Assam act 007 of 1950 : The ASSAM STAMP (AMENDMENT) ACT, 1950

300

ASSAM ACT Vll OF 1950 *TH E ASSAM STAMP (AMENDMENT) ACT, 1950 [Published in the "Assam Gazette, Extraordinary", dated the 30th Marco 1950] An

Act

to amend the Indian Stamp Act, 1899, in its application to Assam Preamble.-Wbereas it is expedient to increase temporarily the revenues of Assam and for that purposes to amend the Indian Stamp Act, 1899 (lT of 1899), hereinafter called the principal Act, in its application to Assam, in the manner hereinafter appearing;

It is hereby enact.:d as follows :-

1. Short title, extent and commencement.-( J) This Act may be called the Assam Stamp (Amendment) Act. 1950.

(2) It extends to the whole of Assam.

(3) It shall come into force on tht! first day of April 1950 :tnd shall remain in force for a period of five years.

2. Amendment of section 3.- Jn section 3 of the principal Act,

(1) after clause (c) the following shall be inserted, namely :-

" Provided that, except as oth.:rwise expressly provided in this Act, and notwithstanding anything contained in clauses (a). (b) or (c) of this section the amount indicated in Schedule I to this Act shall. subject to the exemp- tions contained in that schedule, be the duty chargeable under this Act on the following instruments, mentioned in clauses (aa) and (bb) of this proviso, as the proper duty therefor respectively,-

(aa) every instrument, mentioned io Scbei..lulc T as chargeable with duty under that schedule, which. not having been previou~ly executed by any person, is executed in Assam on or after the first day of April 1950: and

(bb) every instrlllllent mentioned in Schedule l as chargeable with duty under that schedule, which, not having been previously executed by any person, is executed out of Assam on or after tbe tirst day of April 1950, and relates to any property situated, or to any matter or thing done or to be done in Assam, and is received in Assam,"

(2) after the word "provided" the word "also" shall be inserted.

3. Amendment of section 4(1).-In sub-section (1) of section 4 of the principal Act-

for the words "one rupee" the words "two rupees" shall be substituted.

4. Amendment of section 6.-In section 6 of the principa l Act,- In the proviso, for the words "one rupee" the words "two rupees" shall be substituted.

5. Amendment of section 28(4).- I n the proviso to sub-section (4) of section 28 of the principal Act, for the words "one rupee" the words ~'two rupees" shall be substituted.

*For statement of Objects and Reasons see "Assam Gazette". 1950, Par! V, page 32.

301

6. Amendment of section 32.-Jn section 32 of the princip::tl Act-

O) in clause (a ) of the proviso, after the words ·•any instrument" the words "other than an instrument chargeable witb a duty under clause (bb) of the first proviso to section 3" shall be inserted ;

(2) the word "or" at the end of clause (b) of the proviso shall be omitted ;

(3) after clause (c) of the proviso the following shall be inserted, namely:-

"or

(d) any instrument chargeable with duty under clause (bb) of the

first proviso to section 3 and brought to him after the expiration of three months from the date on which it is first received in Assam."

7. New Schedule IA.-ln Schedule I to the principal Act. for items t{os.l-12, 15-20. 22-26, 28-36. 38-46. 48, 50-51, 54-61 and 63-65, the following sball be substituted, namely-

'SUHEDULE I

Stamp duty on certain Instruments under the Assam Stamp (Amendment) Act, 1950. (See section 3 and first proviso)

D~srriplion of' insu·umrnt Proper stamp-duty

( I) (2)

L ACKNOWLI!.DOMENT of a debt ex- One anna. ceeding tv.•t>ntr rupees in amount or value, written or signed by or on behalf f, a debtor in order to supply evidence f such debt in any book (other than a aoker's pass-book) or on a separate ieee of paper when such book or paper is eft in the creditor's possession: provided hat such acknowledgment does not con- ain any promise to pay the debt or any ipulation to pay interest or to deliver ny goods or other property.

