Bombay Stamp Act, 1958 Complete Act - Bare Act

BOMBAY
STAMP ACT, 1958

An Act to consolidate and amend the law relating to stamps and stamp duties in the State of Bombay Whereas it is expedient to consolidate and amend the law relating to stamps and rates of stamp duties other than those in respect of document specified in entry 91 of List-I in the Seventh Schedule of the Constitution of India in the State of Bombay; It is hereby enacted in the Ninth Year of the Republic of India as follows:-

1. For Statement of Objects and Reasons, see Bombay Government Gazette, 1958, Extra., Part V, p. 122. CHAPTER 1 PRELIMINARY

Section 1 Short title, extent and commencement

(1) This Act may be called the Bombay Stamp Act, 1958.

(2) It extends to the whole of the1 These words were substituted for the words "State of Bombay" by the Maharashtra Adaptation of laws Concurrect subjects) Order, 1960.[ State of Maharashtra ].

(3) It sh all come into force on such date as the State Government may, by notification in the Official Gazette, direct.

Section 2 Definitions

In this Act, unless there is anything repugnant in the subject or context,-

(a) "association" means any association, exchange, organisation or body of individuals, whether incorporated or not, established for the purpose of regulating and controlling business of the sale or purchase of, or other transaction relating to, any goods or marketable securities;

1 clause (b) was substituted, for the original by Mah.27 of 1985, S.2(a), w.e.f. 10-12-1985).(b) "banker" means an association, a company or a person who accepts, for the purpose of lending or investment, deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise;

(c) "bond" includes-

(i) any instrument whereby a person obliges himself to pay money to another on condition that obligation shall be void if a specified act is performed, or is not performed, as the case may be;

(ii) any instrument attested by a witness and not payable to order or bearer, whereby, a person obliges himself to pay money to another; and

(iii) any instrument so attested whereby a person, obliges himself to deliver grain or other agricultural produce to another;

2 This explanation was added by Mah. 27 of 1985, S.2(b),(w.e.f. 10-12-1985)Explanation.-Notwithstanding, anything contained in any law for the time being in force, for the purposes of this clause, "attested" in relation to an instrument, means attested by one or more witnesses each of whom has seen the executant sign or affix his mark to the instrument, or has seen some other person sign the instrument in the presence and by the direction of the executant, or has received from the executant a personal acknowledgement of his signature or mark or of the signature of such other person, and each of whom has signed the instrument in the presence of the executant; but it shall not be necessary that more than one of such witnesses shall have been present at the same time, and no particular form of attestation shall be necessary.

(d) "chargeable" means, as applied to an instrument, executed or first executed after the commencement of this Act, chargeable under this Act, and as applied to any other Instruments, chargeable under the law in force in the State when such Instrument was executed or, where several persons executed the instrument at different times, first executed;

3 Cl.(dd) was inserted by Bom.95 of 1958, S.2[(dd) "Chief Controlling Revenue Authority" means such officer as the State Government may, by notification in the Official Gazette, appoint in this behalf for the whole or any part of the 4 These words were substituted for the words "Bombay State", by Mah. Adaptation of Laws (State Concurrent Subjects) Order, 1960.[State of Maharashtra];]

(e) "clearance list" means a list of transactions relating to contracts required to be submitted to the clearing house of an association in accordance with the rules or bye-laws of the association:

Provided that no instrument shall, for the purposes of this Act, be deemed to be a clearance list unless it contains the following declaration signed by the person dealing in such transaction or on his behalf by a properly constituted attorney, namely:- "I/We hereby solemnly declare that the above list contains a complete and true statement of my/ our transactions 5 Cl.(b) was substituted for the original Cl(b) and (c) by Mah. 10 of 1965, S.3[including crossed out transactions and transactions required to be submitted to the clearing house in accordance with the rules/bye-laws of the association]. I/We further declare that no transaction for which an exemption is claimed under Article 5 or Article 43 in Schedule I to the Bombay Stamp Act, 1958, as the case may be, is omitted."

