[Cites 0, Cited by 1025]

State of Karnataka - Act

Karnataka Stamp Act, 1957

KARNATAKA
India

Karnataka Stamp Act, 1957

Act 34 of 1957

Published on 1 April 1958
Commenced on 1 April 1958
[This is the version of this document from 1 April 1958.]
[Note: The original publication document is not available and this content could not be verified.]

Karnataka Stamp Act, 1957(Karnataka Act No. 34 of 1957)Last Updated 31th December, 2019Statement of Objects and Reasons - (Act 34 of 1957). - Different rates on stamp duty are in force in the various areas of the State. As it is very desirable to have the same rates of stamp duty in all the areas in all areas of new State, Government have decided to undertake legislation to achieve this object. Hence this Bill.The Bill makes provision for the levy of stamp duty on instruments at the rates in force the Madras Area.(Obtained from Notification L. A. No. 5848 dated 20-6-1957)Statement of Objects and Reasons - (Amending Act 8 of 1958). - The Government of India have decided that with effect from 1st April 1958, the rates of Stamp Duty should be expressed in decimal coinage. The new rates of non-postal stamps decided upon by the Government of India are in multiples of 5 Naye Paise. It has become necessary, therefore, to amend the Mysore Stamp Act, 1957, to adapt the rates of Stamp Duty decided upon by the Government of India. The Bill is intended to give effect to the new rates of non-postal stamps in decimal coinage, proposed to be brought into force from 1st April 1958.(Published in the Gazette (Extraordinary) Part IV-2A dated 4-3-1958 as No. 51)Statement of Objects and Reasons - (Amending Act 29 of 1962). - The State Government are committed to raise a sum of Rs. 42 crores by additional taxation. In order to meet the commitments of the schemes in the Second Five Year Plan and implementation of schemes in the Third Five Year Plan, the resources of the State have to be augmented. It is therefore proposed to increase the rates of stamp duty by fifty per cent in instruments in respect of which the State legislature is competent to levy stamp duty.With the passing of the Advocates Act, 1961, the roll of Advocates is now maintained by the State Bar Council and not by the High Court, As there is no instrument for entry on roll, it is proposed to levy stamp duty on the certificate of enrollment issued by the Bar Council. The Law Ministers Conference held at Srinagar in 1960, has recommended that the total fee payable by a Advocate on enrollment should not, inclusive of the fee payable to the Bar Council under the Advocate Act, exceed Rs. 500. Since a fee of Rs. 250 is payable to the Bar Council, it is proposed to fix the Stamp duty on the certificate of enrollment at Rs. 250.Opportunity has been taken to make certain other provision found necessary. The more important of these amendments are indicated below.The definition of instrument of partition is proposed to be amplified to cover documents in which the terms of partition effected are recorded.Sub-section (1) of section 53 of the Act does not empower the Chief Controlling Revenue Authority to exercise control over the Deputy Commissioner in cases other than those falling under Chapter IV and V and proviso (a) to section 27. In the interests of revenue, it is necessary to exercise control over the Deputy Commissioner in other cases also. Sub-section (1) of section 53 is therefore proposed to be amended.In respect of allowances for stamps, definite periods of limitation and the circumstances in which allowance is permissible have been laid down in Chapter V of the Act. In order to avoid hardship under the Indian Stamp Act, 1899, orders for refund of amounts paid for stamp duty were being made by Government in appropriate cases without any bar of limitation on the basis of certain Resolutions of the Government of India. It is considered desirable to take necessary power to issue such orders. The new section 52A has therefore been proposed. In order to enable the Chief Controlling Revenue Authority to grant relief under section 44 beyond the period of limitation in appropriate case, that section is also proposed to be amended.In a recent decision of the Supreme Court (Board of Revenue Vs. Vidyawati A.I.R. 1962 S.C. 1217) it has been held that while acting under section 56(2) of the Indian Stamp Act, 1899, (which corresponds to section 53(2) of the Mysore Stamps Act, 1957), the Board of Revenue should give the party concerned a reasonable opportunity to be herd in accordance with the principles of natural justice. As the principles of natural justice have to be followed by the Deputy Commissioner and the Chief Controlling Revenue Authority, it is proposed to insert a suitable provision in the Act. It is also considered necessary to make specific provision for rectification of mistakes by the different authorities. The new section 67A has accordingly been proposed.(Published in the Mysore Gazette (Extraordinary) Part IV-2A dated 27-8-1962 as No. 170 at page 25-26.)Statement of Objects and Reasons - (Amending Act 17 of 1966). - In order to ensure the collection of proper stamp duty in the case of awards, gifts and settlements it is considered necessary to charge duty on such instruments on the value of properties instead of on the value as set forth in the instruments. It is also considered necessary to amplify the different classes of instruments falling under Articles 5 and 37 and fix different rates of duty on such instruments. It is also proposed to amend sections 3 and 28, and insert new sections 63A and 67B.Hence the Bill.(Published in the Karnataka Gazette (Extraordinary) Part IV-2A dated 26.03.1966 as No.58 at page 8).Statement of Objects and Reasons - (Amending Act 17 of 1971). - In order to raise additional resources to be utilized exclusively for the relief of BanglaDesh refugees, the Government of Mysore has proposed to levy additional stamp duty at the flat rate of ten paise on every instrument chargeable with duty under the Mysore Stamp Act, 1957. The present measure is being enacted to give effect to the said proposal.2. The Committee constituted under the proviso to sub-section (2) of section 3 of the Mysore State Legislature (Delegation of Powers) Act, 1971 (23 of 1971), has been consulted before enactment of this measure as a President's Act.(Obtained from President Act 17 of 1971.)Statement of Objects and Reasons - (Amending Act 12 of 1972). - Under article 16 of the Schedule appended to the Mysore Stamp Act, 1957, the stamp duty payable on a share certificate is 30 naye paise. Section 11 of the Mysore Stamp Act, 1957, does not permit the use of adhesive stamps for payment of the stamp duty exceeding 15 naye paise. Thousands of share certificates have to be therefore submitted by the Companies to the Superintendent of Stamps and to the Government Press for getting the duty paid embossed on each certificate. As this procedure is found inconvenient, Government intends to amend the Act to enable the use of adhesive stamps upto 30 paise.-Vide Notification No. 7799, LA dated 19.11.1970.(Published in Karnataka Gazette, PART IV-2-A, dated 26.11.1970 at page 70.)Statement of Objects and Reasons - (Amending Act 4 of 1973). - President's Act 14 of 1971, 16 of 1971, 17 of 1971 and 18 of 1971 had been enacted to raise additional resources for the relief of Bangla Desh Refugees. They expire on 24th March 1973.It is proposed that while the additional levies for the relief of Bangla Desh Refugees may cease, the levies may be retained till 31st March 1974 to raise additional resources to meet the cost of 'People's Housing Programme' to be undertaken by the State Government.Hence this Bill.(Obtained from L.A. Bill No.16 of 1973)Statement of Objects and Reasons - (Amending Act 17 of 1974). - It is proposed to raise the rates of Stamp Duty on conveyance and mortgage deeds, in order to augment the revenue of the State.Hence the Bill.(Published in the Karnataka Gazette (Extraordinary) dated 30th March 1974, PART IV-2A, as No. 632, at page. 4.)Statement of Objects and Reasons - (Amending Act 12 of 1975). - It has been observed that there is wide-spread under-valuation of properties by persons who buy and sell properties in urban areas. A pilot study of 1052 cases carried out in Bangalore City showed that in nearly 70 per cent of the cases the valuation mentioned in the sale deed was less than half the market value computed objectively by the survey authorities. This means evasion of stamp duty as well as avoidance of registration charges. There is consequent loss of revenue to the State under both counts. The object of the Bill is to enable the Government to recover the right amount of stamp duty wherever under valuation of property is noticed at the time of registration of the properties. Some consequential amendments are also being made. For example, the present schedule of stamp duty rates is based upon the amount of consideration mentioned in the document. This basis is being changed to the market value. Likewise some other consequential changes have also been proposed in the Bill.To begin with the new measure will be given effect to in the Cities having a population of more than one lakh and the Government is taking the power to extend it to other urban areas in due course.(Published in Karnataka Gazette (Extraordinary), dated 10th April 1975, PART IV-2-A, as No. 1049, at page. 7.) Statement of Objects and Reasons - (Amending Act 37 of 1976).- In order to augment the revenues of the State, it is proposed to amend the Karnataka Stamp Act, 1957, by increasing the rate of Stamp Duty on conveyances and other instruments chargeable with the same duty as a conveyance.Hence this Bill.(Published in Karnataka Gazette (Extraordinary) dated 27th March 1976, PART IV-2-A, as No. 1729, at page. 6.)Statement of Objects and Reasons - (Amending Act 9 of 1979). - Houses and sites are normally allotted by the Bangalore Development Authority and other similar authorities on lease-cum-sale basis and the sale deed is executed after a lapse of a period of 10 years by which time the market value of the property gets increased considerably. The policy of the Government is to allot as many houses and sites as possible to landless and other weaker sections of the people.The levy of stamp duty on market value in respect of conveyance executed by the said authorities works out great hardship to the allottee's many of whom are persons belonging to weaker sections.It is felt that stamp duty on such instruments should be levied on the amount or the value of consideration for such instruments as specified therein. To remove the hardship that is caused by the existing provisions to the weaker sections of the people it was considered necessary to take urgent and immediate action. Hence an Ordinance was issued amending the entries relating to item 20 of the Schedule to the Karnataka Stamp Act, 1957. This Bill seeks to replace the said Ordinance.(Obtained from LC Bill No. 1 of 1979.)Statement of Objects and Reasons - (Amending Act 21 of 1979). - In order to augment the revenues of the State it is proposed to second taxation and other laws. Opportunity is taken to make some other amendments also.Hence this Bill.(Published in the Karnataka Gazette (Extraordinary) Part IV-2A dated 27-3- 1979 as No. 259).Statement of Objects and Reasons - (Amending Act 15 of 1980). - The Audit parties of the Accountant General's Office during the course of audit of several Sub-Registry Offices in the State during last one or two years have pointed out instances of non-levy/short levy/irregular remission of Stamp duty due to mis-classification of documents and misinterpretation of the provisions of law regarding ley of stamp duty. In most of the cases, the observations of the Audit were found to be valid and the Inspector General of Registration and Commissioner for Stamps had to initiate steps for recovery of the deficit stamp duty from the concerned parties. However, for want of suitable provisions in the Karnataka Stamp Act, 1957 enabling recovery of such deficit stamp duty from the concerned parties as arrears of land revenue, it has not been possible for the Department to recover it in most of the cases.As the Legislature Assembly was not in session, an ordinance was promulgated on 3rd December 1979 introducing new Section 46-A providing for recovery of deficit stamp duty as arrears of land revenue and, in certain type of cases, with retrospective effect namely from 1st April 1972. Consequential amendment to Section 11(a) was also made due to enhancement of stamp duty with effect from 27th March 1979 as per Karnataka Taxation and Certain Other Laws (Amendment) Act, 1979.The Bill seeks to replace the said ordinance.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 29th February 1980, as No. 154, at page. 5.)Statement of Objects and Reasons - (Amending Act 16 of 1981). - The allottees of sites or houses have to execute lease-cum-sale agreement with bodies like the Bangalore Development Authority, the Karnataka Housing Board, City Improvement Trust Boards and Housing Cooperative Societies etc. After the expiry of the lease period conveyances are executed in favour of the allottees. The lease-cum-sale Agreement would attract levy of stamp duty under Article 30(c) of the Schedule to the Karnataka Stamp Act, 1957 at the same rate as a conveyance on the advance paid in addition to the duty payable on the lease. Again when the conveyance is subsequently executed, duty is payable on the full value of the considerations. Thus duty becomes payable on these transactions as for a conveyance, twice. Representations have been received from the public requesting the Government to grant relief. In view of this and in order to recover the full duty at the initial stage itself when the lease-cum-sale agreement is executed, the amendments proposed are sought to be made.Hence this Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 3rd February 1981, as No. 85, at page. 4.)Statement of Objects and Reasons - (Amending Act 16 of 1983). - Section 46A of the Karnataka Stamp Act, 1957 provides for recovery of stamp duty not levied or short levied. Under the said section, the Chief Controlling Revenue Authority or an officer authorized by the State Government could initiate action with in three years from the date of commencement of the Karnataka Stamp (Amendment) Act, 1980 by which the said section was introduced. In cases where the reason for non-payment was fraud, etc., a longer period of six years was permissible.Action for recovery of deficit duty under the said section has to be taken in about 40000 to 50000 cases and further extension of the period has become necessary.In these circumstances, it is considered necessary to fix the relevant period as 5 years and 10 years instead of 3 years and 6 years respectively.An Ordinance was issued and this Bill seeks to replace the said Ordinance.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 25th March 1983, as No. 186, at page. 3.)Statement of Objects and Reasons - (Amending Act 9 of 1987). - To give effect to the proposals made in the Budget Speech, it is proposed to amend the Karnataka Stamp Act, 1957.Hence the Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A, dated 27th March 1987, as No. 243, at page. 4.)Statement of Objects and Reasons - (Amending Act 24 of 1987). - Section 7 of the Karnataka Stamp Act, 1957 does not provide for charging a copy of an instrument received in the State of Karnataka, where an instrument is registered in any part of India other than Karnataka in respect of the property situated in Karnataka. The different rates of stamp duty applicable in other States in respect of sale, gift, mortgage and such transactions have enabled the concerned parties to evade stamp duty in Karnataka by having their documents registered in Presidency towns of Bombay, Calcutta, Madras as well as Delhi District, vide the provisions of Section 30 (2) of the Indian Registration Act. This has resulted in huge loss of revenue to the Government of Karnataka.It is also considered necessary to enhance the rate of stamp duty chargeable in respect of Partnership under article 40 of the Schedule to the Karnataka Stamp Act, as it has been found that with a view to avoid higher stamp duty payable on conveyances, the registering parties are resorting to the evasion of stamp duty by entering into partnerships, with one partner contributing immovable property and the other contributing cash, and thereafter dissolving the partnership and transferring the immovable property to the partner who contributed cash in lieu of such cash, and vice-versa.Hence the Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 11th February 1987, as No. 123, at page. 4.)Statement of Objects and Reasons - (Amending Act 10 of 1988). - As at present the duty in respect of any instrument of conveyance effected by the Bangalore Development Authority, the City Improvement Trust Board. Mysore, the Karnataka Housing Board, the Improvement Boards constituted under the Karnataka Improvements Boards Act, 1976 shall be payable at the rates specified in the Schedule on the amount or value of consideration for such conveyance as set forth in the instrument.It is proposed to extend such concession to the House Building Co-operative Societies, registered under the Karnataka Co-operative Societies Act, 1959.Hence the Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 8th February 1988 as No. 82, at page. 3.)Statement of Objects and Reasons - (Amending Act 10 of 1990). - To give effect to the proposals made in the Budget speech, it is considered necessary to amend the Karnataka Stamp Act, 1957.Hence the Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 30th March 1990, as No. 154, at page. 9.)Statement of Objects and Reasons - (Amending Act 11 of 1991). - To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957.Hence the Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 22nd March 1991 as No. 131, at page 47)Statement of Objects and Reasons - (Amending Act 19 of 1994). - To give effect to the proposals made in the Budget Speech it is considered necessary to amend the Karnataka Stamp Act 1957.Hence the Bill.(Obtained from LA Bill No. 14 of 1994.)Statement of Objects and Reasons - (Amending Act 8 of 1995). - To give effect to the proposals made in the Budget Speech it is considered necessary to amend the Karnataka Stamp Act, 1957 and also to make some consequential amendments are proposed.Hence the Bill.(Obtained from LA Bill No. 2 of 1995.)Statement of Objects and Reasons - (Amending Act 20 of 1996). - Sub-clause (3)(a) of Article 20 of the Schedule to the Karnataka Stamps Act, 1957 provides that second and subsequent sale of Motor Vehicles of above 75 C.C. except Autorikshaws are chargeable with duty. In order to implement the said provision properly it is necessary to cast a duty on the registering authority not to enter such vehicles in the registration certificate unless specified stamp duty is paid by amending the said Act suitably.Hence the Bill.(Obtained from LA Bill 15 of 1995 (File No. LAW 34 LGN 95)Statement of Objects and Reasons - (Amending Act 9 of 1997). - It is considered necessary to amend the Karnataka Stamp Act, 1957 and to give effect to the proposals made in the Budget speech and matters connected therewith.Hence the Bill.(Obtained from LA Bill No. 13 of 1997.)Statement of Objects and Reasons - (Amending Act 22 of 1997). - As at present the duty in respect of transaction of lease-cum-sale in connection with allotment of building sites with or without building thereon by certain authorities like the Bangalore Development Authority, Karnataka Housing Board etc., is payable on the market value equal to the security deposit and the average annual rent reserved in such agreement and in respect of instrument of conveyance effected by the above authorities, the duty is payable on the amount or value of consideration of such conveyance as set forth in the instrument.It is proposed to extend the above concession in respect of allotment of industrial sheds and plots by the Karnataka Industrial Areas Development Board, the Karnataka Small Scale Industrial Development Corporation, the Karnataka State Industrial Investment and Development Corporation KEONICS and allotment of land or site to the market functionaries by the Agricultural Produce Marketing Committees.Hence the Bill.(Obtained from LA Bill No. 11 of 1997.)Statement of Objects and Reasons - (Amending Act 5 of 1998). - To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp At, 1957 and some consequential amendments are also proposed.Hence the Bill.(Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 26th March 1998, as No. 347, at page. 7.)Statement of Objects and Reasons - (Amending Act 6 of 1999). - To give effect to the proposal made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957 and some consequential amendments are also proposed.Hence the Bill.(Published in the Karnataka Gazette (Extraordinary) Part IV-2A dated 30th March 1999, as No. 288)Statement of Objects and Reasons - (Amending Act 24 of 1999). - It is considered necessary to amend the Karnataka Stamp Act, 1957 for more effective implementation of the provisions of this Act.It is proposed, for this purposes,-1. To define the term Assistant Commissioner to Stamps Association, Clearance List and immovable property.2. To levy duty on the copy of an original instrument where no proper duty has been paid on the original instrument by adding an explanation under section 3.3. To provide for enhancement of Stamp duty in certain cases since there has been no revision of the rate for a long time.4. To provide for payment of stamp duty in cash in certain cases.5. To provide for keeping the instrument brought for registration where the Registering Officer has reason to believe that the market value of the property has not been truly set forth in the instrument and for referring the case of the Deputy Commissioner for determination of the market value if the party, does not pay the duty on the basis of such valuation and also to provide that the Deputy Commissioner shall dispose of the cases as far as possible, within 90 days from the date of reference. This is done by proposing amendment to section 45A.6. To enhance the quantum of punishment in certain cases, by amending relevant penal section of the Act.7. To provide for punishment for making false declaration in clearance list and failure to produce documents.8. To insert a new section 53A to provide for the Chief Controlling Revenue Authority to make a revision of the order passed by the Deputy Commissioner or authorized Officer within the period of five years from the date of orders passed by them.9. To Substitute section 67B to streamline the provisions regarding power to enter premises and inspect certain documents.Certain other consequential and necessary amendments are also made.Hence the Bill.(Published in the Karnataka Gazette (Extraordinary) Part IV-2A, dated 31st March 1999, as No. 299)Statement of Objects and Reasons - (Amending Act 7 of 2000). - To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957 and the Karnataka Societies Registration Act, 1960.(Obtained from L.A. Bill No. 8 of 2000.)Statement of Objects and Reasons - (Amending Act 6 of 2001). - To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957 and the Karnataka Co-operative Societies Act, 1957.Hence the Bill.(Vide LA Bill No. 6 of 2001 File No. SAMVYASHAE 10 SHASANA 2001)Statement of Objects and Reasons - (Amending Act 6 of 2002). - To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957 and the Karnataka Societies Registration Act, 1960.Hence the Bill.(Vide LA Bill No. 11 Of 2002 and File No. SAMVYASHAE 19 SHASANA 2002)Statement of Objects and Reasons - (Amending Act 17 of 2002). - It is considered necessary to reduce or remit by notification till 31st March, 2006, the stamp duty payable on any instrument, to be specified therein executed by, specified new Tiny, Small Scale, Medium Scale or Large Scale Industrial Units or Mega Projects as defined in the new industrial policy vide Government Order CI 167 SPI 2001 dated 30.6.2001 or by such key projects of core area as defined in the said policy or specified by the State Government from time to time. Hence the Bill.(Vide LA Bill No. 23 of 2002 File No. SAMVYASHAE 4 SHASANA 2002)Statement of Objects and Reasons - (Amending Act 8 of 2003). - To give effect to the proposals made in the Budget Speech for the year 2003-04, it is considered necessary to amend the Karnataka Stamp Act, 1957, the Karnataka Municipalities Act, 1964, the Karnataka Municipal Corporations Act, 1976 and the Karnataka Panchayat Raj Act, 1993.Hence the Bill.(Vide LA Bill No. 8 of 2003 File No. SAMVYASHAE 15 SHASANA 2003)Statement of Objects and Reasons - (Amending Act 2 of 2004). - To give effect to the proposals made in the Budget Speech of 2003-04, it is considered necessary to amend the Karnataka Sales Tax Act, 1957, the Karnataka Stamp Act, 1957 and the Karnataka Motor Vehicles Taxation Act, 1957.Hence the Bill.(obtained from LA Bill No. 7 of 2004 vide File No. SAMVYASHAE 11 SHASANA 2004)Statement of Objects and Reasons - (Amending Act 7 of 2006). - To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957). Certain consequential amendments have also been proposed.Hence the Bill.[L.A. Bill No. 12 of 2006]Statement of Objects and Reasons - (Amending Act 7 of 2007). - To give effect to the proposals made in the Budget Speech of 2007-2008, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957). Certain consequential amendments have also been proposed.Hence the Bill.[L.A.Bill No. 20 of 2007][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 11 of 2007). - In order to encourage entrepreneurs for establishment of new industries, so as to achieve industrial as well as economic growth in the state and in the light of New Industrial Policy 2006-2011. It is proposed to amend the Karnataka Stamp Act, 1957 making provision to give stamp duty exemption as per the Industrial Policy issued by the Commerce & Industries Department.Hence the Bill.[L.A. Bill No. 9 of 2007][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 17 of 2007). - In G.O.NO.RD 9 BMM 2003, dated: 8.9.2005 the posts of Regional Commissioners at Bangalore, Mysore, Gulbarga and Belgaum along with supporting staff has been created.The Regional Commissioners have to be conferred with statutory powers by necessary amendments to the relevant Acts.Since the matter was urgent and the Karnataka Legislature was not in session, the Karnataka Land Revenue and Certain Other Laws (Amendment) Ordinance 2006(Karnataka Ordinance No.5 of 2006) was promulgated to achieve the above Object.Hence the Bill.[L.A. Bill No. 7 of 2007][Entry 5 and 18 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 1 of 2008). - In order to give effect to the proposals made in the Budget Speech for the year 2003-2004, it is considered necessary to amend the Karnataka Stamp Act, 1957, to dispense with the use of stamps and stamp papers and to start using impressed stamps. The Karnataka Stamp (Amendment) Bill, 2003 was passed in the both the Houses of the Legislature for obtaining the assent of the President on 29.3.2003. The Government of India vide their letter 17/20/2003-Judl & PP, dated:18.10.2004 has communicated the notes of the Ministry of Law and Justice (Department of Legal Affairs) for clarification.The Government of Karnataka considered the observations of the Ministry of Finance, Government of India (Banking Division) communicated vide Government of India letter dated: 11.7.2003 and the points raised by the Ministry of Law and Justice (Department of Legal Affairs) and has decided to drop the proposed amendment to section 19 of the Karnataka Stamp Act, 1957.Hence the Bill.(L.A. Bill No. 8 of 2007)[Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 8 of 2008). - To give effect to the proposals made in the Budget Speech of 2008-2009, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957). Certain consequential amendments have also been proposed.Hence the Bill.(LA Bill No. 6 of 2008, File No. DPAL 12 Shasana 2008)[Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 9 of 2009). - To give effect to the proposals made in the Budget Speech 2009-10, it is considered necessary to amend the Karnataka Stamp Act, 1959 (Karnataka Act No.34 of 1957). Certain consequential amendments have also been proposed.Hence the Bill(LA Bill No. 24 of 2009, File No. DPAL 17 Shasana 2009)[Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 20 of 2009). - In the Budget Speech for the year 2009-2010 it has been announced to reduce the Stamp duty on sale transactions of all kinds of immovable properties including agricultural land from seven and half percent to six percent.Therefore it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957)As the matter was urgent and both the Houses of the Karnataka State Legislature were not in session, the Governor of Karnataka had promulgated the Karnataka Stamp (Amendment)Ordinance, 2009 (Karnataka Ordinance No.5 of 2009)This bill seeks to replace the said ordinance.Hence the bill(LA Bill No. 37 of 2009, File No. DPAL 28 Shasana 2009)[Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 8 of 2010). - To give effect to the proposals made in the Budget Speech 2010-11, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957). Certain consequential amendments have also been proposed.Hence the bill.[L.A. Bill No. 13 of 2010, File No.DPAL 15 Shasana 2010][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 9 of 2010). - In order to encourage entrepreneurs for establishment of new industries in the State to combat financial crisis prevailing globally and in the hight of the new Industrial Policy 2009-14, it is proposed to amend the Karnataka Stamp Act, 1957, to reduce or remit stamp duty in public interest payable on any instrument executed by key projects of core area in the special economic zones.Hence the Bill.[L.A. Bill No. 01 of 2010, File No. DPAL 34 Shasana 2009][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 16 of 2011). - To give effect to the proposals made in the Budget Speech 2011-12 it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No.34 of 1957).Hence the Bill.[L.A. Bill No.21 of 2011, File No.Samvyashae 18 Shasana 2011][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 2 of 2012). - It is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957) to give effect to the proposals made in the Budget Speech 2010-11, and to give an impetus to growth in Agriculture, Information Technology, Bio-Technology, Science and Technology.Hence, the Bill.[L.A. Bill No. 45 of 2011, File No.Samvyashae 48 Shasana 2011][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 15 of 2012). - To give effect to the proposals made in the Budget Speech of 2012-13, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957). Certain consequential amendments have also been proposed.Hence the Bill.[L.A. Bill No. 10 of 2012, File No.Samvyashae 23 Shasana 2012][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 29 of 2013). - In order to promote the growth of housing activities through documents of Joint Development Agreement and its consequent power of attorney it is considered necessary to reduce the stamp duty payable on one document to two hundred rupees only, if the other document is duly stamped in accordance with law, by amending the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957).Hence the Bill.[L.A. Bill No. 15 of 2013, File No. Samvyashae 29 Shasana 2013][Entry 44 of List III of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 19 of 2014). - To give effect to the proposals announced in the Budget speech for the year 2014-15, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957), to provide for the following:-(1) to avoid double taxation by way of stamp duty levy, it is proposed to exempt the stamp duty on instrument of sale, executed by or between the Bangalore Development Authority and the concerned person, in connection with the allotment of alternate equivalent site to the allottee, consequent to de-notification of the land in question and pursuant to the cancellation of the preceding sale deed which is duly stamped.(2) to promote growth in the Aerospace industry, it is proposed to reduce or remit the stamp duty on instruments, executed by or between the concerned persons, in connection with the Karnataka Aerospace Policy 2013-23.(3) to give relief/remedy to the instruments exempted from the stamp duty, as specified in the Notification No.RD 144 MuNoMu 2003 dated:23-04-2003. It is proposed to validate the same.(4) to generate more revenue in the form of stamp duty, by way of better tax compliance, it is proposed to rationalize the stamp duty on Joint Development Agreement and its consequent power of attorney for joint development, by way of reducing the stamp duty from the current 5% to 2%.(5) to rationalize Stamp Duty on Award relating to movable property, it is proposed to reduce the stamp duty on such award from the current 5% to the rates, ranging from minimum ¼ (0.25) percent to maximum ¾ (0.75) percent, as per the recommendation of the Law Commission of Karnataka (twentieth report).(6) To promote the growth of trade/industry relating to the goods being imported in the State of Karnataka, it is proposed to reduce stamp duty on "Delivery order in respect of the goods": from the current 0.5% to 0.1% and to exempt stamp duty on such goods which are exempted from the levy of customs duty by the Government of India. This measure will also generate more revenue in the form of stamp duty by way of better tax compliance.Hence the Bill.[L.A. Bill No.36 of 2014, File No. Samvyashae 16 Shasana 2014][Entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 03 of 2015). - It is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957) to reduce or remit stamp duty in public interest payable on any instrument executed by key projects of core area in special economic zone made in the New Karnataka Industrial Policy 2014-2019 announced by the State Government and to give impetus to growth in the industry.Hence, the Bill.[L.A. Bill No. 67 of 2014, File No. Samvyashae 51 Shasana 2014][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 16 of 2015). - To give effect to the proposal made in the Budget speech of 2015-16 It is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957),Hence the Bill.[L.A. Bill No. 09 of 2015, File No. Samvyashae 17 Shasana 2015][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 07 of 2016). - To give effect to the proposal made in the Budget Speech of 2016-17, it is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) and to make consequential amendments.Hence the Bill,[L.A. Bill No.16 of 2016 File No. Samvyashae 21 Shasana 2016][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 09 of 2016). - It is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No 34 of 1957) to give effect to proposal made in the Karnataka Tourism Policy 2015-2020, and to give impetus to the growth in the Tourism Industry.Hence the Bill,[L.A. Bill No.05 of 2016 File No. Samvyashae 38 Shasana 2015][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 10 of 2016). - It is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act No 34 of 1957) The State Government may in public interest, by notification to give effect to proposal mad in the new Investment Incentive policy (IT, ITES, Innovation Incentive Policy) for the IT/ITes/Start- ups/Animation/Gaming/Computer Graphics/Telecom/MPO/KPO/Other Knowledge base Industries, Specified in the Government Order No: IUTD 10 PRM 2013 dated 16th January 2014.Hence the Bill,[L.A. Bill No.14 of 2016 File No. Samvyashae 51 Shasana 2015][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 21 of 2016). - Mines and Mineral (Development and Regulation) Act, 1957 (Central Act 67 of 1957) Act defines a "mining lease" as a lease granted for the purpose of undertaking mining operations, and further defines "mining operations" as any operations undertaken for the purpose of winning any mineral. Mining lease is essentially an instrument designed for regulation of mining operations and mining rights. It does not fully conform to all the characteristics of a lease of immovable property. The Possibility of privately owned and being part of the mining lease area is also very clearly contemplated under the Mines and Mineral (Development and Regulation) Act, 1957 as well as the Karnataka Minor Minerals Concession Rules, 1994. Therefore, there is a need to classify mining leases as a separate class of documents for the purpose of stamp duty, distinct from lease of immovable property. Separate provisions are also provided for lease granted by auction and granted by way other than auction.Hon'ble Supreme Court in its order dated: 30.07.2015 has directed the State Government to conduct the auction of 15 'C' Category mines within outer limit of 32 weeks, preferably 26 weeks from the date of order in accordance with the amendments of Mines and Minerals (Development and Regulation) Act, 1957 and the Mineral (Auction) Rules, 2015 along with additional conditions.The time line fixed by the Hon'ble Supreme Court has already expired in March, 2016 and in this connection an Interlocutory Application has been filed before the Hon'ble Supreme Court for extending time for auction of mines. The Hon'ble Supreme Court has not yet decided on Interlocutory Application filed by the Commerce and Industries Department. The Commissioner, Department of Mines and Geology has already extended the calendar of events four times. Making this legislation is very essential for the Commissioner, Department of Mines and Geology to give clarification to the bidders with respect to stamp duty and registration fee on the Mining Lease Development and Production Agreement (MDPA) and mining Lease Deed. The last date for giving clarification to the bidders is 22.06.2016. proposed legislation needs to be passed before this date. If the matter is further delayed then the Hon'ble Supreme Court may take it seriously and it will create a very difficult position for the State Government to explain the delay in the matter.A new instrument called the Mine Development and Production Agreement has been introduced by the Minerals (Auction) Rules, 2015 and the Minerals (Other than Atomic and Hydrocarbons Energy) Minerals Rule 2016, and they also need to be specified for the purpose of stamp duty.As the matter was urgent and the Karnataka Legislative Assembly was not in session, the Karnataka Stamp (Amendment) ordinance, 2016 (Karnataka ordinance 2 of 2016) was promulgated on 22.06.2016. This bill seeks to replace the said ordinance.Hence the Bill.[L.A. Bill No.21 of 2016 File No. Samvyashae 28 Shasana 2016][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 17 of 2017). - To give effect to the proposal made in the Budget speech of 2017-18. It is considered necessary to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), and to make consequential amendments.Hence the Bill.[L.A. Bill No.17 of 2017 File No. Samvyashae19 Shasana 2017][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Statement of Objects and Reasons - (Amending Act 32 of 2017). - It is consider necessary further to amend the Karnataka Stamp Act, 1957 (Karnataka Act No. 34 of 1957) to give effect to,-(i) the proposals made in the Agribusiness and Food Processing Policy, 2015; and(ii) give impetus to the growth in the Agribusiness and Food Processing Industrial Enterprises.Hence the Bill[L.A. Bill No.31 of 2017, File No. Samvyashae 37 Shasana 2017][entry 63 of List II of the Seventh Schedule to the Constitution of India.]Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973(First published in the [Karnataka Gazette] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] on the Fifth day of December, 1957.)(Received the assent of the President on the Twenty-eighth day of November, 1957.)An Act to consolidate and amend the laws relating to Stamps.Whereas it is expedient to consolidate and amend the laws relating to stamps in the [State of Karnataka ;] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973]Be it enacted by the [Karnataka State] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] Legislature in the Eighth year of the Republic of India as follows:-