2. ADMINISTRATION-BOND includ- ' g a bond given under section 6 of the overnment Savings Banks Act, 1373, Act V of 1873), or section 291 or ction 375 or section 376 of thl' Indian uccession Act, 1925 (Act XXXIX of

925) .

(a) Where the amount do<>s not The ~a me duty as a Bond (No.l5) exceed Rs.l ,000 for such amount.

(b) in any other case Ten rupees.

302

( Sched~le /) Description of illstrucrion Proper stamp-duty

(I) (2)

3. ADOPTION-DEED, that is to say, Twenty rupees. fi~W instrument (other than a will), re- cording an adoption, or conferring or .flurporting to confer au authority to adopt.

AovocATE.-See Entry as an advo-

cate (No.30).

4. AFFIDAVIT, including an affir- Two rupees. mantion or declaration in the case of persons by law allowed to affirm or declare instead of swearing.

Exemption

Affidavit or declaration m writing when made-

(a) as a condition of enli~tment under the the Indian Army Act, 1911 (Act VIII of 1911).

(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 enabl- ing any person to receive any pension or charitable allowance.

5. AGREEMENT OR MEMORANDUM

OF AN AGREEMENT-

(a) * * • * *

(b) (i) if relating to the sale of a Government security ;

Subject to a maximum of

rupees , two annas for

Rs.l 0,000 or part thereof, value of the securitY.

(ii) if relating to the safe of a share in an incorporated com- pany or other body corporate; Two annas for

part thereof of

share.

(c) if not othrewise provided for ; One rupee. 'I

303

(Schedule I) Description of instrument Proper stamp-duty

(I) (2)

(d) executed for service or for Four annas. 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 agree- ment does not exceed fifty ru- pees.

Exemptions

or memorandum of

(a) for or relating to the sale of good~ or merchandise exclusive- ly, not being a note or mernoran- Jum chargeable under No.4.:3.

(b) made in the form of tenders to the Government of I ndia for, or relating to, any loan AGREEMENT TO LEASE. -Scr lease

).

RELATING TO OEPO· OF TlTLC:·DEEDS, PAWN OR PLFDCE, is to say, any instrument t:vidcneing agreement relating to-

(1) the deposit of title deeds or ins- constituting or being evidence e title to any property whatever than a marketable security), or the pawn or pledge of movable .,,.,.,,~ .... .,, where such deposit, pawn ot· been made by way of security

the repayment of money advanced

to be aclvancecl by way of loan or an ting or fu lure debt-

(a) if such loan or debt is repay- able on demand or more than three months from the dale of

304

(Schedule I) Description of instrument Proper stamp-duty

(I) (2)

the instrument evidencing the agreement-

If drawn in If drawn on set of two, for set of three for If drawn each part of each part of singly the set the set

Rs. Rs. a. p. Rs. a. p. Rs. a. p.

(i) when the amount of the loan or debt does not exceed 200 0 4 6 0 3 0 0 6

(ii) when it exceeds Rs.200 but does not exceed 400 0 9 0 0 4 6 0 3 0 Ditto 400 ditto 600 0 13 6 0 7 6 0 4 6 Ditto 600 ditto 800 I 2 0 0 9 0 0 6 0 Ditto 800 ditto 1,000 6 6 0 12 0 0 7 6 Ditto 1,000 ditto 1,200 II 0 0 13 6 0 9 0 Ditto 1,200 ditto 1,600 2 4 0 1 2 0 0 12 0 Ditto 1,600 dittO 2,500 3 6 0 Ill 0 2 0 Ditto 2,500 ditto 5,000 6 12 0 3 6 0 2 4 0 Ditto 5,000 ditto 7,500 10 0 0 5 0 3 6 0 Dit.to 7,500 ditto 10,000 13 8 0 6 12 0 4 8 0 Diuo 10,000 ditto 15,000 20 4 0 10 2 0 6 12 0 D iuo 15,000 ditto 20,000 27 0 0 13 8 0 9 0 0 D itto 20,000 ditto 25,000 33 12 0 16 14 0 11 4 0 Ditto 2 ,000 ditto 30,000^4{) 8 0 20 4 0 13 8 3 and for every additional Rs. 10,000 or part thereof in excess of Rs.30,000 ..¹³8 0 6 12 0 4 8 0

(b) if such loan or debt is repay- Half the duty payable on able not more than three or debt under clause (a) months fmm the date of such clause (a) ( ii) for the a instrument. secured.

