the dt" with which it is chargea!le: shall !e fll" and trl"set forth therein.

#8. Dire!tion a% to )t- in !a%e o$ !ertain !on/e-an!e%

1 When an" propert" has !een contracted to !e sold for one consideration for the whole: and iscon=e"ed to the prchaser in separate parts !" different instrments: the consideration shall !eapportioned in sch manner as the parties thin fit: pro=ided that a distinct consideration for eachseparate part is set forth in the con=e"ance relating thereto: and sch con=e"ance shall !echargea!le with ad =alorem dt" in respect of sch distinct consideration.

2 Where propert" contracted to !e prchased for one consideration for the whole: !" two or

more persons ?ointl": or !" an" person for himself and others: or wholl" for others: is con=e"ed inparts !" separate instrments to the persons !" or for whom the same was prchased: for distinctparts of the consideration: the con=e"ance of each separate part shall !e chargea!le with ad=alorem dt" in respect of the distinct part of the consideration therein specified.

* Where a person: ha=ing contracted for the prchase of an" propert" !t not ha=ing o!tained acon=e"ance thereof: contracts to sell the same to an" other person and the propert" is inconseDence con=e"ed immediatel" to the s!$prchaser: the con=e"ance shall !e chargea!lewith ad =alorem dt" in respect of the consideration for the sale !" the original prchaser to thes!$prchaser.


12/22

4 Where a person: ha=ing contracted for the prchase of an" propert" !t not ha=ing o!tained acon=e"ance thereof: contracts to sell the whole: or an" part thereof: to an" other person orpersons and the propert" is in conseDence con=e"ed !" the original seller to different persons inparts: the con=e"ance of each part sold to a s!$prchaser shall !e chargea!le with ad =aloremdt" in respect onl" of the consideration paid !" sch s!$prchaser: withot regard to theamont or =ale of the original consideration: and the con=e"ance of the reside if an" of schpropert" to the original prchaser shall !e chargea!le with ad =alorem dt" in respect onl" of theexcess of the original consideration o=er the aggregate of the considerations paid !" the s!$prchasers#

%&3' that the dt" on sch last$mentioned con=e"ance shall in no case !e less than onerpee.

5 Where a s!$prchaser taes an actal con=e"ance of the interest of the person immediatel"selling to him: which is chargea!le with ad =alorem dt" in respect of the consideration paid !"him and is dl" stamped accordingl": an" con=e"ance to !e afterwards made to him of the samepropert" !" the original seller shall !e chargea!le with a dt" eDal to that which wold !echargea!le on a con=e"ance for the consideration o!tained !" sch original seller: or: wheresch dt" wold exceed fi=e rpees: with a dt" of fi=e rpees.

'$t" !" whom pa"a!le

#9. D)tie% +- ho" 2a-a+len the a!sence of an" agreement to the contrar": the expense of pro=iding the proper stamp shall!e !orne$

a in the case of an" instrment descri!ed in an" of the following Articles of ,chedle : namel"#$No. 2. Administration >onds:*C[No. 7. Agreement relating to eposit of -itle deeds: %awn or %ledge]:No. 1*. >ill of 'xchange:No. 15. >onds:No. 17. >ottomr" >ond:No. 27. stoms >ond:

No. 2C. e!entre:No. *2. 6rther harge:No. *4. ndemnit"$!ond:No. 4+. )ortgage$deed:No. 49. %romissor"$note:No. 55. &elease:No. 57. &espondentia >ond:No. 5C. ,ecrit" >ond or )ortgage$deed:No. 58. ,ettlement:No. 72a. -ransfer of shares in an incorporated compan" or other !od" corporate:No. 72!. -ransfer of de!entres: !eing mareta!le secrities: whether the de!entre is lia!le todt" or not: except de!entres pro=ided for !" section 8:No. 72c. -ransfer of an" interest secred !" a !ond: mortgage$deed or polic" of insrance:

!" the person drawing: maing or execting sch instrment#

*8[! in the case of a polic" of insrance other than fire$insrance$ !" the person effecting theinsrance#!! in the case of a polic" of fire$insrance$ !" the person issing the polic"#]

c in the case of a con=e"ance inclding a recon=e"ance of mortgaged propert" !" the grantee#in the case of a lease or agreement to lease$ !" the lessee or intended lessee#

d in the case of a conterpart of a lease$ !" the lessor#


13/22

e in the case of an instrment of exchange$ !" the parties in eDal shares#

f in the case of a certificate of sale$ !" the prchaser of the propert" to which sch certificaterelates# and:

g in the case of an instrment of partitionI !" the parties thereto in proportion to their respecti=eshares in the whole propert" partitioned: or: when the partition is made in exection of an orderpassed !" a &e=ene$athorit" or ci=il cort or ar!itrator: in sch proportion as sch athorit":cort or ar!itrator directs.

(5. O+li*ation to *i/e re!ei2t in !ertain !a%e%An" person recei=ing an" mone": exceeding twent" rpees in amont: or an" !ill of exchange:cheDe or promissor" note for an amont exceeding twent" rpees: or recei=ing in satisfaction orpart satisfaction of a de!t an" mo=a!le propert" exceeding twent" rpees in =ale: shall: ondemand !" the person pa"ing or deli=ering sch mone": !ill: cheDe: note or propert": gi=e a dl"stamped receipt for the same.*9[An" person recei=ing or taing credit for an" premim or consideration for an" renewal of an"contract of fire$insrance: shall: within one month after recei=ing or taing credit for sch premimor consideration: gi=e a dl" stamped receipt for the same.]

CHAPTER III

AD:'DICATION AS TO STAMPS

(1. A7)i!ation a% to 2ro2er %ta"21 When an" instrment: whether exected or not and whether pre=iosl" stamped or not: is!roght to the ollector: and the person !ringing it applies to ha=e the opinion of that officer as tothe dt" if an" with which it is chargea!le: and pa"s a fee of sch amont not exceeding fi=erpees and not less than 4+[fift" na"e paise] as the ollector ma" in each case direct: theollector shall determine the dt" if an" with which: in his ?dgment the instrment ischargea!le.

2 6or this prpose the ollector ma" reDire to !e frnished with an a!stract of the instrment:

and also with sch affida=it or other e=idence as he ma" deem necessar" to pro=e that all thefacts and circmstances affecting the chargea!ilit" of the instrment with dt": or the amont ofthe dt" with which it is chargea!le: are fll" and trl" set forth therein: and ma" refse toproceed pon an" sch application ntil sch a!stract and e=idence ha=e !een frnishedaccordingl"#

%&3' that$

a no e=idence frnished in prsance of this section shall !e sed against an" person in an"ci=il proceeding: except in an enDir" as to the dt" with which the instrment to which it relates ischargea!le; and

! e=er" person !" whom an" sch e=idence is frnished: shall: on pa"ment of the fll dt" withwhich the instrment to which it relates: is chargea!le: !e relie=ed from an" penalt" which he ma"ha=e incrred nder this Act !" reason of the omission to state trl" in sch instrment an" of the

facts or circmstances aforesaid.

(#. Certi$i!ate +- Colle!tor1 When an instrment !roght to the ollector nder section *1 is: in his opinion: one of adescription chargea!le with dt"; and$

a the ollector determines that it is alread" fll" stamped: or

! the dt" determined !" the ollector nder section *1: or sch a sm as: with the dt" alread"paid in respect of the instrment: is eDal to the dt" so determined: has !een paid: the ollector


14/22

shall certif" !" endorsement on sch instrment that the fll dt" stating the amont with whichit is chargea!le has !een paid.

2 When sch instrment is: in his opinion: not chargea!le with dt": the ollector shall certif" inmanner aforesaid that sch instrment is not so chargea!le.

* An" instrment pon which an endorsement has !een made nder this section: shall !e

deemed to !e dl" stamped or not chargea!le with dt": as the case ma" !e; and: if chargea!lewith dt": shall !e recei=a!le in e=idence or otherwise: and ma" !e acted pon and registered asif it had !een originall" dl" stamped#

%&3' that nothing in this section shall athorise the ollector to endorse$

a an" instrment exected or first exected in *[ndia] and !roght to him after the expiration ofone month from the date of its exection or first exection: as the case ma" !e;

! an" instrment exected or first exected ot of *[ndia] and !roght to him after theexpiration of three months after it has !een first recei=ed in *[ndia]; or

c an" instrment chargea!le **[with a dt" not exceeding ten na"e paise]: or an" !ill ofexchange or promissor" note: when !roght to him: after the drawing or exection thereof: onpaper not dl" stamped.