Chapter I
Preliminary

1. Short title, extent and commencement.

(1)This Act may be called the [Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] Stamp Act, 1957.

(2)It extends to the whole of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973].

(3)It shall come into force on such [date] [Act came into force on 1.6.1958 by notification. Text of notification is at the end of the Act] as the State Government may, by notification in the Official Gazette appoint.

2. Definitions.

(1)In this Act, unless the context otherwise requires,-

(a)[ 'Assistant Commissioner of Stamps' means the Inspector of Registration Offices appointed under the Registration Act, 1908 (Central Act 16 of 1908) and includes such officer in such areas as the State Government may by notification specify. [Clauses (a) and (aa) Inserted by Act 24 of 1999 w.e.f. 18.8.1999]

(aa)"Association" means any association, exchange, organization or body of individuals, whether incorporated or not, established for the purpose of regulating and controlling or conducting business of the sale or purchase of or other transaction relating to, any goods or marketable securities.]

(i)any instrument whereby a person obliges himself to pay money to another, on condition that the obligation shall be void if a specified act is performed or is not performed, as the case may be;

(ii)any instrument attested by a witness and not payable to order or bearer, whereby a person obliges himself to pay money to another; and

(iii)any instrument so attested, whereby a person obliges himself to deliver grain or other agricultural produce to another;

(ac)[ "Central Valuation Committee" means the Central Valuation Committee constituted under section 45B] [Inserted by Act 8 of 2003 w.e.f. 1.4. 2003].

(ab)[] [Relettered by Act 24 of 1999 w.e.f. 18.8.1999] "bond" includes,-

(b)"chargeable" means, as applied to an instrument executed or first executed after the commencement of this Act, chargeable under this Act, and as applied to any other instrument chargeable under the law in force in the territories of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] when such instrument was executed or, where several persons executed the instrument at different times, first executed;

(c)[ 'Chief Controlling Revenue Authority' means the officer appointed by the State Government to be the [Commissioner of Stamps for Karnataka] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]];

(ca)[ "clearance list" means a list of transactions relating to contracts either maintained by an association or an individual or required to be submitted to the Clearing House of an association in accordance with the rules or bye-laws of the association and shall always mean to include all the transactions pertaining to sale as well as purchase of marketable securities] [Inserted by act 24 of 1999 w.e.f. 18.8.1999];

(d)[ "conveyance" includes,- [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]

(i)a conveyance on sale,

(ii)every instrument,

(iii)every decree or final order of any civil court,

(iv)every order made by the High Court under section 394 of the Companies Act, 1956 in respect of amalgamation of Companies

by which property, whether movable, or immovable or any estate is transferred to, or vested in, any other person, and which is not otherwise specifically provided for by the Schedule;]

(dd)[ 'Deputy Commissioner' means the Chief Officer in charge of the revenue administration of a district and includes in respect of such provisions of this Act or rules made thereunder such officer in such area as the State Government may by notification in the Official Gazette specify;] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]

(e)[ "Duly stamped " as applied to an instrument means that the instrument bears impressed stamp of not less than the proper amount and that such stamp has been impressed in accordance with law for the time being in force in the territories of the State of Karnataka.] [Substituted by Act 1 of 2008 w.e.f. 1.4.2003]

(f)"executed," and "execution," used with reference to instruments, mean "signed" and "signature";

(g)"Government security" means a Government security as defined in the Public Debt Act, 1944 (Central Act XVIII of 1944);

(ga)[ "Immovable property" includes land, buildings, rights to ways, air rights, development rights, whether transferable or not, benefits to arise out of land, and things attached to the earth, or permanently fastened to anything attached to the earth;] [Inserted by act 24 of 1999 w.e.f. 18.8.1999]

(h)[ "Impressed stamp" means; [Substituted by Act 1 of 2008 w.e.f. 1.4.2003]

(i)impression made with franking machine;

(ii)a certificate or endorsement made and attested as may be prescribed by the Deputy Commissioner or the authorized officer or the proper officer, as the case may be in the territories of the State of Karnataka.]

(i)"India" means the territory of India excluding the State of Jammu and Kashmir;

(j)"instrument" includes every document [and record created or maintained in or by an electronic storage and retrieval device or media] [Inserted by act 24 of 1999 w.e.f. 18.8.1999] by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded;

(k)[ 'instrument of partition' means any instrument whereby co-owners of any property divide or agree to divide such property in severalty and includes,- [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]

(i)a final order for effecting a partition passed by any revenue authority or any civil court,

(ii)an award by an arbitrator directing a partition, and

(iii)when any partition is effected without executing any such instrument, any instrument or instruments signed by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners;]

(l)"lease" means a lease of [immovable or movable property or both] [Substituted by Act 9 of 1997 w.e.f. 1.4.1997], and includes also,-

(i)a patta;

(ii)a kabuliyat or other undertaking in writing not being a counterpart or a lease to cultivate, occupy, or pay or deliver rent for, immovable property;

(iii)any instrument by which tolls of any description are let;

(iv)any writing on an application for a lease intended to signify that the application is granted;

(m)"marketable security" means a security of such a description as to be capable of being sold in any stock market in India;

(mm)[ "market value" in relation to any property, which is the subject matter of an instrument, means the price which such property would have fetched, in the opinion of the Deputy Commissioner or the Appellate Authority or the Chief Controlling Revenue Authority if sold in open market on the date of execution of such instrument or the consideration stated in the instrument whichever is higher: [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]

Provided that notwithstanding anything contained in this Act or in the Articles, in respect of an instrument executed by or on behalf of or in favour of the State Government or the Central Government or a Local Authority or other Authority constituted by or under any law for the time being in force or a Body incorporate wholly owned or controlled by the Central Government or the State Government, the market value of the property shall be the value of consideration for such conveyance as set forth in the instrument.]

(n)"mortgage deed" includes every instrument whereby, for the purpose of securing money advanced, or to be advanced, by way of loan, or an existing or future debt, or the performance of an engagement, one person transfers, or creates, to or in favour of, another, a right over or in respect of specified property;

(o)"paper" includes vellum, parchment or any other material on which an instrument may be written;

(p)"power-of-attorney" includes any instrument (not chargeable with a fee under the law relating to court fees for the time being in force) empowering a specified person to act for and in the name of the person executing it;

(q)"settlement" means any non-testamentary disposition in writing, of movable or immovable property made,-

(i)in consideration of marriage,

(ii)for the purpose of distributing property of the settler among his family or those for whom he desires to provide, or for the purpose of providing for some person dependent on him, or

(iii)for any religious or charitable purposes; and includes an agreement in writing to make such a disposition, and where any such disposition has not been made in writing, any instrument recording whether by way of declaration, of trust or otherwise, the terms of any such disposition.

(2)The [Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] General Clauses Act, 1899 shall apply for the interpretation of this Act, as it applies for the interpretation of a [Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] Act.

(r)[ "Stamp" means impressed stamp and "stamp paper " means a paper bearing the impressed stamp.] [Inserted by Act 1 of 2008 w.e.f. 1.4.2003]

Chapter II
Stamp Duties

A.-Of the Liability of Instruments to Duty.

3. Instruments chargeable with duty.

- Subject to the provisions of this Act and the exemptions contained in the Schedule, the following instruments shall be chargeable with duty of the amount indicated in that Schedule as the proper duty therefor, respectively, that is to say,-(a)every instrument mentioned in that Schedule which, not having been previously executed by any person, is executed in the territories of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] on or after the commencement of this Act; and(b)every instrument mentioned in that Schedule which, not having been previously executed by any person, is executed out of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] on or after that day, relates to any property situate, or to any matter or thing done or to be done, in the territories of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] and is received in the territories of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973]:Provided that no duty shall be chargeable in respect of,-

(1)any instrument, executed by, or on behalf of, or in favour of, the [State Government] [Substituted by Act 17 of 1966 w.e.f. 15.11.1966 by notification text of notification at the end of the Act] in cases where, but for this exemption, the [State Government] [Substituted by Act 17 of 1966 w.e.f. 15.11.1966 by notification text of notification at the end of the Act] would be liable to pay the duty chargeable in respect of such instrument;[Explanation. [Inserted by Act 24 of 1999 w.e.f. 18.8.1999] - Where no proper duty has been paid on the original of an instrument which is chargeable with an amount indicated in the Schedule as proper duty therefor, then a copy of such instrument whether certified or not and whether a facsimile image or otherwise of the original shall be chargeable with duty of an amount which is indicated in Schedule as proper duty for the original of such instrument, and all the provisions of this chapter and chapters IV, VI, VII and VIII of this Act shall mutatis mutandis be applicable to such copy of the original.]

(2)any instrument for sale, transfer or other disposition, either absolutely or by way of mortgage or otherwise, of any ship or vessel, or any part, interest, share or property of or in any ship or vessel registered under [the Merchant Shipping Act, 1958] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962].

3A. [ Instruments liable to duty in multiples of five naye paise. [Inserted by Act 29 of 1962 w.e.f. 1.10.1962]

- Notwithstanding anything contained in section 3 and the Schedule or any rule or order published under section 9, the proper duty payable on any instrument shall be computed and determined in multiples of five naye paise:Provided that where a scale has been specified for determining the proper duty, the total amount of duty payable on any instrument shall be calculated in accordance with such scale, and where the total amount so calculated includes in addition to any multiple of five naye paise a fraction of five naye paise, such fraction shall be deemed to be five naye paise, and the total amount of duty payable on the instrument shall be determined accordingly.]

3B. [ Certain instruments chargeable with additional duty. [Substituted by Act 6 of 2001 w.e.f. 1.4.1998]

- [(1) Any instrument of conveyance, exchange, settlement, gift or lease in perpetuity of immovable property chargeable with duty under section 3 read with articles of the schedule shall be chargeable with additional duty at the rate of ten percent, on such duty chargeable on such instrument of conveyance, exchange, gift, settlement and lease in perpetuity, for the purpose of various infrastructure projects across the State, equity investment in the Bangalore Mass Rapid Transport Limited and for Mukhya Manthri Grameena Rasthe Abhivrudhi Nidhi in the proportion of 57:28:15 respectively]

(2)The additional duty chargeable under sub-section (1) shall be in addition to any duty chargeable under section 3.

(3)Except as otherwise provided in sub-section (1) provisions of this Act, shall so far as may be apply in relation to the additional duty chargeable under subsection (1) as they apply in relation to the duty chargeable under section 3]

3C. [ Limit on levy of additional stamp duty. [Inserted by Act 6 of 1999 w.e.f. 1.4.1999] - Notwithstanding anything contained in any other law for the time being in force, no instrument shall be charged with any duty in the form of additional stamp duty under such other law, exceeding the maximum amount of duty with which such instrument is chargeable under this Act.]

4. Several instruments used in single transaction of sale, mortgage or settlement.

(1)Where, in the case of any sale, mortgage or settlement, several instruments are employed for completing the transaction, the principal instrument only shall be chargeable with the duty prescribed in the Schedule for the conveyance, mortgage, or settlement, and each of the other instruments shall be chargeable with a duty of [one hundred] [Substituted by Act 8 of 1995 w.e.f. 1.4.1995] rupees instead of the duty (if any) prescribed for it in the Schedule.

(2)The parties may determine for themselves which of the instruments so employed shall, for the purpose of sub-section (1), be deemed to be the principal instrument:Provided that the duty chargeable on the instrument so determined shall be the highest duty which would be chargeable in respect of any of the said instruments employed.

5. Instruments relating to several distinct matters.

- Any instrument comprising or relating to several distinct matters shall be chargeable with the aggregate amount of the duties with which separate instruments, each comprising or relating to one of such matters, would be chargeable under this Act.

6. Instruments coming within several descriptions in Schedule.

- Subject to the provisions of the last preceding section, an instrument so framed as to come within two or more of the descriptions in the Schedule shall, where the duties chargeable thereunder are different, be chargeable only with the highest of such duties:Provided that nothing contained in this Act shall render chargeable with duty exceeding [four rupees and fifty naye paise] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] a counter part or duplicate of any instrument chargeable with duty and in respect of which the proper duty has been paid.

7. Payment of higher duty in respect of certain instruments.

(1)Notwithstanding anything contained in section 4 or 6 or in any other enactment, unless it is proved that the duty chargeable under this Act has been paid,-

(a)on the principal or original instrument, as the case may be, or

(b)in accordance with the provisions of this section, the duty chargeable on an instrument of sale, mortgage or settlement, other than a principal instrument or on a counterpart, duplicate or copy of any instrument shall, if the principal or original instrument would, when received in the State, have been chargeable under this Act with a higher rate of duty, be the duty with which the principal or original instrument would have been chargeable under section 19.

(2)Notwithstanding anything contained in any enactment for the time being in force, no instrument, counterpart, duplicate or copy chargeable with duty under this section shall be received in evidence unless the duty chargeable under this section has been paid thereon:Provided that any Court before which any such instrument, duplicate or copy is produced may permit the duty chargeable under this section to be paid thereon and may then receive it in evidence.

(3)[ Where any instrument is registered in any part of India other than Karnataka and the instrument relates wholly or partly to any property situated in Karnataka, the copy of such instrument shall, when received in Karnataka be liable to be charged with the difference of stamp duty as original under section 19 to the extent of and in proportion to the consideration or value of the property situated in Karnataka and the party liable to pay stamp duty on the original instrument shall upon receipt of notice from the registering officer pay the difference in duty within the time allowed.] [Inserted by Act 24 of 1987 w.e.f. 12.6.1987]

8. Bonds or other securities issued on loans.

(1)Notwithstanding anything contained in this Act, any local authority raising a loan under the provisions of any law for the time being in force, by the issue of bonds or other securities, shall, in respect of such loan, be chargeable with a duty of one percentum on the total amount of the bonds or other securities issued by it, and such bonds or other securities need not be stamped and shall not be chargeable with any further duty on renewal, consolidation, sub-division or otherwise.

(2)The provisions of sub-section (1) exempting certain bonds or other securities from being stamped and from being chargeable with certain further duty shall apply to the bonds or other securities of all outstanding loans of the kind mentioned therein and all such bonds or other securities shall be valid, whether the same are stamped or not.

(3)In the case of wilful neglect to pay the duty required by this section, the local authority shall be liable to forfeit to the Government a sum equal to ten percentum upon the amount of duty payable, and a like penalty for every month after the first month during which the neglect continues.

