Indian Stamp (Tamil Nadu Second Amendment) Act, 1975*
| [Tamil Nadu Act No. 40 of 1975]* | [27th November, 1975] |
An Act further to amend the Indian Stamp Act, 1899, in its application to the State of Tamil Nadu.
Be it enacted by the Legislature of the State of Tamil Nadu in the Twenty-sixth Year of the Republic of India as follows:-
* For Statement of Objects and Reasons, see Tamil Nadu Government Gazette Extraordinary, dated the 21st October, 1975. Part IV-Section 1, Page 225.
* Received the assent of the Governor on the 22nd November, 1975, first published in the Tamil Nadu Government Gazette Extraordinary on the 27th November, 1975 (Karthigai 11, Iratchasa (2006-Tiruvalluvar Andu))
1. Short title, extent and commencement.- (1) This Act may be called the Indian Stamp (Tamil Nadu Second Amendment) Act, 1975.
(2) It extends to the whole of the State of Tamil Nadu.
(3) It shall be deemed to have come into force on the 1st August, 1975.
2. Amendment of section 3, Central Act II of 1899.- In section 3 of the Indian Stamp Act, 1899 (Central Act II of 1899) (hereinafter referred to as the principal Act), after the fourth proviso, the following proviso shall be inserted, namely:-
"Provided also that any increase in the amount of duty chargeable under the Indian Stamp (Tamil Nadu Second Amendment) Act, 1975 shall not have the effect of increasing the duty payable in respect of instruments specified in clause (a) or clause (c) of this section and executed before the 1st August, 1975.".
3. Amendment of Schedule I Central Act II of 1899.- In Schedule I to the principal Act,-
(i) in Article 18, after clause (b), the following clause shall be inserted, namely:-
| "(bb) where the purchase-money exceeds Rs. 25 but does not exceed Rs. 50; | Three rupees."; |
(ii) for Article 23, the following Article shall be substituted, namely:-
| "23. CONVEYANCE [as defined by section 2(10)], not being a TRANSFER charged or exempted under No. 62- | |
| (a) of immovable property situated within the Cities of Madras and Madurai and Municipal towns of Coimbatore, Salem and Tiruchirappalli; | Eight rupees for every Rs. 100 or part thereof of the market value of the property which is the subject matter of conveyance; |
| (b) of any other property. | Six rupees for every Rs. 100 or part thereof of the market value of the property which is the subject matter of conveyance. |
| Explanation.-In the case of an instrument chargeable with the same duty as a conveyance under this Schedule, such instrument shall be charged with duty,- | |
| (a) at the rate specified in clause (a) of this Article, if such instrument relates to immovable property situated within the Cities of Madras and Madurai and Municipal towns of Coimbatore, Salem and Tiruchirappalli; and | |
| (b) at the rate specified in clause (b) of this Article, if such instrument relates to any other property. | |
| Exemption.-Assignment of copyright under the Copyright Act, 1957 (Central Act 14 of 1957), section 18."; |
(iii) in Article 54, for clause (b) and the entries relating thereto, the following clause and entries shall be substituted, namely:-
| "(b) in any other case,- | |
| (i) if the reconveyance relates to immovable property situated within the Cities of Madras and Madurai and Municipal towns of Coimbatore, Salem and Tiruchirappalli; | Eighty rupees. |
| (ii) if the reconveyance relates to any other property. | Sixty rupees."; |
(iv) in Article 59, for the entry in the second column, the following entry shall be substituted, namely:-
| "Nine rupees for every Rs. 100 or part thereof of the nominal amount of the shares specified in the warrant.". |
4. [Repeal].- *[* * *]
* The Indian Stamp (Tamil Nadu Amendment) Ordinance, 1975 (Tamil Nadu Ordinance 11 of 1975), is hereby repealed.