Act Info:
| 18A. | (1) | Clearance list relating to the transactions for the purchase or sale of | The sum of duties chargeable under Article No. 5(b) or | |||
| Government securities submitted to the clearing house of a stock | Article No. 37(e), as the case may be in respect of each | |||||
| exchange | of the entries in such list on the value of the securities | |||||
| calculated at the making up price or the contract price as | ||||||
| the case may be | ||||||
| (2) | Relating to the transactions for the purchase or sale of a share, scrip, | The sum of duties chargeable under Article 5(e)(i) or | ||||
| stock, bond, debenture, debenture stock or other marketable security | article No. 37(e), as the case may be in respect of each | |||||
| of a like nature in or of any incorporated company or other body | of the entries in such list on the value of the securities | |||||
| corporate submitted to the clearing house of a stock exchange | calculated at the making up price or the contract price as | |||||
| recognised under the Securities Contracts (Regulation) Act, 1956 | the case may be | |||||
| (3) | Relating to the transactions for the purchase or sale of a share, scrip, | The sum of duties chargeable under Article 5(c)(i) or | ||||
| stock, bond, debenture, debenture stock or other marketable security, | Article No. 37(b), as the case may be in respect of each | |||||
| of a like nature in or of any incorporated company or body corporate, | of the entries in such list on the value of the securities | |||||
| submitted to the clearance house of a stock exchange, not recognised | calculated at the making up price or the contract price | |||||
| under the Securities Contract (Regulation) Act, 1956 | as the case may be | |||||
| 19. | Composition deed, that is to say, any instrument executed by a debtor, | 16[One hundred rupees] | ||||
| whereby he conveys his property for the benefit of his creditors, or whereby | ||||||
| payment of a composition or dividend on their debts is secured to the | ||||||
| creditors or whereby provision is made for the continuance of the debtors' | ||||||
| business, under the supervision of inspectors or under letters of licence, for | ||||||
| the benefit of his creditors | ||||||
| (1) | For Conveyance, as defined by clause (d)of section 2, not being a transfer | |||||
| Charged or exempted under No. 52, on the market value of the property | Seven and half percent of the value] | |||||
| Which is the subject matter of conveyance | ||||||
| 11[xxx xxx xxx] | ||||||
| 29[Provided that where a conveyance is backed | Provided further that in any case where a lease-cum-sale | |||||
| by a valid title insurance policy issued by any | agreement is executed and is stamped with the ad | |||||
| Insurance Company recognized by Insurance Regulatory and | valorem stamp required for such agreement under Item | |||||
| Development Authority, the duty shall be 7% of | (d) of Article 5 and in furtherance of such agreement a | |||||
| the market value of the property.] | conveyance is subsequently executed, the duty on such | |||||
| conveyance shall not exceed rupees ten or the difference | ||||||
| of the duty already collected on the security deposit | ||||||
| under Item (d) of Article 5, whichever is greater | ||||||
| 19[Provided also that notwithstanding anything contrary in this Act, where | ||||||
| a lease-cum-sale agreement was executed before thirty first day of | ||||||
| March 2001 in respect of a site allotted by any House Building Co-operative | ||||||
| Society registered under the Karnataka Co-operative Societies Act, 1959 | ||||||
| (Karnataka Act 11 of 1959), and in furtherance of such agreement | ||||||
| a conveyance is subsequently executed, the duty payable on such | ||||||
| conveyance shall be on the market value of such site as on the date | ||||||
| of execution of the lease-cum-sale agreement.] | ||||||
| (2) | Where it relates to first instrument of conveyance executed by a | |||||
| promotor, a land owner, or a developer by whatever name called, | ||||||
| pertaining to premices of 'Flat' as defined in clause (a) of Section 2 of | ||||||
| the Karnataka Ownership Flats (Regulation of the Promotion of | ||||||
| Construction, Sale, Management and Transfer) Act, 1972 (Karnataka | ||||||
| Act 16 of 1973) or "apartment" as defined in clause (a) of Section 3 of | ||||||
| the Karnataka Apartment Ownership Act, 1972 (Karnataka Act 17 of | ||||||
| 1973) or transfer of share or in favour of Co-operative Society or | ||||||
| company pertaining to premises or Unit and the market value of the | ||||||
| property which is the subject matter of conveyance. | ||||||
| EXPLANATION: | ||||||
| (a) | Premises' means and includes undevided interest in the land | |||||
| building and proportionate share in the common areas | ||||||
| (b) | Unit' includes flat, apartment, tenement, block or any other unit by | |||||
| whatever name called, constructed or under construction in | ||||||
