Section 79 in The Stamp Act, 1977 (1920 A. D.)

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State of Jammu-Kashmir - Section

Section 79 in The Stamp Act, 1977 (1920 A. D.)

79.

Omitted.[Schedule-I] [Substituted by Act No. XII of 2011, dated 25th April, 2011.]Stamp Duty on Instruments(See Section 3)

Article	Description of Instrument	Proper stamp duty
1	2	3
1.	ACKNOWLEDGEMENT, of a debt exceeding fivethousand rupees in amount or value, executed by or on behalf ofdebtor in any book (other than a banker's pass book) or on aseparate piece of paper when such book or paper is left in thecreditor's possession.	Ten rupees.
2.	ADMINISTRATION-BOND, including a bond givenunder section 78 of the Probate and Administration Act, or andsection 9 or section 10 of the Succession Certificate Act.	Five hundred rupees.
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.
4.	AFFIDAVIT, that is to say, a statement inwriting purporting to be a statement of fact, signed by theperson making it and confirmed by him on oath or, in the case ofpersons by law allowed to affirm instead of swearing, byaffirmation.	Ten rupees.
	Exemption ;-
	Affidavit or declaration in writing when madefor the sole purpose of enabling any person to receive anypension or charitable allowance.
5.	AGREEMENT OR MEMORANDUM OF AN AGREEMENT.
	(a) If relating to the sale of bill ofexchange.	One rupee for every Rs. 10,000 or part thereof.
	(b) (i) If relating to the purchase or sale ofa Government security;	One rupee for every Rs. 10,000 or part thereofof the value of the security at the time of its purchase orsale, as the case may be, subject to a maximum of one thousandrupees.
	(ii) If relating tothe purchase or sale of shares, scrips, bonds, debentures,debenture-stocks or any other marketable security of a likenature in, or, of any incorporated company or other bodycorporate.	One rupee for every Rs. 10,000 or part thereofof the value of the security at the time of its purchase orsale, as the case may be.
	(c) If not otherwise provided for.	One hundred rupees.
	Exemptions ;-
	Agreement or memorandum of an agreement -
	(a) for or relatingto the sale of goods or merchandise exclusively, not being aNote or Memorandum chargeable under article 38;
	(b) made in theform of tenders to the Government for, or relating to, any loan.
6.	AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS,PAWN, PLEDGE OR HYPOTHECATION, that is to say, any instrumentevidencing an agreement relating to-
	(a) the deposit of title deeds or instrumentconstituting or being evidence of the title to any propertywhatever (other than a marketable security), where such deposithas been made by way of security for the repayment of money,advanced or to be advanced by way of loan or an existing orfuture debt; or	0.25 percent of the amount secured by suchdeed, subject to a maximum of five lakh rupees.
	(b) the pawn, pledge or hypothecation ofmovable property, where such pawn, pledge, or hypothecation hasbeen made by way of security for the repayment of moneyadvanced, or to be advanced by way of loan or an existing orfuture debt-
	(i) If such loan ordebt is repayable on demand or more than three months from thedate of the instrument, evidencing the agreement;	0.50 percent of the amount secured, subject toa maximum of five lakh rupees.
	(ii) If such loanor debt is repayable not more than three months from the date ofsuch instrument.	Half the duty payable under sub-clause (i) ofclause (b) of this article.
	Explanation :- For the purposes of clause (a)of this article, notwithstanding anything contained in anyjudgment, decree or order of any court or order of anyauthority, any letter, note, memorandum or writing relating tothe deposit of title deeds whether written or made either beforeor at the time when or after the deposit of title deeds iseffected, and whether it is in respect of the security for thefirst loan or any additional loan or loans taken subsequently,such letter, note, memorandum or writing shall, in the absenceof any separate agreement or memorandum of agreement relating todeposit of such title deeds, be deemed to be an instrument,evidencing an agreement relating to the deposit of title deeds.
	Exemptions :-
	(a) Letter ofhypothecation accompanying a bill of exchange.