CHAPTER I

INSTR'MENTS NOT D'LY STAMPED

((. Exa"ination an i"2o)nin* o$ in%tr)"ent%1 '=er" person ha=ing !" law or consent of parties athorit" to recei=e e=idence: and e=er"person in charge of a p!lic office: except an officer of police: !efore whom an" instrment:chargea!le: in his opinion: with dt": is prodced or comes in the performance in his fnctionsshall: if it appears to him that sch instrment is not dl" stamped: impond the same.

2 6or that prpose e=er" sch person shall examine e=er" instrment so chargea!le and soprodced or coming !efore him: in order to ascertain whether it is stamped with a stamp of the=ale and description reDired !" the law in force in *[ndia] when sch instrment was exectedor first exected#

%&3' that$

a nothing herein contained shall !e deemed to reDire an" )agistrate or 0dge of a criminalcort to examine or impond: if he does not thin fit so to do: an" instrment coming !efore him inthe corse of an" proceeding other than a proceeding nder hapter J or hapter JJJ3 of theode of riminal %rocedre: 1898#

! in the case of a 0dge of a High ort: the dt" of examining and imponding an" instrmentnder this section ma" !e delegated to sch officer as the cort appoints in this !ehalf.

* 6or the prposes of this section: in cases of do!t:$

a 2C[the 7[,tate Fo=ernment]] ma" determine what offices shall !e deemed to !e p!lic offices;and

! 2C[the 7[,tate Fo=ernment]] ma" determine who shall !e deemed to !e persons in charge ofp!lic offices.

(. S2e!ial 2ro/i%ion a% to )n%ta"2e re!ei2t%Where an" receipt chargea!le **[with a dt" not exceeding ten na"e paise] is tendered to orprodced !efore an" officer nstamped in the corse of the adit of an" p!lic accont: schofficer ma" in his discretion instead of imponding the instrment: reDire a dl" stamped receiptto !e s!stitted therefor.


15/22

*5. nstrments not dl" stamped inadmissi!le in e=idence: etc.No instrment chargea!le with dt" shall !e admitted in e=idence for an" prpose !" an" personha=ing !" law or consent of parties athorit" to recei=e e=idence: or shall !e acted pon:registered or athenticated !" an" sch person or !" an" p!lic officer: nless sch instrment isdl" stamped#

%&3' that$

a an" sch instrment not !eing an instrment chargea!le **[with a dt" not exceeding tenna"e paise] onl": or a !ill of exchange or promissor" note: shall: s!?ect to all ?st exceptions: !eadmitted in e=idence on pa"ment of the dt" with which the same is chargea!le or: in the case ofan instrment insfficientl" stamped: of the amont reDired to mae p sch dt": together witha penalt" of fi=e rpees: or: when ten times the amont of the proper dt" or deficient portionthereof exceeds fi=e rpees: of a sm eDal to ten times sch dt" or portion;

! where an" person from whom a stamped receipt cold ha=e !een demanded: has gi=en annstamped receipt and sch receipt: if stamped: wold !e admissi!le in e=idence against him:then sch receipt shall !e admitted in e=idence against him on pa"ment of a penalt" of one rpee!" the person tendering it;

c where a contract or agreement of an" ind is effected !" correspondence consisting of two or

more letters and an" one of the letters !ears the proper stamp: the contract or agreement shall !edeemed to !e dl" stamped;

d nothing herein contained shall pre=ent the admission of an" instrment in e=idence in an"proceeding in a riminal ort: other than a proceeding nder hapter J or hapter JJJ3 ofthe ode of riminal %rocedre: 1898;

e nothing herein contained shall pre=ent the admission of an" instrment in an" cort whensch instrment has !een exected !" or on !ehalf of the go=ernment or where it !ears thecertificate of the ollector as pro=ided !" section *2 or an" other pro=ision of this Act.

