Karnataka Stamp Act, 1957 Schedule 1 - Bare Act

30.

Lease of immovable property -

(1) Including an under lease or sub-lease and any agreement to let or sub-let,--

(a)

where by such lease, the rent is fixed and no premium is paid or

delivered, --

(i)

where the lease purports to be for a term of less than one year.

The same duty as a Bond (No. 12) for the total amount of

rent payable under such lease.

(ii)

where the lease purports to be for a term of not less one year, but

The same duty as a Bond (No. 12) for the amount or

not more than five years.

value of the average annual rent reserved.

(iii)

where the lease purports to be for a term of not less exceeding five

The same duty as a Conveyance (No. 20) for ¹⁶[the amount

years, but not exceeding ten years.

or value] equal to twice the amount or value of the

average annual rent reserved.

(iv)

where the lease purports to be for a term exceeding ten years, but

The same duty as a Conveyance (No. 20) for an amount

not exceeding twenty years

equal to three times the amount or value of the average

annual rent reserved.

(v)

where the lease purports to be for a term exceeding twenty years,

The same duty as a Conveyance (No. 20) for an amount

But not exceeding thirty years.

equal to four times the amount or value of the average

annual rent reserved.

(vi)

where the lease purports to be for a term exceeding thirty years or

The same duty as a ¹⁷[Conveyance (Article 20(1) )] for an

in perpetuity or does not purports to be for any definite term.

amount equal to the market value of the property.

(b)

where the lease is granted for a fine or a premium or for money

advanced and where no rent is reserved,--

(i)

where the lease purports to be for a term not exceeding thirty

The same duty as a Conveyance (No. 20), for the amount

years.

or value of such fine or premium or advance as set forth

in the lease.

(ii)

where the lease purports to be for a term exceeding thirty years or

The same duty as a ¹⁸[Conveyance Article 20 (1)] for the

in perpetuity or does not purports to be for any definite term

amount or value of such fine or premium or advance, ²⁷[as

set forth in the lease in addition to the duty which would

have been payable on such lease]or for an amount equal to

the market value of the property, whichever is higher

(c)

where the lease is granted for a fine or premium or for money advanced

in addition to rent reserved, --

(I)

where the lease purports to be for a term not exceeding thirty years

The same duty as a Conveyance (No. 20) for the amount

or value of such fine or premium or advance, as set forth

in the lease, in addition to duty which would have been

payable on such lease, if no fine or premium or advance

had been paid or delivered

(ii)

Where the lease purports to be for a term exceeding thirty years or

The same duty as a Conveyance Article 20 (1) for the

in perpetuity or does not purport to be for any definite term

amount or value of such fine or premium or advance as

set forth in the lease or for an amount equal to the market

value of the property whichever is higher:

Provided that, in any case when an agreement to lease is

stamped with the ad valorem stamp required for a lease

and a lease in pursuance of such agreement is

subsequently executed, the duty on such lease shall not

exceed rupees fifty:

Provided further that the duty in respect of an instrument

of lease chargeable under Article 30(a)(iv), Article 30(b)

