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State of Andhra Pradesh - Section

Section 69 in Andhra Pradesh Panchayat Raj Act, 1994

69. Duty on transfers of property.

(1)The duty on transfers of property shall be levied by the Government-
(a)in the form of a surcharge on the duty imposed by the Indian Stamp Act, 1899 (Central Act 2 of 1899) as in force for the time being in the State, on every instrument of the description specified below, in so far as it relates to the whole or part of immovable property as the case may be, situated in the area under the jurisdiction of a Gram Panchayat; and
(b)at such rate as may be fixed by the Government not exceeding five percentum on the amount specified below against such instrument:
  Description of instrument Amount on which duty shall be levied
  (1) (2)
(i) Sale of immovable property The amount of value of the consideration for thesale as set forth in the instrument or the market value of theproperty which is the subject matter of the sale, whichever ishigher.
(ii) Exchange of immovable property The market value of the property of greatervalue which is the subject matter of exchange.
(iii) Gift of immovable property The market value of the property which is thesubject matter of the gift.
(iv) Mortgage with possession of immovable property The amount secured by the mortgage as set-forthin the instrument
(v) Lease for a term exceeding one hundred years orin perpetuity of immovable property An amount equal to one-sixth of the whole amountor value of the rents which would be paid or delivered in respectof the first fifty years of the lease, as set-forth in theinstrument.
(2)On the introduction of the duty aforesaid-
(a)Section 27 of the Indian Stamp Act, 1899 (Central Act 2 of 1899) shall be read as if it specifically required the particulars to be set-forth separately in respect of property situated in the area under the jurisdiction of a Gram Panchayat and in respect of property situated outside such area; and
(b)Section 64 of the same Act shall be read as if it referred to the Gram Panchayat as well as the Government.
(3)The duty levied under this Section shall be apportioned among the Gram Panchayat, [Mandal Praja Parishad] [Substituted 'Mandal Parishad' by Act No. 41 of 2006, dated 23.9.2006.] and the [Zilla Praja Parishad] [Substituted 'Zilla Parishad' by Act No. 41 of 2006, dated 23.9.2006.] concerned in such manner as may be prescribed.
(4)The Government shall make rules for regulating the collection of the duty and the apportionment thereof among the Gram Panchayat, [Mandal Praja Parishad] [Substituted 'Mandal Parishad' by Act No. 41 of 2006, dated 23.9.2006.] and [Zilla Praja Parishad] [Substituted 'Zilla Parishad' by Act No. 41 of 2006, dated 23.9.2006.] concerned and the deduction of any expenses incurred by the Government in the collection thereof.
(5)The Government may by order exempt, subject to such conditions and terms as may be specified therein, any instrument or class of instruments from the levy of duty under this Section.