	(b) Instrument ofpawn or pledge of agriculture produce if unattested.
7.	APPOINTMENT IN EXECUTION OF A POWER, whether oftrustees or of property, moveable or immoveable, where made byany writing not being a will.	One hundred rupees.
8.	APPRAISEMENT OR VALUATION, made otherwise thanunder an order of the court in the course of a suit.	One hundred rupees.
	Exemptions :-
	(a) Appraisement orvaluation made for the information of one party only, and notbeing in any manner obligatory between parties either byagreement or operation of law.
	(b) Appraisement ofcrops for the purpose of ascertaining the amount to be given toa 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 profession, tradeor employment.	One hundred rupees.
	Exemption :-
	Instruments of apprenticeship by which a personis apprenticed by or at the charge of any public charity.
10.	ARTICLES OF ASSOCIATION OF A COMPANY –
	(a) where the company has no share capital;	One thousand rupees.
	(b) where the company has nominal share capitalor increased share capital.	0.15 percent of such nominal or increased sharecapital subject to a minimum of one thousand rupees and amaximum of five lakh rupees.
	Exemption :-
	Articles of any Association not formed forprofit and registered under the Companies Act, 1956.
11.	AWARD, that is to say, any decision in writingby an arbitrator or umpire, on a reference made otherwise thanby an order of the Court in the course of a suit, being an awardmade as a result of a written agreement to submit present orfuture differences to arbitration and not being an awarddirecting a partition.	Ten rupees for every one thousand rupees orpart thereof, of the amount or value of the property to whichthe award relates.
12.	Bill of Exchange [as defined by section 2(2)], not being a bond, bank-note or currency note, wherepayable otherwise than on demand-
	(a) When payable not more than one year afterdate or sight;	0.06 percent for every three months or afractional part thereof on the amount of bill, subject to amaximum of 0.24 percent.
	(b) When payable at more than one year afterdate or sight.	0.5 percent on the amount of bill.
13.	BOND, as defined by section 2(5), not beingotherwise provided for by any provision of this Act, whether ornot relating to particular type of bonds, or by the Court FeesAct.
	Exemption :-
	Bond when executed by any person for thepurpose of guaranteeing that the total income derived fromprivate subscriptions to a charitable dispensary or hospital orany other object of public utility shall not be less than aspecified sum per mensem.	0.5 percent of the amount secured by such deed,subject to a maximum of five lakhs.
14.	CANCELLATION instrument of, if attested and nototherwise provided for.	One hundred rupees.
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 Civil orRevenue Court or Collector or other Revenue Officer or anofficer authorised to do so under any law for the time being inforce.	The same duty as a conveyance (No.18) for amarket value equal to the amount of purchase money only.
16.	CERTIFICATE OR OTHER DOCUMENT, evidencing theright or title of the holder thereof, or any other person,either to any shares, scrip or stock in or of any incorporatedcompany or other body corporate, or to become proprietor ofshares, scrip or stock in or of any such company or body.	One rupee for every Rs. 1,000 or part thereof,of the value of shares, scrip or stock subject to a minimum offive rupees.
17.	COMPOSITION DEED, that is to say, anyinstrument executed by a debtor whereby he conveys his propertyfor the benefit of his creditors or whereby payment of acomposition or dividend on their debts is secured to thecreditors, or whereby provision is made for the continuance ofthe debtor's business under the supervision of inspectorsnominated by the creditors or under letters of licence for thebenefit of his creditors.	Five hundred rupees.
18.	CONVEYANCE, not being a transfer charged orexempted under No.54:
	(a) Where the land or estate is within anyurban area.	7% of the market value of such land or estate.
	(b) Where the land or estate is within ruralarea.	5% of the market value of such land or estate.