(ii) and Article 30(c )(ii), effected by the Bangalore

Development Authority constituted under the Bangalore

Development Authority Act, 1976 (Karnataka Act No. 12

of 1976), the Urban Development Authority constituted

under the Karnataka Urban Development Authorities

Act, 1987 (Karnataka Act No. 34 of 1987), The Karnatakaa

Housing Board At, 1962 (Karnataka Act No. 10 of 1963),

the Improvements Board constituted under the

Karnataka Improvements Boards Act, 1976 (Karnataka Act

No. 11 of 1976), Department of Mines and Geology, the

Forest Department, Karnataka Industrial Area

Development Board established under the Karnataka

Industrial Area Development Board Act, 1966 (Karnataka

Act No. 18 of 1966), The Karnataka Small Scale

Industries Development Corporation, Karnataka State

Electronics Developments Corporation, Registered as a

company under the Companies Act, 1956 (Central Act

No. 1 of 1956), the Karnataka agricultural Produce

Market Committee constituted under the Karnataka

Agricultural Produce Marketing (Regulation) Act,

1966 (Karnataka Act No. 27 of 1966) and other authorities

as may be specified by the Government, shall be payable

as a conveyance under clause (1) of Article 20 for a

market value equal to the total rent to be paid through

the lease period, or as a conveyance under clause (1) of

Article 20 for a market value equal to the amount of

premium or money advanced or fine where no rent is

reserved, or as a conveyance under clause (1) of Article

20 for a market value equal to the amount of premium or

money advanced or fine together with the total rent as

set forth in the lease deed as the case may be:

Provided further that the duty in respect of an instrument

of lease chargeable under Article 30(a), (v) and (vi),

Article 30(b)(ii) and Article 30(c)(ii), effected by the

Bangalore Development Authority constituted under the

Bangalore Development Authority Act, 1976 (Karnataka

Act No. 12 of 1976), the Urban Development Authority

constituted under the Karnataka Urban Development

Authorities Act, 1987 (Karnataka Act No. 34 of 1987), the

Karnataka Housing Board, constituted under the

Karnataka Housing Board Act, 1962 (Karnataka Act No.

10 of 1963), the Improvements Board constituted under

the Karnataka Improvements Boards Act, 1976 (Karnatakaa

Act No. 11 of 1976), Department of Mines and Geology,

Forest Department, Karnataka Industrial Area

Development Board established under the Karnataka

Industrial Area Development Board Act, 1966 (Karnataka

Act No. 18 of 1966), The Karnataka Small Scale Industries

Development Corporation, the Karnataka State Industrial

Investment Development Corporation, Karnataka State

Electronics Development Corporation, registered as a Company under the

Companies Act, 1956 (Central Act No. 1 of 1956), the

Karnataka Agricultural Produce Market Committee

constituted under the Karnataka Agricultural Produce

Marketing (Regulation) Act, 1966 (Karnataka Act No. 27

of 1966) and other authorities as may be specified by the

Government, shall be payable as the case may be in the

following manner :-

a) as per Item No. (v) of sub-clause (a)of clause (1),

whereby such lease the rent is fixed and no premium

is paid;

b) as per Item No. (i) of sub-clause (b) of clause (1)

where the lease is granted for a fine or premium or

money advanced and where no rent is reserved;

c) as per Item No. (i) of sub-clause (c ) of clause (1) where

The lease is granted for a fine or premium or money

advanced in addition to rent reserved:

¹⁹[Explanation:- If, the advance is refundable the duty shall

be as per Article 47.]

Provided also that the duty in respect of an instrument of

lease executed in favour of the wife, husband, father,

mother, son, daughter, brother or sister in relation to the

person shall be rupees one thousand

(2)

Lease of movable property including an under lease or sublease and

any agreement to let or sub-let, --

(a)

where by such lease the rent is fixed and no premium is paid or

Delivered, --

(i) where the lease purports to be for a term not exceeding ten

One rupee for evey hundred rupees or part thereof on the

years

average annual rent reserved, subject to a maximum of

rupees two lakhs

(ii) where the lease purports to be for a term exceeding ten years

One rupee and fifty paise for every hundred rupees or

part thereof on the average annual rent reserved, subject

to a maximum of rupees two lakhs

(b)

where the lease is granted for a fine or premium or for money

One rupee and fifty paise for every hundred or part

advanced and where no rent is reserved

thereof on the amount of such fine or premium or advance

as setforth in the lease, subject to a maximum of rupees

two rupees two lakhs

(c)

where the lease is granted for a fine or premium or for money

One rupee and fifty paise for every hundred rupees or

advanced in addition to rent reserved

part thereof on the amount of such fine or premium or

advance as set forth in the lease, in addition to the duty

which would have been payable on such lease, if no fine

or premium or advance had been paid or delivered,

subject to a maximum of rupees two lakhs:

Provided that in respect of lease of industrial machinery

the maximum duty chargeable shall be rupees ten

Thousand

Provided further that in any case when an agreement to

lease is stamped with ad valorem stamp required for a

lease and a lease in pursuance of such agreement is

subsequently executed, the duty on such lease shall not

exceed rupees fifteen.