Explanation.-Transaction for the purpose for this clause shall include both sale and purchase;

(f) "Collector" means 6 The words "in Greater Bombay the Collector of Bombay and elsewhere " were deleted by Mah .9 of 1988,s.32(a)[* * * * * *] the Chief Officer in charge of the revenue administration of a district and includes any officer whom the State Government may, by notification in the Official Gazette, appoint in this behalf;7 These words were added by Mah.9 of 1988,S.32(b)and on whom any or all the powers of the Collector under this Act are conferred by the same notification or any other like notification

8 Cl.(g) was substituted for the original by Mah.27 of 1985, S.2(c), (w.e.f. 10-12-1985)(g) "Conveyance" includes,-

(i) a conveyance on sale,

(ii) every instrument, 9 The word "and" deleted by Mah.17 of 1993, S.28(a)(i), (w.e.f. 1-5-1993)[***]

(iii) every decree or final order of any Civil Court,

10 Sub-cl.(iv) inserted by Mah.17 of 1993, S.28(a)(i), (w.e.f. 1-5-1993)(iv) every order made by the High Court under section 394 of the Companies Act,1956] 11 This portion was substituted for the words "in respect of amalgamation of companies" by Mah.1 of 2002, S.2, (w.e.f. 1-1-2000)[in respect of amalgamation or reconstruction of companies; and every order made by the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies;] by which property, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person, inter vivos, and which is not otherwise specifically provided for by Schedule I;

Explanation.-An instrument whereby a co-owner of any property transfers his interest to another co-owner of the property and which is not an instrument of partition, shall, for the purposes of this clause, be deemed to be an instrument by which property is transferred inter vivos;

12 Clause (ga) was inserted by Mah Act.No. 13 of 2004 s.2.(ga) "Deputy Inspector General of Registration and Deputy Controller of Stamps" means the officer or officers 13 Substituted for "appointed by state Government by notification issued under clause (f) and on which any or all of the powers of the collector under this Act are conferrend" by the Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006) [so designated by the State Government and includes any other officer whom the State Government may, by notification in the Official Gazette, appoint in this behalf]]

(h) "duly stamped" as applied to an instrument means that the instrument bears an adhesive or impressed stamp of not less than the proper amount and that such stamp has been affixed or used in accordance with the law for the time being in force in the State;"

(i) "executed" and "execution" used with reference to instruments, mean "signed" and "signature";

14 Added by Mah.32 of 2005 (w.e.f 7-05-2005)Explanation.-The terms "signed" and "signature" also include attribution of electronic record as per section 11 of the Information Technology Act, 2000.

(j) "Government securities" means a Government security as defined in the Public Debt Act, 1944;

15 Cl.(ja) was inserted by Mah.27 of 1985, S.2(d) (w.e.f. 1-12-1985)(ja) "immovable property" includes land, benefits to arise out of land, and things attached to the earth, or permanently fastened to anything attached to the earth;]

(k) "impressed stamp" includes,-

(i) labels affixed and impressed by the proper officer;

(ii) stamps embossed or engraved on stamped paper;

16 Cl.(iii) and (iv) inserted by Bombay Stamp (Amendment) Act, 1994, S.2, (w.e.f. 28-2-1994)[(iii) impression by franking machine;

(iv) impression by any such machine as the State Government may, by notification in the Official Gazette, specify;];

(l) "instrument" includes every document by which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded, but does not include a bill of exchange, cheque, promissory note, bill of lading, letter of credit, policy of insurance, transfer of share, debenture, proxy and receipt;

17 Added by Mah.32 of 2005 (w.e.f 7-05-2005)Explantion - The term "document" also includes any electronic record as defined in clause (t) of sub-section (1) of section 2 of the Infomation Technology Act,2000

18 Cl.(1a) was inserted by Mah. 31 of 1962, S.2[(la) "instrument of gift" includes, where the gift is of any movable 19 These words were inserted by Mah.13 of 1974, S.2, (w.e.f. 1-5-1974).[or immovable] property but has not been made in writing, any instrument recording whether by way of declaration or otherwise the making or acceptance of such oral gift;]

(m) "instrument of partition" means any instrument whereby co-owners of any property divide or agree to divide such property in severally and includes-

(i) a final order for effecting a partition passed by any revenue authority or any civil court,

(ii) an award by an arbitration directing a partition, and

(iii) when any partition is effected without executing any such instrument, any instrument or instruments signed by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners;

(n) "lease" means a lease of immovable 18 [or movable (or both)] property, and includes also,-

(i) a Patta;

(ii) a Kabulayat, or other undertaking in writing not being a counterpart of a lease to cultivate, occupy or pay or deliver rent for immovable property;