7. APPOINTMENT IN EXECUTION OF Twenty-five rupees. A POWER, whether of trustees or of pro- perty , movable or immovable, whether made by any writing not being a will.

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 The same duty as a Bottomry exceed Rs.l ,000. (No. l6) for such amount.

(b) in any other case. Ten rupees.

I

....... ~ .. -........... -... ,,.. ... ~~~~~~':::

305

( Scfledttle I) Description of instrument

(I)

Exemptitms

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

(b) Apprai:.emenl of crops for thf"

purpose ol asccttaining the amount to be gh·cn to a landlorrl as rent.

9. APPR.ENTICESHIP·l>EEO, including ery writing relating lo the sen·ice- or ition of an y appren lice, clerk or scl'vaHl laced with auy master to lea.rn an) pro- essiou, trade ur etnployrncnt: not h :: illg rticles of Clcrk-,hip (~o.l J ) . gwmptions

Instrument~ of apprenti~:c:-ship exc• uted IJy a l'vfagistratt: under the Ap· rentice::. . \ ct, W:'>U (Act ~\JX uf W.JO,~. r by which a person is apprenticed by, or t the charge of, any public clr-.u·ity.

10. ARTICLES 01 i\SSOUIA'l'ION OF A CoMPANY-

(a) where the Hominal share capiral rlnc.> not C'XCf't•d one lakh of mpft·s;

(b) where til<: n<,tni tt:11 ~han.: c.:api· taJ CXCCI'dS VliC J.tkh.

Art ide~ nf ; 1 " Y as~o< i•Hion n .. l i See also :\'l<:mOT"andllnt of \&.<;oriilt iott of a C:ott1p

(2)

Ten n1pees. Fif'ly rupees.

306

(Schedul8 I ) Description on instrument

(1)

11 . ARTICLES OF CLERKSHIP or contract whereby any person first becomes bound to se!Ve as clerk in order to his admission as an attorney in any High Court. AssiGNMENT- See Conveyance (No.23), Transfer ( ' o.62) and Transfer of leal:>e (N(,.63), as the case may be.

ATTORNEY-See entry as an Attorney (No.30), and Power-of-attorney (No.48). AuTHORITY TO ADOPT--Sec Adop-

tion-deed (No.3) .

12. AWARD, that is to say, a.ny deci- sion 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-

(a) where the amount or value of the property to which the ..1ward relates as set forth in such award does not exceed Rs.l,OOO ;

(b) if it exceeds Rs.l,OOO b ut does not exceed Rs.S,OOO ;

and for every additional Rs.l ,000 or part thereof in excess of Rs.5,000.

E:>.·emptions

Award under the Bombay D istrict Municipal Act, 1901 (Bombay Act III of

190 I), Section 160, or the Bombay H eredi- tary O ffices Act, 1874 (Bombay Act IIJ of 1874), Section 18.

13.

14.

* • *

15. BoND [as defined by section 2(5)], not being a DEDENTURE (No.27), and not being o therwise provided for by this Acl, or by-the Court-fees Act, 1870 (Act VII of 1870)-

. where the amount or value secured does not exceed Rs. l 0 ; where it exceeds Rs.IO and does not exceed Rs.50 ;

where it exceeds Rs.50 and does uot e..'(ceed Rs.lOO ;

Proper stamp-duty

(2)

Two hundred and fifty r upees. The same duly as a Bond (No.1· for such amount .

Ten rupees.