| accordance with the sanctioned plan by the authority competent to | ||||||
| sanction a building plan under any law for the time being in force; | ||||||
| (c) | Promoter' means a promoter as defined in clause (c) of Section 2 of | |||||
| Karnataka Ownership Flats (Regulation of the Promotion of | ||||||
| Construction, Sale, Management and Transfer) Act, (Karnataka | ||||||
| Act 16 of 1973) | ||||||
| (3) | Where any instrument of conveyance is effected by the Bangalore | The duty shall be payable at the rates specified under | ||||
| Development Authority constituted under Bangalore Development | clause (2) of Article 20 on the amount or value of | |||||
| Authority Act, 1976 (Karnataka Act No. 12 of 1976) the Karnataka | consideration as setforth in the instrument: | |||||
| Housing Board constituted under the Karnataka Housing board Act, | ||||||
| 1962 (Karnataka Act No. 10 of 1963) pertaining to premises of Flat or | Provided that in any case where a lease-cum-sale | |||||
| Apartment | agreement is executed and is stamped with the ad | |||||
| valorem duty required for such agreement under item | ||||||
| (da) of Article 5 and in furtherance of such agreement a | ||||||
| conveyance is subsequently executed, the duty on | ||||||
| such conveyance shall be exceed Rs. 50 or the | ||||||
| difference of the duty payable on such conveyance | ||||||
| and the duty already collected on the security deposit | ||||||
| under item (da) of Article 5, whichever is greater. | ||||||
| 30[(4) | If relating to an order made by the High Court under section 394 of the Companies Act, 1956 in respect of; | |||||
| (i) Amalgamation of Companies, including a subsidiary amalgamating with parent company | Same duty as a conveyance [under Article 20(1)] on the market value of the property of the transferor company, located within the State of Karnataka and transferred to the transferee company; or | |||||
| An amount equal to 0.7% of the aggregate value of shares issued or allotted in exchange, or otherwise and in case of a subsidiary company, shares merged (or cancelled) with parent company and in addition, the amount of consideration if any, paid for such amalgamation; -which ever is higher. | ||||||
| (ii) Reconstruction or Demerger of a company | Same duty as a conveyance [under Article 20(1)], on the market value of the property of the transferor company, located within the State of Karnataka, and transferred to the resulting company; or | |||||
| An amount equal to 0.7% of the aggregate value of shares issued or allotted to the resulting company and in addition, the amount of consideration if any, paid for such demerger or reconstruction; | ||||||
| - whichever is higher.] | ||||||
| 22[ | (5) | Conveyance relating to industrial Machinery whether treated as moveable or | Five per cent of the market value] | |||
| Immoveable property | ||||||
| (6) | If relating to assignment of receivables by the originator to the special | One rupees for every one thousand rupees or part | ||||
| purpose vehicle (SPV), or by whatever name they are called, in the | thereof subject to a maximum of rupees on lakh | |||||
| process of securitisation | ||||||
| 21. | Copy of extract , certified to be true copy or extract by or by order of any | |||||
| public officers and not chargeable under the law for the time being in force | ||||||
| relating to the Court Fees, -- | ||||||
| (I) | If the original was not chargeable with duty, or if the duty with which it | Five rupees | ||||
| was chargeable does not exceed five rupees | ||||||
| (ii) | in any other case | Ten rupees | ||||
| Exemption. -- | ||||||
| (a) | Copy of any paper which a public officer is expressly required bylaw to | |||||
| make or furnish for record in any public office or for any public purpose. | ||||||
| (b) | copy of, or extract from any register relating to the births, baptisms, | |||||
| namings, dedications, marriages, divorces, deaths or burials. | ||||||
| 22. | Counterpart or Duplicate - - of any instruments, chargeable with duty and in | |||||
| respect of which the proper duty has been paid, -- | ||||||
| (a) | if the duty with which the original instruments is chargeable does not | The same duty as payable on the original | ||||
| exceed four rupees and fifty paise | ||||||
| (b) | in any other case | 23[Fifty rupees] | ||||
| Exemption: Counter part of any lease granted to a cultivator when such lease | ||||||
| is exempted from duty | ||||||
| 23. | Customs bond, -- | |||||
| (a) | where the amount does not exceed Rs. 1,000 | The same duty as a Bond (No. 12) for such amount | ||||
| (b) | in any other case | 24[One hundred rupees] | ||||
| Declaration of any trust -- See Trust (No. 54) | ||||||
| 24. | Delivery -- order in respect of goods, that is to say, any instrument entitling | 13[xxx xxx xxx] | ||||
| any person, therein named, or his assigness or the holder thereof to the | ||||||
| delivery of any goods lying in any dock or port, in any warehouse in which | ||||||
