Preamble
Indian Stamp (Himachal Pradesh Amendment) Act, 1992*
| [Himachal Pradesh Act No. 9 of 1992]1 | [2nd May, 1992] |
An Act further to amend the Indian Stamp Act, 1899 (Act No. 2 of 1899) in its application to the State of Himachal Pradesh.
Be it enacted by the Legislative Assembly of Himachal Pradesh in the Forty-third Year of the Republic of Indian as follows:-
Section 1. Short title
1. Short title.- This Act may be called the Indian Stamp (Himachal Pradesh Amendment) Act, 1992.
Section 2. Amendment of Schedule I-A
2. Amendment of Schedule I-A.- In Schedule I-A annexed to the Indian Stamp Act, 1899, (2 of 1899) in its application to the State of Himachal Pradesh, for Article 45, the following shall be substituted, namely:-
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"45. PARTITION, Instrument of as, defined by section 2(15).
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The same duty as Bond (No. 15) for the amount of the value of the separated share or shares of the property.
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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 shares then one of such equal shares) shall be deemed to be that from which the other shares are separated:
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Provided always that-
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(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 affecting such a partition shall be reduced by the amount of duty paid in respect of first instrument but shall not be less than five rupees;
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(b) where land is held on Revenue Settlement for a period-
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(i) not exceeding forty years, and paying full assessment, the value for the purpose of stamp duty shall be calculated at not more than ten times of annual revenue; and
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(ii) exceeding forty years and paying full assessment, the value for the purpose of stamp duty shall be calculated at not more than twenty times the annual revenue; and
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(c) where a final order for affecting 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 five rupees".
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