Eight axmas subj ect to of ftfty TUpees.

*

*^*

Two annas.

Four annas.

Eight annas.

•

307

(Schedule 1) Dc~.:riptiotl ol' in,uun.,..nt

( I)

where it exceed~ R.s.lUO and docs not ~x<.eed Rs.200 ;

'"!ten: it exceeds Rs.200 and docs not e:xceed Rs. 300 ;

where it exceeds &.300 and doe~ not exceed Rs.400 ;

where it exceeds Rs.400 and does not e.xceed Rs.500 ;

where it exceed!) R~ . .JOO and does uot cxceecl..Rs.600 ;

where j t exceeds Rs. 000 and du~.:~ noL cxct'ccl Rs. 700 :

where it exceeds L{s. 700 and does not ~:xceed R s.80U ;

where it exceeds Rs.800 and doc!> n•>t. exceeds R s. 900 ;

where it exceeds Rs. 900 and docs not exceed Rs.l,OOO ;

and fol' every Rs.SOO or part thereof in cxcess ofRs.l,OOO.

See Administration-lkmcl (No.:l)> Bottomrr Bond (No.l6), Customs Bond (No.:-!6), Indemnity Bond (No.34), Res- pondentia. Rnnd (No.56), Security Bonet (~o.57).

EA'CmjJiions

.Bond> when execUted by-

(a) headmen nominated under rules framed in accordanci.' with the Bengal Irrigation Act, 1876 (Beng·. Act Ill of 1876), Section 99, for the due performance of their duties under thal Acl ;

(b) any person lor the purpo~e of guaranteeing that the locat income derived ti·om private subscriptio1l!! to a charitable dispensary or hospital or nny o ther object of public utility, shall not be less than a sprcific<.l :.urn per memem.

Prover Hatup-duty

(2)

~)ne ntpcc. Two rupe<·-; low annas. Three rupe~.

Three rupees lweln: aunas. Four rupee.., ei~bt annas. Fi,ce rupees iuur aunas. i:iix rupee~.

Six rupees twelve au11~:.,. Seven rupees eight amJ..\.; , Three rupee:; twelve

308

Dcscriptiou of i n~tnunrnt

(I)

16. BoTTOMRY BoNo. that is Lo say, any instrument whcr~by the mast<'r of a sea-going ship borruw~ money on the security of the ship to enable hirn to preserve the ship or prosecute her voy- age-

where the amoun l or value secured does not exceed Rs.lO :

where it exceeds Rs.l 0 and docs not exceed R s.50 ;

where it exceeds Rs.50 and docs not exceed Rs.lOO ;

where it exceeds Rs.IOO and doe:. not exceed Rs.200 ;

where it exceeds Rs. 200 and does not exceed Rs.300 ;

where it e..xceeds Rs.300 and does not exceed Rs.400 ;

where it exceeds Rs.400 and docs not exceed Rs.500 ;

where it exceeds Rs.SOO and does not exceed Rs.600 ;

where it exceeds Rs.600 and does not exceed R s.700 :

where it exceeds Rs.700- and does not exceed Rs.800 ;

where it e..xceeds Rs.800 and does not exceed Rs.900 ;

where it exceeds Rs.900 a nd docs not exceed Rs.l ,000 ;

and for evety Rs.500 or part

thereof in excess of Rs.l,OOO.

17. CANCELLATION-Instrument of (including any instrument by which any instrument previously executed is can· celled), if attested and not otherwise provided for.

See also RELEASE (~o.55}, Revo- ca tion of Settlement (No.58-B), Surren· der of Lease (No.6l), R evocation of Trust (No.64-B).

18. CERTIFICATE OF SAL£ (in res• pect of each property put up as a separate lot and sold), gtantcd to the purchaser of any property sold by public auctiou by a Civil or Revenue Court, or Collector or other Re\·enue officcr-

(a) where the purchasc ·moncy does no~ exceed Rs.l 0 ;

J)

PJ·upcr-slamp·duty

(2)

'l h1 ee annas. Six annas.