9. Power to reduce, remit or compound duties.

(1)The State Government may, by rule or order published in the Official Gazette,-

(a)[reduce upto fifty percent] [Substituted by Act 5 of 1998 w.e.f. 1.4.1998] in the whole or any part of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973], if in the opinion of the State Government it is necessary in public interest so to do, the duties with which any particular class of instruments, or any of the instruments belonging to such class, or any instruments when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable; and

[Provided that the State Government may in public interest reduce or remit the stamp duty payable on an instrument executed,-

(i)by or in favour of any person to obtain or to repay loan, as the case may be, for an agricultural purpose as defined in the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974 (Karnataka Act 2 of 1975),

(ii)by a public sector undertaking, to obtain loan for the purpose for which it is established,

(iii)by or in favour of loanee to obtain or repay loan, as the case may be for the purposes of pursuing education, acquiring and installing water harvesting units and non-conventional energy devices such as solar and biogas energies, ]

(iv)[ by or in favour of loanee to obtain loans for non-agricultural purposes advanced to 'Joint Liability Groups' by Schedule Banks and other Financial Institutions specified in this behalf; [Inserted by Act 16 of 2011 w.e.f. 1.4.2011]

(v)by or in favour of farmers for the allotment of developed lands to the farmers, when their lands are acquired for public purposes;

(vi)by or in favour of farmers for the purchase of lands from the compensation amount paid to them when their lands are acquired for public purposes.]

[Provided further that the State Government may, in public interest, by notification, reduce or remit the stamp duty payable on any instrument to be specified therein, executed by or between Special Economic Zone Developer, Co- Developer, Land Owners, Karnataka Industrial Areas Development Board and Financial Institutions as defined in the State policy for Special Economic Zones - 2009, vide Government Order No. CI 114 SPI 2007, Bangalore, dated: 28-02-2009.Provided also that the State Government may, in public interest, by notification, reduce or remit, till 31st March 2014, the stamp duty payable on any instrument to be specified therein executed by specified new and existing micro, small, medium enterprises, Large Scale Industrial Units and mega projects including expansion or modernization or diversification projects, as defined in the Karnataka Industrial Policy 2009-14 specified in the Government Order No. CI 233 SPI 2008, Dated: 28-02-2009 or by such key projects of core area as defined in the said policy or specified by State Government from time to time] [Substituted by Act 9 of 2010 w.e.f 03.04.2010][Provided also that the State Government may in public interest, by notification, reduce or remit the stamp duty payable on any instrument to be specified therein, executed by or between the concerned persons in connection with 2009-14 tourism policy of the State specified in Government Order No. Ka Sam Va Pra 231 Pra Va Yo 2007 dated: 20th October 2009 or specified by the State Government from time to time.] [Inserted by Act 16 of 2011 w.e.f. 1.4.2011][Provided also that the State Government may in public interest, reduce or remit by notification the stamp duty payable on any instrument to be specified therein, executed by or between the concerned persons in connection with,-

(a)the integrated Karnataka Agri-Business Development policy 2011, specified in the Government order No. AHD 172 AFT 2010, Bangalore, dated 5th March 2011 or as specified by the State Government from time to time;

(b)the Semiconductor policy of Karnataka State- 2010, specified in the Government Order No. ITD 10 PRM 2008, Bangalore, Dated 25th February 2010 or as specified by the State Government from time to time;

(c)The information and communications technology policy- 2011, specified in the Government Order No. ITD 11 PRM 2008, Bangalore, Dated 2nd February 2010 or as specified by the State Government from time to time;

(d)The Karnataka Electronics Hardware Policy - 2011, specified in the Government Order No. ITD 09 PRM 2008, Bangalore, Dated 29th January 2011 or as specified by the State Government from time to time.]

[Provided also that the state government may in public interest reduce or remit by notification, the stamp duty payable on any instrument to be specified therein, executed,-

(i)by or in favour of Rajiv Gandhi Housing Corporation in connection with implementation of housing programme including houses built under Indira Awaas Yojana, for the economically weaker sections and special occupational categories both in rural and urban areas for the purpose of providing residential facilities with capital investment by the state government and loan borrowed from Housing And Urban Development Corporation,

(ii)in favour of local bodies, urban development authorities and other public authorities to be specified therein, for the purposes of providing roads, civic amenities, parks, water bodies, mini-forests, boulevards, etc. which are exclusively meant for public purpose.]

[Provided also that, the State Government may, in public interest, by notification, reduce or remit stamp duty on an instrument, to be specified therein from time to time, executed,-

(a)by or between the Bangalore Development Authority and the concerned allottee, in connection with the allotment of alternate equivalent site, consequent to de-notification of the land in question and pursuant to the cancellation of the preceding sale deed which is duly stamped; and

(b)by or between the concerned persons, in connection with the Karnataka Aerospace Policy 2013-23, specified in the Government Order No.CI 17 SPI 2012, dated:06-02-2013 or specified by the State Government from time to time.]

[Provided also that, the State Government may, in public interest by notification reduce or remit stamp duty payable on instruments specified in notification No.RD 144 MuNoMu 2003 dated:23-04-2003. ] [Inserted by Act 19 of 2014 w.e.f 01.03.2014][Provided also that the State Government may, in public interest, by notification till 25.03.2020 reduce or remit to the extent specified in the Tourism Policy 2015-2020 the stamp duty payable on any instrument executed by or in favour of the "eligible entities" as defined in connection with the Karnataka Tourism Policy, 2015-2020 specified in the Government Order No.TD 81 TTT 2014, dated 26.03.2015 or specified by the State Government from time to time] [Inserted by Act 9 of 2016 w.e.f. 01.04.2016][Provided also that the State Government may, in public interest, by notification, reduce or remit, till 30th September 2019 the stamp duty payable on any instrument to be specified therein executed by specified new and existing micro, small, medium enterprise (MSME), Large, Mega, Ultra Mega, Super Mega enterprises including expansion, modernization and diversification projects as defined in the Karnataka Industrial Policy 2014-2019 specified in the Government order CI 58 SPI 2013 dated: 01.10.2014 or by any such key projects of core area as defined in the said policy or specified by the State Government from time to time] [Inserted by Act 3 of 2015 w.e.f 01.10.2014][Provided also that, the State Government may, in public interest, by notification, remit the stamp duty payable on instruments executed by or in favour of the Government of Karnataka, the Government Institutions, Public Sector Undertakings, farmers or other persons as specified in Notification No. RD 71 MuNoMu 2014, dated 10-02-2016, in the following circumstances, namely:-

(i)when the farmer's land is acquired and in lieu of compensation amount, when developed land is given as compensation;

(ii)when the farmer's land is acquired and from the compensation amount if the farmer purchases agricultural or non-agricultural land; and

(iii)when the farmer's or other's land is acquired and from the compensation amount, if the farmer or other person purchases agricultural or nonagricultural land;

for the purpose of the above exemption a certificate to that effect issued by the Deputy Commissioner or the concerned Authority has to be furnished containing the details of the land acquired and the details of the compensation given.] [Inserted by Act 7 of 2016 w.e.f 01.04.2016][Provided also that the State Government may, in public interest, by notification, reduce or remit, for a period of five years with effect from 16th January 2014, the stamp duty payable on any instrument executed by or between the concerned persons, in connection with the new Investment Incentive Policy (i.e. policy: IT, ITes, Innovation Incentives Policy) for the IT/ITes/Start-ups/ Animation /Gaming / Computer Graphics /Telecom/ BPO/KPO/other knowledge based industries, specified by general or special order of the State Government from time to time subject to production of a certificate to that effect from the prescribed Authority] [Inserted by Act 10 of 2016 w.e.f. 01.04.2016]

(b)provide for the composition or consolidation of duties in the case of issues by any incorporated company or other body corporate of bonds [or other marketable securities, brokers' notes, policies of insurance and receipts.] [Inserted by Act 16 of 2011 w.e.f. 1.4.2011]

[Provided also that the State Government may in public interest, by notification, with effect from 21st January, 2016, reduce or remit during the policy period, stamp duty payable on the instruments to be specified therein, executed by or in favour of the eligible industrial enterprises, in connection with the Karnataka Agribusiness and Food Processing Policy 2015, specified in the Government Order No.AGD 94 AMS 2015, dated: 11.12.2015, published in the Karnataka Gazette, dated: 21st January, 2016 or any other modifications specified by the State Government from time to time subject to production of a certificate to that effect from the Prescribed Authority.] [Inserted by Act 32 of 2017 w.e.f. 03.07.2017]

(1A)[ Notwithstanding anything contained in any other law for the time being in force, no reduction or remission of stamp duty shall be allowed unless it is notified in accordance with sub-section (1).] [Inserted by Act 5 of 1998 w.e.f 01.04.1998]

(2)[ Every rule or order published under clause (a) of sub-section (1) shall be laid as soon as may be after it is published before each House of the State Legislature while it is in session for a total period of thirty days which may be comprised in one session or in two successive sessions, and if before the expiry of the session in which it is so laid or the session immediately following both Houses agree in making any modification in the rule or order or both Houses agree that the rule or order should not be made, the rule or order shall thereafter have effect only in such modified form or be of no effect, as the case may be; so however that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule or order.] [Inserted by Act 19 of 2014 w.e.f 01.03.2014]B.-of Stamps and the mode of using them.

10. Duties how to be paid.

(1)Except as otherwise expressly provided in this Act, all duties with which any instruments are chargeable shall be paid, and such payment shall be indicated on such instruments, by means of stamps,-

(a)according to the provision herein contained; or

(b)when no such provision is applicable thereto, as the Government may by rule direct.

(2)The rules made under sub-section (1) may, among other matters, regulate,-

(a)in the case of each kind of instrument-the description of stamps which may be used;

(b)[ in case of an instrument affixed or endorsed with certificate of stamp the manner of recording such certificate.] [Substituted by Act 1 of 2008 w.e.f. 1.4.2003]

(3)[ Subject to the rules made under clause (b) of sub-section (1), the Chief Controlling Revenue Authority or any other officer empowered by the State Government in this behalf may authorize any person, body or organization, including Post Offices and Banks, to use machine for making impression of stamps [or implement Computerized Stamp duty administration system or Electronic Stamping or De-materialization of stamping; for indicating the payment of stamp duty on any Instrument or plain paper, as the case may be] [Inserted by Act 6 of 1999 w.e.f. 1.4.1999]] [Substituted by Act 8 of 2010 w.e.f. 1.4.2010]

10A. [ Payment of stamp duty by cash in certain cases. [Inserted Act 24 of 1999 w.e.f. 18.8.1999]

(1)Notwithstanding anything contained in section 10, the stamp duty payable on an instrument may also be paid in cash by challan in the Banking Treasury or Treasury, counter signed by an officer empowered by the State Government by notification in this behalf or by demand draft or by pay order drawn on a branch of any scheduled bank. The officer so empowered shall, on production of such challan and after due verification that the duty has been paid, or upon production of demand draft or pay order as the case may be, certify in such manner as may be prescribed by endorsement on the instrument, of the amount of the duty so paid.

(2)An endorsement made on any instrument under sub-section (1) shall have the same effect as if the duty of an amount equal to the amount stated in the endorsement has been paid in respect thereof and such payment has been indicated on such instrument by means of stamps, in accordance with requirements of section 10.

(3)Nothing in this section shall apply to,-

(i)the payment of stamp duty chargeable on the instruments specified in entry 91 of List I of the Seventh Schedule to the Constitution of India; and

(ii)the instruments presented after two months from the date of their execution or first execution.]

11.

[X X X] [Omitted by Act 1 of 2008 w.e.f. 1.4.2003]

12.

[X X X] [Omitted by Act 1 of 2008 w.e.f. 1.4.2003]

13. Instruments stamped with impressed stamps how to be written.

- Every instrument written upon paper stamped with an impressed stamp shall be written in such manner that the stamp may appear on the face of the instrument and cannot be used for or applied to any other instrument.

14. Only one instrument to be on same stamp.

- No second instrument chargeable with duty shall be written upon a piece of stamped paper upon which an instrument chargeable with duty has already been written:Provided that nothing in this section shall prevent any endorsement which is duly stamped or is not chargeable with duty being made upon any instrument for the purpose of transferring any right created or evidenced thereby, or of acknowledging the receipt of any money or goods the payment or delivery of which is secured thereby.

15. Instruments written contrary to section 13 or 14 deemed unstamped.

- Every instrument written in contravention of section 13 or section 14 shall be deemed to be unstamped.

16. Denoting duty.

- Where the duty with which an instrument is chargeable, or its exemption from duty, depends in any manner upon the duty actually paid in respect of another instrument, the payment of such last mentioned duty shall, if application is made in writing to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] for that purpose, and on production of both the instruments, be denoted upon such first mentioned instrument, by endorsement under the hand of the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] or in such other manner, if any, as the State Government may by rules prescribe.C.-Of the time of Stamping Instruments.

17. Instruments executed in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973].

- All instruments chargeable with duty and executed by any person in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] shall be stamped before or at the time of execution.[Provided that nothing in this section shall apply to an instrument in respect of which stamp duty has been paid under section 10A.] [Inserted by Act 24 of 1999 w.e.f. 18.8.1999]

18. Instruments executed out of India.

(1)Every instrument chargeable with duty executed only out of India may be stamped within three months after it has been first received in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973].

(2)Where any such instrument cannot, with reference to the description of stamp, prescribed therefor, be duly stamped by a private person, it may be taken within the said period of three months to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] who shall stamp the same, in such manner as the Government may by rule prescribe, with a stamp of such value as the person so taking such instrument may require and pay for.

19. Payment of duty on certain instruments liable to increased duty in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973].

- Where any instrument of the nature described in any article in the Schedule and relating to any property situate or to any matter or thing done or to be done in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] is executed out of the said State and subsequently received in the said State,-

(a)the amount of duty chargeable on such instrument shall be the amount of duty chargeable under the Schedule on a document of the like description executed in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] less the amount of duty, if any, already paid on such instrument in any other State in India,

(b)and in addition to the stamps, if any, already affixed thereto, such instrument shall be stamped with the stamps necessary for the payment of the duty chargeable on it under clause (a) of this section, in the same manner and at the same time and by the same persons as though such instrument were an instrument received in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] for the first time at the time when it became chargeable with the higher duty, and

(c)the provisions contained in clause (b) of the proviso to subsection (3) of section 32 shall apply to such instrument as if such were an instrument executed or first executed out of India and first received in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] when it became chargeable to the higher duty aforesaid, but the provision contained in clause (a) of the said proviso shall not apply thereto.

D.-Of Valuations for Duty.

20. Conversion of amount expressed in foreign currencies.

(1)Where an instrument is chargeable with ad valorem duty in respect of any money expressed in any currency other than that of India, such duty shall be calculated on the value of such money in the currency of India according to the current rate of exchange on the day of the date of the instrument.

(2)The rate of exchange prescribed by the Central Government under subsection (2) of section 20 of the Indian Stamp Act, [1899] [Substituted by Act 8 of 1958 w.e.f. 29.3.1958] (Central Act II of [1899] [Substituted by Act 8 of 1958 w.e.f. 29.3.1958]) shall be deemed to be the current rate of exchange for the conversion of any foreign currency for the purposes of calculating the duty under sub-section (1).

21. Stock and marketable securities how to be valued.

- Where an instrument is chargeable with ad valorem duty in respect of any stock or of any marketable or other security, such duty shall be calculated on the value of such stock or security according to the average price or the value thereof on the day of the date of the instrument.

22. Effect of statement of rate of exchange or average price.

- Where an instrument contains a statement of current rate of exchange, or average price, as the case may require, and is stamped in accordance with such statement, it shall, so far as regards the subject matter of such statement, be presumed, until the contrary is proved, to be duly stamped.

23. Instruments reserving interest.

- Where interest is expressly made payable by the terms of an instrument, such instrument shall not be chargeable with duty higher than that with which it would have been chargeable had no mention of interest been made therein.

24. Certain instruments connected with mortgages of marketable securities to be chargeable as agreements.

(1)Where an instrument,-

(a)is given upon the occasion of the deposit of any marketable security by way of security for money advanced or to be advanced by way of loan, or for an existing or future debt; or

(b)makes redeemable or qualifies a duly stamped transfer, intended as a security, of any marketable security,

it shall be chargeable with duty as if it were an agreement or memorandum of an agreement chargeable with duty under Article 5 of the Schedule.

(2)A release or discharge of any such instrument shall be chargeable with the like duty.

25. How transfer in consideration of debt, or subject to future payment etc., to be charged.

- Where any property is transferred to any person in consideration, wholly or in part, of any debt due to him, or subject either certainly or contingently to the payment or transfer of any money or stock, whether being or constituting a charge or encumbrance upon the property or not, such debt, money, or stock is to be deemed the whole or part, as the case may be, of the consideration in respect whereof the transfer is chargeable with ad valorem duty:Provided that nothing in this section shall apply to any such certificate of sale as is mentioned in Article 15 of the Schedule.Explanation. - In the case of a sale of property subject to a mortgage or other encumbrance, any unpaid mortgage money or money charged, together with the interest (if any) due on the same, shall be deemed to be part of the consideration for the sale:Provided that, where property subject to a mortgage is transferred to the mortgagee, he shall be entitled to deduct from the duty payable on the transfer the amount of any duty already paid in respect of the mortgage.Illustrations.

(1)A owes B Rs. 1,000. A sells a property to B the consideration being Rs. 500 and the release of the previous debt of Rs. 1,000. Stamp duty is payable on Rs. 1,500.

(2)A sells a property to B for Rs. 500 which is subject to a mortgage to C for Rs. 1,000 and unpaid interest Rs. 200. Stamp duty is payable on Rs. 1,700.

(3)A mortgages a house of the value of Rs. 10,000 to B for Rs. 5,000. B afterwards buys the house from A. Stamp duty is payable on Rs. 10,000 less the amount of stamp duty already paid for the mortgage.

26. Valuation in case of annuity, etc.

- Where an instrument is executed to secure the payment of annuity or other sum payable periodically, [x x x] [Omitted by Act 12 of 1975 w.e.f. 1.5.1975] the amount secured by such instrument, [x x x] [Omitted by Act 12 of 1975 w.e.f. 1.5.1975] shall, for the purposes of this Act be deemed to be,-

(a)where the sum is payable for a definite period so that the total amount to be paid can be previously ascertained-such total amount;

(b)where the sum is payable in perpetuity or for an indefinite time not terminable with any life in being at the date of such instrument [x x x] [Omitted by Act 12 of 1975 w.e.f. 1.5.1975]-the total amount which, according to the terms of such instrument [x x x] [Omitted by Act 12 of 1975 w.e.f. 1.5.1975] will or may be payable during the period of twenty years calculated from the date on which the first payment becomes due; and

(c)where the sum is payable for an indefinite time terminable with any life in being at the date of such instrument [x x x] [Omitted by Act 12 of 1975 w.e.f. 1.5.1975]-the maximum amount which will or may be payable as aforesaid during the period of twelve years calculated from the date on which the first payment becomes due.

27. Stamp where value of subject matter is indeterminate.

- Where the amount or value of the subject matter of any instrument chargeable with ad valorem duty cannot be or could not have been, ascertained at the date of its execution, or first execution, nothing shall be claimable under such instrument more than the highest amount or value for which, if stated in an instrument of the same description, the stamp actually used would, at the date of such execution, have been sufficient:Provided that, in the case of the lease of mine in which royalty or a share of the produce is received as the rent, or the part of the rent, it shall be sufficient to have estimated such royalty or the value of such share, for the purpose of stamp duty,-

(a)when the lease has been granted by or on behalf of the Government, at such amount or value as the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may, having regard to all the circumstances of the case, have estimated as likely to be payable by way of royalty or share to the Government under the lease; or

(b)when the lease has been granted by any other person, at twenty thousand rupees a year,

and the whole amount of such royalty or share, whatever it may be, shall be claimable under such lease:Provided also that, where proceedings have been taken in respect of any instrument under section 31 or 39 the amount certified by the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] shall be deemed to be the stamp actually used at the date of execution.

28. Facts affecting duty to be set forth in instrument.

- [(1)] [Re-numbered by Act 17 of 1966 w.e.f. 15.11.1966] The consideration (if any) and all other facts and circumstances affecting the chargeability of any instrument with duty, or the amount of the duty with which it is chargeable, shall be fully and truly set forth therein.

(2)[ In the case of instruments relating to immovable property chargeable with an ad valorem duty on the value of the property, and not on the value set forth, the instrument shall fully and truly set forth the annual land revenue in the case of revenue paying land, the annual rental or gross assets, if any, in the case of other immovable property, the local rates, municipal or other taxes, if any, to which such property may be subject, and any other particulars which may be prescribed by rules made under this Act.] [Inserted by Act 17 of 1966 w.e.f. 15.11.1966]

(3)[ In the areas where section 45A is in force, the instruments referred to in the said section shall fully and truly set forth the market value of the property which is the subject matter of the instrument and such other particulars as the State Government may by rules prescribe.] [Inserted by Act 12 of 1975 w.e.f. 1.5.1975]

28A. [ [Omitted by Act 6 of 1999 w.e.f. 1.4.1999]

x x x] [Inserted by Act 2 of 2012 w.e.f. 4.1.2012]

28B. [ [Omitted by Act 6 of 1999 w.e.f. 1.4.1999]

x x x] [Substituted by Act 8 of 2010 w.e.f. 1.4.2010]

29. [ Direction as to duty in case of certain conveyances. [Substituted by Act 12 of 1975 w.e.f. 1.5.1975]

- Where a subpurchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with advalorem duty in respect of the market value of the property which is the subject matter of conveyance and is duly stamped accordingly, any conveyance to be afterwards made to him for the same property by the original seller shall be chargeable with a duty equal to that which would be chargeable on a conveyance for the market value of the property which is the subject matter of the conveyance or where such duty would exceed ten rupees, with a duty of ten rupees.]E.-Duty by whom payable.

30. Duties by whom payable.

- In the absence of an agreement to the contrary, the expense of providing the proper stamp shall be borne,-

(a)in the case of any instrument described in any of the following Articles of the Schedule, namely

No. 2	(Administration Bond),
No. 6	(Agreement relating to deposit of title deeds, pawn or pledge)
No. 12	(Bond),
No. 13	(Bottomry Bond),
No.[23] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Customs Bond),
No.[27] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Further Charge),
No.[29] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Indemnity Bond),
No.[34] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Mortgage Deed),
No.[45] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Release),
No.[46] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Respondentia Bond),
No.[47] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Security Bond or Mortgage Deed).
No.[48] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(Settlement),
No.[52] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(a) (Transfer of Debentures, being marketable securities,whether the debenture is liable to duty or not),
No.[52] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]	(b) (Transfer of any interest secured by a bond, mortgage deedor policy of insurance), by the person drawing, making orexecuting such instrument;

(b)in the case of a conveyance (including a reconveyance of mortgaged property) by the grantee; in the case of a lease or agreement to lease-by the lessee or intended lessee;

(c)in the case of a counterpart of lease-by the lessor;

(ca)[ in the case pf power of attorney by the principal;] [Inserted by Act 24 of 1999 w.e.f. 18.8.1999]

(d)in the case of an instrument of exchange-by the parties in equal shares;

(dd)[ in the case of a certificate of enrollment in the roll of advocates maintained by the State Bar Council-by the Advocate enrolled;] [Inserted by Act 29 of 1962 w.e.f. 1.10.1962]

(e)in the case of a certificate of sale-by the purchaser of the property to which such certificate relates; and

(f)in the case of an instrument of partition-by the parties thereto in proportion to their respective shares in the whole property partitioned, or, when the partition is made in execution of an order passed by a Revenue authority or Civil Court or arbitrator, in such proportion as such authority, Court or arbitrator directs.

