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[Cites 0, Cited by 0] [Section 93] [Entire Act]

NCT Delhi - Subsection

Section 93(2) in The New Delhi Municipal Council Act, 1994

(2)The said duty shall be levied-
(a)in the form of a surcharge on the duty imposed by the Stamp Act, 1899 (2 of 1899 ) as in force for the time being in the National Capital Territory of Delhi, on every instrument of the description specified below, and
(b)at such rate as may be determined by the Council not exceeding five per cent on the amount specified below against such instruments:
Description of instrument Amount on which duty should be levied
(i) Sale of immovable property. The amount of value of the consideration for the sale, as setforth in the instrument.
(ii) Exchange of immovable property. The value of the property of the greater value, as set forthin the instrument.
(iii) Gift of immovable property. The value of the property as set forth in the instrument.
(iv) Mortgage with possession of immovable property. The amount security by the mortgage as set forth in theinstrument.
(v) Lease in perpetuity of immovable property. The amount equal to one sixth of the whole amount or value ofthe rent which would be paid or delivered in respect of thefirst fifty years of the lease as set forth in the instrument.