Twelve a nnas. One rup~e eight annas. Two rupees four annas. Three rupees.

Three rupees twelve annas. Fou r rupees eight annas. fi\•e rupees four annas. Six rupees.

Six rupees n,,-clvc annas. Seven rupees eight annas. Three rupees twelve annas. Seven rupees eight annas. Four anna!>.

Ut"SLripltou nl i ns tl UIU

309

1.1

(Sc/u>rluft•

(b) where dw purd~ t tt docs uot t:·xcccd Rs.23

(r ) in .:lly othc1 case I U. GJ::RTIFICAT£ nR OTI-JF.R noct- MENT evidencing the right ot Iitle of i.ilc holder thcl'enfor any other pcrl>on, either to any shares, ~nip or .-1ock in or or 1hcr l>orl:

corpora re, r. r to becomt' prop• i.-tc•r of sha1 cs, .<.crip or 1;tocJ.: in or or any su eh rumpany or b11d)'·

See LnTER

SnAREs

0~ .\ Ll.\1 l.\11·.£1; l^I))

(~'io.3u) .

:20. CHAn·rER I'ARn, that i.o., lo say, auy instrumnll (except an agrPemc1l t for 1 he h li'C o(' a llt~·Slc';\lller ), whtTCb) a vcs;.cJ or ~onw :,pecifird pt i11cipal parl thereof i$ let l(n 1 he specified purposes of the char1c1 , whether j t indndes a penalty clause or not.

*

:!2. C O.\fPO:,r'J HJ:-H>CJ:.ll. tit at 1s 10 ::,ay, any iastnunclll executed by a debtor, whereby he convey:s his pro· pert y lor the bene fir of his creditors, or whereby payment of a composition Pl' dividend on their· dchh i~ ~ccured 1.o the creditors, or whereby provision is made for the cuutinuaucc of Lhc deb- tor's busiuc~!>, under the :.upervision of inspectors or under letter:; of liceme, for the benefit of his creditors.

2S. CoNVEYANCE La~ defined b~

section :2(10)], not being a Tnu13fcr charged or exempted 11nder )ilo.n2-

\\'here the tullOltlll or \'Him· · ,f tlw t·omickrattOl l liw ~udt Cllll\'t\ - ..tllt:e <.Is set forth thcrciu dot''>

uot ext.:eed Rs.!iO ;

/ )

Pwpct statnp-dul}

(2)

Eight '>l (Nu.~~l ), for a comidcratio11 cq to the alllount of the purch <. moncv only.

I' wo

J 'wo 1 upee~.

*

'l'wr ll l y 1uper<· .

'rw<'l\·e anna,;,

10

rno (Schedule I) Description of instrument

(I)

where it exceeds Rs.50 but does nol exceed R~.l 00 ;

where it exceeds Rs.lOO but does not exceed Rs.200 ;

where it exceeds Rs.200 but does not exceed Rs.300 ;

where il exceeds Rs.300 but docs not exceed Rs.400 ;

where it exceeds Rs.400 but does not exceed Rs.500

where il exceeds Rs.500 but does not exceed Rs.600 ;

where it exceed-; R.s.600 bu t does not exceed Rs. 700 ;

where it exceeds Rs.700 but does not exceed Rs.800 ;

where it exceeds Rs.800 but does not exceed Rs.900 ;

where it exceeds Rs.900 but does not exceed Rs.I,OOO ;

and for every Rs.500 or part there- of in excess of Rs.l ,000. Exemptions

Assignment of copyright under the Indian Copyright Act, 1914 (Act III of 1914), section 5. Co·PARTNERSHIP•DEED.-See Part· nership (No.46).

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

(i) if the original was not charge• able with duty, or if the duty · with which it was chargeable does not exceed one rupee ;

(ii) in any olher case not falling within the provisions of section

6A.

Proper stamp-duty

(2)

One rupee eight annas. Three rupees.