["(g) in the case of an acknowledgment of debt [Art. 1(i)] - by the Debtor; [Inserted by Act 17 of 2017 w.e.f.01.04.2017]

(h)in the case of an acknowledgment of a letter, article, etc., [Art. 1(ii)] - by the Person owning the letter, article etc.,;

(i)in the case of an adoption deed [Art.3]- by the adopter;

(j)in the case of an affidavit [Art.4] - by the executant;

(k)in the case of an agreement for sale of bill of exchange [Art.5(a)]- by the Purchaser;

(l)in the case of an agreement for purchase or sale of a Government security [Art.5(b)]- by the purchaser;

(m)in the case of an agreement for purchase or sale of shares, stocks [Art.5(c)]- by the purchaser;

(n)in the case of an agreement for transaction of lease-cum- sale[Art.5(d)] - by the lessee;

(o)in the case of any instrument of lease-cum-sale effected by the Bengaluru Development Authority or the Karnataka Housing Board [Art.5 (da)] - by the Lessee;

(p)in the case of agreement for sale of immovable property [Art.5(e)] - by the purchaser;

(q)in the case of agreement for construction or development of an immovable property [Art.5(f)] - by the developer;

(r)in the case of agreement for sale of movable property [Art. 5(g)]- by the purchaser;

(s)in the case of agreement to mortgage [Art. 5(h)]- by the mortgager;

(t)in the case of contract between the Depository Participant and client for opening de-mat account [Art.5 (i)] - by the client;

(u)in the case of agreement relating to contract between stock broker or sub broker and client (principal) for Stock Market operations [Art. 5 (i-a)] - by the client;

(v)in the case of agreement relating to advertisement or telecasting or broadcasting of programs for promotion and development of business [Art.5(i-b)] - by the advertiser;

(w)in the case of agreement relating to assignment or transfer of intellectual property rights [Art.5(i-c)] - by the assignee;

(x)in the case of agreement relating to building works or labour or services (works contracts) [Art.5 (i-d)] - by the person entrusting the works or availing the services;

(y)in the case of chit agreement [Art.5(i-e)] - by the chitster;

(z)in the case of agreement if not otherwise provided for [Art.5(j)] - by the executant;

(za)in the case of appointment in execution of a power [Art.-7] - by the executant;

(zb)in the case of appraisement or valuation [Art.-8] - by the person availing the services;

(zc)in the case of apprenticeship deed [Art.-9] - by the apprentice;

(zd)in the case of articles of association of a company [Art.-10] - by the company;

(ze)in the case of award [Art.-11] - by the awardee;

(zf)in the case of cancellation of instruments [Art.-14] - by the executant;

(zg)in the case of certificate or other document evidencing the title of the holder thereof or any other person, either to any share, scrip or stock [Art.-16]- by the company issuing share, scrip or stock;

(zh)in the case of charter-party [Art.-18]- by the charterer or shipper;

(zi)in the case of clearance list [Art.18-A]- by the investors;

(zj)in the case of composition deed [Art.19]- by the debtor;

(zk)in the case of copy or extract [Art.21]- by the applicant;

(zl)in the case of counterpart or duplicate [Art.22]- by the person who paid the stamp duty on the original document;

(zm)in the case of delivery order in respect of goods [Art.24] - by the importer;

(zn)in the case of divorce deed of marriage [Art.25]- by the divorcer;

(zo)in the case of gift deed [Art.28]- by the donee;

(zp)in the case of letter of allotment of shares, in any company [Art.31]- by the company;

(zq)in the case of letter of licence [Art.32] - by the debtor;

(zr)in the case of licence of immovable or movable property [Art.32-A] - by the licensee;

(zs)in the case of memorandum of association of a company [Art.33] - by the company;

(zt)in the case of mortgage of a crop [Art.35] - by the mortgagor;

(zu)in the case of Notarial act [Art.36] - by the applicant;

(zv)in the case of Note or Memorandum or record of transactions (electronic or otherwise) - Sent by a broker or agent [Art.37]- by the Investors;

(zw)in the case of Note of protest by the master of a ship [Art.38]- by the charterer or shipper or the consignee or the importer as the case may be;

(zx)in the case of partnership- instrument of constitution [Art.40(A)] - by the partnership firm;

(zy)in the case of partnership- instrument of reconstitution [Art.40(B)] - by the partnership firm;

(zz)in the case of partnership - instrument of dissolution [Art.40-(C)(a)] - by the outgoing partner to whom the property is allotted;

(zza)in any other case [Art.40-(C)(b)]- by the partnership firm;

(zzb)in the case of limited liability partnership [Art.40-A]- by the limited liability partnership;

(zzc)in the case of protest of bill or note [Art.42] - by the beneficiary;

(zzd)in the case of protest by the master of a ship [Art.43]- by the charterer or shipper or the consignee or the importer as the case may be;

(zze)in the case of share warrants, to bearer issued under the Companies Act. [Art.49]- by the company;

(zzf)in the case of shipping order [Art.50]- by the shipper;

(zzg)in the case of surrender of lease [Art.51]- by the lessee;

(zzh)in the case of transfer- of any property under section 25 of the Administrator General Act, 1963 [Art.52-(c)]- by the beneficiary;

(zzi)in the case of transfer- of any trust property [Art.52-(d)]- by the trust or trustee or beneficiary as the case may be;

(zzj)in the case of transfer of lease [Art.53] - by the transferee;

(zzk)in the case of transfer of licence [Art.53-A]- by the transferee;

(zzl)in the case of Trust- declaration of or concerning, any property [Art.54]- by the author of the Trust; and

(zzm)in the case of warrant for goods [Art.55]- by the owner of the goods;"]

Chapter III
Adjudication as to Stamps

31. Adjudication as to proper stamp.

(1)When any instrument, whether executed or not and whether previously stamped or not is brought to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962], and the person bringing it applies to have the opinion of that officer as to the duty (if any) with which it is chargeable, and pays a fee of [one hundred rupees] [Substituted by Act 24 of 1999 w.e.f. 18.8.1999], the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] shall determine the duty (if any) with which, in his judgment, the instrument is chargeable.

(2)For this purpose the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may require to be furnished with an abstract of the instrument, and also with such affidavit or other evidence as he may deem necessary to prove that all the facts and circumstances affecting the chargeability of the instrument with duty, or the amount of the duty with which it is chargeable, are fully and truly set forth therein, and may refuse to proceed upon any such application, until such abstract and evidence have been furnished accordingly:Provided that,-

(a)no evidence furnished in pursuance of this section shall be used against any person in any civil proceeding except in any enquiry as to the duty with which the instrument to which it relates is chargeable; and

(b)every person by whom any such evidence is furnished, shall, on payment of the full duty with which the instrument to which it relates, is chargeable, be relieved from any penalty which he may have incurred under this Act by reason of the omission to state truly in such instrument any of the facts or circumstances aforesaid.

32. Certificate by [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962].

(1)When an instrument brought to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under section 31, is in his opinion, one of a description chargeable with duty, and,-

(a)the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] determines that it is already fully stamped, or

(b)the duty determined by the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under section 31, or such a sum as, with the duty already paid in respect of the instrument, is equal to the duty so determined, has been paid,

the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] shall certify by endorsement on such instrument that the full duty (stating the amount) with which it is chargeable has been paid.

(2)When such instrument is, in his opinion, not chargeable with duty, the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] shall certify in manner aforesaid that such instrument is not so chargeable.

(3)[Subject to any orders made under Chapter VI, any instrument upon which] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] an endorsement has been made under this section shall be deemed to be duly stamped or not chargeable with duty, as the case may be; and, if chargeable with duty, shall be receivable in evidence or otherwise, and may be acted upon and registered as if it had been originally duly stamped:Provided that nothing in this section shall authorize the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] to endorse,-

(a)any instrument executed or first executed in India and brought to him after the expiration of one month from the date of its execution, or first execution, as the case may be;

(b)any instrument executed or first executed out of India and brought to him after the expiration of three months after it has been first received in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973]; or

(c)any instrument chargeable [with a duty not exceeding fifteen naye paise] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] or a mortgage of crop [Article [35] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962](a) of the Schedule] chargeable under clause (a) or (b) of section 3 with a duty of twenty-five naye paise, when brought to him, after the execution thereof, on paper not duly stamped.

Chapter IV
Instruments Not Duly Stamped

33. Examination and impounding of instruments.

(1)Every person having by law or consent of parties authority to receive evidence, and every person in charge of a public office, except an officer of police, before whom any instrument, chargeable in his opinion, with duty, is produced or comes in the performance of his functions, shall, if it appears to him that such instrument is not duly stamped, impound the same.

(2)For that purpose every such person shall examine every instrument so chargeable and so produced or coming before him, in order to ascertain whether it is stamped with a stamp of the value and description required by the law in force in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] when such instrument was executed or first executed:Provided that,-

(a)nothing herein contained shall be deemed to require any Magistrate or Judge of a Criminal Court to examine or impound, if he does not think fit so to do, any instrument coming before him in the course of any proceeding other than a proceeding under Chapter XII or Chapter XXXVI of the Code of Criminal Procedure, 1898;

(b)in the case of a Judge of the High Court, the duty of examining and impounding any instrument under this section may be delegated to such officer as the Court appoints in this behalf.

(3)For the purposes of this section, in cases of doubt, the Government may determine,-

(a)what offices shall be deemed to be public offices; and

(b)who shall be deemed to be persons in charge of public offices.

34. Instruments not duly stamped inadmissible in evidence, etc.

- No instrument chargeable with duty shall be admitted in evidence for any purpose by any person having by law or consent of parties authority to receive evidence, or shall be acted upon, registered or authenticated by any such person or by any public officer, unless such instrument is duly stamped:Provided that,-

(a)any such instrument not being an instrument chargeable [with a duty not exceeding fifteen naye paise] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] only, or a mortgage of crop [Article [35] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] (a) of the Schedule] chargeable under clauses (a) and (b) of section 3 with a duty of twenty five naye paise shall, subject to all just exceptions, be admitted in evidence on payment of the duty with which the same is chargeable, or, in the case of an instrument insufficiently stamped, or the amount required to make up such duty, together with a penalty of five rupees, or, when ten times the amount of the proper duty or deficient portion thereof exceeds five rupees, of a sum equal to ten times such duty or portion;

(b)where a contract or agreement of any kind is effected by correspondence consisting of two or more letters and any one of the letters bears the proper stamp, the contract or agreement shall be deemed to be duly stamped;

(c)nothing herein contained shall prevent the admission of any instrument in evidence in any proceeding in a Criminal Court, other than a proceeding under Chapter XII or Chapter XXXVI of the Code of Criminal Procedure, 1898;

(d)nothing herein contained shall prevent the admission of any instrument in any Court when such instrument has been executed by or on behalf of the Government, or where it bears the certificate of the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] as provided by section 32 or any other provision of this Act [and such certificate has not been revised in exercise of the powers conferred by the provisions of Chapter VI] [Inserted by Act 29 of 1962 w.e.f. 1.10.1962].

35. Admission of instrument where not to be questioned.

- Where an instrument has been admitted in evidence such admission shall not, except as provided in section 58, be called in question at any stage of the same suit or proceeding on the ground that the instrument has not been duly stamped.

36. Admission of improperly stamped instruments.

- The State Government may make rules providing that, where an instrument bears a stamp of sufficient amount but of improper description, it may, on payment of the duty with which the same is chargeable, be certified to be duly stamped, and any instrument so certified shall then be deemed to have been duly stamped as from the date of its execution.

37. Instruments impounded how dealt with.

(1)When the person impounding an instrument under section 33 has by law or consent of parties authority to receive evidence and admits such instrument in evidence upon payment of a penalty as provided by section 34 or of duty as provided by section 36, he shall send to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] an authenticated copy of such instrument, together with a certificate in writing, stating the amount of duty and penalty levied in respect thereof, and shall send such amount to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] or to such person as he may appoint in this behalf.

(2)In every other case, the person so impounding an instrument shall send it in original to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962].

38. [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] 's power to refund penalty paid under subsection (1) of section 37.

(1)When a copy of an instrument is sent to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under sub-section (1) of section 37, he may, if he thinks fit, refund any portion of the penalty in excess of five rupees which has been paid in respect of such instrument.

(2)When such instrument has been impounded only because it has been written in contravention of section 13 or section 14, the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may refund the whole penalty so paid.

39. [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]'s power to stamp instruments impounded.

(1)When the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] impounds any instrument under section 33, or receives any instrument sent to him under sub-section (2) of section 37, not being an instrument chargeable [with a duty not exceeding fifteen naye paise] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] only or a mortgage of crop [Article [35] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] (a) of the Schedule] chargeable under clause (a) or (b) of section 3 with a duty of twenty-five naye paise, he shall adopt the following procedure:-

(a)if he is of opinion that such instrument is duly stamped, or is not chargeable with duty, he shall certify by endorsement thereon that it is duly stamped, or that it is not so chargeable, as the case may be;

(b)if he is of opinion that such instrument is chargeable with duty and is not duly stamped he shall require the payment of the proper duty or the amount required to make up the same, together with a penalty of five rupees; or if he thinks fit; an amount not exceeding ten times the amount of the proper duty or of the deficient portion thereof, whether such amount exceeds or falls short of five rupees:

Provided that, when such instrument has been impounded only because it has been written in contravention of section 13 or section 14, the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may, if he thinks fit, remit the whole penalty prescribed by this section.

(2)[Subject to any orders made under Chapter VI, every certificate] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under clause (a) of sub-section (1) shall, for the purposes of this Act be conclusive evidence of the matters stated therein.

(3)Where an instrument has been sent to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under sub-section (2) of section 37, the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] shall, when he has dealt with it as provided by this section, return it to the impounding officer.

40. Instruments unduly stamped by accident.

- If any instrument chargeable with duty and not duly stamped, not being an instrument chargeable [with a duty not exceeding fifteen naye paise] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] or a mortgage of crop [Article [35] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] (a) of the Schedule] chargeable under clause (a) or (b) of section 3 with a duty of twenty-five naye paise is produced by any person of his own motion before the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] within one year from the date of its execution or first execution and such person brings to the notice of the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] the fact that such instrument is not duly stamped and offers to pay to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] the amount of the proper duty, or the amount required to make up the same, and the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] is satisfied that the omission to duly stamp such instrument has been occasioned by accident, mistake or urgent necessity, he may, instead of proceeding under sections 33 and 39, receive such amount and proceed as next hereinafter prescribed.

41. Endorsement of instruments on which duty has been paid under section 34, 39 or 40.

(1)When the duty and penalty (if any) leviable in respect of any instrument have been paid under section 34, section 39 or section 40, the person admitting such instrument in evidence or the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962], as the case may be, shall certify by endorsement thereon that the proper duty or, as the case may be, the proper duty and penalty (stating the amount of each) have been levied in respect thereof and the name and residence of the person paying them.

(2)Every instrument so endorsed shall thereupon be admissible in evidence, and may be registered and acted upon and authenticated as if it had been duly stamped, and shall be delivered on his application in this behalf to the person from whose possession it came into the hands of the officer impounding it, or as such person may direct:Provided that,-

(a)no instrument which has been admitted in evidence upon payment of duty and a penalty under section 34, shall be so delivered before the expiration of one month from the date of such impounding, or if the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] has certified that its further detention is necessary and has not cancelled such certificate;

(b)nothing in this section shall affect order XIII, rule 9 of the First Schedule to the Code of Civil Procedure, 1908.

42. Prosecution for offence against stamp law.

- The taking of proceedings or the payment of a penalty under this Chapter in respect of any instrument shall not bar the prosecution of any person who appears to have committed an offence against the law relating to stamps in respect of such instrument:Provided that no such prosecution shall be instituted in the case of any instrument in respect of which such a penalty has been paid, unless it appears to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] that the offence was committed with an intention of evading payment of the proper duty.

43. Persons paying duty or penalty may recover same in certain cases.

(1)When any duty or penalty has been paid under section 34, section 36, section 39 or section 40, by any person in respect of an instrument, and by agreement or under the provisions of section 30 or any other enactment in force at the time such instrument was executed, some other person was bound to bear the expense of providing the proper stamp for such instrument, the first-mentioned person shall be entitled to recover from such other person the amount of the duty or penalty so paid.

(2)For the purpose of such recovery any certificate granted in respect of such instrument under this Act shall be conclusive evidence of the matters therein certified.

(3)Such amount may, if the Court thinks fit, be included in any order as to costs in any suit or proceeding to which such persons are parties and in which such instrument has been tendered in evidence. If the Court does not include the amount in such order, no further proceedings for the recovery of the amount shall be maintainable.

44. Power to Revenue authority to refund penalty or excess duty in certain cases.

(1)Where any penalty is paid under section 34 or section 39, the Chief Controlling Revenue Authority may, upon application in writing made within one year from the date of the payment, refund such penalty wholly or in part.

(2)Where, in the opinion of the Chief Controlling Revenue Authority, stamp duty in excess of that which is legally chargeable has been charged and paid under [any of the provisions of this Act] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999], such authority may, upon application in writing made [within six months from the date of registration of the instrument or the order charging the same] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999], refund the excess.[Provided that with the sanction of the State Government the Chief Controlling Revenue Authority may make the refund after the period specified in sub-section (1) or (2).] [Inserted by Act 29 of 1962 w.e.f. 1.10.1962]

45. Non-liability for loss of instruments sent under section 37.

(1)If any instrument sent to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under sub-section (2) of section 37 is lost, destroyed or damaged during transmission, the person sending the same shall not be liable for such loss, destruction or damage.

(2)When any instrument is about to be so sent, the person from whose possession it came into the hands of the person impounding the same, may require a copy thereof to be made at the expense of such first-mentioned person and authenticated by the person impounding such instrument.

45A. [ Instrument of conveyance, etc. undervalued how to be dealt with. [Inserted by Act 12 of 1975 w.e.f. 1.5.1975 in Bangalore City, Hubli- Dharwad City, Municipalities of Mysore, Mangalore, Belgaum, Gulbarga, Bellary, Davanagere, Bijapur, Shimoga and Bhadravathi and w.e.f. 1.4.1991 in other areas of the State by notification]

(1)If the registering officer appointed under the Registration Act, 1908 (Central Act XVI of 1908) while registering [any instrument of,-

(a)Conveyance [section 2(1)(d) ];

(b)Gift [Article 28(a)];

(c)Exchange of property (Article 26);

(d)Settlement (Article 48-A(i))

(e)Reconstitution of Partnership (Article 40-B (a) );

(f)Dissolution of partnership (Article 40-C (a) );

(g)An agreement to sell covered under sub-clause (i) of clause (e) of Article 5;

(h)[ a lease covered under item [(vi)] of Article 30;]

(i)A power of Attorney covered [under clause (e), clause (ea) and clause (eb)] [Substituted by Act 9 of 2009 w.e.f..1.4.2009] of Article 41;

(j)Release [(Article 45-(a)] [Substituted by Act 7 of 2007 w.e.f. 1.4.2007];

(k)Conveyance under a decree or final order of any Civil Court has reason to believe] having regard to the estimated market value published by the Committee constituted under section 45B, if any or otherwise, that the market value of the property which is the subject matter of such instrument has not been truly set forth, he shall after arriving at the estimated market value, communicate the same to the parties and unless the parties pay the duty on the basis of such valuation, shall keep pending the process of registration and refer the matter along with a copy of such instrument to the Deputy Commissioner for determination of the market value of property and the proper duty payable thereon.]

(l)[ Agreement [Article 5(f)] [Inserted by Act 7 of 2007 w.e.f. 1.4.2007]

(m)Award [Article 11(a)]

(n)Trust [Article 54 (A) (iii)]

(o)[ Transferable Development Rights [ Article 20(7)] [Inserted by Act 8 of 2010 w.e.f.1.4.2010].]

(2)On receipt of a reference under sub-section (1), the Deputy Commissioner shall, after giving the parties a reasonable opportunity of being heard and after holding an inquiry in such manner as the State Government may by rules prescribe, determine by order [as for as may be within ninety days from the date of receipt of such reference] [Inserted by Act 24 of 1999 w.e.f. 18.8.1999] the market value of the property which is the [subject matter of instrument specified in sub-section (1) and the duty payable thereon.] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003] The difference, if any, in the amount of duty, shall be payable by the person liable to pay the duty. [with interest at twelve percent per annum if he does not pay within ninety days from the date of order of the Deputy Commissioner] [Inserted by Act 7 of 2006 w.e.f. 1.4.2006][Provided that the payment of interest is not applicable to instruments executed prior to 31st day of March, 2006.] [Inserted by Act 7 of 2006 w.e.f. 1.4.2006]

(3)The Deputy Commissioner may, suo motu within two years from the date of registration of [any instrument specified in sub-section (1)] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003] not already referred to him under sub-section (1), call for and examine the instrument for the purpose of satisfying himself as to the correctness of the market value of the property which is the [subject matter of any instrument specified in sub-section (1) and the duty payable thereon] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003] and if after such examination he has reason to believe that the market value of such property has not been truly set forth in the instrument, he may determine by order the market value of such property and the duty payable thereon in accordance with the procedure provided for in sub-section (2). The difference, if any, in the amount of duty, shall be payable by the person liable to pay the duty [with interest at twelve percent per annum if he does not pay within ninety days from the date of order of the Deputy Commissioner] [Inserted by Act 7 of 2006 w.e.f. 1.4.2006]:Provided that nothing in this sub-section shall apply to any instrument registered before the commencement of the Karnataka Stamp (Amendment) Act, 1975[Provided further that the payment of interest is not applicable to instruments executed prior to 31st day of March 2006.] [Inserted by Act 7 of 2006 w.e.f. 1.4.2006].

(4)The order of the Deputy Commissioner under sub-section (2) or (3) shall be communicated to the person liable to pay the duty. A copy of every such order shall be sent to the registering officer concerned.

(5)Any person aggrieved by an order of the Deputy Commissioner under subsection (2) or sub-section (3) may, prefer an appeal before the [Regional Commissioner] [Substituted by Act 17 of 2007 w.e.f. 5.1.2007] and all such appeals shall be preferred within such time and be heard and disposed off in such manner as the State Government may by rules prescribe.[Provided that no appeal shall be admitted unless the person aggrieved has deposited, in the prescribed manner, fifty percent of the difference in the amount of duty as determined by the Deputy Commissioner under sub-section (2) or (3):Provided further that where after the determination of the market value by the Appellate Authority or determined again by the Deputy Commissioner on a remand of the case the stamp duty borne is found to be sufficient, the amount deposited shall be returned to the person concerned:[Provided also that such person shall pay the difference in duty along with interest at twelve percent per annum if he does not pay with in ninety days from the date of order of the Deputy Commissioner or sixty days from the date of order of the Appellate Authority, so however, the payment of interest is not applicable to instruments executed prior to eighteenth day of August 1999] [Proviso 1,2 and 3 inserted by Act 24 of 1999 w.e.f. 18.8.1999]][Explanation. [Omitted by Act 6 of 1999 w.e.f. 1.4.1999] - x x x ]

45B. [ Constitution of Central Valuation Committee. [Sub-sections (1) to (3) substituted by Act 8 of 2003 w.e.f. 1.4.2003] - (1) The State Government shall by notification, constitute a Central Valuation Committee, under the chairmanship of Inspector General of Registration and Commissioner of Stamps, for estimation, publication and revision of market value guidelines of properties in any area in the State at such intervals and in such manner as may be prescribed, for the purpose of section 45-A.

(2)The Central Valuation Committee is the final authority for the formulation of policy, methodology and administration of the market value guidelines in the State and may for the said purpose constitute market valuation sub-committees in each sub-district and district comprising of such members as may be prescribed, for estimation and revision of the market value guidelines in the State.

(3)Sub-committees so constituted shall function under the Central Valuation Committee and shall follows such procedures as may be prescribed and shall be subject to reconstitution whenever found necessary.]

46. Recovery of duties and penalties.

- [(1)] [Re-numbered by Act 11 of 1991 w.e.f. 1.4.1991] All duties, penalties and other sums required to be paid under this Chapter may be recovered [along with simple interest at such rate as may be specified by the State Government by notification] [Inserted by Act 24 of 1999 w.e.f. 18.8.1999] by the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] by distress and sale of the movable property of the person from whom the same are due, or by any other process for the time being in force for the recovery of arrears of land revenue.[[(2) All duties, penalties and other sums required to be paid under this Chapter shall be a charge on the property which is t he subject matter of the Instrument:] [Sub-sections (2) and (3) Substituted by Act 24 of 1999 w.e.f. 18.8.1999]Provided that the provisions of sub-section (2) shall be deemed to apply to all cases of which are pending recovery and to proceedings under sub-section (1) which have already been initiated.