		Provided that -
		(a) when aninstrument relates to an assignment of a debt, the rate of dutyapplicable shall be 0.5 per cent on the amount of the debtassigned;
		(b) where anagreement to sell an immovable property is stamped withadvalorem duty required for a conveyance and a sale deed inpursuance of such agreement is subsequently executed, the dutyon such sale deed shall be the duty payable under the articleless the duty already paid, subject to a minimum of Rs.100;
		(c) where a powerof attorney authorizing the agent to sell immovable property isstamped with advalorem duty required for a conveyance and a saledeed is executed in pursuance of power of attorney between theexecutant of attorney and the person in whose favour it isexecuted, the duty on the sale deed shall be the duty payableunder the article less the duty already paid, subject to aminimum of Rs.100;
		(d) where amortgage deed is stamped with advalorem duty required for amortgage under article 35 and a court decree in pursuance of asuit filed against the mortgaged property is executed, the dutypayable on the decree shall be the duty payable under thearticle less the duty already paid under article 35 on themortgage deed, subject to a minimum of Rs. 100.
	Explanation - For the purpose of this article,where in the case of agreement to sell an immovable property,the possession of any immovable property is transferred oragreed to be transferred to the purchaser before the executionor at the time of execution or after the execution of suchagreement, then such agreement to sell shall be deemed to be aconveyance and stamp duty thereon shall be levied accordingly :
	Provided that, the provisions of section 47-Ashall apply mutatis mutandis to such agreement which is deemedto be a conveyance as aforesaid, as they apply to a conveyanceunder that section.
	Exemption :-
	Assignment of copyright under the CopyrightAct.
19.	COPY OR EXTRACT, certified to be a true copy orextract by or order of any public officer and not chargeableunder the law for the time being in force.	Ten rupees.
	Exemptions :-
	(a) Copy of anypaper which a public officer is expressly required by law tomake or furnish for record in any public office or for anypublic purpose;
	(b) Copy of, orextract from, any register relating to births, baptisms,namings, dedications, marriages, divorces, deaths and burials;
	(c) Copy of anyinstrument, the original of which is not chargeable with duty.
20.	COUNTERPART OF DUPLICATE, of any instrumentchargeable with duty and in respect of which the proper duty hasbeen paid.	One hundred rupees.
	Exemption :-
	Counterpart of any lease granted to acultivator when such lease is exempted from duty.
21.	CUSTOMS BOND OR EXCISE BOND, that is to say,any bond given pursuant to the provisions of any law for thetime being in force or to the directions of any officer ofCustom or Excise for, or in respect of, any of the duties ofCustoms and Excise or for preventing frauds or evasions thereofor for any other matter or thing relating thereto.	Five hundred rupees.
22.	DEBENTURE (whether a mortgage debenture ornot), being a marketable security transferable by endorsement orby a separate instrument of transfer or by delivery.	0.05 percent per year of the face value ofdebenture, subject to a maximum of 0.25 percent or rupees 25lakhs, whichever is lower.
23.	DELIVERY ORDER IN RESPECT OF GOODS, that is tosay, any instrument entitling any person therein named, or hisassigns or the holder thereof, to the delivery of any goodslying in any dock or port or in any ware house in which goodsare stored or deposited on rent or hire, or upon any wharf, suchinstrument being executed by or on behalf of the owner of suchgoods, upon the sale or transfer of the property therein whensuch goods exceed in value five thousand rupees.	Ten rupees.
24.	DIVORCE, instrument of, that is to say, anyinstrument by which any person effects the dissolution of hismarriage.	One hundred rupees.
25.	EXCHANGE OF PROPERTY - Instrument of extractcertified to be a true copy or extract by or order of any publicofficer and not chargeable under the law for the time being inforce.	The same duty as a conveyance (No.18) on themarket value of the property of greater value, which is thesubject matter of Exchange.
	Exemptions:-
	(a) Copy of anypaper which a public officer is expressly required by law tomake or furnish for record in any public office or for anypublic purpose.
	(b) Copy of, orextract from, any register relating to births, baptisms,namings, dedications, marriages, divorces, deaths and burials.
	(c) Copy of anyinstrument, the original of which is not chargeable with duty.