Four t'Upccs eight annas. Six rupees.

Seven mpc~ eight annas. )1ine rupees.

Ten rupees eight annas. Twelve rupees.

Thirteen rupees eight anuas. Fifteen n tpee::s.

Seven rupee~: eight annas. One rut:Jee.

T wo rupees.

11

311

(Schedule I) Description of irntrumenl {I)

ExemjJtions

(a) Copy of any paper 1·vl1ich a public officer is expressly required by law lo make o r rurn ish for record in any public office or for any public purpose.

(b) Copy of or extract fi"om, any register relating to bir ths, baptisms, namings, dedica- ticms, marriage~. divorc<:~s. deaths or burials.

25. OotJN'l'ERPART OR DuPL.IUATE of' any instrument, chargeable with duty and in respect of whidt the pr()per dut r Ita~ bec·n pa id ·

(a) iC the duty w.ith which the or i- gimtl instrunwnl i:> chargeable does !1<>1 exceed t\I'CJ rnpces ;

(b) in any o ther case not Jalling within the provisions of sf'c- [ion 6A.

Exemption

Counterpart r>f any lease granted to a cultivator, wheu such lease is f.Xt~mptcd fi·om duty.

~6. CusTmls-HoND-

27.

(a) where the amount dew!: not ex · cecd Rs.l ,000

(b) in nuy nthcr case

•

28. D ELIVER Y ORDER lN RESPECT OF cooos, that is to :my, any inslrumcut cu- titling any person therein named, or his assigns or the holder thereof, to the deli- very of any goods lying i.n any clock or porl or in any warehouse in which goods an· stored or deposited on renl or hire, or ttpon ;:my wharl~ such instrument being signed by or on behalf of the; owltcr of sur.h good~ upon the sale or tr;:wslb· of the pmp('ny therein, wht"n sw:h goods exreed in vaiLtt' *wenty rupees.

Proper stamp-duty

(2)

T he same dn lv as is payble ~on t} original. ·

Two mpecs.

The ~amc duty as a Bottomrv Bon (Nn. l6) for such amonnt.' '1 'en rupees .

... • •

One ann:1.

312

(Schedule I) Description of instrument Proper stamp-duty

(I) (2)

DEPOSIT OF TITLE-DEEDs-See Agree· ment relating to Deposit of Title-deeds, Pawn or Pledge (No.6).

DISSOLUTION OF P ARTNERSitLP-See Partner!;hip (No.46) .

29. DivORCE-Instrument of~ that is to say, any instrument by which any person effect.; the dissolution of his marriage. DoWER-Instrument of, See Settle- ment (No.58).

D uPLICATE-See Counterpart (l o.25).

30. ENTRY AS AN ADVOCATE, \1 AKlL OR A'rl'ORNEY ON TI-lE ROLL OF .\NY Hrcn CouRT, under the I ndian Bar Councils Act, 1926 (Act XXXVIll of 192u), or in excercisc of powers conferred on such Court by Letters Patent or by the Legal Practitioners Act, 1884(Act IX of 1884)-

(a) in the case of an Advocate or Vakil ;

(b) in the case of an Attorney E:mnption

Entry of an Advocare, Vaki l or Attorney on the roll of any High Court, when he has previously been enrolled in a High Court.

31 . ExcHANOf: or·· PROPERTY- Instru- ment of.

ExTRACT- See Copy (No.24·).

32. FURTHt::R CHARGE- Instrument of, that is to say, any instrument imposing a futher charge on mortgaged property-

(a) when the original mortgage is one of tbe description refer- red to in clause (a) of ,\rticle No.40 (that is, with pos~es- sion) ;

Five rupees.

Seven hundred and fift}' rupees. Five hundred rupees.

The same duty as a conveyance (No.23) for a consideration equal to the value of the property of greatest value as ~et forth in such instrument.

