207. Increase of stamp duty for a taluka panchayat.
(1)A taluka panchayat may, by resolution passed at its meeting, apply to the State Government for increasing the rate of stamp duty leviable under the Bombay Stamp Act, 1958 (Bombay LX of 1958), on instruments of sale, mortgage, lease or any other kind of transfer on immovable property situated within the limits of the taluka, to such extent as not exceed 15 per cent of the rate of duty so leviable and specified in the resolution.(2)Notwithstanding anything contained in the Bombay Stamp Act, 1958(Bombay LX of 1958), on receipt of an application under sub-section (1) the State Government shall by notification published in the Official Gazette direct that the rate of stamp duty on the class of instruments specified in the notification and affecting the immoveable property situated within the taluka shall be increased to the extent specified in the notification with effect from the date specified in the notification and thereupon the rate of stamp duty shall stand increased accordingly.(3)For the purpose of this section, section 28 of the Bombay Stamp Act, 1958, (Bombay LX of 1958) shall be read as if it specifically required the particulars therein referred to be forth separately in respect of-(a)property situated in the jurisdiction of any taluka panchayat: and(b)property not situated in the jurisdiction of any taluka panchayat.(4)The increase in stamp duty in respect of any class of instruments under this section shall be in addition to any increase made therein in respect of the same class of instruments for a district panchayat under section 209.(5)The State Government shall, every year after due appropriation made by law in this behalf, pay to the taluka panchayat from the Consolidated Fund of the State, a grant-in-aid approximately equal to the extra duty realised under sub-section (1) in respect of properties situated within the jurisdiction of the taluka panchayat.