(3)Notwithstanding anything contained in the Registration Act, 1908 (Central Act XVI of 1908), a note of such charge and its extinguishments shall be made in the indices prescribed therein and shall be deemed to be a notice under the said Act]

46A. [ Recovery of stamp duty not levied or short levied. [Inserted by Act 15 of 1980 w.e.f. 1.4.1972]

(1)Where any instrument chargeable with duty has not been duly stamped, the Chief Controlling Revenue Authority or any other officer authorized by the State Government (hereinafter referred to as the authorized officer) may, within [five years] from the date of commencement of the Karnataka Stamp (Amendment) Act, 1980 or the date on which the duty became payable whichever is later, serve notice on the person by whom the duty was payable requiring him to show cause why the proper duty or the amount required to make up the same should not be collected from him:Provided that where the non-payment was by reason of fraud, collusion or any wilful mis-statement or suppression of facts or contravention of any of the provisions of this Act or of the rules made thereunder with intent to evade payment of duty, the provisions of this sub-section shall have effect, as if for the words [five years] [Substituted by Act 16 of 1983 w.e.f. 1.4.1972] the words [ten years] [Substituted by Act 16 of 1983 w.e.f. 1.4.1972] were substituted:Provided further that nothing in this sub-section shall apply to instruments executed prior to first day of April, 1972.Explanation. - Where the service of a notice, under this sub-section is stayed by an order of a court, the period of such stay shall be excluded in computing the aforesaid period of [five years] [Substituted by Act 16 of 1983 w.e.f. 1.4.1972] or [ten years] [Substituted by Act 16 of 1983 w.e.f. 1.4.1972], as the case may be.

(2)The Chief Controlling Revenue Authority or the authorized officer shall, after considering the representation, if any, made by the person on whom notice is served under sub-section (1), determine the amount of duty due from such person (not being in excess of the amount specified in the notice) and thereupon such person shall pay the amount so determined.

(3)Any person aggrieved by an order under sub-section (2), may prefer an appeal before the Karnataka Appellate Tribunal within three months from the date of such order.

(4)[ All duties payable under this section shall be recovered in accordance with provisions of section 46.] [Substituted by Act 24 of 1999 w.e.f. 18.8.1999]]

46B. [ Duties, penalties etc, to be certified. [Inserted by Act 24 of 1999 w.e.f. 18.8.1999]

- All duties whether proper or deficit, penalties, or any other sums paid or recovered under any of the provisions of this Act shall be certified on the instruments in the manner prescribed]

Chapter V
Allowances for Stamps in Certain Cases

47. Allowance for spoiled stamps.

- Subject to such rules as may be made by the State Government as to evidence to be required, or the enquiry to be made, the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may, on application made within the period prescribed in section 48, and if he is satisfied as to the facts, make allowance for impressed stamps spoiled in the cases hereinafter mentioned, namely:-(a)the stamp on any paper inadvertently and undesignedly spoiled, obliterated or by error in writing or any other means rendered unfit for the purpose intended before any instrument written thereon is executed by any person;(b)the stamp on any document which is written out wholly or in part, but which is not signed or executed by any party thereto;(c)the stamp used for an instrument executed by any party thereto which,-

(1)has been after wards found to be absolutely void in law from the beginning;

(2)has been after wards found unfit, by reason of any error or mistake therein, for the purpose originally intended;

(3)by reason of the death of any person by whom it is necessary that it should be executed, without having executed the same, or of the refusal of any such person to execute the same, cannot be completed so as to effect the intended transaction in the form proposed;

(4)for want of the execution thereof by some material party, and his inability or refusal to sign the same, is in fact incomplete and insufficient for the purpose for which it was intended;

(5)by reason of the refusal of any person to act under the same, or to advance any money intended to be thereby secured, or by the refusal or non-acceptance of any office thereby granted, totally fails of the intended purpose;

(6)becomes useless in consequence of the transaction intended to be thereby effected, being effected by some other instrument between the same parties and bearing a stamp of not less value;

(7)is deficient in value and the transaction intended to be thereby effected has been effected by some other instrument between the same parties and bearing a stamp of not less value;

(8)is inadvertently and un-designedly spoiled, and in lieu whereof another instrument made between the same parties and for the same purpose is executed and duly stamped:Provided that, in the case of an executed instrument, no legal proceeding has been commenced in which the instrument could or would have been given or offered in evidence and that the instrument is given up to be cancelled.Explanation. - The certificate of the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under section 32, that the full duty with which an instrument is chargeable has been paid, is an impressed stamp within the meaning of this section.

48. Application for relief under section 47 when to be made.

- The application for relief under section 47 shall be made within the following periods, that is to say,-

(1)in the cases mentioned in clause (c)(5), within [six months] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] of the date of the instrument;

(2)in the case of a stamped paper on which no instrument has been executed by any of the parties thereto, within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after the stamp has been spoiled;

(3)in the case of a stamped paper in which an instrument has been executed by any of the parties thereto, within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after the date of the instrument or, if it is not dated, within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after execution thereof by the person by whom it was first or alone executed;Provided that,-

(a)when the spoiled instrument has been for sufficient reasons sent out of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] the application may be made within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after it has been received back in the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973];

(b)when, from unavoidable circumstances, any instrument for which another instrument has been substituted, cannot be given up to be cancelled within the aforesaid period, the application may be made within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after the date of execution of the substituted instrument.

49. Allowance in case of printed forms no longer required by Corporations.

- The Chief Controlling Revenue Authority may, without limit of time, make allowance for stamped papers used for printed forms of instruments by any banker or by any incorporated company or other body corporate, if for any sufficient reason such forms have ceased to be required by the said banker, company or body corporate: provided that such authority is satisfied that the duty in respect of such stamped papers has been duly paid.

50. Allowance for misused stamps.

(a)When any person has inadvertently used for an instrument chargeable with duty, a stamp of a description other than that prescribed for such instrument by the rules made under this Act, or a stamp of greater value than was necessary or has inadvertently used any stamp for an instrument not chargeable with any duty; or

(b)when any stamp used for an instrument has been inadvertently rendered useless under section 15, owing to such instrument having been written in contravention of the provisions of section 13;

the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may, on application made within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after the date of the instrument, or, if it is not dated, within [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] after the execution thereof by the person by whom it was first or alone executed, and upon the instrument, if chargeable with duty being re-stamped with the proper duty, cancel and allow as spoiled the stamp so misused or rendered useless.

51. [ Allowance for spoiled or misused stamps how to be made. [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]

- In any case in which allowance is made for spoiled or misused stamps, the Deputy Commissioner may, after deducting twenty paise for each rupee or a fraction thereof, give in lieu thereof,-

(a)other stamps of the same description ; or

(b)if required and if he thinks fit, stamps of any, other description; or

(c)at his discretion the value in money equal to the discounted value.]

52. Allowance for stamps not required for use.

- [(1)] [Renumbered by Act 6 of 1999 w.e.f. 1.4.1999] When any person is possessed of a stamp or stamps which have not been spoiled or rendered unfit or useless for the purpose intended, but for which he has no immediate use, the [Deputy Commissioner] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] shall repay to such person the value of such stamp or stamps in money, deducting [ten naye paise] [Substituted by Act 8 of 1958 w.e.f. 29.3.1958] for each rupee or portion of a rupee, upon such person delivering up the same to be cancelled, and proving to the [Deputy Commissioner's] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] satisfaction-(a)that such stamp or stamps were purchased by such person with a bona fide intention to use them; and(b)that he has paid the full price thereof; and(c)that they were so purchased within the period of [one year] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999] next preceding the date on which they were so delivered:Provided that, where the person is a licensed vendor of stamps the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]may, if he thinks fit, make the repayment of the sum actually paid by the vendor without any such deduction as aforesaid.

(2)[ An appeal shall lie against the orders of the Deputy Commissioner within sixty days from the date of the order passed under this chapter to the Chief Controlling Revenue Authority.] [Inserted by Act 6 of 1999 w.e.f. 1.4.1999]

52A. [ Power of State Government to grant relief. [Inserted by Act 29 of 19629 w.e.f. 1.10.1962]

- Notwithstanding anything in the preceding sections of this Chapter, the State Government, after consultation with the Chief Controlling Revenue Authority, if satisfied that it is just and equitable to grant relief in any case or class of cases,-

(i)other than those to which any of the said sections is applicable; [XXX]

(ii)[XXX] [Omitted by Act 17 of 2017 w.e.f. 01.04.2017]

may by order direct the grant of such relief as may be specified in the order and the Deputy Commissioner shall dispose of the case or class of cases conformably to such order.][Provided that the provisions of this section shall not apply to cases where refunds are claimed for loss of stamps.] [Inserted by Act 24 of 1999 w.e.f. 18.8.1999]

52B. [ Invalidation of stamps. [Inserted by Act 17 of 2017 w.e.f. 1.04.2017]

- Notwithstanding anything contained in Sections 47,48,49,50,51 and 52, any stamps, which have been purchased, but have not been used or in respect of which no allowance has been claimed as under the provisions of the Act and the period of six months from the date of purchase of such stamps has not elapsed, may be used before a period of six months from the date of purchase of stamps or delivered for claiming the allowance within the period allowed for claiming the same under the relevant provisions of the Act; but not beyond the period of six months from the date of commencement of the Karnataka Stamp (Amendment) Act, 2017 whichever is later and any stamps not so used or not so delivered within the period aforesaid shall be rendered invalid.]

Chapter VI
Reference and Revision

53. Control of and statement of case to, Chief Controlling Revenue Authority.

(1)The powers exercisable by a [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] under [any provision of this Act or any rule or order made thereunder] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] shall in all cases be subject to the control of the Chief Controlling Revenue Authority.

(2)If any [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] acting under section 31, section 39 or section 40, feels doubt as to the amount of duty with which any instrument is chargeable, he may draw up a statement of the case and refer it with his own opinion thereon, for the decision of the Chief Controlling Revenue Authority.

(3)Such authority shall consider the case and send a copy of its decision to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] who shall proceed to assess and charge the duty (if any) in conformity with such decision.

53A. [ Revision of order passed by Deputy Commissioner or authorized officers. [Inserted by Act 24 of 1999 w.e.f. 18.8.1999]

(1)The Chief Controlling Revenue Authority may except where the matter is pending before an appellate authority under this Act, suo-motu, within a period of five years from the date of the order passed under this Act by the Deputy Commissioner or such other officer authorized by the State Government in this behalf, call for and examine the records relating to such order or proceedings taken under this Act by the Deputy Commissioner or the authorized officer, and if after such examination it has reason to believe that the order so made or proceedings so taken is erroneous or are not in accordance with the provisions of this Act or prejudicial to the interest of the revenue, it may after giving the parties interested an opportunity of being heard, pass an order in writing confirming, modifying or setting aside such order and direct the Deputy Commissioner or the authorized officer, as the case may be to collect the difference of duty, if any payable in accordance with the provisions of section 46:Provided that in appropriate cases, the Chief Controlling Revenue Authority may order stay of operation of the order under revision, pending hearing of the case.

(2)The Chief Controlling Revenue Authority may for the purpose of sub-section (1), require the concerned person to produce before it, the instrument and examine such instrument to determine whether any duty is chargeable or the duty is short levied or improperly levied on account of any wilful mis-statement or suppression of facts made or of contravention of any of the provisions of this Act or rules made thereunder by such person with intent to evade payment of duty.]

54. Statement of case by Chief Controlling Revenue Authority to High Court.

(1)The Chief Controlling Revenue Authority may, state any case referred to it under sub-section (2) of section 53 or otherwise coming to its notice, and refer such case, with its own opinion thereon, to the High Court.

(2)Every such case shall be decided by not less than three Judges of the High Court, and in case of difference, the opinion of the majority shall prevail.

55. Power of High Court to call for further particulars as to case stated.

- If the High Court is not satisfied that the statements contained in the case are sufficient to enable it to determine the questions raised thereby, the Court may refer the case back to the Revenue authority by which it was stated, to make such additions thereto or alterations therein as the Court may direct in that behalf.

56. Procedure in disposing of case stated.

(1)The High Court, upon the hearing of any such case, shall decide the questions raised thereby, and shall deliver its judgment thereon containing the grounds on which such decision is founded.

(2)The Court shall send to the Revenue Authority by which the case was stated, a copy of such judgment under the seal of the Court and the signature of the Registrar; and the Revenue Authority shall, on receiving such copy, dispose of the case conformably to such judgment.

57. Statement of case by other Courts to High Court.

(1), If any Court, other than the High Court, feels doubt as to the amount of duty to be paid in respect of any instrument under proviso (a) to section 34, the Judge may draw up a statement of the case and refer it, with his own opinion thereon, for the decision of the High Court.

(2)Such Court shall deal with the case as if it had been referred under section 54, and send a copy of its judgment under the seal of the Court and the signature of the Registrar to the Chief Controlling Revenue Authority and another like copy to the Judge making the reference, who shall, on receiving such copy, dispose of the case conformably to such judgment.

(3)References made under sub-section (1), when made by a Court subordinate to a District Court, shall be made through the District Court, and, when made by any subordinate Revenue Court, shall be made through the Court immediately superior.

58. Revision of certain decisions of Courts regarding the sufficiency of stamps.

(1)When any Court in the exercise of its Civil or Revenue jurisdiction or any Criminal Court in any proceeding under Chapter XII or Chapter XXXVI of the Code of Criminal Procedure, 1898, makes any order admitting any instrument in evidence as duly stamped or as not requiring a stamp, or upon payment of duty and a penalty under section 34, the Court to which appeals lie from, or references are made by, such first mentioned Court may, of its own motion or on the application of the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962], take such order into consideration

(2)If such Court, after such consideration, is of opinion that such instrument should not have been admitted in evidence without the payment of duty and penalty under section 34, or without the payment of a higher duty and penalty than those paid, it may record a declaration to that effect, and determine the amount of duty with which such instrument is chargeable, and may require any person in whose possession or power such instrument then is, to produce the same, and may impound the same when produced.

(3)When any declaration has been recorded under sub-section (2), the Court recording the same shall send a copy thereof to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] and, where the instrument to which it relates has been impounded or is otherwise in the possession of such Court, shall also send him such instrument.

(4)The [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] may thereupon, notwithstanding anything contained in the order admitting such instrument in evidence, or in any certificate granted under section 41, or in section 42, prosecute any person for any offence against the stamp-law which the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] considers him to have committed in respect of such instrument:Provided that,-

(a)no such prosecution shall be instituted where the amount (including duty and penalty) which, according to the determination of such Court, was payable in respect of the instrument under section 34, is paid to the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] unless he thinks that the offence was committed with an intention of evading payment of the proper duty;

(b)except for the purpose of such prosecution, no declaration made under this section shall affect the validity of any order admitting any instrument in evidence, or of any certificate granted under section 41.

Chapter VII
Criminal Offences and Procedure

59. Penalty for executing, etc., instrument not duly stamped.

(1)Any person executing or signing otherwise than as a witness any instrument chargeable with duty, without the same being duly stamped shall for every such offence [be punishable with imprisonment for a term which shall not be less than one month but which may extend to six months or with fine which may extend to five thousand rupees or with both] [Substituted by Act 24 of 1999 w.e.f. 18.8.1999]:Provided that, when any penalty has been paid in respect of any instrument under section 34, section 39 or section 58, the amount of such penalty shall be allowed in reduction of the fine (if any) subsequently imposed under this section in respect of the same instrument upon the person who paid such penalty.

(2)If a share-warrant is issued without being duly stamped, the company issuing the same, and also every person who, at the time when it is issued, is the managing director or secretary or other principal officer of the company, shall be punishable with fine which may extend to five hundred rupees.

59A. [ Penalty for making false declaration in clearance list. [Sections 59A and 59B inserted by Act 24 of 1999 w.e.f. 18.8.1999]

- Any person who in a clearance list makes a declaration which is false or which he either knows or believes to be false where it results in loss of stamp duty to the State Government shall, on conviction be punishable with imprisonment for a term which shall not be less than one month but which may extend to six months and with fine which may extend to five thousand rupees.

59B. Penalty for failure to produce documents.

- Any person who,-

(i)fails to produce any register, book, record, paper, application, document, instrument or proceedings for inspection, or

(ii)prevents or obstructs the inspection, entry, search or seizure by an officer, empowered under this Act,

shall on conviction, be punishable with imprisonment for a term which shall not be less than one month but which may extend to six months or with fine which may extend to five thousand rupees or with both.]

60.

[X X X] [Omitted by Act 1 of 2008 w.e.f. 1.4.2003]

61. Penalty for omission to comply with provisions of section 28.

- Any person who, with intent to defraud the Government,-

(a)executes any instrument in which all the facts and circumstances required by section 28 to be set forth in such instrument are not fully and truly set forth; or

(b)being employed or concerned in or about the preparation of any instrument, neglects or omits fully and truly to set forth therein all such facts and circumstances; or

(c)[ makes any false statement or does any other act calculated to deprive the Government of any duty or penalty under this Act,] [Substituted by Act 24 of 1999 w.e.f. 18.8.1999] shall be punishable with fine which may extend to [five times the amount of the deficient duty thereof] [Substituted by Act 24 of 1999 w.e.f. 18.8.1999].

62. Penalty for devices to defraud the revenue.

- Any person who with intent to defraud the Government of duty, practices or is concerned in any act, contrivance or device not specially punishable under this Act or any other law for the time being in force shall be punishable with fine which may extend to one thousand rupees.

63. [ Penalty for franking, recording certificate or embossing contrary to the Act or the rules. [Substituted by Act 1 of 2008 w.e.f. 1.4.2003]

- Any person who is authorized to frank or record the certificate of stamp or emboss the duty acts in contravention of the Act or the rules made thereunder shall, on conviction, be punishable with imprisonment for a term which shall not be less than one month but which may extend to six months or with fine which may extend to five thousand rupees or with both.]

63A. [ Penalty for contravention of other provisions. [Inserted by Act 17 of 1966 w.e.f. 15.11.1966]

- Any person who willfully acts in contravention of any of the provisions of this Act in respect of which no other provision has been made in this Chapter, shall be punishable with imprisonment which may extend to six months, or with fine which may extend to five hundred rupees, or with both.]

64. Institution and conduct of prosecutions.

(1)No prosecution in respect of any offence punishable under this Act or any enactment hereby repealed, shall be instituted without the sanction of the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] or such other officer as the Government generally, or the [Deputy Commissioner] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] specially, authorizes in that behalf.

(2)The Chief Controlling Revenue Authority, or any officer generally or specially authorized by it in this behalf, may stay any such prosecution or compound any such offence.

(3)The amount of any such composition shall be recoverable in the manner provided by section 46.

65. Jurisdiction of Magistrates.

- No Magistrate other than a Magistrate whose powers are not less than those of a Magistrate of the second class, shall try any offence under this Act.

66. [ Place of trial. [Substituted by Act 24 of 1999 w.e.f 18.8.1999]

- Every offence under this Act committed in respect of any instrument may be tried in any district or metropolitan area in which such instrument is executed or found or where such offence is triable under the Code of Criminal Procedure, 1973.]

Chapter VIII
Supplemental Provisions

67. [ Books, etc., to be open to inspection. [Substituted by Act 24 of 1999 w.e.f 18.8.1999]

- A Deputy Commissioner or an Assistant Commissioner or any officer not below the rank of a Sub-registrar authorized by the Deputy Commissioner or Chief Controlling Revenue Authority in this behalf may for the purpose of this Act require every public officer or any person to produce or permit at all reasonable time inspection of such registers, books, records, papers, documents, information in electronic storage and retrieval device or medium, applications, instrument or proceedings the inspection whereof may tend to secure any duty or to prove or lead to the discovery of any fraud or omission in relation to any duty and take such notes and extracts as he may deem necessary without fee or charge and may if necessary seize them and impound them under section 33.]

67A. [ Procedure of Chief Controlling Revenue Authority and the Deputy Commissioner and rectification of mistakes. [Inserted by Act 29 of 1962 w.e.f. 1.10.1962]

(1)No order relating to the proper stamp duty payable under this Act shall be made by the Chief Controlling Revenue Authority or the Deputy Commissioner to the prejudice of any person liable to pay such duty, unless a reasonable opportunity to be heard is given to such person.

(2)The State Government, the Chief Controlling Revenue Authority or the Deputy Commissioner may suo motu or on application of any party affected at any time within three years from the date of any order passed by it or him review such order and rectify any mistake, or error apparent from the record:Provided that no such rectification shall be made to the prejudice of any person unless a reasonable opportunity to be heard is given to such person.]

67B. [ Power to enter premises and inspect certain documents. [Inserted by Act 17 of 1966 w.e.f. 15.11.1966 & substituted by Act 24 of 1999 w.e.f. 18.8.1999]

(1)Where the Deputy Commissioner or an Assistant Commissioner or any officer not below the rank of Sub-registrar authorized by the Deputy Commissioner or Chief Controlling Revenue Authority has reason to believe that any of the instruments specified in the schedule has not been charged at all or incorrectly charged with duty leviable under this Act or the Indian Stamp Act, 1899 in so far it is applicable to the State of Karnataka, he shall have power to enter and search any premises where he has reason to believe that any register, book, record paper, application, information in electronic storage and retrieval device or medium, instrument or proceedings are kept and to inspect them and to take such notes and extracts as he may deem necessary. Every person having in his custody or is maintaining such register, book, record, paper, application, instrument or proceedings shall at all reasonable times produce, or permit the Deputy Commissioner, Assistant Commissioner or such officer to inspect them and to take notes and extracts as he may deem necessary and if necessary seize and impound them under section 33:Provided that no residential accommodation (not being a place of business-cumresidence) shall be so entered into and searched except on the authority of a search warrant issued by a Magistrate having jurisdiction over the area; and all searches under this section shall, so far as may be made in accordance with the provisions of the Code of Criminal Procedure, 1973 (Central Act 2 of 1974).

(2)If upon such inspection, the Deputy Commissioner, Assistant Commissioner or the officer so authorized is of opinion that any instrument chargeable with duty and is not duly stamped he shall require the person liable to pay the proper duty or the amount required to make up the same and also penalty, not exceeding five times the amount of the deficient duty thereof if any leviable, and in case of default the amount of duty and penalty shall be recovered in accordance with provisions of section 46:Provided that before taking any action under this sub-section, a reasonable opportunity of being heard shall be given to the person likely to affected thereby.]

68. Powers to make rules.

(1)The State Government may by notification in the official Gazette, make rules to carry out generally the purposes of this Act.

(2)In particular and without prejudice to the generality of the foregoing power such rules may be made for regulating,-

(a)the supply and sale of stamps and stamped papers,

(b)the persons by whom alone such sale is to be conducted,

(c)the duties and remuneration of such persons, [x x x] [Omitted by Act 12 of 1975 w.e.f. 1.5.1975]

(d)the fines which shall in no case exceed five hundred rupees, to be incurred on breach of any rule:

(e)[ the manner of holding inquiry under section [45A(2) and (3)] [Inserted by Act 12 of 1975 w.e.f. 1.5.1975]; and

(f)the time within which an appeal shall be preferred and the manner in which such appeal shall be heard and disposed of by the [Deputy Inspector General of Registration of the Department of Registration and Stamps.] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]]

(g)[ regulating the Constitution of Central Valuation Committee and other subcommittees in the sub-districts and districts and procedure for the estimation, publication and revision of market value guidelines of properties under section 45- B] [Inserted by Act 8 of 2003 w.e.f. 1.4.2003]

Provided that such rules shall not restrict the sale of [fifteen naye paise, ten naye paise or five naye paise] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962] adhesive stamps.

(3)[ Every rule made under this section shall be laid as soon as may be after it is made before each House of the State Legislature while it is in session for a total period of thirty days which may be comprised in one session or in two successive sessions, and if before the expiry of the session in which it is so laid or the session immediately following both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.] [Substituted by Act 29 of 1962 w.e.f. 1.10.1962]

69. Saving as to Court Fees.

- Nothing contained in this Act shall be deemed to affect the duties chargeable under any enactment for the time being in force relating to Court-fees.

70. Act to be translated and sold cheaply.

- The State Government shall make provision for the sale of a translation of this Act in Kannada and other regional languages [at such price as the State Government may from time to time fix, per copy] [Substituted by Act 12 of 1975 w.e.f. 1.5.1975].

71. Repeal and savings.

- The Mysore Stamp Act, 1900 (Mysore Act II of 1900), as in force in the Mysore Area and the Hyderabad Stamp Act, 1331 F (Hyderabad Act IV of 1331 Fasli), as in force in the [Gulbarga Area] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] are hereby repealed:Provided that such repeal shall not affect,-

(a)the previous operation of the said enactments or anything duly done or suffered thereunder;

(b)any right, privilege, obligation or liability acquired, accrued, or incurred under the said enactments;

(c)any penalty, forfeiture or punishment incurred in respect of any offence committed against the said enactments; or

(d)any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, forfeiture or punishment as aforesaid and any such investigation, legal proceeding or remedy may be instituted, continued or enforced, and any such penalty, forfeiture or punishment may be imposed as if this Act had not been passed.