| goods are stored or deposited on rent or hire, or upon any wharf such | ||||||
| instrument being signed by or on behalf of the owner of such goods upon | ||||||
| The sale or transfer of the property therein, | ||||||
| 14[(I) | Where the value of the goods does not exceeds Rs. 1000 | Rupees one | ||||
| (ii) | Where the value of the goods exceeds Rs. 1000, thereof | Rupees five for every rupees one thousand or part | ||||
| thereof ] | ||||||
| Deposit of title deeds -- See Agreement relating to deposit of title deeds, | ||||||
| pawn or pledge (No. 6). | ||||||
| Dissolution of partnership -- See Partnership (No. 40) | ||||||
| 25. | Divorce Instrument of, that is to say, any instrument by which any person | 25[One hundred rupees] | ||||
| effects the dissolution of his marriage. | ||||||
| Dower -- Instrument of -- See Settlement (No. 48) | ||||||
| Duplicate -- See Counterpart (No. 22) | ||||||
| 26. | Exchange of property -- instrument of extract -- See Copy (No. 21) | The same duty as a Conveyance (No. 20) for a market | ||||
| value equal to the market value of the property of | ||||||
| greatest value which is the subject-matter of exchange | ||||||
| 27. | Further charge -- instrument of -- that is to say, any instrument imposing a | |||||
| further charge on mortgaged property, -- | ||||||
| (a) | When the original mortgage is one of the description referred to in | The same duty as a Conveyance (No. 20) for a market | ||||
| caluse (a) of Article No. 34 (that is, with possession). | value equal to the amount of the further charge secured | |||||
| by such instrument | ||||||
| (b) | when such mortgage is one of the description referred in clause (b) of | |||||
| Article No. 34 (that is, without possession), -- | ||||||
| (i) | if at the time of execution of the instrument of further charge | The same duty as a Conveyance (No. 20) for a market | ||||
| possession of the property is given or agreed to be given under | value equal to the total amount of the charge (including | |||||
| such instrument | the original mortgage and any further charge already | |||||
| made) less the duty already paid on such original | ||||||
| mortgage and further charge | ||||||
| (ii) | if possession is not given and not being a hypothecation | 26[Fifty paise for every one hundred rupees for the amount of the | ||||
| further charge secured by such instrument.] | ||||||
| (iii) | for hypothecation | The same duty as sub-clause (d) of Article 34 for the | ||||
| amount of the further charge secured by such instrument | ||||||
| 28. | Gift -- Instrument of -- not being a Settlement (No. 48) or Will or Transfer | |||||
| (No. 52) | ||||||
| (a) | where the donee is not a family member of the donor | The same duty as a Conveyance (No. 20) for a market | ||||
| value equal to the market value of the property which is | ||||||
| the subject-matter of the gift: | ||||||
| Provided that where an instrument of gift contains any | ||||||
| provision for the revocation of the gift, the value of the | ||||||
| property which is the subject-matter of the gift, shall for | ||||||
| the purposes of duty be determined as if no such | ||||||
| provision were contained in the instrument | ||||||
| 15[(b) | where the donee is a member of the family of the donor | Rupees one thousand | ||||
| Explanation: Family in relation to the donor for this purpose means husband, | ||||||
| wife, son, daughter, 31[daughter-in-law, brothers, sisters] and grand children.] | ||||||
| 29. | Indemnity bond | |||||
| Inspectorship deed -- See Composition deed (No. 19) | The same duty as a Security bond (No. 47) for the same | |||||
| Amount | ||||||
| Act on, 6 of 1999 | ||||||
___________________________________________________________
10Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000
11Omitted by Act No. 6 of 2001, w.e.f. 1-4-2001.
*Previous Reference: Provided that in respect of any instrument of convenyance effected by the house Building co-operative sodelles, registered under the Karnataka co-operative Societies Act, 1959 (Karnataka Act No. 11 of 1959) insofar as it relates to allotment of buildigs or sites to their members, the duty shall be payable at the rates specified above on the amount or value of consideration for such conveyance as setforth in the instrument:
12Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000.
* Previous Reference : Where the Market value:--
I Does not exceed rupees 5,00,000 Four rupees for every hundred rupees or part thereof
II Exceeds rupees 5,00,000 but does not exceed rupees 15,00,000 Twenty thousand rupees plus six rupees for every hundred rupees or part thereof in excess of rupees 5,00,000
III Exceeds rupees 15,00.000 Eighty thousand rupees plus eight rupees or part thereof in excess of 15,00,000
13Omitted by Act No. 7 of 2000, w.e.f. 1-4-2000 the words Twenty paise
14Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000, for the words when such goods exceeds in value twenty rupees
15*Substituted by Act No. 6 of 2001, w.e.f. 1-4-2001.