(. A"i%%ion o$ in%tr)"ent here not to +e ;)e%tioneWhere an instrment has !een admitted in e=idence: sch admission shall not: except aspro=ided in section 71: !e called in Destion at an" stage of the same sit or proceeding on thegrond that the instrment has not !een dl" stamped.

(3. A"i%%ion o$ i"2ro2erl- %ta"2e in%tr)"ent%2C[-he 7[,tate Fo=ernment] ma" mae rles pro=iding that: where an instrment !ears a stampof sfficient amont !t of improper description: it ma": on pa"ment of the dt" with which thesame is chargea!le !e certified to !e dl" stamped: and an" instrment so certified shall then !edeemed to ha=e !een dl" stamped as from the date of its exection.

(8. In%tr)"ent% i"2o)ne ho ealt ith1 Where the person imponding an instrment nder section ** has !" law or consent ofparties athorit" to recei=e e=idence and admits: sch instrment in e=idence pon pa"ment of apenalt" as pro=ided !" section *5 or of dt" as pro=ided !" section *C: he shall send to theollector an athenticated cop" of sch instrment: together with a certificate in writing: statingthe amont of dt" and penalt" le=ied in respect thereof: and shall send sch amont to theollector: or to sch person as he ma" appoint in this !ehalf.

2 n e=er" other case: the person so imponding an instrment shall send it in original to theollector.

(9. Colle!tor1 When a cop" of an instrment is sent to the ollector nder section *8: s!$section 1: hema": if he thins fit 41[EEE] refnd an" portion of the penalt" in excess of fi=e rpees which has!een paid in respect of sch instrment.


16/22


17/22

! nothing in this section shall affect the 4*[ode of i=il %rocedre: section l44 clase *].

(. Pro%e!)tion $or o$$en!e a*ain%t %ta"2 la-he taing of proceedings or the pa"ment of a penalt" nder this chapter in respect of an"instrment shall not !ar the prosection of an" person who appears to ha=e committed anoffence against the stamp$law in respect of sch instrment#

%&3' that no sch prosection shall !e institted in the case of an" instrment in respect ofwhich sch a penalt" has !een paid: nless it appears to the ollector that the offence wascommitted with an intention of e=ading pa"ment of the proper dt".

. Per%on% 2a-in* )t- or 2enalt- "a- re!o/er %a"e in !ertain !a%e%1 When an" dt" or penalt" has !een paid nder section *5: section *C: section 4+ or section41: !" an" person in respect of an instrment: and: !" agreement or nder the pro=isions ofsection 29 or an" other enactment in force at the time sch instrment was exected: some otherperson was !ond to !ear the expense of pro=iding the proper stamp for sch instrment: thefirst$mentioned person shall !e entitled to reco=er from sch other person the amont of the dt"or penalt" so paid.

2 6or the prpose of sch reco=er" an" certificate granted in respect of sch instrment nderthis Act shall !e conclsi=e e=idence of the matters therein certified.

* ,ch amont ma": if the cort thins fit: !e inclded in an" order as to costs in an" sit orproceeding to which sch persons are parties and in which sch instrment has !een tendered ine=idence. f the cort does not inclde the amont in sch order: no frther proceedings for thereco=er" of the amont shall !e maintaina!le.

0. Poer to Re/en)e a)thorit- to re$)n 2enalt- or ex!i%e )t- in !ertain !a%e%1 Where an" penalt" is paid nder section *5 or section 4+: the hief ontrolling &e=ene$athorit" ma": pon application in writing made within one "ear from the date of the pa"ment:refnd sch penalt" wholl" or in part.

2 Where: in the opinion of the hief ontrolling &e=ene$athorit": stamp$dt" in excess of thatwhich is legall" chargea!le has !een charged and paid nder section *5 or section 4+: schathorit" ma": pon application in writing made within three months of the order charging thesame: refnd the excess.

. Non&lia+ilit- $or lo%% o$ in%tr)"ent% %ent )ner %e!tion (81 f an" instrment sent to the ollector nder section *8: s!$section 2: is lost: destro"ed ordamaged dring transmission: the person sending the same shall not !e lia!le for sch loss:destrction or damage.