72. Application of Indian Stamp Act, 1899.

(1)The Indian Stamp Act, 1899 (Central Act II of 1899), as in force in the [Mangalore and Kollegal Area,] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] shall, notwithstanding anything contained in any law, extend to the whole of the [State of Karnataka] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973], and shall remain in force in so far such Act relates to the matter specified in entry 44 of List III of the Seventh Schedule to the Constitution in respect of documents specified in entry 91 of List I of the said Schedule.

(2)Save as provided in sub-section (1), the Indian Stamp Act 1899 (Central Act II of 1899), as in force in the 1[Belgaum Area]1, Coorg District and the [Mangalore and Kollegal Area,] [Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 1.11.1973] in so far as it relates to the matter specified in entry 44 of List III of the Seventh Schedule to the Constitution, in respect of documents falling under entry 63 of List II of the said Schedule, is hereby repealed:Provided that such repeal shall not affect,-

(a)the previous operation of the said enactments or anything duly done or suffered thereunder;

(b)any right, privilege, obligation or liability acquired, accrued or incurred under the said enactments;

(c)any penalty, forfeiture or punishment incurred in respect of any offence committed against the said enactments; or

(d)any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, forfeiture or punishment as aforesaid and any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if this Act had not been passed.

[Schedule] [Whole schedule has been Substituted by Act 21 of 1979 w.e.f. 31.3.1979]Stamp Duty on Instruments

Article No.	Description of Instrument	Proper stamp-duty
1	2	3
	1. [ Acknowledgment of,- [Substituted by Act 8 of 1995 w.e.f. 1.4.1995](i) a debt written or signedby or on behalf of, a debtor in order to supply evidence of suchdebt in any book (other than a Banker's pass book) or on aseparate piece of paper when such book or paper is left in thecreditors' possession and the amount or value of such debt,-
	(a) exceeds rupees 100 but does not exceed rupees[5,000.] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]	[Two rupee.] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]
	(b) [ When exceeds Rs. 5,000/-. [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]	Two rupees plus rupees two for every thousand or partthereof][Subject to a maximum of rupees one thousand] [Inserted by Act 6 of 2001 w.e.f. 1.4.2001]
	(ii) a letter, article, document, parcel, package, orconsignment, of any nature or description, whatsoever or bywhatever name called, given by a person, courier company, firm,or body of persons whether incorporated or unincorporated to thesender of such letter, articles, document, parcel, package orconsignment.	One rupee for every rupees one hundred or part thereof of theamount charged therefor]
	2. Administration Bond,-including a bond given undersection 6 of the Government Savings Banks Act, 1873 (Central ActV of 1873) or section 289, 291, 375 or 376 of the IndianSuccession Act, 1925 (Central Act XXXIX of 1925)-
	(a) where the amount does not exceed Rs. 1,000.	The same duty as a Bond (No. 12) for such amount.
	(b) in any other case	[One hundred rupees] [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]
	3. Adoption deed,-that is to say, any instrument(other than a will), recording an adoption, or conferring orpurporting to confer an authority to adopt.	[Five hundred rupees] [Substituted by Act 8 of 20030 w.e.f. 1.4.2003]
	Advocate,-See Certificate of enrollment as anAdvocate (No. 17).
	4. Affidavit,-including an affirmation or declarationin the case of persons by law allowed to affirm or declareinstead of swearing.	[Twenty rupees] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]

EXEMPTIONS
Affidavit or declaration in writing when made,—
(a) as a condition of enlistment to the Armed Forces of theUnion;
(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 enabling
any person to receive any pension or
charitable allowance.
5. Agreement or[its records or] [Inserted by Act 8 of 1995 w.e.f. 1.4.1995]Memorandum of anAgreement,—
(a) [ if relating to the sale of a bill of exchange. [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]	One rupee for every rupees ten thousand or part thereof.
(b) if relating to the purchase or sale of a Governmentsecurity.	One rupee for every rupees ten thousand or part thereof ofthe value of the security at the time of its purchase or sale, asthe case may be, subject to a maximum of rupees one thousand.
(c) If relating to the purchase or sale of shares, scripts,stocks, bonds, debentures, debenture stocks or any othermarketable security of a like nature in or of any in-corporatedcompany or other body corporate,-
(i) when such agreement or memorandum or an agreement is withor through a member or between members of Stock Exchangerecognised under the Security Contracts (Regulation) Act, 1956(XLII of 1956)	One rupee for every rupees ten thousand or part thereof of thevalue of the security at the time of its purchase or sale as thecase may be
(ii) In any other case	One rupee for every rupees ten thousand or part thereof of thevalue of the security at the time of its purchase or sale as thecase may be.]
(d) [ if relating to a transaction of (20) lease-cum-sale inconnection with the allotment of a building site, with or with-out building thereon, effected by the Bangalore Development andthe amount Authority constituted under the Bangalore DevelopmentAuthority Act, 1976 (Karna- taka Act 12 of 1976), the CityImprovement Trust Board, Mysore constituted under the City ofMysore Improvement Act, 1903 (Mysore Act III of 1903), theKarnataka Housing Board constituted under the Karnataka HousingBoard Act, 1962, (Karnataka Act 10 of 1963), the Improve-mentBoards constituted under the Karnataka Improvement Boards Act,1976 (Karnataka Act 11 of 1976)[,House Building Co-operativeSocieties registered under the Karnataka Co-operative SocietiesAct, 1959 (Karnataka Act 11 of 1959)] [Inserted by Act 16 of 1981 w.e.f. 10.9.1980][,or the allotment of industrial sheds and plots by theKarnataka Industrial Areas Development Board established underthe Karnataka Industrial Area Development Act, 1966 (KarnatakaAct 18 of 1966), the Karnataka Small Scale Industrial DevelopmentCorporation, the Karnataka State Industrial Investment andDevelopment Corporation and the Karnataka State ElectronicsDevelopment Corporation, registered as a company under theCompanies Act, 1956 (Central Act 1 of 1956), or the allotment ofland or site with or without building to the market functionariesin the yard by the Agricultural Produce Market Committeesconstituted under the Karnataka Agricultural Produce Marketing(Regulation) Act, 1966 (Karnataka Act 27 of 1966)] [Inserted by Act 22 of 1997 w.e.f. 29.9.1997][,MunicipalCorporation constituted under the Karnataka MunicipalCorporations Act, 1976, (Karnataka Act 24 of 1978), MunicipalCouncils or Town Panchayats constituted under the KarnatakaMunicipalities Act, 1964 (Karnataka Act 22 of 1964), UrbanDevelopment Authorities Constituted under the Karnataka UrbanDevelopment Authorities Act, 1987 (Karnataka Act 34 of 1987),Grama Panchayats, Taluk Panchayats and Zilla Panchayatsconstituted under the Karnataka Panchayat Raj Act, 1993(Karnataka Act 14 of 1993)] [Inserted by Act 6 of 1999 w.e.f. 1.4.1999]and such other authorities as may bespecified by the Government.	The same duty as a conveyance for a market value equal to thesecurity deposit and the amount of average annual rent reservedunder such agreement]
(da) [ Where any instrument of lease-cum-sale effected by theBangalore Development Authority constituted under the BangaloreDevelopment Authority Act, 1976 (Karnataka Act 12 of 1976), theKarnataka Housing Board constituted under the Karnataka HousingBoard Act, 1962 (Karnataka Act 10 of 1963) pertaining to premisesof a Flat or Apartments. [Inserted by Act 6 of 1999 w.e.f. 1.4.1999]	The duty payable shall be as a conveyance [No. 20(3)] for themarket value equal to the security deposit and the amount ofaverage annual rent reserved under such agreement.]
[e) If relating to sale. of immovable property wherein partperformance of the contract,- [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]
(i) possession of the property is delivered or is agreed tobe delivered	Same duty as a conveyance (No. 20)on the market value of theproperty.
[before] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]executing the conveyance;	[[provided that the duty paid on power of attorneyunder Articles 41(e) or 41(eb), as the case may be, is adjustabletowards the duty payable on agreement for sale under Article 5(e)or instrument of sale or transfer, as the case may be, executedbetween the same parties and in respect of the same property] [Substituted by Act 19 of 2014 w.e.f 1.03.2014]]
(ii) [ possession of the property is not delivered [Substituted by Act 16 of 2011 w.e.f.1.4.2011]	Ten paise for every one hundred rupees or part thereof on themarket value equal to the amount of consideration subject to amaximum of rupees twenty thousand but not less than rupees fivehundred
	Provided that if the proper stamp duty is paid on power ofattorney under Article 41(e) or 41 (eb) as the case may, beexecuted between the same parties in respect of the sameproperty, then the stamp duty chargeable on such agreement underArticle 5(e) shall not exceed rupees two hundred.]
Explanation-I,-When a reference, of a Power ofAttorney granted separately by the seller to the purchaser inrespect of the property which is the subject matter of suchagreement, is made in the agreement, then the possession of theproperty is deemed to have been delivered for the purpose of thisclause.
Explanation-II,-For the purpose of clause (e) andclause (h) where subsequently conveyance or mortgage as the casemay be, is executed between the same parties in pursuance of suchagreement or its records or memorandum, the stamp duty, if any,already paid and recovered on the agreement or its record ormemorandum shall be adjusted towards the total duty leviable onthe conveyance or mortgage, as the case may be
(b) Where such agreement or memorandum of an agreement doesnot relate to monetary transactions or transactions notsusceptible to valuation in terms of money	Fifty rupees
(f) [ XXX] [Omitted by Act 16 of 2011 w.e.f.1.4.2011]

(f) [ If relating to construction or development ofimmovable property, including a multi unit or multi storied houseor building or apartment or flat, or portion of it, executed byand between owner or lessee, as the case may be, and developer,having a stipulation, whether express or implied, that, inconsideration of the owner or lessee conveying or transferring ordisposing off, in any way, the undivided share or portion of landor immovable property; the developer agrees to convey or transferor dispose off, in any way, the proportionate or agreed share orportion of the constructed or developed building or immovableproperty to the owner or lessee, as the case may be. higher: [Substituted by Act 19 of 2014 w.e.f 1.03.2014]	Two Rupees for every one hundred rupees or part thereof, onthe Market Value of such undivided share or portion of land orimmovable property, consideration and money advanced, if any; or
	On the Market Value of such share or portion of theconstructed or developed building or immovable property,consideration and money advanced, if any; Whichever is higher :
	Provided that, if the proper stamp duty is paid under clause(ea) of the Article 41 on power of Attorney, executed by andbetween the same parties and in respect of the same property,then the stamp duty payable on the corresponding agreement underclause (f) of article 5, shall not exceed rupees two hundred."
Explanation: The term "Developer" includes promoteror builder or by whatever name called.	Explanation: The term "money advanced" in thisArticle, means and includes the security deposit whetherrefundable or adjustable.]

(g)[ if relating to sale of movable property,-

(i) possession of the property is delivered or is agreed to bedelivered without executing the conveyance	[Three per cent] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]of the consideration or market value ofthe property, whichever is higher:
	Provided that, where a deed of cancellation of earlieragreement is executed by and between the same parties in respectof the same property and if proper stamp duty has been paid onsuch agreement, the duty on such "deed of cancellation"shall not exceed rupees five hundred.
(ii) possession of the property is not delivered	Ten paise for every one hundred rupees or part thereof on themarket value equal to the amount of consideration subject to amaximum of rupees twenty thousand but not less than rupees fivehundred".]

(h) If relating to the mortgage

Same duty as under article 34 (a) or (b) as the case may be.

(i) [ if relating to contract between Depository Participant(as defined in “The Depository Act, 1996”) andclient, for opening de-mat account [Inserted by Act 8 of 2010 w.e.f.1.4.2010]	Rupees fifty
(ia) if relating to contract between stock broker or subbroker(agent) and client(principal), for Stock Market operations	Rupees fifty]

(ib) [ If relating to advertisement or telecasting orbroadcasting of programs for promotion and development ofbusiness [Inserted by Act 15 of 2012 w.e.f. 1.4.2012]	One Rupee for every one thousand rupees or part there of onthe amount or consideration in the
agreement, but not less
than Rupees two hundred.
(ic) If relating to assignment or transfer of intellectualproperty rights (i.e., patent rights, copy rights or trade marksrights.)	One Rupee for every one thousand rupees or part there of onthe amount or consideration in the agreement, but not less thanRupees two hundred.
(id) If relating to building Works or labour or services(works contracts)
(i) Where the amount or consideration in the agreement doesnot exceed Rupees ten lakhs	Rupees one hundred
(ii) where the amount or consideration in the agreementexceeds Rupees ten lakhs	Rupees One hundred and in addition Rupees One hundred forevery Rupees ten lakhs or part thereof in excess of Rupees tenlakhs, subject to a maximum of Rupees five lakhs.]

(j) [] [renumbered by Act 8 of 2010 w.e.f.1.4.2010]If not otherwise provided for	[two hundred rupees] [Substituted by Act 9 of 2009 w.e.f.1.4.2009]
Explanation:[(I) x x x] [Omitted by Act 5 of 1998 w.e.f. 1.4.1998]
(II) For the purpose of[sub-clause (i) and (ii)] [Substituted by Act 7 of 2007 w.e.f. 1.4.2007]ofclause (e) and clause (h), where subsequently conveyance ormortgage as the case may be, is executed in pursuance of suchagreement or its records or memorandum the stamp duty, if any,already paid and recovered on the agreement or its record ormemorandum shall be adjusted towards the total duty leviable onthe conveyance or mortgage, as the case may be.]
EXEMPTIONS
Agreement or memorandum of Agreement,-
(a) for or relating to the purchase or sale of goods, ormerchandise exclusively, not being a note or memorandumchargeable under Article 37.
(b) made in the form of tenders to the Central Government, foror relating to any loan.
6. Agreement relating to deposit of title deeds,[pawnor pledge] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999],- that is to say, any instrument evidencing anagreement relating to,—
(1) [ the deposit of title deeds or instruments constitutingor being evidence of the title to any property whatever (otherthan a marketable security), where such deposit, has been made byway of security for the repayment of money advanced or to beadvanced by way of loan or an existing or future debt; [Substituted by Act 16 of 2015 w.e.f. 01.04.2015]

If such loan or debt is repayable on demand from the date ofinstrument evidencing the agreement,-
(i) where the loan or debt amount does not exceed rupees tenlakhs	0.1 percent on the loan or debt amount subject to a minimum ofrupees five hundred
(ii) where the loan or debt amount exceeds rupees ten lakhs	0.2 percent on the loan or debt amount subject to a maximum ofrupees ten lakhs." ]

[Explanation.- For the purpose of clause (1), notwithstanding anything contained [in any law for the time being in force or] [Substituted by Act 16 of 2015 w.e.f. 01.04.2015] order of any authority, any letter, note memorandum or writing relating to the deposit of title deeds whether written or made either before or at the time when or after the deposit of title deeds is effected, and whether it is in respect of the security for the first loan or any additional loan or loans taken subsequently, such letter, note, memorandum or writing shall, in the absence of any separate agreement or memorandum of agreement relating to deposit of such title deeds, be deemed to be an instrument evidencing an agreement relating to the deposit of title deeds.][ [(2) the pawn or pledge of movable property, where such pawn or pledge has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt.

If such loan or debt is repayable on demand or otherwise,-
(i) where the loan amount exceeds rupees one lakh but does notexceed rupees ten lakhs	0.1 percent on the loan or debt amount
(ii) where the loan amount exceeds rupees ten lakhs	0.2 percent on the loan or debt amount subject to a maximum ofrupees ten lakhs." ]
Exemption: Instruments of pawn or pledge of goods or jewelswherein such loan or debt is upto Rupees one lakh”.	Provided that where a fresh instrument of pawn or pledge ofmovable property is executed for securing repayment of moneyalready advanced by way of loan between the same parties and forthe same purpose and for the same amount and the duty in respectof earlier instrument has been paid, then the duty chargeable onsuch fresh instrument is chargeable as per clause (j) of Article5 of this Schedule.]

7. Appointment in execution of a power,-whether oftrustees or of property, movable or immovable, where made by anywriting not being a will.	[One thousand rupees] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]
8. Appraisement or valuation,-made otherwise thanunder an order of the Court in the course of a suit,—
(a) where the amount does not exceed Rs. 1,000	The same duty as a Bond (No. 12) for such amount
(b) in any other case	[One hundred rupees]
EXEMPTIONS
(a) Appraisement or valuation made for the information of oneparty only, and not being in any manner obligatory betweenparties either by agreement or operation of law.
(b) Appraisement of crops for the purpose of ascertaining theamount to be given to a landlord as rent.
9. Apprenticeship-deed,-including every writingrelating to the service or tuition of any apprentice, clerk orservant placed with any master to learn any pro fession, trade oremployment	[[rupees one hundred] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]]
Exemption.- Instruments of apprenticeship, by which aperson is apprenticed by, or at the charge, of any public charity

10. [ [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]	Articles of Association of a Company,- where the company hasno share capital or nominal share capital or increased sharecapital.	[[rupees one thousand for every rupees ten lakhs or partthereof subject to a maximum of rupees fifty lakhs] [Substituted by Act 6 of 2001 w.e.f. 1.4.2001]]
	Exemption:—Articles of any association notformed for profit and registered under section25 of the CompaniesAct, 1956.

See also Memorandum of Association of a Company (No. 33)
Assignment: See Conveyance (No. 20), Transfer (No. 52) andTransfer of lease (No. 53), as the case may be.
Authority to Adopt:—See Adoption deed (No. 3)]

[[11. Award,- [Substituted by Act 19 of 2014 w.e.f. 1.3.2014]that is to say, any decision inwriting by an arbitrator or umpire, not being an award directingpartition, on a reference made otherwise than by an order of theCo in the course of a suit.
(a) If the property, which is the subject matter of award, isimmovable property.	The same duty as the conveyance [un Article 20(1)] on themarket value of the property, or consideration, whichever ishigher.
(b) If the property, which is the subject matter of award, ismovable property,
(i) Where the amount or market value of the property, as setforth in the award, does not exceed Rupees fifty lakhs.	¾ % of the amount or market value.
(ii) Where the amount or market value of the property exceedsrupees fifty lakhs but does not exceed rupees five Crores.	Rupees thirty seven thousand five hundred plus ½ % ofthe amount or ma value exceeding Rupees fifty lakhs.
(iii) Where the amount or market value of the property exceedsrupees five Crores.	Rupees thirty seven thousand five hundred plus two lakhstwenty five thousand plus ¼ % of the amount or marketvalue exceeding Rupees five crores]]
12. [ Bond,- [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]defined by section 2(1)(a), not beingotherwise provided for by this Act,
or by the Karnataka Court fees and Suits Valuation Act, 1958;
(a) Where the amount or value secured does not exceed Rs. 1000	[fifty paise] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]for every one hundred rupees or partthereof.
(b) Where it exceeds Rs. 1000	The same duty as under Clause (a) for the first one thousandrupees and for
	every five hundred rupees or part thereof in excess of Onethousand rupees:[two rupees and fifty paise] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]
See Administration Bond (No. 2) Bottomary Bond (No. 13),Customs Bond (No. 23) Indemnity Bond (No. 29). Respondentia Bond(No. 46), Security Bond (No. 47)
EXEMPTION:
Bond, when executed by any person for the purpose ofguaranteeing that the local income derived from privatesubscriptions to a charitable dispensary or hospital or any otherobject of public utility shall not be less than a specified sumper
mensem.]
13. Bottomry Bond,-that is to say, any instrumentwhere by the master of a sea- going ship borrows money on thesecurity
of the ship to enable him to preserve the ship or prosecuteher voyage.	The same duty as Bond (No. 12) for such amount.
[14 Cancellation of instruments.- [Substituted by Act 7 of 2006 w.e.f. 1.4.2006]
(a) Cancellation of any instrument previously executed onwhich stamp duty has been paid as per any article of the[Schedule and not otherwise specifically provided for by theSchedule.] [Substituted by Act 7 of 2007 w.e.f. 1.4.2007]	[same duty as on the original instrument if suchcancellation has the effect of reconveyance of property alreadyconveyed by the original instrument: cancellation.] [Substituted by Act 8 of 2010 w.e.f.1.4.2010]
	Provided that, if the original instrument is a conveyance onsale, then the stamp duty payable on such cancellation instrumentis, as per article 20(1), on the market value of the property ason the date of execution of such
(b) Cancellation of any instrument executed by or on behalf ofthe Central Government or a Local Authority or other Authorityconstituted by or under any law for the time being in force or abody corporate wholly owned or controlled by the CentralGovernment or the State Government.	one hundred rupees
(c) in any other case	one hundred rupees”
[See also agreement or its records or Memorandum of anAgreement No.(5)(e) (i)] [Substituted by Act 8 of 2010 w.e.f.1.4.2010]Release (No.45) Revocation ofSettlement (No.48-B), Surrender of Lease (No.51)[XXX] [Omitted by Act 16 of 2011 w.e.f.1.4.2011]
Explanation.-If the original instrument has beensubjected to determination of the market value under section 45-Aof the Act, stamp duty on the cancellation of such instrumentshall be the same as determined under section 45-A of the Act. ]
15. Certificate of sale—(in respect of eachproperty put up as a separate lot and sold) granted to thepurchaser of any property sold by public auction by a Court orTribunal or officer of Government or by any other authority underany enactment.
(a) where the purchase money does not exceed Rs. 10	One rupee
(b) where the purchase money exceeds Rs. 10 but does notexceed Rs. 25.	One rupee and fifty paise
(c)in any other case	The same duty as a conveyance (No. 20) for a market valueequal to the amount of the purchase money only.
16. [ Certificate or other document,- [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]evidencing theright or title of the holder thereof, or any other person eitherto any share, scrip or stock in or of any incorporated company orother body corporate, or to become proprietor of share scrip orstock in or of any such company or body. See also letter ofAllotment of Shares (No. 31)	One rupee for every one thousand rupees or a part thereof ofthe value value of the shares, scrip or stock.
Explanation:
For the purpose of this Article, the value of the share,scrip, or stock includes the amount of premium, if any]
17. Certificate of enrollment,-in the roll of Advocatesprepared and maintained by the State Bar Council under theAdvocates Act, 1961 (Central Act 25 of 1961)	[Five hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
18. Charter-partythat is to say any instrument (exceptan agreement for the hire of a tug-steamer) whereby a vessel orsome specified principal part thereof is let for the specifiedpurposes of the charter, whether it includes a penalty clause ornot.	[[rupees one hundred] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]]
18A. [ Clearance list,- [Inserted by Act 8 of 1995 w.e.f. 1.4.1995](1) relating to thetransactions for the purchase or sale of Government securitiessubmitted to the clearing house of a stock exchange	The sum of duties chargeable under article 5(b) or Article asthe case may be in respect of each of the entries in such list onthe value of the securities calculated at the making up price orthe contract price as the case may be.
(2) relating to the transactions for the purchase or sale ofa share, scrip, stock, bond, debenture, debenture stock or othermarketable security of a like nature in or of any incorporatecompany or other body corporate submitted to the clearing houseof a stock exchange recognised under the Securities Contracts(Regulation) Act, 1956.	The sum of duties chargeable under Article 5(c)(i) or 37(b),as the case may be in respect of each of the entries in such liston the value of the securities calculated at the making up priceor the contract price, as the case may be.
(3) relating to the transactions for the purchase or sale ofa share, script, stock , bond, debenture, debenture stock orother marketable security, of a like nature in or of anyincorporated company or body corporate, submitted to theclear-nance house of a stock Exchange, not re- recognised underthe Securities Contract (Regulation) Act, 1956.	The sum of duties chargeable under Article 5(c) (i) or 37(b),as the case may be, in respect of each of the entries in suchlist on the value of the securities calculated at the making upprice or the contract price, as the case may be.]
19. Composition-deed,-that is to say, any instrumentexecuted by a debtor, where by he conveys his property, for thebenefit of his creditors, or whereby payment of a composition ordividend on their debts is secured to the creditors or wherebyprovision is made for the continuance of the debtors’business, under the supervision of inspectors or under letters oflicence, for the benefit of his creditors.	[[two hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]]
[20 (1) For Conveyance.- [Substituted by Act 7 of 2006 w.e.f.1.4.2006]as defined by clause (d) ofsection 2, not being a transfer charged or exempted under No.52,on the market value of the property which is the subject matterof conveyance	[five percent of the value] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]]
[X X X ] [Deemed to have been omitted by Act 20 of 2009 w.e.f.04.06.2009]
4 [(2) Where it relates to[instrument] [Substituted by Act 8 of 2010 w.e.f. 1.4.2010]of conveyanceexecuted by a promoter, a land owner, or a developer by whatevername called, pertaining to premises of ‘Flat’ asdefined in clause (a) of section 2 of the Karnataka OwnershipFlats (Regulation of the Promotion of Construction, Sale,Management and Transfer) Act, 1972 (Karnataka Act 16 of 1973) or‘Apartment’ as defined in clause (a) of section 3 ofthe Karnataka Apartment Ownership Act, 1972 (Karnataka Act 17 of1973) or transfer of share by or in favour of Co-operativeSociety or Company pertaining to premises or Unit and the marketvalue of the property which is the subject matter of conveyance.	the same duty as a conveyance under Article 20(1)[on themarket value equal to the market value of the fully constructedflat or apartment or unit, irrespective of the stage ofconstruction, deeming it as fully constructed] [Inserted by Act 8 of 2010 w.e.f. 1.4.2010]
Explanation:—
(a) “Premises” means and includes undividedinterest in the land, building and proportionate share in thecommon areas:
(b) “Unit” includes flat, apartment, tenement,block or any other unit by whatever name called, constructed orunder construction in accordance with the sanctioned plan by theauthority competent to sanction a building plan under any law forthe time being in force:
(c)[xxx] [Omitted by Act 8 of 2010 w.e.f.1.4.2010]
(3) [ Where any instrument of conveyance rates [Deemed to have been substituted by Act 20 of 2009 w.e.f.04.06.2009]	The duty shall be payable at the
is effected by the Bangalore Development Authority constitutedunder Bangalore Development Authority act, 1976 (Karnataka Act 12of 1976), the Karnataka Housing Board constituted under theKarnataka Housing Board Act, 1962 (Karnataka Act 10 of 1363pertaining to premises of Flat or Apartment.	specified under clause (2) of Article 20 on the amount orvalue of consideration as set forth in the instrument:
	Provided that in any case where a lease-cum-sale Agreement isexecuted and is stamped with the advalorem duty required for suchagreement under item (da) of Article 5 and in furtherance of suchagreement a conveyance is subsequently executed rupees fifty orthe difference of the duty payable on such conveyance and theduty already collected on the security deposit under item (da) ofArticle 5, whichever is greater.
(4) If relating to an order made by the High Court[“orappropriate Tribunals or appropriate Authorities under theCompanies Act, 2013”] [Substituted by Act 17 of 2017 w.e.f.01.04.2017], in respect of;	[[[Three per cent] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]] on the marketvalue of the property of the transferor company, locatedwithin the State of Karnataka and transferred to the transfereecompany; or
(i) Amalgamation of Companies, including a subsidiaryamalgamating with parent company	An amount equal to[one percent] [Substituted by Act 16 of 2011 w.e.f.1.4.2011]of the aggregate valueof shares issued or allotted in exchange, or otherwise and incase of a subsidiary company, shares merged (or cancelled) withparent company and in addition, the amount of consideration ifany, paid for such amalgamation;
	-which ever is higher.
(ii) Reconstruction or Demerger of a company	[[[Three per cent] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]] on the marketvalue of the property] of the transferor company, locatedwithin the State of Karnataka, and transferred to the resultingcompany; or An amount equal to[one percent] [Substituted by Act 16 of 2011 w.e.f.1.4.2011]of theaggregate value of shares issued or allotted to the resultingcompany and in addition, the amount of consideration if any, paidfor such demerger or reconstruction;
	-whichever is higher.]
	[Explanation:- The term, “aggregate value of shares”for the purpose of Article 20(4) means, the face value of sharesor its market value, whichever is higher.] [Inserted by Act 16 of 2011 w.e.f.1.4.2011]
[Exemption:- Amalgamation of sick companies with others,under the orders of Board of Industrial Finance andReconstruction (BIFR)] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
(5) [ Conveyance relating to industrial machinery,- [Substituted by Act 16 of 2015 w.e.f. 01.04.2015]