(iii) any instrument by which tolls of any description are let;

(iv) any writing on an application for a lease intended to signify that the application is granted;

20 These words and Cl.(v) were inserted by Mah. 17 of 1993,S.28(b)(i)and(ii), (w.e.f 1-5-1993)(v) a decree or final order of any Civil Court in respect of a lease :

Provided that, where subsequently an instrument of lease is executed in pursuance of such decree or order, the stamp duty, if any, already paid and recovered on such decree or order shall be adjusted towards the total duty leviable on such instrument;

21 Cl.(na) was inserted by Mah.16 of 1979, S.2, (w.e.f. 4-7-1980)[(na) "market value", in relation to any property which is the subject matter of an instrument, means the price which such property would have fetched if sold in open market on the date of execution of such instrument] 22 This portion was added by Mah.27 of 1985, S.2(g), (w.e.f. 10-12-1985) [or the consideration stated in the instrument whichever is higher;]

(o) "marketable security" means a security of such description as to be capable of being sold In any stock market in India. 23 The words "or in the United Kingdom" were deleted by Mah.27 of 1985, S.2(f), (w.e.f. 10-12-1985)(* * * *]:

(p) "mortgage deed" includes every instrument whereby, for the purpose of securing money advanced,or to be advanced, by way of loan, or an existing or future debt, or the performance of an engagement, one person transfers or creates to, or in favour of, another, a right over or in respect of specified property;

24 Cl.(pa) was inserted by Mah. 17 of 1993, S.28(c), (w.e.f. 1-5-1993)(pa) 'movable property' includes standing timber, growing crops and grass, fruit upon and juice in trees and property of every other description, except immovable property, by which any right or liability is or is purported to be created, transferred, limited, extended, extinguished or recorded;]

(q) "paper" includes vellum, parchment or any other material on which an instrument may be written;

(r) "power of attorney" includes any instrument (not chargeable with a fee under the law relating to court-fees for the time being in force) empowering a specified person to act for and in the name of the person executing it 25 This portion was added by Mah. 27 of 1985, S.2(g). (w.e.f. 10-12-1985)[and includes an instrument by which a person, not being a person who is a legal practitioner, is authorised to appear on behalf of any party in any proceeding before any court, tribunal or authority];

26 Cl.(ra) was inserted by Mah. 27 of 1985, S.2(h), (w.e.f. 10-12-1985)(ra) "public officer" means a public officer as defined in clause (17) of section 2 of the Code of Civil Procedure, 1908;

(s) "Schedule" means a Schedule appended to this Act;

(t) "settlement" means any non-testamentory disposition in writing of movable or immovable property made,-

(i) in consideration of marriage,

(ii) for the purpose of distributing property of the settler among his family or those for whom he desires to provide, or for the purpose of providing for some person dependent on him, or

(iii) for any religious or charitable purpose, and includes an agreement in writing to make such a disposition and where any such disposition has not been made in writing any instrument recording whether by way of declaration of trust or otherwise, the terms of any such disposition;

(u) "soldier" includes any person below the rank of a non-commissioned officer who is enrolled under the Army Act, 1950.

CHAPTER 2 STAMP DUTIES

Section 3 Instrument chargeable with duty

Subject to the provisions of this Act and the exemptions contained in Schedule I, the following instruments shall be chargeable with duty of the amount indicated in Schedule I as the proper duty therefor respectively, that is to say-

(a) every instrument mentioned in Schedule I, which not having been previously executed by any person, is executed in the State on or after the date of commencement of this Act;

(b) every instrument mentioned in Schedule I, which not having been previously executed by any person, is executed out of the State on or after the said date, relates to any property situate, or to any matter or thing done or to be done in this State and is received in this State:

1 The proviso was inserted by the Maharashtra Tax Laws (Levy and Amendment) Act, 1998 No. 21 of 1998 S.6(a) (w.e.f. 1-5-1998).Provided that a copy or extract, whether certified to be a true copy or not and whether a fascimile image or otherwise of the original instrument on which stamp duty is chargeable under the provisions of this section, shall be chargeable with full stamp duty indicated in the Schedule I if the proper duty payable on such original instrument is not paid

2 These words were sub stituted for the words "provided that" by the Maharashtra Tax Laws (Levy and Amendment) Act, 1998, No. 21 of 1998,S.6(b)Provided further that] no duty shall be chargeable in respect of-

