Indian Stamp (Andhra Pradesh Amendment) Act, 1998*
| [Andhra Pradesh Act No. 8 of 1998] | [19th March, 1998] |
An Act Further to Amend the Indian Stamp Act, 1899 in its Application to the State of Andhra Pradesh.
Be it enacted by the Legislative Assembly of the State of Andhra Pradesh in the Forty-eighth Year of the Republic of India, as follows:-
* Received the assent of the Governor on the 19-01-1998, and Assent of the President received on 09-03-1998. For statement of object end reasons Please see Andhra Pradesh Gazette, Part-IV-A. Extraordinary dated 19-03-97 at page 8-9.
1. Short title extent and commencement.- (1) This Act may be called the Indian stamp (Andhra Pradesh Amendment) Act, 1998.
(2) It extends to the whole of the State of Andhra Pradesh.
(3) It shall come, into force on such date as the State Government may, try notification in the Andhra Pradesh Gazette, appoint.
2. Amendment of section 2.- In the Indian Stamp Act, 1899, (Central Act II of 1899) (hereinafter referred to as the principal Act) as in force in the State of Andhra Pradesh, in section 2, for clause (10), the following shall be substituted, namely:-
"(10) "Conveyance" includes a conveyance on sale, every instrument and every decree or final order of any civil court, by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in or declared to be of any other person, intervivos, and which is not otherwise specifically provided for by Schedule-I or Schedule-I-A, as the case any be.
Explanation: I: An instrument whereby a co-owner of any property transfers his interest to another co-owner of the property and which is not an instrument of partition, shall, for the purposes of this clause, be deemed to be an instrument by which property is transferred istervives.
Explanation: II: An instrument whereby a partner transfers his share in the property of the partnership business to another partner or to other partners, whether separately or together with transfer of other business assets on retirement or dissolution or whereby contributes to the capital of the partnership firm by transferring his right and title to, or interest in any property, is for the purpose of this clause an instrument by which property is transferred.".
3. Insertion of new section 10-A.- In the principal Act, after section 10, the following section shall be inserted, namely:-
10-A "Payment of duty in cash.- (1) Notwithstanding any thing contained in section 10, where the Government or the Collector as the case may be is satisfied that there is shortage of stamps in the district or stamps of required denominations are not available, the Government or the Collector, may permit payment of the duty to be paid in cash or by way of Demand Draft or by Pay Order and authorise the Treasury Officer or Sub-Treasury Officer or Sub-Registrar or any other officer, as the case may be, on production of a challan evidencing payment of duty in the Government Treasury or Sub-Treasury or a Demand Draft or by Pay Order drawn on a Branch of any scheduled bank, as the case may be, after due verification, to certify in such manner as may be prescribed by endorsement on the instrument of the amount of duty so paid in cash.
Explanation: ‘Government Treasury’ includes a Government Sub-Treasury and any other place as the State Government may, by notification in the Andhra Pradesh Gazette, appoint in this behalf:
Provided that the State Government may, by order publish in the Andhra Pradesh Gazette, direct that the power exercisable by it or by the Collector under, this section may be exercised by such other, officers as may be specified, in the order.
(2) An endorsement made on any instrument under sub-section (1) shall have the same effect as if the duty of an amount equal to the amount stated in the endorsement has been paid in respect thereof and such payment has been indicated on such instrument by, means of stamps in accordance with the requirements of section 10.
(3) Nothing in this section shall apply to;-
(i) the payment of stamp duty chargeable on the instruments specified in Entry 91 of List 1 of the Seventh Schedule to the Constitution of India; and
(ii) the instruments presented after four months from the date of their execution or first execution.".
4. Amendment of section 17.- In the principal Act, to section 17, the following proviso shall be added, namely:-
"Provided that nothing in this section shall apply to the instruments in respect of which stamp duty has been paid under section 10-A.".
5. Amendment of section 27.- In the principal Act, to section 27, the following proviso shall be added, namely:-
"Provided that a registering officer appointed under the Registration Act, 1908 (Central Act 16 of 1908) or any other officer authorised in this behalf, may inspect the property, which is the subject matter of such instrument, make necessary local enquiries call for and examine all the connected records and satisfy that the provisions of this section are complied with.".
6. Amendment of section 41-A.- In the principal Act, in section 41-A, in sub-section (3), for the words, "Commissioner of Survey, Settlement and Land Records" the words "Chief Controlling Revenue Authority" shall be substituted.
7. Amendment of section 47-A.- In the principal Act, in section 47-A,-
(i) for sub-sections (1) and (2), the following shall be substituted, namely:-
"(1) Where the registering officer appointed under the Registration Act, 1908, (Central Act 16 of 1908) while registering any instrument of conveyance, exchange, gift, partition, settlement, release, agreement relating to construction, development or sale of any immovable property or power of attorney, given for sale, development, of immovable property, has reason to believe that the market value of the property which is the subject-matter of such instrument has not been truly setforth in the instrument, or that the value arrived at by him as per the guidelines prepared or caused to be prepared by the Government from time to time has not been adopted by the parties, he may keep pending such instrument and refer the matter to the Collector for determination of the market value of the property and the proper duty payable thereon:
Provided that no reference shall be made by the registering officer unless an amount equal to fifty per cent of the deficit duty arrived at by him is deposited by the party concerned.
(2) On receipt of a reference under sub-section (1), the Collector shall, after giving the parties an opportunity of making their representation and after holding an enquiry in such manner as may be prescribed by rules made under this Act, determine the market value of the property which is the subject matter of such instrument and the duty as aforesaid:
Provided that no appeal shall be preferred unless and until the difference, if any, in the amount of duty is paid by the person liable to pay the same, after deducting the amount already deposited by him:
Provided further that where after the determination of market value by the Collector, if the stamp duty borne by the instrument is found-sufficient, the amount deposited shall be returned to the person concerned without interest.";
(ii) for sub-section (6), the following shall be substituted, namely:-
"(6) For the purposes of this Act, market value of any property shall be estimated to be the price which in the opinion of the Collector or the appellate authority, as the case may be, such property would have fetched or would fetch if sold in the open market on the date of execution of any instrument referred to in sub-section (1):
Provided that in respect of instruments executed by or on behalf of the Central Government or the State Government or any authority or body incorporate by or under any law for the time being in force and wholly owned by Central/State Government, the market value of any property shall be the value shown in such instrument.".
8. Amendment of section 49.- In the principal Act, in section 49, the explanation shall be numbered as "Explanation-I" and after the said Explanation, as so renumbered, the following Explanation shall be added, namely:-
"Explanation-II: The endorsement made under section 10-A is an impressed stamp within the meaning of this section to the extent of the amount as specified therein.".
9. Amendment of section 50.- In the principal Act, in section 50, after sub-section (3), the following shall be added, namely:-
"(4) in the case of instrument bearing an endorsement under section 10-A within six months after the endorsement is made.".