(i) when industrial machinery is treated as movable property	[Three per cent] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]of consideration or market value of theproperty, whichever is higher,
(ii) when industrial machinery is treated as immovableproperty	Five percent of consideration or market value of the property,whichever is higher".]

(6) If relating to assignment of receivables by the originatorto the special purpose vehicle (SPV), or by whatever name theyare called in the process of securitisation[undersecuritisation and reconstruction of Financial Assets andEnforcement of Security Interest Act, 2002] [Inserted by Act 9 of 2009 w.e.f.1.4.2009]	One rupee for every one thousand rupees or part thereofsubject to a maximum of rupees one lakh.]
(7) [ conveyance relating to Transferable Development Rights[Three per cent] [Inserted by Act 8 of 2010 w.e.f. 1.4.2010]on the market value of the TransferableDevelopment Rights equal to the market value of the correspondingportion of the property leading to such Transferable DevelopmentRights, which is the subject matter of conveyance; orconsideration for such conveyance; whichever is higher.]
[Provided that, if the proper duty is paid under clause(ec)of Article 41 on Power of Attorney, executed by and between thesame parties and in respect of the same property, then the dutypayable on the corresponding conveyance under Article 20(7),shall not exceed rupees two hundred.] [Inserted by Act 07 of 2016 w.e.f. 01.04.2016]
21. [ Copy or extract,- [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]certified to be true copy orextract by or by order of any public officer and not chargeableunder the law for the time being in force relating to the Courtfees:
(i) if the original was not chargeable with duty, or if theduty with which it was
chargeable does not exceed five rupees.	Five rupees.
(ii) in any other case	Ten rupees
EXEMPTION:
(a) Copy of any paper which a public officer is expresslyrequired by law to make or furnish for record in any publicoffice or for any public purpose.
(b) Copy of or extract from any register relating to thebirths, baptisms, namings, dedications, marriages, divorces,deaths or burials.]
22. Counterpart or duplicate—of any instruments,chargeable with duty and in respect of which the proper duty hasbeen paid
(a) if the duty with which the original instruments ischargeable does not exceed[five hundred rupees] [Substituted by Act 9 of 2009 w.e.f.1.4.2009]	The same duty as payable on the original.
(b) in any other case	[[five hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]]
EXEMPTION
Counterpart of any lease granted to a cultivator when suchlease is exempted from duty.
23.[customs bond or excise bond] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]
(a) where the amount does not exceed Rs. 1,000.	The same duty as a Bond (No. 12) for such amount
(b) in any other case	[One hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
Declaration of any Trust, see Trust (No. 54).
24. Delivery-orderin respect of Goods, that is to say,any instrument entitling any person, therein named, or hisassignees or the holder thereof to the delivery of any goodslying in any dock or port, in any warehouse in which goods arestored or deposited on rent or hire, or upon any wharf suchinstrument being signed by or on behalf of the owner of suchgoods upon the sale or transfer of the property therein,	[One rupee for every one thousand rupees or part thereof onthe value of such goods] [Inserted by Act, 19 of 2014 w.e.f. 1.03.2014]
	[x x x] [Omitted by Act 7 of 2000 w.e.f. 1.4.2000]
	Rupee one
[XXX] [Omitted by Act 19 of 2014 w.e.f 1.03.2014]	[Rupees five for every rupees one thousand or part thereof] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]
Deposit of title deeds
See Agreement relating to Deposit of Title-deeds, Pawn orpledge (No. 6).
Dissolution of partnership,- See partnership (No. 40)
[Exemption.- [Inserted by Act, 19 of 2014 w.e.f. 1.03.2014]Goods imported which are exempted fromlevy of customs duty by the Government of India]
25. Divorce,-instrument of that is to say, anyinstrument by which any person effects the dissolution of hismarriage.	[One hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
Dower,—Instrument of —See settlement (No.48)
Duplicate,—See Counterpart (No. 22)
26. Exchange of property,—Instrument ofExtract—See Copy (No. 21).	The same duty as a conveyance (No. 20) for a market valueequal to the Market value of the property of greatest value whichis the subject matter of exchange
27. Further charge,—Instrument of— that isto say, any instrument imposing a further charge on mortgagedproperty.
(a) when the original mortgage is one of the descriptionreferred to in clause (a) of article No. 34 (that is, withpossession)	The same duty as a conveyance (No. 20) for a market valueequal to the amount of the further charge secured by suchinstrument.
(b) when such mortgage is one of the description referred toin clause (b) of article No. 34 (that is, without possession)
(i) if at the time of execution of the instrument of furthercharge posses-session of the property is given or agreed to begiven under such instrument.	The same duty as a conveyance (No. 20) for a market valueequal in the total amount of the charge (including the originalmortgage and any further charge already made) less the dutyalready paid on such original mortgage and further charge.
(ii) [ if possession is not given and not being ahypothecation. [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]	[Fifty paise for every one hundred rupees for the amount ofthe further charge secured by such instrument,] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
(iii) for hypothecation	Same duty as sub-clause (d) of Article No. 34 for the amountof the further charge secured by such instrument.]
28. [ Gift-instrument of,- [Substituted by Act 6 of 1999 w.e.f 1.4.1999]not being a settlement (No.48) or will or transfer (No.52)
(a) Where the donee is not a family member of the doner.	The same duty as a Conveyance (Article No. 20) for a marketvalue equal to the market value of the property which is thesubject matter of gift:
	Provided that where an instrument of gift contains anyprovision for the revocation of the gift, the value of theproperty which is the subject matter of the gift, shall for thepurposes of duty be determined as if no such provision werecontained in the instrument.

(b) [ [Substituted by Act 6 of 2001 w.e.f. 1.4.2001]	Where the donee is a member of the family of the donor	(i) [ If the property is situated within the limits ofBangalore Metropolitan Regional Development Authority or BruhatBangalore Mahanagara Palike or City Corporation … Rupeesfive thousand; [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]
		(ii) If the property is situated within the limits of City orTown Municipal Council or Town Panchayat area…Rupees threethousand;
		(iii) If the property is situated within the limits other thanthe limits specified in items (i) and (ii) …... Rupees onethousand;
		Provided that, if the property is situated in any of thecombinations of limits, mentioned in items (i), (ii) and (iii)above the duty payable shall be the maximum of the dutiesspecified in items (i), (ii) and (iii) above.]

Explanation:Family in relation to the donor for thispurpose means[father, mother,] [Inserted by Act 9 of 2009 w.e.f.1.4.2009]husband, wife, son, daughter,[daughter-in-law, brothers, sisters] [Substituted by Act 7 of 2007 w.e.f. 1.4.2007]and grand children]]
29. Indemnity Bond	The same duty as a Security Bond (No. 47) for the same amount.
Inspectorships Deed-See Composition Deed (No. 19)
30.[(1) Lease of immovable property including anunder-lease or sub-lease and any agreement to let or sub-letwhere by such lease, the rent is fixed, or fine or premium ormoney advanced or security deposit (as the case may be) is paidor delivered,- [Substituted by Act 9 of 2009 w.e.f.1.4.2009]
(i) [where the lease purports to be for a term not exceedingone year in case of residential property [Substituted by Act 8 of 2010 w.e.f. 1.4.2010]	fifty paise for every one hundred rupees or part thereof onthe total amount or value of; the average annual rent, premium,fine and money advanced, subject to a maximum of rupees fivehundred
(ii)where the lease purports to be for a term
not exceeding one year in case of commercial
or industrial property	fifty paise for every one hundred rupees or part thereof onthe total amount or value of; the average annual rent, premium,fine and money advanced,
(iii)where the lease purports to be for a term exceeding oneyear and not exceeding ten years	one rupee for every one hundred rupees or part thereof on thetotal amount or value of; the average annual rent, premium, fineand money advanced,
(iv)where the lease purports to be for a term exceeding tenyears and not exceeding twenty years	two rupees for every one hundred rupees or part thereof on thetotal amount or value of; the average annual rent, premium, fineand money advanced,
(v)where the lease purports to be for a term exceeding twentyyears and not exceeding thirty years	three rupees for every one hundred rupees or part thereof onthe total amount or value of; the average annual rent, premium,fine and money advanced,
(vi)where the lease purports to be for a term exceeding thirtyyears or in perpetuity or does not purport to be for any definiteterm	the same duty as conveyance under article 20(1) on the totalamount or value of, average annual rent, fine, premium and moneyadvanced; or on the market value of the property; whichever ishigher.]
	Provided that in any case when an agreement to lease isstamped with the ad valorem stamp required for a lease and alease in pursuance of such agreement is subsequently executed,the duty on such lease shall not exceed rupees fifty:
	Provided further that the duty in respect of an instrument oflease executed in favour of the wife, husband, father, mother,son, daughter, brother or sister in relation to the person shallbe[(i) If the property is situated within the limits ofBangalore Metropolitan Regional Development Authority or BruhatBangalore Mahanagara Palike or City Corporation … Rupeesfive thousand; [Substituted by Act 7 of 2016 w.e.f. 1.4.2016]
	(ii) If the property is situated within the limits of City orTown Municipal Council or Town Panchayat area …Rupeesthree thousand;
	(iii) If the property is situated within the limits other thanthe limits specified in items (i) and (ii) …... Rupees onethousand;
	Provided that, if the property is situated in any of thecombinations of limits, mentioned in items (i), (ii) and (iii)above the duty payable shall be the maximum of the dutiesdescribed in items (i), (ii) and (iii) above.]
	Explanation.- The term “money advanced” in thisArticle means and includes the security deposit whetherrefundable or adjustable towards the rent.]
(2) [ lease of movable property including an under lease orsublease and any agreement to let or sub let,— [Substituted by Act 7 of 2016 w.e.f. 1.4.2016]
(a) where by such lease the rent is fixed and no premium ispaid or delivered,—
(i) where the lease purports to be for a term not exceedingten years	One rupee for every hundred rupees or part thereof on the tenyears aver age annual rent reserved, subject to a maximum ofrupees two lakhs.
(ii) where the lease purports to be for a term exceeding tenyears	One rupee and fifty paise for every hundred rupees or partthereof on the average annual rent reserved, subject to a maximumof rupees two lakhs.
(b) where the lease is granted for every for a fine or premiumor for money advanced and where no rent is reserved	One rupee and fifty paise hundred or part thereof on theamount of such fine or premium or advance as setforth in thelease, subject to a maximum of rupees two lakhs.
(c) where the lease is granted for every for a fine or premiumor for money advanced in addition to rent reserved.	One rupee and fifty paise hundred rupees or part thereof onthe amount of such fine or premium or advance as set forth inthe lease in addition to the duty which would have been payableon such lease, if no fine or premium or advance had been paid ordelivered, subject to a maximum of rupees two lakhs:
	Provided that in respect of lease of industrial machinerythe maximum duty chargeable shall be rupees ten thousand.
	Provided further that in any case when an agreement tolease is stamped with advalorem stamp required for a lease and alease in pursuance of such agreement is subsequently executed,the duty on such lease shall not exceed rupees fifteen.]

[Description of Instrument [Inserted by Act 21 of 2016 w.e.f 22.06.2016]	Proper Stamp Duty
"(3) Notwithstanding anything contained in clause (1) and(2) above, in respect of,-
(a) Mine Development and Production Agreement (MDPA) and orMining Lease granted through auctions:-
(i) where the lease purports to be for a term exceeding oneyear and not exceeding ten years.	One rupee for every one hundred rupees or part thereof on thetotal amount or value of; the average annual royalty and averageannual payment based on the final price offer obtained in theauction calculated on the estimated average annual production asper the approved mining plan.
(ii) where the lease purports to be for a term exceeding tenyears and not exceeding twenty years	Two rupees for every one hundred rupees or part thereof on thetotal amount or value of; the average annual royalty and averageannual payment based on the final price offer obtained in theauction calculated on the estimated average annual production asper the approved mining plan.
(iii) where the lease purports to be for a term exceedingtwenty years and not exceeding thirty years	Three rupees for every one hundred rupees or part thereof onthe total amount or value of; the average annual royalty andaverage annual payment based on the final price offer obtained inthe auction calculated on the estimated average annual productionas per the approved mining plan.
(iv) where the lease purports to be for a term exceedingthirty years or in perpetuity or does not purport to be for anydefinite term.	Five rupees for every one hundred rupees or part thereof onthe total amount or value of; four times the average annualroyalty and four times the average annual payment based on thefinal price offer obtained in the auction calculated on theestimated average annual production as per the approved miningplan
	Provided that in any case when Mine Development And ProductionAgreement (MDPA) is duly stamped with the ad valorem stamprequired for MDPA as well as for a mining lease and a mininglease in pursuance of such Mine Development And ProductionAgreement is subsequently executed, the duty on such mining leaseshall not exceed rupees fifty:
(b): Mine Development and Production Agreement (MDPA) and orMining Lease granted other than by auctions.
(i) where the lease purports to be for a term exceeding oneyear and not exceeding ten years.	One rupee for every one hundred rupees or part thereof on thetotal amount or value of; the average annual royalty and averageannual payment as share of value of mineral calculated on theestimated average annual production as per the approved miningplan, premium, money advanced, security deposit and fine.
(ii) where the lease purports to be for a term exceeding tenyears and not exceeding twenty years	Two rupees for every one hundred rupees or part thereof on thetotal amount or value of; the average annual royalty and averageannual payment as share of value of mineral calculated on theestimated average annual production as per the approved miningplan, premium, money advanced, security deposit and fine.
(iii) where the lease purports to be for a term exceedingtwenty years and not exceeding thirty years	Three rupees for every one hundred rupees or part thereof onthe total amount or value of; the average annual royalty andaverage annual payment as share of value of mineral calculated onthe estimated average annual production as per the approvedmining plan, premium, money advanced, security deposit and fine.
(iv) where the lease purports to be for a term exceedingthirty years or in perpetuity or does not purport to be for anydefinite term.	Five rupees for every one hundred rupees or part thereof onthe total amount or value of; four times the average annualroyalty and four times the average annual payment as share ofvalue of mineral calculated on the estimated average annualproduction as per the approved mining plan, premium, moneyadvanced, security deposit and fine; or on the value of EstimatedResources whichever is higher;
	Provided that in any case when Mine Development And ProductionAgreement (MDPA) is duly stamped with the ad valorem stamprequired for MDPA as well as for mining lease and a mining leasein pursuance of such Mine Development And Production Agreement issubsequently executed, the duty on such mining lease shall notexceed rupees fifty:
	Explanation: (1) The term "money advanced and securitydeposit" in this Article means and includes the moneyadvanced and security deposit including performance guaranteewhether refundable or adjustable towards any other payments.
	(2) "Value of Estimated Resources" shall have thesame meaning as that in the Minerals (Other than Atomic and HydroCarbons Energy Minerals) Concession Rules, 2016.]

31. Letter of allotment of shares,-in any company orproposed company or in respect of any loan to be raised by anycompany or proposed company.	[One rupee] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
See also certificate or other Document (No. 16) Letter ofGuarantee-
See Agreement (No. 5)
32. letter of licence-that is to say, any agreementbetween a debtor and his creditors that the latter shall for aspecified time, suspend their claims and allow the debtor tocarry on business
at his own discretion.	[One hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
[32-ALicence of immovable or movable property.-Thatis to say licence granted by owner or authority for rent or feeor by whatever name it is called and money advanced or securitydeposit[or for carrying on manufacture, trade, business orprofession] [Substituted by Act 8 of 2010 w.e.f. 1.4.2010],-
(i)where the license purports to be for a term not exceedingone year in case of residential property	fifty paise for every one hundred rupees or part thereof onthe total amount or value of; the average annual rent, premium,fine and money advanced, subject to a maximum of rupees fivehundred
(ii)where the license purports to be for a term not exceedingone year in case of commercial or industrial property	fifty paise for every one hundred rupees or part thereof onthe total amount or value of; the average annual rent, premium,fine and money advanced,[subject to a minimum of rupees fifty] [Inserted by Act 16 of 2015 w.e.f. 01.04.2015]
(iii)where the license purports to be for a term exceeding oneyear and not exceeding ten years	one rupee for every one hundred rupees or part thereof on thetotal amount or value of; the average annual rent, premium, fineand money advanced,[subject to a minimum of rupees onehundred] [Inserted by Act 16 of 2015 w.e.f. 01.04.2015]
(iv)where the license purports to be for a term exceeding tenyears and not exceeding twenty years	two rupees for every one hundred rupees or part thereof on thetotal amount or value of; the average annual rent, premium, fineand money advanced,[subject to a minimum of rupees twohundred] [Inserted by Act 16 of 2015 w.e.f. 01.04.2015]
(v)where the license purports to be for a term exceedingtwenty years and not exceeding thirty years	three rupees for every one hundred rupees or part thereof onthe total amount or value of; the average annual rent, premium,fine and money advanced.[subject to a minimum of rupees threehundred] [Inserted by Act 16 of 2015 w.e.f. 01.04.2015]]
[33 Memorandum of Association of a company,— [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]
(a) if accompanied by Articles of Association under section26 of the Companies Act, 1956 (Central Act 1 of 1956)	[One thousand rupees] [Substituted by Act 8 fo 2003 w.e.f. 1.4.2003]
(b) if not so accompanied Memorandum of any Association notformed for profit and registered under section 25 of theCompanies Act, 1956, (Central Act 1 of 1956)]	The same duty as under Article (No. 10) according to the sharecapital of the company.
Exemption:—
34. Mortgage deed,-not being an agreement relating to[Deposit of title deeds,[pawn or pledge] [Substituted by Act 8 of 1995 w.e.f. 1.4.1995](No. 6)], BottomryBond (No. 13), Mortgage of a Crop (No. 35), Respondentia Bond(No. 46), or Security Bond (No. 47)
(a) When possession of the property or any part of theproperty comprised in such deed is given by the mortgagor oragreed to be given.	The same duty as conveyance (No. 20) for a market value equalto the amount secured by such deed.
(b) When possession is not given or agreed to be given asaforesaid[and not being a hypothecation] [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]	[Fifty paise for every hundred rupees or part thereof for theamount secured by such deed] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
EXPLANATION—A mortgagor who gives to themortgagee a power of attorney to collect rents or a lease of theproperty mortgaged or part thereof is deemed to give possessionthereof within the meaning of this article.
(c) [ When a collateral or auxiliary or additional orsubstituted security, or by way of further assurance for theabove mentioned purpose, where the principal or primary securityis duly stamped. [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]
(i) for every sum secured not exceeding Rs. 1,000.	[Ten rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
(ii) for every Rs. 1,000 or part there-of, secured in excessof Rs.1000.	[Ten rupees plus one rupee for every rupees one thousand orpart thereof in excess of rupees one thousand.] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
(d) [ for hypothecation of movable property,- [Substituted by Act 16 of 2015 w.e.f. 01.04.2015]

If the loan or debt is repayable on demand
(i) where the loan amount does not exceeds rupees ten lakhs	rupees ten for every rupees ten thousands or part thereof
(ii) where the loan amount exceeds rupees ten lakhs	rupees twenty for every rupees ten thousands or part thereof,subject to a maximum of rupees ten lakhs". ]]