Tlte sarne duty as a conveyancr (No.23) for a consideration equal w 11tc amoum of the further charge secured by ~uch justrument. '

313

(Schedule /) llc:scn!Jlion u l I US i flllUUll !'roper starnp-duty

II) (2)

(b) when :.tt< .. h u1onga~e b om; of Ll ll: d<.::,cripLion rcll;rrcd to itJ cl,msc (b) of Atticlc No.40 (that i:,, wiihoul posscs~io tr)-

(i) il" ut the tum: of cX('Ctttiun ofti,c instrument uf l .1 !her dutg(' P?:;se::;~ion ul' Lire prnpt.rL}' is g1vcu ur Hg!'tl'U to IJc gi \'Cll ttndct ~udr iustrumcltl.

Tl.c same duly as a conveyance (I\ CJ.23) for a considern tion cy ual to the total amount of the chargc including the original mortgage and an) further charge already mack), less the dnty ulready paid on such nriginal mortgage and fur- ther charge.

(ii) if posses~:ion is not Ml givcn Th~:. same dul) a::. Hom.l (:'\u.15) lor tl1e amrJttnt of the further charge

set nrcd b) sueh imtnuncnt.

:n. GrFl - ln:,trumcllt 01; not hciug a

tLielltt:llt (Nu . .SU) n1 \Vi i! ur 'l'ran~kr

(l\o.G2).

HIRING !\(JR.C.E~IEN'l or ,l;.;rcCillt:nt lor

·ce, .S'ee /\grcemull (No.!>).

J-4. l NoEMNlTY Bor-;o

{1\:; t •Gt:l'OR~lHI' Dl:.l:ll .

~ i tion-Dl'cd (:\o.~~).

:~5. L:.:.sL, im· ! ndi!l~~ <.!It ttnderka~~. or

sub-lca~c and •til}' <•gn:cnJr=.ll to kt 01 ::;ub-

lel-

(a)wlttTt: b} ,wl1 !e.t~c tltl' H:lll i:,

n~ed and no pruninm i, pcaid

or deliy,·rccl-

(i) witcH· tl~t · k ,c pnrpt\J'I;. lo ht:

fut a liTUJ ot· lc , lltan vnc yt·ar ;

(i1) wlren: lha· l.·c~se pmpoll,; to l1e fin· a lt rm t•f trill lc:;s than t>llt:

year 1>111 lh>l nt••n· lh<~P !ave year.> ;

(iii) where the k

l'ho.:: s1.mc duty a:. a conveyance (l':o.n) for a ct111sidcralion equal to 1 hc \·alue 0f the property as set for t!J in ~~u ll imtrumcnt. l'he same d uty as a :;c<:urity Bond (:'\o.5 7) for the same amount. l'he !•amc duly a s a Bo ttomry lionel (1\u.ltl) for the wbolc

314

(Schedule I) Description of instrument

(1)

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

years ;

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

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

(vii) where the lease purports to be for a term exceeding one hun- dred years or in perpetuity ;

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

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

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

Proper stamp-duty

(2)

The same duty as a (No.23) for a consideration equal to twice the amount or value of the average annual rent reserved. The same duty as a conveyance (No.23) for a consideration equal to three times the amount or value· of the average annual rent reserved. The same duty as a conveyance (No.23) for a consideration equal to four times the amount or value of the average annual rent reserved. The same duty as a conveyance (No.23) for a consideration equal in the case of a lease granted solely for agricultural purposes to one· tenth and in other case to one-sixth of the whole amoun t of rents which would be paid or delivered in respect of the first fifty years of the lease. The same duty as a conveyance (No.23) for a consideration 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 conti· nued so long.

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 -tnrth"'~ in the lease.

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 deli· vered :

Provided that, in any case when 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 such lease shaH nort exceed twelve annas.

315

(Schedule D Description of imtrument

(I)

Exemption

(a) Lease, executed in the case of a cultivator and for the pur- poses of cultivation (including a lease of trees for the produc- tion 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 purpose of cultivation shall include a lease of lands for cultivation together with a homestead or tank.

