[Cites 0, Cited by 0]
[Entire Act]
State of Andhra Pradesh - Section
Section 164 in Reductions and Remissions (Andhra Pradesh)
164.
Reduced the Stamp Duty payable in respect of following documents under Schedule I-A to the Indian Stamp Act, 1899. Vide G.O. 588, Rev. (R-1), Dated 04.12.2013.| Article of Schedule 1-A | Nature of Document | Existing Stamp duty | Rate of Stamp Duty now fixed |
| Article 31 (a)(i) | Lease deeds for less than 1 year | 0.4% of total rent | 0.4% on the total rent |
| Article 31 (a)(ii) | Lease deeds for 1-5 years: | ||
| For residential properties | 0.4% of total rent | 0.5% on average annual rent | |
| In other case | 0.4% of total rent | 1% on average annual rent | |
| Article 31 (a)(iii) | Lease deeds for 5-10 years: | ||
| For residential properties | 0.4% of total rent | 1% on average annual rent | |
| In any other case | 0.4% of total rent | 2% on average annual rent | |
| Article 31 (a) (iv) | Lease deeds for 10-20 years | 0.6% of the total rent | 6% on the average annual rent reserved |
| Article 31 (a) (v) | Lease deeds for 20-30 | 0.8% of the total rent | 15 % on the average annual rent reserved |
| Article 31 (a) (vi) | Lease deeds for more than 30 years or in perpetuity | 5% of the market value of the property or value of ten times of AAR whichever is higher. | 3% of the market value of the property` |
| Article 31 (b) | Lease granted for fine, premium or money advanced without rent. | 5% of the market value of the property or the amount or value of such fine or premium or advance as set forth in the lease, whichever is higher. | 2% on fine, premium or money advanced |
| Article 31 (c) | Lease granted for fine, premium or fro money advance in addition to the rent. | 5% on fine, premium or money advanced in addition to the duty which would have been payable on such lease, if no fine or premium or advance had been paid or delivered | 2% on fine, Premium or money advance in addition to the duty which would have been payable on such lease, if no fine or premium or advance had been paid or delivered |
| Article 31 (d) | Where lessee undertakes to Effect improvements and make over to lessor at the time of termination of lease. | 5% on the value of the improvements contemplated to be made by the lessee as set forth in the deed in addition to the duty chargeable under clauses (a) )(b) or (c) | 2% on the value of improvements. |
| Article 33 (b) | Licence granted for lumpsum amount | 55 on the lumpsum amount as set forth in the license. | 2% on the lumpsum amount. |
| Article 33 ( c) | License granted for lumpsum amount in addition to rent. | 5% on the lumpsum amount advance as set froth in the license in addition to the duty which would have been payable on such license if no lumpsum amount advance had been paid or delivered | 2% on the lumpsum amount advanced as set forth in the license in addition to the duty which would have been payable on such license if no lumpsum amount advanced had been paid or delivered. |