2 When an" instrment is a!ot to !e so sent: the person from whose possession it came intothe hands of the person imponding the same: ma" reDire a cop" thereof to !e made at theexpense of sch first$mentioned person and athenticated !" the person imponding schinstrment.

3. Poer o$ 2a-er to %ta"2 +ill% an 2ro"i%%or- note% re!ei/e +- hi" )n%ta"2eWhen an" !ill of exchange 44[or promissor" note] chargea!le 45[with a dt" not exceeding tenna"e paise] is presented for pa"ment nstamped: the person to whom it is so presented: ma"

affix thereto the necessar" adhesi=e stamp: and: pon cancelling the same in mannerherein!efore pro=ided: ma" pa" the sm pa"a!le pon sch !ill 47[or note]: and ma" charge thedt" against the person who oght to ha=e paid the same: or dedct it from the sm pa"a!le asaforesaid: and sch !ill 47[or note] shall: so far as respects the dt": !e deemed good and =alid#

%&3' that nothing herein contained shall relie=e an" person from an" penalt" orproceeding to which he ma" !e lia!le in relation to sch !ill 47[or note].

8. Re!o/er- o$ )tie% an 2enaltie%All dties: penalties: and other sms reDired to !e paid nder this hapter ma" !e reco=ered !"


18/22

the ollector !" distress and sale of the mo=a!le propert" of the person from whom the same arede: or !" an" other process for the time !eing in force for the reco=er" of arrears of land

CHAPTER

ALLO?ANCES OR STAMPS IN CERTAIN CASES

9. Alloan!e $or %2oile %ta"2%,!?ect to sch rles as ma" !e made !" 5[the 7[,tate Fo=ernment]] as to the e=idence to !ereDired or: the enDir" to !e made: the ollector ma": on application made with the periodprescri!ed in section 5+: and if he is satisfied as to the facts: mae allowance for impressedstamps spoiled in the cases hereinafter mentioned: namel":$

a the stamp on an" paper inad=ertentl" and ndesignedl" spoiled: o!literated or !" error inwriting or an" other means rendered nfit for the prpose intended !efore an" instrment writtenthereon is exected !" an" person;

! the stamp on an" docment which is written ot wholl" or in part: !t which is not signed orexected !" an" part" thereto;

c in the case of !ills of exchange 19[pa"a!le otherwise than on demand] or promissor" notes$

1 the stamp on 4C[an" sch !ill of exchange 48[EEE] signed !" or on !ehalf of the drawer whichhas not !een accepted or made se of in an" manner whate=er or deli=ered ot of his hands foran" prpose other than !"wa" of tender for acceptance#

%&3' that the paper on which an" sch stamp is impressed: does not !ear an" signatreintended as or for the acceptance of an" !ill of exchange 48[E E E] to !e afterwards writtenthereon;

2 the stamp on an" promissor" note signed !" or on !ehalf of the maer which has not !eenmade se of in an" manner whate=er or deli=ered ot of his hands;

* the stamp sed or intended to !e sed for 19[an" sch !ill of exchange] 49[E E E] or promissor"note signed !": or on !ehalf of: the drawer thereof: !t which from an" omission or error has!een spoiled or rendered seless: althogh the same: !eing a !ill of exchange 49[E E E] ma" ha=e!een presented for acceptance or accepted or endorsed: or: !eing a promissor" note: ma" ha=e!een deli=ered to the pa"ee# pro=ided that another completed and dl" stamped !ill of exchange49[E E E] or promissor" note is prodced identical in e=er" particlar except in the correction ofsch omission or error as aforesaid: with the spoiled !ill 49[E E E] or note;

d the stamp sed for an instrment exected !" an" part" thereto which$

1 has !een afterwards fond to !e a!soltel" =oid in law from the !eginning;

2 has !een afterwards fond nfit: !" reason of an" error or mistae therein: for the prposeoriginall" intended;

* !" reason of the death of an" person !" whom it is necessar" that it shold !e exected:withot ha=ing exected the same: or of the refsal of an" sch person to execte the same:cannot !e completed so as to effect the intended transaction in the form proposed;