Exemption: lease executed in the case of a cultivator and for the

purpose of cultivation (including a lease of trees for the production of

food or drink) without the payment or delivery of any fine or premium

when a definite term is expressed and such term does not exceed one

year or when the average annual rent reserved does not exceed one

hundred rupees.

²⁸[xxxxxx]

²⁹[ (d) where the lease is granted for a rent or fine or premium or money

Aaaa in addition to the refundable deposit, by whatever name called,-

(i) where the lease purports to be for a term not exceeding 30 years

One percent on the amount of deposit as set forth in the lease

deed in addition to the duty, which would have been payable on

such lease as per article 30(a), 30 (b) or 30 (c) as the case may

be.

(ii) where the lease purports to be for a term exceeding 30 years

Three percent on the amount of deposit as set forth in the lease

deed in addition to the duty payable as per article 30(a), 30 (b)

or 30 (c) as the case may be or for an amount equal to the

Market value of the property whichever is higher.]

31.

Letter of allotment of shares, in any company or proposed company or in

²⁰[One rupee]

Respect of any loan to be raised by any company or proposed company

See also Certificate or other document (No. 16), Letter of guarantee - See

Agreement (No. 5)

32.

Letter of Licence -- that is to say, any agreement between a debtor and his

²¹[One hundred rupees]

creditors that the letter shall for a specified time, suspend their claims and

allow the debtor to carry on business at his own discretion.

32-A.

Licence of immovable or movable property -- that is to say licence granted by

owner of authority for rent or fee or by whatever name it is called, --

(a)

where by such licence granted for rent or fee or by whatever name it is

called, --

(i)

where the licence purports to be for a term of less than one year

The same duty as a Bond (No. 12) for the whole amount

Payable or deliverable under such licence

(ii)

where the licence purports to be for a term of not less than one

The same as a Bond (No. 12) for the amount or value of

year but not more than five years

the average annual rent or fee or by whatever name it is

called.

(iii)

where the licence purports to be for a term of not less than five

The same duty as a Conveyance (No. 20) for the amount

years but not exceeding ten years

or value of the average annual rent or fee or by

whatever name it is called

(iv)

where the licence purports to be for a term exceeding ten year but

The same duty as a Conveyance (No. 20) for twice the

not exceeding twenty years

amount of annual rent or fee or by whatever name it is

Called

(v)

where the licence purports to be for a term exceeding twenty years

The same duty as a Conveyance (No. 20) for thrice the

but not exceeding thirty years

average amount or rent or fee or by whatever name it is

Called

(b)

where the licence is granted for a lump sum amount advanced and where

The same duty as a Conveyance (No. 20) for the whole

no rent or fee or by whatever name it is called is reserved

lump sum amount advanced as set forth in the licence

(c)

where the licence is granted for a lump sum amount advanced in addition

The same duty as a Conveyance (No. 20) for the lump

to rent or fee or by whatever name it is called

sum amount advanced as set forth in the licence in

addition to the duty which would have been payable on

such licence, if no lump sum amount advanced had

been paid or delivered.

33.

Memorandum of Association of a Company, --

(a)

if accompanied by Article of association under Section 26 of the

²²[One thousand rupees]

Companies Act 1956 (Central Act No. 1 of 1956)

(b)

if not so accompanied

The same duty as under Article (No. 10) According to

the share capital of the company

Exemption. -- Memorandum of any Association not formed for profit and

registered under Section 25 of the Companies Act, 1956 (Central Act No. 1 of

1956).

34.