26.	FURTHER CHARGE, Instrument of that is to say,any instrument imposing a further charge on mortgaged property -
	(a) when the original mortgage is one of thedescription referred to in clause (a) of Article No.35 (that iswith possession);	The same duty as a conveyance (No.18) for amarket value equal to the amount of further charge secured bysuch instrument.
	(b) when such mortgage is one of thedescription referred to in clause (b) of Article No.35 (that is,without possession)-
	(i) if at the timeof the execution of the instrument of further charge, thepossession of the property is given or agreed to be given undersuch instrument;	The same duty as a conveyance (No.18) for amarket value equal to the total amount of charge (including theoriginal mortgage and any further charge already made) less theduty already paid on such mortgage and further charge.
	(ii) If possessionis not so given.	The same duty as a Bond (No.13) for the amountof the further charge secured by such instrument.
27.	GIFT- Instrument of, not being a settlement(No.50) or will or transfer ( No.54).	The same duty as a conveyance (No.18) on themarket value of the property, which is the subject matter of thegift.
28.	INDEMNITY BOND, that is to say, an instrumentby which one person promises to save the other from loss causedto him by the conduct of promisor himself or by the conduct ofany other person.	The same duty as security-bond (No.49) for thesame amount.
29.	LEASE, including an under lease, or sub-leaseand any agreement to let or sub let or any renewal of lease.
	(a) where by such lease, the rent is fixed andno premium is paid or delivered-
	(i) where the leasepurports to be for a term less than one year;	One percent for the whole amount payable ordeliverable under such lease.
	(ii) where thelease purports to be for a term of not less than one year butnot exceeding five years;	Two percent for the amount of average annualrent reserved.
	(iii) where thelease purports to be for a term exceeding five years but notexceeding ten years;	The same duty as a conveyance (No.18) for amarket value equal to the amount or value of one and half timesthe average annual rent reserved.
	(iv) where thelease purports to be for a term exceeding ten years but notexceeding twenty years;	The same duty as a conveyance (No.18) for amarket value equal to three times the amount or value of theaverage annual rent reserved.
	(v) where the leasepurports to be for a term exceeding twenty years but notexceeding thirty years;	The same duty as a conveyance (No.18) for amarket value equal to five times the amount or value of theaverage annual rent reserved.
	(vi) where thelease purports to be for a period in excess of thirty years orin perpetuity or does not purport to be for a definite period;	The same duty as a conveyance (No.18) for amarket value equal to ten times the amount or value of theaverage annual rent reserved.
	(b) When the lease is granted for a fine orpremium or money advanced or to be advanced and where no rent isfixed;	The same duty as a conveyance (No.18) for amarket value equal to the amount or value of such fine orpremium or advance as set forth in the lease.
	(c) where the lease is granted for a fine orpremium or money advanced or to be advanced in addition to rentfixed.	The same duty as conveyance (No.18) for amarket value equal to the amount or value of such fine orpremium or advance as set forth in the lease, in addition to theduty which would have been payable on such lease, if no fine orpremium or advance has been paid or delivered:
		Provided also that-
		(a) when aninstrument of agreement to lease is stamped with the advaloremstamp required for a lease, and a lease in pursuance of suchagreement is subsequently executed, the duty on such lease shallnot exceed one hundred rupees;
		(b) where a decreeor final order of any Civil Court in respect of a lease isstamped with advalorem duty required for a lease and aninstrument of lease is subsequently executed, the duty on suchlease deed shall be the duty payable under the article less theduty already paid, subject to a minimum of hundred rupees;
	Exemption :- Lease and its counter partexecuted in case of a cultivator and for the purposes ofcultivation (including a lease of trees for the production offood or drink) without the payment or delivery of any fine orpremium, when a definite term is expressed and such term doesnot exceed one year, or when the average annual rent reserveddoes not exceed one thousand rupees.
30.	LETTER OF ALLOTMENT OF SHARES, in any companyor proposed company or in respect of any loan to be raised byany company or proposed company.	Ten rupees.
