In respect of sales, a fee by way of poundage shall be charged upon the full amount of purchase money as follows :-(i)Where the sale relates to an interest in land used for agricultural purposes or of houses or other immovable property connected with such land or interest and used for agricultural purposes-On the first Rs. 1,000/- at 5 per cent.On the next Rs. 4,000/- at 3-1/2 per cent.On the rest, at 2 per cent.(ii)Where the sale relates to other property-(a)If the property be a negotiable instrument or a share in any public company or corporation, on the nominal value-1 percent on die first Rs. 1,000 and ½ percent on the rest.(b)In the case of other property-5 percent on the sale proceeds: Provided that no poundage fee shall be charged-(i)in respect of sales by a Receiver in insolvency matters, and(ii)in respect of property sold in execution of a decree by a liquidator appointed under Section 70 (1) of the Madhya Pradesh Co-operative Societies Act, 1960, when the property in purchased by the Co-operative Central Bank holding the decree.