4 for want of the exection thereof !" some material part": and his ina!ilit" or refsal to sign thesame: is in fact incomplete and insfficient for the prpose for which it was intended;

5 !" reason of the refsal of an" person to act nder the same: or to ad=ance an" mone"intended to !e there!" secred: or !" the refsal or non$acceptance of an" office there!"granted: totall" fails of the intended prpose;

7 !ecome seless in conseDence of the transaction intended to !e there!" effected !eingeffected !" some other instrment !etween the same parties and !earing a stamp of not less=ale;


19/22

C is deficient is =ale and the transaction intended to !e there!" effected has !een effected !"some other instrment !etween the same parties and !earing a stamp of not less =ale;

8 is inad=ertentl" and ndesignedl" spoiled: and in lie whereof another instrment made!etween the same parties and for the same prpose is exected and dl" stamped#

%&3' that: in the case of an exected instrment: no legal proceeding has !een

commenced in which the instrment cold or wold ha=e !een gi=en or offered in e=idence andthat the instrment is gi=en p to !e cancelled.

'xplanation# -he certificate of the ollector nder section *2 that the fll dt" with which aninstrment is chargea!le: has !een paid is an impressed stamp within the meaning of thissection.

05. A22li!ation $or relie$ )ner %e!tion 9 hen to +e "ae-he application for relief nder section 49 shall !e made within the following periods: that is tosa":$

1 in the cases mentioned in clase d5: within two months of the date of the instrment;

2 in the case of a stamped paper on which no instrment has !een exected !" an" of theparties thereto: within six months after the stamp has !een spoiled;

* in the case of a stamped paper in which an instrment has !een exected !" an" of theparties thereto: within six months after the date of the instrment: or: if it is not dated: within sixmonths after the exection thereof !" the person !" whom it was first or alone exected#

%&3' that:$

a when the spoiled instrment has !een for sfficient reasons sent ot of *[ndia]: theapplication ma" !e made within six months after it has !een recei=ed !ac in *[ndia];

! when: from na=oida!le circmstances: an" instrment for which another instrment has !eens!stitted: cannot !e gi=en p to !e cancelled within the aforesaid period; the application ma"!e made within six$months after the date of exection of the s!stitted instrment.

01. Alloan!e in !a%e o$ 2rinte $or"% no lon*er re;)ire +- !or2oration%

-he hief ontrolling &e=ene$athorit" 5+[or the ollector if empowered !" the hiefontrolling &e=ene$athorit" in this !ehalf] ma": withot limit of time: mae allowance forstamped papers sed for printed forms of instrments: 51[!" an" !aner or] !" an" incorporatedcompan" or other !od" corporate: if for an" sfficient reason sch forms ha=e ceased to !ereDired !" the said 51[!aner]: compan" or !od" corporate# pro=ided that sch athorit" issatisfied that the dt" in respect of sch stamped paper has !een dl" paid.

0#. Alloan!e $or "i%)%e %ta"2%a When an" person has inad=ertentl" sed for an instrment chargea!le with dt": a stamp of adescription other than that prescri!ed for sch instrment !" the rles made nder this Act: or astamp of greater =ale than was necessar" or has inad=ertentl" sed an" stamp for an instrmentnot chargea!le with an" dt"; or

! When an" stamp sed for an instrment has !een inad=ertentl" rendered seless nder

section 15: owing to sch instrment ha=ing !een written in contra=ention of the pro=isions ofsection 1*: the ollector ma": on application made within six months after the date of theinstrment: or: if it is not dated: within six months after the exection thereof !" the person !"whom it was first or alone exected: and pon the instrment: if chargea!le with dt": !eing re$stamped with the proper dt": cancel and allow as spoiled the stamp so missed or renderedseless.

0(. Alloan!e $or %2oile or "i%)%e %ta"2% ho to +e "aen an" case in which allowance is made for spoiled or missed stamps: the ollector ma" gi=e inlie thereof$


20/22

a other stamps of the same description and =ale; or

! if reDired and he thins fit: stamps of an" other description to the same amont in =ale; or

c at his discretion: the same =ale in mone": dedcting *[ten na"e paise] for each rpee orfraction of a rpee.