*Previous Reference: (b) where the donee is a member of the family of the donor
(i) Where the market value is less than Rs. 50,000 - Rs. 500
(ii) Where the market value is Rs. 50,000 and above the less than Rs. 10 lakhs - 2% of the value
(iii) Where the market value is Rs. 10 lakhs and above but less than Rs. 20 lakhs - 3% of the value
(iv) Where the market value is Rs. 20 lakhs and above - 5% of the value
Explanation: Family in relation to the donor for this purpose means husband, wife sons and daughter]
#Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000
16Substituted by Act No. 8 of 2003 w.e.f 1-4-2003, for the words forty-five rupees
17Substituted by Act No. 8 of 2003 w.e.f 1-4-2003, for the words 10% of the value
18Substituted by Act No. 8 of 2003 w.e.f 1-4-2003, for the words 9% of the value
19Inserted by Act No. 8 of 2003 w.e.f 1-4-2003
20Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:
| (I) | 1 2[Where the market value | Two per cent of the |
| does not exceed rupees | value | |
| there lakhs.] | ||
| (ii) | Exceeds rupees three lakhs | Rupees six thousand |
| but does not exceed rupees | plus 3 per cent of the | |
| five lakhs. | value exceeding rupees | |
| three lakhs | ||
| (iii) | exceeds rupees five lakhss | Rupees 12,000/- plus |
| but does not exceed rupeesees | 6 per cent of the value | |
| ten lakhs | exceeding rupees five | |
| lakhs | ||
| (iv) | exceeds rupees ten lakhs,-- | |
| (a) if situated within the | Rupees 42,000/- plus 8 | |
| limits of Bangalore | per cent of the value | |
| Metropolitan Regional | exceeding rupees ten | |
| Development Authorityrity | lakhs | |
| (b) if situated in areas | Rupees 42,000/- plus 7 | |
| other than the limits of | per cent of the value | |
| Bangalore Metropolitantan | exceeding rupees ten | |
| Regional Developmentnt | lakhs | |
| Authority | ||
21Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:
Ten rupees for every rupees one thousand or part thereof, on the market value of the property of the transferor company, located in State of Karnataka and transferred to the transferee company on amalgamation
22Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:
| (5) | If relating to industrial machinery Exemption. -- | Two rupees for every rupees one hundred or part thereof | ||
| (i) | Sale of industrial machinery by the manufacturer or his authorised Agent | |||
| (ii) | Industrial machinery not exceeding the value of rupees twenty-five thousand. | |||
23Words thirty Rupees Substituted by Act No. 8 of 2003 w.e.f 1-4-2003.
24Words Eight Rupees Substituted by Act No. 8 of 2003 w.e.f 1-4-2003.
25Words Ten rupees Substituted by Act No. 8 of 2003 w.e.f 1-4-2003.
26Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:
The same duty as a Bond (No. 12) for the amount of further charge secured by such instrument, subject to a maximum of Rupees three lakhs
27Substituted by Act No. 7 of 2006 w.e.f 1-4-2006. Prior to substitution it read as under:
For Conveyance, as defined by clause (d) of Section 2, not being a transfer charged or exempted under No. 52, on the market value of the property which is the subject-matter of conveyance, if the property is situated within the limits of,--
(I) Bangalore Metropolitan Regional Development Authority 17[8% of the value]
(ii) City Corporation of City of Town Municipal Council or any Town 18[8% of the value] Panchayats other than the areas specified in item (I)
(iii) Any area other than areas specified in items (I) and (ii) 8% of the value
28 Substituted by Act No. 7 of 2006 w.e.f 1-4-2006. Prior to substitution it read as [Eight per cent of the value]
29. Inserted by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007.
30. Substituted by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007. Prior to substitution it was read as under:
| "(4) | If relating to an order made by the High Court under Section 394 of the Companies Act, 1956 in respect of amalgamation of companies | 21[Ten per cent of the aggregate market value Shares issued or allotted in exchange or otherwise and the Amount of consideration paid for such amalgamation: |
| Provided that, the amount of duty chargeable under this clause Shall not exceed | ||
| (i) an amount equal to 7 per cent of the market value | ||
| of the immovable property located within the State of Karnataka of the Transferor company; or | ||
| (ii) an amount equal to 0.7 per cent of the aggregate of the market | ||
| value of the shares issued or allotted in exchange or otherwise and | ||
| the amount of consideration paid for such amalgamation, whichever is higher: | ||
| Provided for that, in case of re-construction or demeger the duty chargeable | ||
| Shall not exceed,- | ||
| (i) an amount equal to 7 per centum of the market value of the immoveable property located within the state Karnataka transferred by the Demerging Company to the Resulting Company, or | ||
| (ii) an amount equal to 0.7 percentum of the aggregate of the market value of the shares issued or allotted to the Resulting Company and the amount of consideration paid for such demerger whichever is higher.] | ||
| Exemption. -- Amalgamation of sick companies with others, under the orders of Board of Industrial Finance and Reconstruction (BIFR)." |
31. Substituted for the words "daughter-in-law" by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007.