Section 75(2) in The M.P. Panchayat Raj Avam Gram Swaraj Adhiniyam, 1993
(2)The duty imposed under the Indian Stamp Act, 1899 (No. 2 of 1899) on instrument relating to mortgage of immovable property situated within the block be increased by one percent on the amount secured by the instrument of mortgage :Provided that such extra stamp duty levied in respect of mortgage shall not exceed the amount of stamp duty thereon :Provided further that no extra stamp duty is leviable in respect of any instrument of mortgage exempted from stamp duty under the Indian Stamp Act, 1899 or the rules made thereunder.] [Inserted by M.P. Act No, 2 of 1997 (w.e.f. 7-1-1997).]