0. Alloan!e $or %ta"2% not re;)ire $or )%eWhen an" person is possessed of a stamp or stamps which ha=e not !een spoiled or renderednfit or seless for the prpose intended: !t for which he has no immediate se: the ollectorshall repa" to sch person the =ale of sch stamp or stamps in mone": dedcting 52[ten na"epaise] for each rpee or portion of a rpee: pon sch person deli=ering p the same to !ecancelled: and pro=ing to the ollectorBs satisfaction$

a that sch stamp or stamps were prchased !" sch person with a !ona fide intention to sethem; and

! that he has paid the fll price thereof; and

c that the" were so prchased with in the period of six months next preceding the date on whichthe" were so deli=ered#

%&3' that: where the person is a licensed =endor of stamps: the ollector ma": if he thinsfit: mae the repa"ment of the sm actall" paid !" the =endor withot an" sch dedction asaforesaid.

5*[54A. Allowances for stamps in denomination of annasNotwithstanding an"thing contained in section 54: when an" person is possessed of a stamp orstamps in an" denominations: other than in denominations of annas for of mltiples thereof andsch stamp or stamps has or ha=e not !een spoiled: the ollector shall repa" to sch person the=ale of sch stamp or stamps in mone" calclated in accordance with the pro=isions of s!$section 2 of section 14 of the ndian oinage Act: 19+7: pon sch person deli=ering p: withinsix months from the commencement of the ndian ,tamp Amendment Act: 1958: sch stamp orstamps to the ollector.]

54[54>. Allowances for &efgee &elief ,tamps

Notwithstanding an"thing contained in section 54: when an" person is possessed of stamps!earing the inscription @&efgee &elief@ !eing stamps issed in prsance of section *A !eforeits omission and sch stamps ha=e not !een spoiled: the ollector shall: pon sch persondeli=ering p: within six months: from the commencement of the &efgee &elief -axes A!olition

Act: 19C*: sch stamps to the ollector: refnd to sch person the =ale of sch stamps inmone" or gi=e in lie thereof other stamps of the same =ale#

%&3' that the ,tate Fo=ernment ma": with a =iew to facilitating expeditios disposal ofclaims for sch refnds: specif": in sch manner as it deems fit: an" other procedre which ma"also !e followed for claiming sch refnd.]

00. Alloan!e on reneal o$ !ertain e+ent)re%When an" dl" stamped de!entre is renewed !" the isse of a new de!entre in the sameterms: the ollector shall: pon application made within one month: repa" to the person issing

sch de!entre: the =ale of the stamp on the original or on the new de!entre: whiche=er shall!e less#

%&3' that the original de!entre is prodced !efore the ollector and cancelled !" him insch manner as the ,tate Fo=ernment ma" direct.

'xplanation# A de!entre shall !e deemed to !e renewed in the same terms within the meaningof this section notwithstanding the following charges#

a the isse of two or more de!entres in place of one original de!entre: the total amontsecred !eing the same;


21/22

! the isse of one de!entre in place of two or more original de!entres: the total amontsecred !eing the same;

c the s!stittion of the name of the holder at the time of renewal for the name of the originalholder; and

d the alteration of the rate of interest or the dates of pa"ment thereof.

REERENCE AND REISION

0. Control o$, an %tate"ent o$ !a%e to, Chie$ Controllin* Re/en)e&a)thorit-1 -he power exercisa!le !" a ollector nder hapter 3 and hapter 3 55[and nder clasea of the first pro=iso to section 27] shall in all cases !e s!?ect to the control of the hiefontrolling &e=ene$athorit".

2 f an" ollector: acting nder section *1: section 4+ or section 41: feels do!t as to theamont of dt" with which an" instrment is chargea!le: he ma" draw p a statement of the case:and refer it: with his own opinion thereon: for the decision of the hief ontrolling &e=ene$athorit".

* ,ch athorit" shall consider the case and a cop" of its decision to the ollector who shallproceed to assess and charge the dt" if an" in conformit" with sch decision.