31.	LETTER OF CREDIT, that is to say, anyinstrument by which one person authorizes another to give creditto the person in whose favour it is drawn.	Ten rupees.
32.	LETTER OF GUARANTEE, that is to say, anyinstrument by which a person makes him answerable for the debtor default of another.	Five hundred rupees.
33.	LETTER OF LICENCE, that is to say, anyagreement between a debtor and his creditors that the lattershall for a specified time, suspend their claims and allow thedebtor to carry on business at his own discretion.	Five hundred rupees.
34.	MEMORANDUM OF ASSOCIATION OF A COMPANY -
	(a) If accompanied by articles of associationunder the Companies Act 1956 (Central Act of 1 of 1956);	Five hundred rupees.
	(b) If not so accompanied.	The same duty as is chargeable on Articles ofAssociation under Article 10, according to the share capital ofthe company.
	Exemption :-
	Memorandum of any association not formed forprofit and registered under the Companies Act, 1956.
35.	MORTGAGE-DEED, not being an agreement relatingto the deposit of title deeds, pawn or pledge (No.6), Mortgageof a crop (No.36), or a Security Bond (No.49) -
	(a) when possession of the property or any partof the property comprised in such deed is given by mortgagor oragreed to be given;	The same duty as a conveyance (No.18) for amarket value equal to the amount secured by such deed.
	(b) when possession is not given or agreed tobe given as aforesaid.	0.5 percent of the amount secured by such deed,subject to a maximum of ten lakhs.
	Explanation- A mortgagor who gives to themortgagee a power of attorney to collect rents of a lease of theproperty mortgaged or part thereof, is deemed to give possessionwithin the meaning of this article.
	(c) When a collateral or auxiliary oradditional or substituted security, or by way of furtherassurance for the above mentioned purpose, where the principalor primary security is duly stamped.	Five hundred rupees.
36.	MORTGAGE 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.	Ten rupees.
37.	NOTARIAL ACT, that is to say, any instrument,endorsement, note, attestation, certificate or entry not being aprotest (No.44) executed by a Notary public in the execution ofthe duties of his office, or by any other person lawfully actingas a Notary public.	Ten rupees.
38.	NOTE OR MEMORANDUM, sent by a broker or agentto his principal intimating the purchase or sale on account ofsuch principal -
	(a) of any goods exceeding in value onethousand rupees;	One rupee for every Rs. 10,000 or part thereof, of the value.
	(b) of any share, scrip, stock, bond,debenture, debenture-stock or other marketable security of alike nature exceeding in value one thousand rupees, not being aGovernment Security;	One rupee for every Rs. 10,000 or part thereof,of the value of security.
	(c) of a Government Security.	One rupee for every Rs. 10,000 or part thereofof the value of the security, subject to maximum of one thousandrupees.
39.	PARTITION - Instrument of.	Two percent of the amount of the market valueof the separated share or shares of the property.
		Note- The largest share remaining after theproperty is partitioned (or if there are two or more shares ofequal value and not smaller than any of the other share, thenone of such equal shares) shall be deemed to be that from whichthe other shares are separated:
		Provided that -
		(a) when aninstrument of partition containing an agreement to divideproperty in severalty is executed and a partition is effected inpursuance of such agreement, the duty chargeable upon theinstrument effecting such a partition shall be reduced by theamount of duty paid in respect of the first instrument, butshall not be less than one hundred rupees;
		(b) where theinstrument relates to the partition of agricultural landexclusively, the market value for the purpose of duty shall becalculated at hundred times the annual land revenue;
		(c) where a finalorder for effecting a partition passed by any Revenue-authorityor Civil Court or an award by an arbitrator directing apartition, is stamped with the stamp required for an instrumentof partition and an instrument of partition in pursuance of suchorder or award is subsequently executed, the duty on suchinstrument shall not exceed one hundred rupees.
40.	PARTNERSHIP
	A. Instrument of -
	(a) where there isno share of contribution in partnership or where such share ofcontribution does not exceed Rs. 50000;	One thousand rupees;
	(b) where suchshare of contribution is in excess of Rs. 50000.	Two percent of the value or amount of sharescontributed, subject to a maximum of rupees five thousand.