(1) any instrument executed by or on behalf of, or in favour of, the Government in cases, where, but for this exemption, the Government would be liable to pay the duty chargeable in respect of such instrument3 These words were added by Mah.27 of 1985,S.3(a)[or where the Government has undertaken to bear the expenses towards the payment of the duty;

(2) any instrument for the sale, transfer or other disposition, either absolutely or by way of mortgage or otherwise, of any ship or vessel, or any part, interest, share or property of or in any ship or vessel registered under the Bombay Coasting Vessels Act, 1838, or4 These words and figures were substituted for the words and figures "Indian Registration of ships Act,1841",Mah.27 of 1985,S.3(b)[Merchant Shipping Act, 1958].

Section 4 Several Instruments used in single transaction of VV32[development agreement] sale, mortgage or settlement

(1) Where, in the case of any 1 Inserted by Mah.32 of 2005 (w.e.f. 7-05-2005)[(development agreement)] sale, mortgage or settlement, several instruments are employed for completing the transaction, the principal instrument only shall be chargeable with the duty prescribed in Schedule I for the conveyance, 2 Inserted by Mah.32 of 2005 (w.e.f. 7-05-2005) [(development agreement)] mortgage or settlement, and each of the other instruments shall be chargeable with a duty of 3 These words were substituted by Mah Act No.13 of 2004 S.3.[one hundred rupees] instead of the duty (if any) prescribed for it in that Schedule.

(2) The parties may determine for themselves which of the instruments so employed shall, for the purposes of sub-section (1), be deemed to be the principal instrument.

4 Sub-sec (3) was inserted by Mah.27 of 1985, S.4(b), (w.e.f. 10-12-1985)(3) If the parties fail to determine the principal instrument between themselves, then the officer before whom the instrument is produced may, for the purposes of this section, determine the principal instrument:]

Provided that the duty chargeable on the instrument so determined shall be the highest duty which would be chargeable in respect of any of the said instruments employed.

Section 5 Instruments relating to several distinct matters

Any instrument comprising or relating to several distinct matters shall be chargeable with the aggregate amount of the duties with which separate instruments, each comprising or relating to one of such matters, would be chargeable under this Act.

Section 6 Instruments coming within several descriptions in Schedule I

Subject to the provisions of section 5, an instrument so framed as to come within two or more of the descriptions in Schedule I shall, where the duties chargeable thereunder are different, be chargeable only with the highest of such duties:

Provided that nothing in this Act contained shall render chargeable with duty exceeding 1 These words were substituted for the words "three rupees" by Mah.27 of 1985, S.5, w.e.f. 10-12-1985.[ten rupees] a counterpart or duplicate of any instrument chargeable with duty and in respect of which the proper duty has been paid.

Section 7 Payment of higher duty in respect of certain instruments

(1) Notwithstanding anything contained in section 4 or 6 or in any other enactment, unless it is proved that the duty chargeable under this Act has been paid,-

(a) on the principal or original instrument, as the case may be, or

(b) in accordance with the provisions of this section, the duty chargeable on an instrument of sale, mortgage or settlement other than a principal instrument or on a counterpart, duplicate or copy of any instrument shall, if the principal or original instrument would, when received in this State have been chargeable under this Act with a higher rate of duty, be the duty with which the principal or original instrument would have been chargeable under section 19.

(2) Notwithstanding anything contained in any enactment for the time being in force, no instrument, counterpart, duplicate or copy chargeable with duty under this section shall be received in evidence unless the duty chargeable under this section has been paid thereon:

Provided that any Court before which any such instrument, duplicate or copy is produced may permit the duty chargeable under this section to be paid thereon and may then receive it in evidence.

1 Sub-section (3) was inserted by Mah.17 of 1993, S.29 (w.e.f. 1-5-1993)[(3) The provisions of this Act and the rules made thereunder, in so far as they relate to the recovery of duties chargeable on instruments under section 3 shall, so far as may be, apply to the recovery of duties chargeable on a counterpart, duplicate or a copy of an instrument under sub-section (1).]

Section 8 Bonds or securities other than debentures issued on loans under Act IX of 1914 or other law

(1) Notwithstanding anything in this Act, any local authority raising a loan under the provisions of the Local Authorities Loans Act, 1914, or of any other law for the time being in force, by the issue of bonds or securities other than debentures shall, in respect of such loan, be chargeable with a duty of1 These words were substituted for the original by Mah.17 of 1993.[two per centum] on the total amount of such bonds or securities issued by it, and such bonds or securities need not be stamped, and shall not be chargeable with any further duty on renewal, consolidation, sub-division or otherwise.

