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UT Chandigarh - Section
Section 5 in The Indian Stamp (Punjab Amendment) Act, 1998
5. Agreement or Memorandum of an Agreement.-
| Descriptionof Instrument | ProperStamp-duty | ||
| (a) | if relatingto the sale of a bill of exchange; | Twenty fiverupees | |
| (b) | if relatingto the sale of a Government Security or share in incorporatedcompany or other body corporate; | Five rupeesfor every ten thousand or part thereof the value of the securityr share. | |
| (c) | if relatingto the sale of immovable property; | Threehundred rupees. | |
| (d) | if nototherwise provided for; | Fifteenrupees. | |
| Exemptions: | |||
| Agreement orMomorandum of Agreement- | |||
| (a) for orrelating to the sale of goods or merchandise exclusively, notbeing a Note of Memorandum chargeable under entry No. 43; and | |||
| (b) made inthe form of tenders to the Central Government for or relating toany loan" ; | |||
| (iv) | for entry10, the following entry shall be substituted, namely: | ||
| "10. | Articles ofAssociation of a Company- | ||
| (a) when theauthorized capital of the company does not exceed one lac; and | Five hundredrupees | ||
| (b) In othercases | One thousandrupees | ||
| Exemptions : | |||
| Articles ofany Association not framed for profit and registered underSection 25 of the Companies Act, 1956. | |||
| See alsoMemorandum of Association of a Company (entry No. 39)."; | |||
| (v) | for entry48, the following entry shall be substituted, namely:- | ||
| "48.Power of Attorney as defined by section 2 (21), not being aproxy (entry No. 52) - | |||
| (a) | whenextended for the sale purpose of procuring the registration ofone or more documents in relation to a single transaction or foradmitting execution of one or more such documents; | One hundredrupees. | |
| (b) | whenrequired in suits or proceedings under Presidency Small CauseCourts Act, 1882; | One hundredrupees. | |
| (c) | whenauthorising one person or more to act in a single transactionother than the case mentioned in clause (a); | Threehundred rupees. | |
| (d) | whenauthorizing not more than five persons to act jointly andseverally in more than one transaction or generally; | Threehundred rupees. | |
| (e) | whenauthorizing more than five but not more than ten persons tojointly and severally in more than one transaction or generally; | Six hundredrupees. | |
| (f) | when givenfor consideration and authorizing the attorney to sell anyimmovable property; and | The sameduty as ther conveyances (entry No. 23) as levied by this Actfor the amount of consideration. | |
| (g) | in any othercase | Seventy fiverupees. | |
| N.B.- Theterm "registration", includes every operation,incidental to registration under the Registration Act, 1908. |