03. State"ent o$ !a%e +- Chie$ Controllin* Re/en)e&a)thorit- to Hi*h Co)rt1 -he hief ontrolling &e=ene$athorit" ma" state an" case referred to it nder section 57:s!$section 2: or otherwise coming to its notice: and refer sch case: with its own opinionthereon:$

57[a if it arises in a ,tate to the High ort for that ,tate;]

5C[! if it arises in the /nion territor" of elhi to the High ort of elhi;]

58[c if it arises in the /nion territor" of Arnachal %radesh or )iGoram: to the Fahati Highort the High ort of Assam: Nagaland: )eghala"a: )anipr and -ripra;]

d if it arises in the /nion territor" of the Andaman and Nico!ar slands: to the High ort atalctta; 59[E E E]

e if it arises in the /nion territor" of the 7+[(ashadweep]: to the High ort of


22/22

5. State"ent o$ !a%e +- other !o)rt% to Hi*h Co)rt1 f an" cort: other than a cort mentioned in section 5C: feels do!t as to the amont of dt"to !e paid in respect of an" instrment nder pro=iso a to section *5: the 0dge ma" draw p astatement of the case and refer it: with his own opinion thereon: for the decision of the High ort74[E E E] to which: if he were the hief ontrolling &e=ene$athorit": he wold: nder section 5C:refer the same.

2 ,ch cort shall deal with the case as if it had !een referred nder section 5C: and send acop" of its ?dgment nder the seal of the cort and the signatre of the &egistrar to the hiefontrolling &e=ene$athorit" and other lie cop" to the 0dge maing the reference: who shall:on recei=ing sch cop": dispose of the case conforma!l" to sch ?dgment.

* &eferences made nder s!$section 1: when made !" a cort: s!ordinate to a istrictort: shall !e made throgh the istrict ort: and: when made !" an" s!ordinate re=enecort: shall !e made throgh the cort immediatel" sperior.

1. Re/i%ion o$ !ertain e!i%ion% o$ !o)rt% re*arin* the %)$$i!ien!- o$ %ta"2%1 When an" cort in the exercise of its ci=il or re=ene ?risdiction of an" criminal cort in an"proceeding nder hapter J or hapter JJJ3 of the ode of riminal %rocedre: 1898: maesan" order admitting an" instrment in e=idence as dl" stamped or as not reDiring a stamp: orpon pa"ment of dt" and a penalt" nder section *5: the cort to which appeals lie from: or

references are made !": sch first$mentioned cort ma": of its own motion or on the applicationof the ollector: tae sch order into consideration.

2 f sch cort: after sch consideration: is of opinion that sch instrment shold not ha=e !eenadmitted in e=idence withot the pa"ment of dt" and penalt" nder section *5: or withot thepa"ment of a higher dt" and penalt" than those paid: it ma" record a declaration to that effect:and determine the amont of dt" with which sch instrment is chargea!le: and ma" reDire an"person in whose possession or power sch instrment then is: to prodce the same: and ma"impond the same when prodced.

* When an" declaration has !een recorded nder s!$section 2: the cort recording the sameshall send a cop" thereof to the ollector: and: where the instrment to which it relates has !eenimponded or is otherwise in the possession of sch cort: shall also send him sch instrment.

4 -he ollector ma" therepon: notwithstanding an"thing contained in the order admitting schinstrment in e=idence: or in an" certificate granted nder section 42: or in section 4*: prosectean" person for an" offence against the ,tamp$law which the ollector considers him to ha=ecommitted in respect of sch instrment#

%&3' that

a no sch prosection shall !e institted where the amont inclding dt" and penalt" which:according to the determination of sch cort: was pa"a!le in respect or the instrment ndersection *5: is paid to the ollector: nless he thins that the offence was committed with anintention of e=ading pa"ment of the proper dt";

! except for the prposes of sch prosection: no declaration made nder this section shallaffect the =alidit" of an" order admitting an" instrment in e=idence: or of an" certificate grantednder section 42.

Date post:	04-Jun-2018
Category:	Documents
Upload:	rajdeeppawar
View:	226 times
Download:	0 times

Indian Stamp Act.doc

Documents