EXEMPTION
(1) Instruments executed by persons taking advances under theKarnataka Land Improvement Loans Act, 1963 (Karnataka Act 16 of1963), the Karnataka Agriculturists Loans Act, 1963 (KarnatakaAct 17 of 1963) or by their sureties as security for therepayment of such advances,
(2) Letter of hypothecation accompanying a bill of exchange.
35. Mortagage of a crop,-including any instrumentevidencing an agreement to secure the repayment of a loan madeupon any mortgage of a crop whether the crop is or is not inexistence at the time of the mortgage,—
(a) when the loan is repayable not more than three months fromthe date of the instrument,—
for every sum secured not exceeding Rs. 200	Fifty paise
and for every Rs. 200 or part thereof secured in excess of Rs.200	Fifty paise
(b) when the loan is repayable more than three months but notmore than eighteen months from the date of the instrument
for every sum secured not exceeding Rs. 100	[fifty paise] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
and for every Rs. 100 or part thereof secured in excess of Rs.100.	[fifty paise] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
36. Notarial act,-that is to say, any instrument,endorsement, note, attention, certificate or entry not being aprotest (No. 42) made or signed by a Notary Public in theexecution of the duties of his office or by any other personlawfully acting as a Notary Public See also Protest of Bill orNote (No. 42).	[XXX] [Omitted by Act 16 of 2011 w.e.f. 1.4.2011]
37. Note or Memorandum or record of transactions(Electronic or otherwise).- Sent by a broker or agent to hisprincipal intimating the purchase or sale on account of suchprincipal or effected by a trading member(agent) through stockexchange or association or otherwise on behalf of theclient(principal) resident in the State of Karnataka or otherwise
(a) Of any[Goods or commodities or currencies] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]	[Thirty paise for every ten thousand or part thereof on thevalue of goods or commodities or currencies.] [Substituted by Act 17 of 2017 w.e.f. 01.04.2017]
(b) Of any share, scrip, stock, bond, debenture, debenturestock or other marketable security of a like nature, not being agovernment security	[Thirty paise for every ten thousand or part thereof on thevalue of such security at the time of its purchase or sale, asthe case may be. ] [Substituted by Act 17 of 2017 w.e.f. 01.04.2017]
(c) of a Government Security	[Thirty paise for every ten thousand or part thereof on thevalue of such security at the time of its purchase or sale, asthe case may be. ] [Substituted by Act 17 of 2017 w.e.f. 01.04.2017]
(d) Of securities other than those falling under clause (b)above, in respect of either delivery or non delivery based(jobbing and trading) transactions	[Thirty paise for every ten thousand or part thereof. ] [Substituted by Act 17 of 2017 w.e.f. 01.04.2017]
(e) Of futures and options trading, of securities other thanthose falling under clause (b) above,:	[Thirty paise for every ten thousand or part thereof.; and] [Substituted by Act 17 of 2017 w.e.f. 01.04.2017]
(f) Of forward contracts of commodities:	[Thirty paise for every ten thousand or part thereof.] [Substituted by Act 17 of 2017 w.e.f. 01.04.2017]
Explanation:For the purposes of clauses (b), (d) and(e) , “securities” means, the securities as definedin clause (h) of section (2) of the Securities Contract(Regulation) Act, 1956.
Exemptions:
(1) note or Memorandum sent by a broker or agent to hisprincipal intimating the purchase or sale on account of suchprincipal or a Government security or a share, scrip, stock,bond, debenture, debenture stock or other marketable security oflike nature in or of any incorporated company or other bodycorporate, an entry relating to which is required to be made inclearance lists described in clauses (1), (2) and (3) of Article18-A.
(2) note or Memorandum sent by a broker or agent to hisprincipal in any of the above cases, when the amount stated inthe instrument is less than rupees one hundred.
38. Note of Protest,-by the Master of a ship	[fifty rupees] [Substituted by Act 16 of 2015 w.e.f. 01.04.2015]
See also Protest by the Master of a ship (No. 43)
39.[Partition-Instrument,- [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]of, as defined by clause(K) of sub-section (1) of section 2.
(a) where the property involved in the partition is convertedfor non-agricultural purpose or is meant for non-agriculturaluse.
(1) if the property is situated in the jurisdiction ofMunicipal Corporation or Urban Development Authorities orMunicipal Councils or Town Panchayats.	Rupees one thousand for each share
(2) If the property is situated in the areas other than thosementioned in sub- clause (1) above .	Rupees five hundred for each share
(b) where the property involved in the partition isagricultural land	Rupees two hundred fifty for each share
(c) where the property involved in partition is movable ormoney	Rupees two hundred and fifty for the each share
(d) where the property involved in the partition belongs toany of the combinations of categories mentioned in sub-clause(a), (b) and	Maximum of the duties described in sub-clause (a), (b) or (c)above for each share.]
(c) above.
	Provided always that;
	(a) when an instrument of partition containing an agreement todivide property in severalty is executed and a partition iseffected in pursuance of such agreement the duty chargeable uponthe instrument effecting such partition shall be reduced by theamount of duty paid in respect of the first instrument but shallnot be less than[fifty rupees] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999];
	(b) [ x x x] [Omitted by Act 6 of 1999 w.e.f. 1.4.1999]
	(c) where a final order for effecting partition passed by anyrevenue authority or any Civil Court or an award by an arbitratordirecting a partition, is stamped with the stamp required for aninstrument of partition and an instrument of partition inpursuance of such order or award is subsequently executed theduty on such instrument shall not exceed[fifty rupees] [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]
[40 Partnership:— [Substituted by Act 8 of 1995 w.e.f. 1.4.1995]

[A. [Substituted by Act 7 of 2016 w.e.f. 1.4.2016]

Instrument of Constitution

Rupees Two Thousand.]

(a) Where the capital of the partnership does not exceed[rupees fifty thousand] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]	[five hundred rupees] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]
(b) In any other case	[[two thousand rupees] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]]
B.Reconstitution:—
(a) Where immovable property contributed as share by a partneror partners remains with the firm at the time of outgoing inwhatever firm. manner by such partner or partners onreconstitution of such partnership	[Three per cent] [Substituted by Act 7 of 2016 w.e.f. 1.4.2016]on the market value of the immovableproperty remaining with the firm.
(b) In any other case	[one thousand rupees] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]
C.Dissolution of:—
(a) Where the property which belonged to one partner orpartners when the partnership commenced is distributed or allotedor given to another partner or partners.	[Three per cent on] [Substituted by Act 7 of 2016 w.e.f. 1.4.2016]for a market value equal to the marketvalue of the property distributed or alloted or given to partnerunder the instrument of dissolution, in addition to the dutywhich would have been chargeable on such dissolution if suchproperty had not been distributed or alloted or given.

(b)Inanyother case

[onethousand rupees.] [Substituted by Act 15 of 2012 w.e.f. 1.4.2012]]

[40A [Inserted by Act 16 of 2015 w.e.f. 01.04.2015]	Limited Liability Partnership,-
	A. constitution of Limited Liability Partnership, orconversion of firm/private company/unlisted public limitedcompany into limited liability partnership,
	(a) where the capital does not exceed rupees ten lakhs	Rupees one thousand
	(b) where the capital exceeds rupees ten lakhs; for everyrupees five lakh of part thereof exceeding rupees ten lakhs	[Rupees one thousand plus rupees five hundred for everyrupees five lakhs or part thereof, exceeding rupee ten lakhscapital amount, subject to a maximum of rupees ten lakhs] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]
	B. Reconstruction or amalgamation of Limited LiabilityPartnership	[Three percent] [Substituted by Act 07 of 2016 w.e.f. 01.04.2016]on the consideration or market value ofthe property whichever is higher of the transferor limitedliability partnership located within the State of Karnataka"]

41. Powers of attorney,—(as defined by section2(1)(P) not being a proxy,—
(a) when executed for the sole purpose of procuring theregistration of one or more documents in relation to a singletransaction or for admitting execution of one or more suchdocuments	[One hundred rupees] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]
(b) when authorizing one person or more to act in a singletransaction other than the case mentioned in Clause (a)	[One hundred rupees] [Substituted by Act 7 of 2000 w.e.f. 1.4.2000]
(c) when authorising not more than five persons to act jointlyand severally in more than one transaction or generally	[One hundred rupees] [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]
(d) when authorising more than five but not more than tenpersons to act Jointly and severally in more than one transactionor generally;	[Two hundred rupees] [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]
(e) [ when given for consideration or when coupled withinterest and authorizing the attorney to sell any immovableproperty; [Substituted by Act 9 of 2009 w.e.f.1.4.2009]	The same duty as a Conveyance [under Article 20(1)] onconsideration or on market value of the property (which is thesubject matter of such power of attorney), whichever is higher.]
	[[Provided that the duty paid on agreement for saleunder Article 5(e) or instrument of sale or transfer as the casemay be, is adjustable towards the duty payable on such power ofattorney under Article 41 (e), executed between the same partiesand in respect of the same property] [Substituted by Act 19 of 2014 w.e.f. 1.03.2014]]
(ea) [ XXX] [Omitted by Act 16 of 2011 w.e.f.1.4.2011]
[[ (ea) If relating to construction or development ofimmovable property, including a multi unit or multi storied houseor building or apartment or flat, or portion of it, executed byand between owner or lessee, as the case may be, and developer,having a stipulation, whether express or implied, that, inconsideration of the owner or lessee conveying or transferring ordisposing off, in any way, the undivided share or portion of landor immovable property; the developer agrees to convey or transferor dispose off, in any way, the proportionate or agreed share orportion of the constructed or developed building or immovableproperty to the owner or lessee, as the case may be. [Substituted by Act 19 of 2014 w.e.f. 1.03.2014]	Two Rupees for every one hundred rupees or part thereof, onthe Market Value of such undivided share or portion of land orimmovable property, consideration and money advanced, if any; orOn the Market Value of such share or portion of the constructedor developed building or immovable property, consideration andmoney advanced, if any; whichever is higher.
	Provided that, if the proper stamp duty is paid under clause(f) of the Article 5 on an agreement for sale, executed by andbetween the same parties and in respect of the same property,then the stamp duty payable on the corresponding power ofattorney under clause (ea) of article 41, shall not exceed rupeestwo hundred."
Explanation:
The tern "Developer" includes promoter or builder orby whatever name called.	Explanation: The term "money advanced" in thisArticle, means and includes the security deposit whetherrefundable or adjustable.]]
(eb) [ When given to a person other than the father, mother,wife or husband, sons, daughters, brothers, sisters in relationto the executant authorizing such person to sell immovableproperty situated in Karnataka State [Substituted by Act 8 of 1995 w.e.f. 1.4.1995 and substituted by Act 6 of 1999 w.e.f. 1.4.1999]	6[ the same duty as a conveyance under Article 20(1)] 6 onthe market value of the property which is the subject matter ofthe power of attorney
	[[Provided that the duty paid on agreement for saleunder Article 5(e) or instrument of sale or transfer as the casemay be is adjustable towards the duty payable on such power ofattorney under Article 41 (eb), executed between the same partiesand in respect of the same property] [Substituted by Act 19 of 2014 w.e.f. 1.03.2014]] ]

(ec) [ [Inserted by Act 07 of 2016 w.e.f. 1.4.2016]

When given to person other than the father, mother, wife orhusband, sons, daughters, brothers, sisters in relation to theexecutant authorizing such person to sell TransferableDevelopment Rights relating to immovable property situated inKarnataka State.

The same duty as a conveyance under Article 20(7) on themarket value of the property which is the subject matter of Powerof Attorney:]

(f) [ When executed by a principal or client for the solepurpose of authorizing the agent or broker to carry out alllawful acts and deeds relating to his / her trading operationsincluding sale / purchase of marketable securities, transfer ofsecurities towards -stock exchange, receiving / releasing fundsand securities from / to other parties on behalf of the principalor client. [Inserted by Act 16 of 2011 w.e.f.1.4.2011]	Rupees fifty
(g) When executed by a principal or client for the solepurpose of authorizing the depository participant to carry outall lawful acts and deeds relating to his/her demat account asper the bye-laws of the depositories / regulations governing suchoperations.	Rupees fifty]
(h) [] [Renumbered by Act 16 of 2011 w.e.r.1.4.2011]in any other case	[two hundred rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003 and substituted by Act 9 of 2009 w.e.f..1.4.2009]
N.B.The term “Registration” includes everyoperation incidental to registration under the Registration Act,1908. (Central Act 16 of 1908).
Explanation—‘For the purposes of thisarticle more persons than one when belonging to the same firmshall be deemed to be one person’
42. protest of bill or note,—that is to say, anydeclaration in writing made by a Notary Public or other personlawfully acting as such, attesting the dishonour of a bill ofexchange or promissory note.	[Ten rupees] [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]
43. Protest by the master of a ship,—that is tosay, any declaration of the particulars of her voyage drawn up byhim with a view to the adjustment of losses or the calculation ofaverages and every declaration in writing made by him againstthe charterers or the consignees for not loading or unloading theship when such declaration is attested or certified by a NotaryPublic or other person lawfully acting as such.	[Fifty rupees] [Substituted by Act 16 of 2015 w.e.f. 01.04.2015]
See also Note of Protest by the Master of a ship (No. 38)
44. Reconveyance of mortgaged property,—
(a) the consideration for which the property was mortgageddoes not exceed Rs. 1,000.	The same duty as a conveyance (No. 20) for a market valueequal to the amount of such consideration as set forth in there-conveyance.
(b) [ in any other case [Substituted by Act 9 of 1987 w.e.f. 1.4.1987]	One-hundred rupees]
45. Release,that is to say, any instrument (not beingsuch a release as is provided for by section 24,) whereby aperson renounces a claim upon another person or against anyspecified property:
(a) [ where the release is not between the family members [Substituted by Act 9 of 2009 w.e.f. 1.4.2009]	The same duty as a Conveyance [under Article No.20(1)] on themarket value of the property or on the amount or value of claimor part of claim renounced, as the case may be (which is thesubject matter of release) or consideration for such release,whichever is higher.]

(b) [ [Substituted by Act 6 of 2001 w.e.f. 1.4.2001]	Where the release is between the family members	(i) [ If the property is situated within the limits ofBangalore Metropolitan Regional Development Authority or BruhatBangalore Mahanagara Palike or City Corporation ……Rupeesfive thousand; [Substituted by Act 7 of 2016 w.e.f. 1.4.2016]
		(ii) If the property is situated within the limits of City orTown Municipal Council or Town Panchayat area ………….Rupees three thousand;
		(iii) If the property is situated within the limits other thanthe limits specified in items (i) and (ii) ………………….Rupees one thousand;
		Provided that, if the property is situated in any of thecombinations of limits, mentioned in items (i), (ii) and (iii)above the duty payable shall be the maximum of the dutiesspecified in items (i), (ii) and (iii) above.]

Explanation.-family in relation to a person for thepurpose of clause (b) means husband, wife, son, daughter, father,mother, brother,[wife / children of predeceased brother] [Substituted by Act 9 of 2009 w.e.f. 1.4.2009]sister,[husband/ children of predeceased sister] [Substituted by Act 9 of 2009 w.e.f. 1.4.2009]wife of apredeceased son and children of a predeceased son or predeceaseddaughter."]
(c) [Release of mortgage rights or lien [Inserted by Act 8 of 1995 w.e.f. 1.4.1995]	Same duty as bond (No. 12) subject a maximum of rupees onehundred]
46. Respondentia bond,-that is to say any instrumentsecuring loan on the cargo laden or to be laden on board a shipand making repayment contingent on the arrival of the cargo atthe port of destination.	The same duty as a Bond (No.12) for the amount of the loansecured.
Revocation of any Trust or settlement See settlement (No. 48)Trust (No. 54)
47. Security bond or mortgagedeed,-executed by way ofsecurity for the due execution of an office, or to account formoney or other property received by virtue thereof, or executionby a surety to secure the due performance of a contract.

(a) [ when the amount secured does not exceed rupees onethousand [Substituted by Act 16 of 2015 w.e.f. 01.04.2015]	Fifty paise for every rupees one hundred or part thereof
(b) in any other case	Rupees two hundred".]

EXEMPTION
Bond or other instrument, when executed,-
(a) by any person for the purpose of guaranteeing that thelocal income derived from private subscriptions to a charitabledispensary or hospital or any other object of public utilityshall not be less than a specified sum per mensem,
(b) under No. 3A of the rules made under section 70 of theBombay Irrigation Act, 1879,
(c) by persons taking advances under the Karnataka LandImprovement Loan Act, 1963 (Karnataka Act 16 of 1963), theKarnataka Agriculturists Loans Act, 1963 (Karnataka Act 17 of1963) or by their sureties as security for the repayment of suchadvances.
(d) by officers of Government or their sureties to secure thedue execution of an office or the due accounting for money orother property received by virtue thereof.
48. Settlement,-
[A. Instrument of (including a deed of dower) [Substituted by Act 6 of 1999 w.e.f. 1.4.1999]
(i) Where the disposition is not for the purpose ofdistributing the property of the settlor among his family	The same duty as a conveyance (Article No. 20), for a marketvalue equal to the market value of the property, which is thesubject matter of settlement:
	Provided that, where an agreement to settle is stamped withthe stamp duty required for an instrument of settlement and aninstrument of settlement in pursuance of such agreement issubsequently executed, the duty on such instrument shall notexceed fifty rupees.

(ii) [ [Substituted by Act 6 of 2001 w.e.f. 1.4.2001]	Where the disposition is for the purpose of distributing theproperty of the settler among the members of his family:-	(i) [ If the property is situated within the limits ofBangalore Metropolitan Regional Development Authority or BruhatBangalore Mahanagara Palike or City Corporation ……Rupeesfive thousand; [Substituted by Act 07 of 2016 w.e.f. 1.4.2016]
		(ii) If the property is situated within the limits of City orTown Municipal Council or Town Panchayat area ………….Rupees three thousand;
		(iii) If the property is situated within the limits other thanthe limits specified in items (i) and (ii) ………………….Rupees one thousand;
		Provided that, if the property is situated in any of thecombinations of limits, mentioned in items (i), (ii) and (iii)above the duty payable shall be the maximum of the dutiesspecified in items (i), (ii) and (iii) above.]

Explanation.- For the purpose of this subclause familyin relation to settler means[father, mother] [Inserted by Act 9 of 2009 w.e.f.1.4.2009]husband, wife,son, daughter,[daughter -in- law, brothers, sisters] [Substituted by Act 7 of 2007 w.e.f. 1.4.2007]andgrand children. ]
Exemption.- Deed of dower executed on the occasion of amarriage between muhammadans.]
[B. Revocation of [Substituted by Act 9 of 1987 w.e.f. 1.4.1987]	The same duty as a conveyance (No. 20) for a sum equal to theamount or value of the property concerned, in the Instrument ofrevocation, but not exceeding two hundred rupees]
49. Share warrants—To bearer issued under theCompanies Act, 1956 (Central Act I of 1956)	One and a half times the duty payable on a conveyance (No.20) for a market value equal to the nominal amount of the sharesspecified in the warrant.
EXEMPTIONS
Share warrant when issued by a company in pursuance of section114 of the Companies Act, 1956, to have effect only upon paymentas composition for that duty to the Deputy Commissioner ofStamp-revenue, of,—
(a) one and a half per-centum of the whole subscribed capitalof the company, or
(b) if any company which has paid the said duty or compositionin full subsequently issues an addition to its subscribed capitalone and a half percentum of the additional capital so issued.
50. Shipping order,- for or relating to the conveyanceof goods on board of any vessel.	[Two rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]
51. Surrender of lease
(a) when the duty with which the lease is chargeable does notexceed ed twenty-two rupees and fifty paise	The duty with which such lease is chargeable.
(b) In any other case	[One hundred rupees.] [Substituted by Act 10 of 1990 w.e.f. 1.4.1990]
EXEMPTION
Surrender of lease, when such lease is exempted from duty.
52. Transfer.—(Whether with or withoutconsideration),
(a) [ of debentures, being marketable securities, whether thedebenture is, liable to duty or not [Substituted by Act 6 of 1990 w.e.f. 1.4.1990]	Fifty paise for every rupees one hundred or part thereofsubject to a maximum of one thousand rupees for a considerationequal to the face value of the debenture.]
(b) of any interest secured by a bond, mortgage-deed or policyof insurance,—
(i) if the duty on such bond, mortgage-deed or policy does notexceed twenty-two rupees and fifty paise	The duty with which such bond, mortgage deed; or policy ofinsurance is chargeable.
(ii) in any other case	[One hundred rupees] [Substituted by Act 10 of 1990 w.e.f.1.4.1990]
(c) of any property under section 25 of the AdministratorGenerals Act, 1963	[One hundred rupees] [Substituted by Act 10 of 1990 w.e.f.1.4.1990]
(d) [ of any trust property from one trust to another trustor from Trust to trustee or beneficiary, or from trustee to trustor trustee or beneficiary, as the case may be. [Substituted by Act 16 of 2011 w.e.f.1.4.2011]	The same duty as a conveyance [under Article 20 (1)] on themarket value of the property (which is the subject matter of suchtransfer) or consideration for such transfer, whichever ishigher.
	Provided that for the public religious and charitable trusts,the duty for such transfer shall be rupees one thousand.]
EXEMPTIONS
Transfers by endorsement
(a) of a bill of exchange, cheque or promissory note
(b) of a bill of lading, delivery order, warrant for goods orother mercantile document of title to goods.
(c) of a policy of insurance
(d) of securities of the Central Government or of StateGovernment
(See also section 8)
[53 Transfer of lease.- by way of assignment and notby way of under lease. [Substituted by Act 7 of 2006 w.e.f. 1.4.2006]
(a) Where the remaining period of lease does not exceed 30years	The same duty as conveyance [No.20(1)] for a market valueequal to the amount of consideration.
(b) Where the remaining period of lease exceeds 30 years.	The same duty as conveyance [No.20(1)] on the market value ofthe property which is the subject matter of transfer.]
[53A.Transfer of Licence [Inserted by Act 8 of 1995 w.e.f. 1.4.1995]	Same duty as conveyance (No. 20)]
54. [ Trust [Substituted by Act 16 of 2011 w.e.f. 1.4.2011],-
Declaration of or concerning, any property when made by anywriting not being a Will.-
(i) When the Trust is made exclusively for public religiousand charitable purposes.	Rupees One Thousand
(ii) When the Trust is made for the management & custodyof properties, for the purpose of distributing thebenefits/profits of the property to the beneficiaries and wherethere is no transfer/ disposition of property, in any way.RupeesOne Thousand
(iii)When the trust made involves the transfer/ disposition ofproperty in any way;	The same duty as conveyance [under Article No. 20(1)] on theamount and the market value of the property, which is the subjectmatter of such transfer / disposition.]
55. Warrant for goods,- that is to say, any instrumentevidencing the title of any person therein named or his assigns,or the holder thereof, to the property in any goods lying in orupon any dock, warehouse or wharf, such instrument being signedor certified by or on behalf of the person in
whose custody such goods maybe.	[[Fifty rupees] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003]].
[Note x x x] [Omitted by Act 9 of 1987 w.e.f. 1.4.1987]

NotificationsBangalore, 12th May 1958 (Vishaka 22nd, Saka Era 1880).[No. RD 6 (A) SPS 58]No. RD 6 (A) SPS 58. - In exercise of the powers conferred by sub-section (3) of Section 1 of the Mysore Stamp Act, 1957 (Mysore Act No. 34 of 1957), the Government of Mysore hereby appoints the 1st day of June 1958 as the date on which the said Act shall come into force.Bangalore dated 27th October 1966, [No. RD 184 EST 66.].S.O. 5614. - In exercise of the powers conferred by sub-section (2) of Section 1 of the Mysore Stamp (Amendment) Act, 1966 (Mysore Act 17 of 1966), the Government of Mysore hereby appoints the 15th day of November 1966 as the date on which the said Act shall come into force.Bangalore, dated 30th November, 1971.[ No. RD 116 FST 71]S.O. 2000. - In exercise of the powers conferred by sub-section (2) of section 1 of the Mysore Stamp (Amendment) Act, 1971 (President's Act No. 17 of 1971), the Government of Mysore hereby appoints the first day of December 1971 as the date on which the said Act shall come into force.Bangalore, dated 11th April, 1991.[No. RD 90 ESR 91]No. RD 90 ESR 91. - In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Karnataka Stamp (Amendment) Act, 1975 (Karnataka Act 12 of 1975), the Government of Karnataka hereby specify that section 5 of the said Act shall come into force on the 1st April 1991 in other areas of the State except the areas to which the said section has already brought into force.Bangalore, dated 24th February, 2009.[No. RD 108 MUNOMU 2008]No. RD 108 MUNOMU 2008. - In exercise of the powers conferred by sub section (2) of section 1 of the Karnataka Stamp (Second Amendment) Act, 2007 (Karnataka Act No. 1 of 2008) the Government of Karnataka hereby appoints the 1st day of April 2003 as the date on which the said Act shall be deemed to have come into force[Substituted by Act 15 of 2012 w.e.f.1.4.2012]

Legal Document View

Unlock Advanced Research with PRISMAI

State of Karnataka - Act