	B. Dissolution of partnership or retirement ofa partner or -
	(a) Where ondissolution of partnership or on retirement of a partner, anyimmovable property is taken as his share by a partner other thana partner who brought in that property as his share ofcontribution in the partnership;	The same duty as a conveyance (No. 18) on themarket value of such property;
	(b) In any othercase.	Five hundred rupees.
41.	POLICY OF INSURANCE-
	A. FIRE INSURANCE AND OTHER CLASSES OFINSURANCE, not elsewhere included in this article, coveringgoods, merchandise, personal effects, crops and other propertyagainst loss or damage-
	(1) in respect oforiginal policy;	Ten rupees.
	(2) in respect ofeach receipt for any payment of a premium on any renewal of anoriginal policy.	One half of the duty payable in respect of theoriginal policy in addition to the amount, if any, chargeableunder Article No. 54.
	B. ACCIDENT AND SICKNESS-INSURANCE-
	(1) in respect ofan original policy-
	(i) againstaccident on any conveyance valid for a single journey or voyageonly;	Ten rupees.
	Exemption- Whenissued to a passenger traveling by the second class in anyrailway.
	(ii) againstaccident valid for more than a single journey or voyage orsickness.	Ten paise for every Rs. 1,000 or part thereofof maximum amount which may become payable under it, subject toa minimum of ten rupees:
	Provided that, in case of a policy of insuranceagainst death by accident when the annual premium payable doesnot exceed Rs. 2.50 per Rs. 1,000, the duty on such instrumentshall be five paise for every Rs. 1,000 or part thereof, themaximum amount which may become payable under it.
	(2) in respect ofeach receipt for any payment of a premium on any renewal of anoriginal policy.	One half of the duty payable in respect of theoriginal policy in addition to the amount, if any, chargeableunder Article No. 54.
	C. INSURANCE BY WAY OF INDEMNITY againstliability to pay damages on account of accidents to workmenemployed by or under the insurer or against liability to paycompensation under the workmen compensation Act, 1923 -
	(1) in respect oforiginal policy;	Ten paise for every Rs. 100 or part thereofpayable as premium.
	(2) in respect ofeach receipt for any payment of a premium on any renewal of anoriginal policy.	One half of the duty payable in respect of theoriginal policy in addition to the amount, if any, chargeableunder Article No. 46.
	D. LIFE INSURANCE OR GROUP INSURANCE OR OTHERINSURANCE NOT SPECIFICALLY PROVIDED FOR except such aRE-INSURANCE as is described in Division E of this article.
	Exemption- Policies of life insurance grantedby the Director General of Post-Offices in accordance with rulesfor Postal life Insurance issued under the authority of theCentral Government.	Twenty paise for every Rs. 1,000 or partthereof, subject to a minimum of ten rupees.
		[N.B..- If a policy of group insurance isrenewed or otherwise modified whereby the sum insured on whichstamp duty has been paid, the proper stamp must be borne on theexcess sum so insured.]
	E. RE-INSURANCE BY AN INSURANCE COMPANY, whichhas granted a policy of the nature specified in Division A orDivision B of this Article, with another company by way ofindemnity or guarantee against the payment on the originalinsurance of a certain part of the sum insured thereby.	Ten rupees.
	General Exemption
	Letter of cover orengagement to issue a policy of insurance:
	Provided that, unless such letter or engagementbears the stamp prescribed by this Act for such policy, nothingshall be claimable thereunder, nor shall it be available for anypurpose, except to compel the delivery of the policy thereinmentioned.
42.	POWER OF ATTORNEY, [as defined by Section2(21)], not being a proxy (No. 45) –
	(a) when authorizing one person or more to actin a single transaction, including a power of attorney executedfor the sole purpose of procuring the registration of one ormore documents in relation to a single transaction or foradmitting execution of one or more such documents;	One hundred rupees.
