Matching Fragments
Description of instrument Amount on which duty
should be levied
(i) Sale of immovable The amount or value of the
property. consideration for the sale,
as set forth in the
instrument.
(ii) Exchange of immovable The value of the property
property. of the greater value, as set
forth in the instrument
(iii) Gift of immovable The value of the property,
property. as set forth in the
instrument.
(iv) Mortgage with possession The amount secured by the
of immovable property. mortgage as set forth in the
instrument.
(v) Lease in perpetuity of The amount equal to one-
immovable property sixth of the whole amount
or value of the rent which
would be paid or delivered
in respect of the first fifty
years of the lease as set
forth in the instrument.
(vi) Contract for transfer of Ninety per cent. Of the
immovable property value of the consideration
for the transfer as set out in
the contract.
8. Article 55 of the Schedule of the Indian Stamp Act defines the duty
for a release deed as follows:-
55. RELEASE, that is to say,
any instruments [(not being
such a release as is provided
for by section 23A)] whereby
a person renounces a claim
The same duty as a Bond (No.
upon another person or
15) for such amount or value
against any specified as set forth in the Release.