(b) Lease of fisheries granted under the Burma Fisheries Act, 1905 (Burma Act III, 1905), or the Upper Burma Land and Revenue R egulation, 1889 (III of 1889).

Explanation.- When a lessee under- to pay any recurring charge, such as ~:nuPrr'""'"nt revenue, the landlord's share or the owner's share of municipal or taxes, which is by law recoverable the lessor, the amount so agreed be paid by the lessee shall be deemed to part of the rent.

36. LETTER OF ALLO'ThffiNT OF SHARES any company or proposed company, or respect of any loan to be raised by any ei.iltc>ntpalny or proposed company.

OR OTHER

• • Twoannas.

• Proper stamp-duty

(2)

• LETTER OF LICENcE, that is to say, agreement between a debtor and his Fifteen rupees.

that the latter shall, for a speci- time, suspend their claims and the debtor to carry on business at his discretion.

*

316

(Schedule ij Dl>sCription of instrument

(I)

39. MEMORANDUM OF AssociATION OF COMPANY-

(a) if accompanied by articles of association under section 17 of the Tndian Companies Act, 1 9~3 (Act VII of 1913) .

(b) if not so accompanied-

(i) where the nominal share capi- tal does not exceed one 1akh of rupees ;

(ii) where the nominal share capital exceeds one lakh ofrupees ;

Exemption

Memorandum of any association not formed for profll and registered under sec- tion 26 of the I ndian Companies Act, 1913 (Act VII of H.l l3).

40. M oRTOAOJo:-DEEO, not b eing an agreement xclaling to Deposit of Title- deeds, Pawn or P ledge (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 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 ;

Proper stamp-duty

(2)

Thirty rupees. Eighty rupees. One hundred and thirty ·lupees. The same duly as a conveyance (No.23) for a consideration equal to the amount secured by such deed. The same duty as a Bond (No.l5) for the amount secured by such deed.

a11 (Schedule f) ll~cription ofinsltum(·nt PtopC'r stnml -dllly ( 1) (~)

(c) when a collateral or auxiliary or ndditional or substituted

•;rcurity, or IJy way of fur- ther as>uraltcr lor the ahovr mc·nt ionrcl purpose where the prim ip:>l or· primary ser111 it) ·~ duly st:~mp~:cl-f(ll c·vc·ry s ttm secured not rxcc<·clin~ Rs.l ,000 ;

and liu· e\<:ry R s. l,OOO or p;trl thercoC ~ccun:d in c·xce•;•; o l Rs.l,OUO.

ExemjJ/ ior1s

( I) Instruments CXL'<'utcd by p<.:rsuns taking advantes under the Land J mpto\'cnwn L Loans J\ct , l Wl3 (Act X l X of WH3), <•l th<' Agriculturi ,ts Lo:1ns J\ct, lUll-! (t\ct XII of IBHIJ· ), or by tht'ir surctie~ ns sc·curity ftlr the n~pa~·mcrl L of such ndvances.

(2) Letter of' ;I( C

hypothcca li(m a bill qf ex·

41 . .!\fonTOA()I1 or A CROP induct- ing any instrunwn t c·videnring an ''~~n-e- mcnt to sccnrc the trpa) nH:nt of a lu.an mnclt: upcm i1l l) mortgaw· or .l (' fop, wheth •r till' crnp is 01 i!> not in C"-isktH't> at tlw tinu. ul the mortgage-

(a) when lhc loan is r epa)'ahlc not mnrc I han 1 h rcc· rnolltlts from the dntc of tlw imtrtJ· rncnt-

lC1r evf'ry s11m ~f'r11red not PXrr<'d- in!{ Rs. 200 ; and (;,,. t'Vt'ry .Rs-.2(J() OJ' p :t rl t ll (' J'I!of ~CI ' lll'<'cl i 11 excr~~ nl Rs.2011 ,

Twelve ann:as.

Our.: n tp<'e.

'l\1

Do.

18