	(b) when authorizing one person to act in morethan one transaction or generally, or not more than ten personsto act jointly or severally in more than one transaction orgenerally;	One hundred rupees.
	(c) when given for consideration andauthorizing the agent to sell any immovable property;	The same duty as a conveyance (No. 18) on themarket value of the property.
	(d) when given without consideration to aperson other than the father, mother, wife or husband, son ordaughter, brother or sister in relation to the executant andothorising such person to sell immovable property situated inJammu and Kashmir.	The same duty as a conveyance (No. 18) on themarket value of the property which is the subject matter ofpower of attorney.
	(e) in any other case.	One hundred rupees for each person authorised.
	Explanation I- For the purpose of this article,more persons than one when belonging to the same firm shall bedeemed to be one person.
	Explanation II-The term 'registration' includesevery operation incidental to registration under theRegistration Act, Samvat 1977.
43.	PROMISSORY NOTE, [as defined by Section 2 (22)]
	(a) When payable on demand;	Rs. 10/-
	(b) When payable otherwise than on demand.	One fifth of the duty as applicable to a Billof Exchange (No. 12) for same amount payable otherwise than ondemand, subject to a minimum of ten rupees.
44.	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.
45.	PROXY empowering any person to vote at any oneelection of the members of a local authority, or at any onemeeting of (a) members of an incorporated company or other bodycorporate whose stock or funds is or are divided into shares andtransferable, (b) a local authority,(c) proprietors, members orcontributors to the funds of any institution or (d) creditors.	Ten rupees
46.	RECEIPT as defined by Section 2(23) for anymoney or other property the amount or value of which exceeds onehundred rupees.	Two rupees.
	Exemptions
	Receipt-
	(a) endorsed on orcontained in any instrument duly stamped or any instrumentexempted under the proviso to Section 3 (instruments executed onbehalf of the Government) or any cheque or bill of exchangepayable on demand acknowledging the receipt of the considerationmoney, interest or annuity or other periodical payment therebysecured;
	(b) for any paymentof money without consideration;
	(c) for any paymentof rent by a cultivator on account of land assessed toGovernment revenue;
	(d) for pay orallowances by non-commissioned officers or soldiers of the army,when serving in such capacity, or by mounted police constables;
	(e) given byholders of family certificates in cases where the person fromwhose pay or allowances the sum comprised in the receipt hasbeen assigned is a non-commissioned officer, solider and servingin such capacity;
	(f) for pensions orallowances by persons, receiving such pensions or allowances inrespect of their service as such non-commissioned officers orsoldiers and not serving the government in any other capacity;
	(g) given by aheadman or lambardar for land revenue or taxes collected by him;
	(h) given for moneyor securities for money deposited in the hands of any banker tobe accounted for:
	Provided that the same is not expressed to bereceived of, or by the hands of, any other than the person towhom the same is to be accounted for:
	Provided also that this exemption shall notextend to a receipt or acknowledgement for any sum paid ordeposited for or upon a letter of allotment of a share, or inrespect of a call upon any scrip or share of, or in, anyincorporated company or other body corporate or such proposed orintended company or body or in respect of a debenture being amarketable security.
47.	RECONVEYANCE OF MORTGAGED PROPERTY.	Five hundred rupees.
48.	RELEASE, that is to say, any instrument (notbeing such a release as is provided for by section 23A) wherebya person renounces a claim upon another person, or against anyspecified property.	Two percent on the market value of the share ofthe property over which the claim is relinquished, whichever ishigher.
49.	SECURITY BOND OR MORTGAGE DEED, where suchsecurity bond or mortgage deed is executed by way of securityfor the due execution of an office or to account for money orother property received by virtue thereof, or is executed by asurety to secure the due performance of a contract, or inpursuance of an order of the Court or public officer, not beingotherwise provided for by the Court Fees Act.	Five hundred rupees.