Mortgage deed, not being an agreement relating to deposit of title deeds,

pawn or pledge (No. 6), Bottomry bond (No. 13),

Mortgage of a crop (No. 35), Respondentia bond (No. 46) or Security bond

(No. 47), --

(a)

when a possession of the property or any part of the property

(The same duty as a Conveyance (No. 20) for a market

comprised in such deed is given by the mortgagor or agreed to be

value equal to the amount secured by such deed

given

(b)

when possession is not given or agreed to be given as aforesaid

²³[Fifty paise for every hundred rupees or part thereof for the amount

and not being a hypothecation

secured by such deed]

Explanation. -- A mortgagor who gives to the mortgagee a power of attorney

to collect rents or a lease of the property mortgaged or part thereof is deemed

to give possession thereof within the meaning of this article.

(c)

When a collateral or auxiliary or additional or substituted security,

or by way of further assurance for the above mentioned purpose,

where the principal or primary security is duly stamped:

(i) for every sum secured not exceeding Rs. 1,000

²⁴[Ten rupees]

(ii) for every Rs. 1,000 orpart thereof, secured in excess of Rs. 1,000

²⁵[Ten rupees plus one rupee for every rupees one thousand or part thereof in

excess of rupees one thousand]

(d)

For hypothecation of movable property

Ten rupees for every ten thousand rupees or part

thereof advanced, subject to a maximum of rupees ten

thousand

Exemptions. --

(1)

Instruments executed by persons taking advances under the

Karnataka Land Improvement Loans Act, 1963 (Karnataka Act No.

16 of 1963), the Karnataka Agriculturists' Loans Act, 1963

Karnataka Act No. 17 of 1963) or by their sureties as security for

the repayment of such advances.

(2)

Letter of hypothecation accompanying a bill of exchange

35.

Mortgage of a crop -- including any instrument evidencing an agreement to

Secure the repayment of a loan made upon any mortgage of a crop whether

the crop is or is not in existence at the time of the mortgage, --

(a)

when the loan is repayable not more than three months from the date of

the instrument --

for every sum secured not exceeding Rs. 200 and

Fifty paise

for every Rs. 200 or part thereof secured in excess of Rs. 200

Fifty paise

(b)

when the loan is repayable more than three months but not more than

eighteen months from the date of the instrument --

for every sum secured not exceeding Rs. 100 and

²⁶[Fifty paise]

for every Rs. 100 or part thereof secured in excess of Rs. 100

²⁶[Fifty paise]

36.

Notarial Act -- that is to say, any instrument, endorsement, note attestation,

Ten rupees

certificate or entry not being a protest (No. 42) made or signed by a Notary

Public in the execution of the duties of his office or by any other person

lawfully acting as a Notary Public

See also Protest of bill or note (No. 42)

37.

Note or memorandum -- sent by a Broker or Agent to his principal intimating

the purchase or sale on account of such principal, --

(a)

of any goods exceeding in value twenty rupees

One rupee for every rupees ten thousand or part thereof

(b)

of any share, scrip, stock, bond, debenture, debenture stock or other

One rupee for every rupees ten thousand or part thereof

marketable security of a like nature exceeding in value twenty rupees,

of the value of the security, at the time of its purchase or

not being a Government security

sale, as the case may be

(c)

of a Government Security

One rupee for every rupees ten thousand or part thereof

of the value of the security, at the time of its purchase or

sale, as the case may be, subject to a maximum of one

thousand rupees.

Exemptions. --

(1)

Note or memorandum sent by a Broker or Agent to his principal

intimating the purchase or sale on account of such principal or a

Government security or a share, scrip, stock, bond, debenture,

debenture stock or other marketable security of like nature in or of any

incorporated company or other body corporated, an entry relating to

which is required to be made in clearance lists described in clause

(1), (2) and (3) of Article No. 18-A.

(2)

Note or memorandum sent by a Broker or Agent to his principal in any

of any of the above cases, when the amount stated in the instrument is

less than rupees one hundred.

Amount or value of such fine or premium or advance, as

set forth in the lease or for an amount equal to the market

have been payable on such lease]or for an amount equal to

the market value of the property, whichever is higher