	Exemptions -
	Bond or other instrument, when executed-
	(a) by any personfor the purpose of guaranteeing that the local income derivedfrom private subscriptions on a charitable dispensary orhospital or any other object of public utility shall not be lessthan a specified sum per mensem;
	(b) by personstaking advances under the agriculturist loans or by theirsureties as security for the repayment of such advances;
	(c) by officers ofthe Government or their sureties to secure the due execution ofan office or the due accounting for money or other propertyreceived by virtue thereof.
50.	SETTLEMENT -
	A. INSTRUMENT OF (including a deed of dower).	Two percent of the amount of market value of the propertysettled:
		Provided that, where an agreement to settle isstamped with the stamps required for an instrument of settlementand an instrument of settlement in pursuance of such agreementis subsequently executed, the duty on such instrument shall notexceed one hundred rupees.
	Exemption :-
	Deed of dower executed on the occasion of or inconnection with the marriage between Mohammedans, whether thedeed was executed before or after the marriage.
	B. REVOCATION OF.	Five hundred rupees.
51.	SHARE WARRANTS, to bearer issued under theCompanies Act.	The same duty as a conveyance (No. 18) for amarket value equal to the nominal amount of the shares specifiedin the warrant.
	Exemption :-
	Share warrant when issued by a Company inpursuance of the Companies Act, to have effect only uponpayment, as composition for that duty to the Collector ofStamp-revenue, of-
	(a) one and a halfpercentum of the whole subscribed capital of the company; or
	(b) if any companywhich has paid the said duty or composition in full,subsequently issues an addition to its subscribed capital-oneand a half percentum of the additional capital so issued.
52.	SHIPPING ORDER, for or relating to theconveyance of goods on board of any vessel.	Ten rupees.
53.	SURRENDER OF LEASE,	Five hundred rupees.
	Explanation- For the purposes of this articleit is immaterial that the surrender of the lease is only asregards the unexpired part of the term, or is with regard toonly a portion of the property.
	Exemption - Surrender of lease, when such leaseis exempted from duty.
54.	TRANSFER- (Whether with or withoutconsideration)
	(a) of shares in an incorporated company orother body corporate;	Twenty five paise for every hundred rupees orpart thereof of the value of the shares.
	(b) of debentures, being marketable securities,whether the debenture is liable to duty or not;	Fifty paise for every hundred rupees or partthereof of the consideration amount of debentures.
	(c) of any interest secured by a bond, mortgagedeed or policy of insurance;	The same duty as a Bond (No. 13) for suchamount of value of the interest subject to a maximum of fivehundred rupees.
	Exemption :-
	Transfers by endorsement-
	(a) of a bill ofexchange, cheque or promissory note;
	(b) of a deliveryorder, warrant for goods, or other mercantile document of titleto goods;
	(c) of a policy ofinsurance;
	(d) of securitiesGovernment of India.
55.	TRANSFER OF LEASE, by way of assignment and notby way of under lease.	The same duty as a conveyance (No. 18) on themarket value of the property which is the subject matter of thetransfer.
		Explanation- In case of assignment of a mininglease, the market value shall be equal to the amount or valuecalculated under article 29 depending upon the period of thelease assigned.
	Exemption :-
	Transfer of any lease exempt from duty.
56.	TRUST -
	A. DECLRATION OF – of, or concerning anyproperty when made by any writing not being a will
	(a) where there isdisposition of property;	Two percent of the market value of the property settled.
	(b) in any othercase;	Five hundred rupees.
	B. REVOCATION OF, or concerning any propertywhen made by any instrument other than a will.	Five hundred rupees.
57.	WARRANT FOR GOODS, that is to say, anyinstrument evidencing the title of any person therein named, orhis assigns or the holder thereof to the property in any goodslying in or upon any dock, warehouse or wharf, such instrumentbeing signed or certified by or on behalf of the person in whosecustody such goods may be.	Ten rupees.
58.	Entry as an Advocate of the High Court	One thousand rupees.

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State of Jammu-Kashmir - Section

Section 79 in The Stamp Act, 1977 (1920 A. D.)

79.