(2) The provisions of sub-section (1) exempting certain bonds or securities from being stamped and from being chargeable with certain further duty shall apply to the bonds or securities other than debentures of all outstanding loans of the kind mentioned therein, and all such bonds or securities shall be valid, whether the same are stamped or not.

(3) In the case of wilful neglect to pay the duty required by this section the local authority shall be liable to forfeit to the State Government a sum equal to ten per centum upon the amount of duty payable, and a like penalty for every month after the first month during which such neglect continues.

Section 9 Power to reduce, remit or compound duties

The State Government[,if satisfied that it is necessary to do so in the public interest,] may, by rule or order published in the Official Gazette,-

(a) reduce or remit, whether prospectively or retrospectively, in the whole or any part of the State the duties with which any instruments or any particular class of instruments or any of the instruments belonging to such class, or any instruments when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable, and

(b) provide for the composition or consolidation of duties in the case of issues by any incorporated company or other body corporate of bonds or marketable securities other than debentures.

Section 10 Duties how to be paid

(1) Except as otherwise expressly provided in this Act, all duties with which any instruments are chargeable shall be paid and such payment shall be indicated on such instrument, by means of stamps,-

(a) according to the provisions herein contained; or

(b) when no such provision is applicable thereto, as the State Government may, by rules, direct.

(2) The rules made under sub-section (1) may, among other matters, regulate,-

(a) in the case of each kind of instrument, the description of stamps which may be used;

(b) in the case of instruments stamped with impressed stamps, the number of stamps which may be used.5

1 Sub-section (2-1A) was inserted by Man. 10 of 2003, S.2 (w.e.f. 3-2-2003)(2-1A) From the date of coming into force of the Bombay Stamp (Amendment) Ordinance, 2003, in the case of instruments, stamped with impressed stamps, such stamps shall bear the stamp and signature with date, of the authorised officer of the Treasury, Sub-treasury or the General Stamp Office in the State or of the proper officer appointed by the Chief Controlling Revenue Authority, Superintendent of Stamp or Collector of Stamps in the State :

Provided that, the Chief Controlling Revenue Authority may, by notification in the Official Gazette, from the specified date, do away with such requirement]:

2 Sub-secs(2A), (2B) and (2C) were inserted by Bombay Stamp (Amendment) Act, 1994, S.3(1) (w.e.f. 28-2-1994)(2A) The Chief Controlling Revenue Authority may, subject to such conditions as he may deem fit to impose, authorise use of franking machine or any other machine specified under sub-clause (iv) of clause (k) of section 2, for making impressions on instrument's chargeable with duties to indicate payment of duties payable on such instruments;

(2B)

(a) Where the Chief Controlling Revenue Authority or the Superintendent of Stamps, Bombay when authorised by the Chief Controlling Revenue Authority in this behalf, is satisfied that having regard to the extent of instruments executed and the duty chargeable thereon, it is necessary in public interest to authorise any person, body or organisation to such use of franking machine or any other machine, he may, by order in writing authorise such person, body or organisation;

(b) Every such authorisation shall be subject to such conditions, if any, as the Chief Controlling Revenue Authority may, by any general or special order, specify in this behalf.

(2C) The procedure to regulate the use of franking machine or any other machine as so authorised shall be such as the Chief Controlling Revenue Authority may, by order determine.]

3 Sub-section (3) was substituted by Man. 10 of 2003, S.2 (w.e.f. 3-2-2003).(3) Notwithstanding anything contained in sub-section (1), the Chief Controlling Revenue Authority, shall, by notification in the Official Gazette, specify the instruments in Schedule I in respect of which the duties chargeable, as specified in column 2 of the said Schedule shall be paid,-

(1) by means of a franking machine;

(2) by way of cash;

(3) by demand draft; or

(4) by pay, order, in any Government Treasury or Sub-Treasury or General Stamp Office, and such payment shall be indicated on such instrument by endorsement to that effect made on the instrument by the proper officer duly notified by the Chief Controlling Revenue Authority for this purpose.]

4 Sub-sec (4) was substituted by Bombay Stamp (Amendment) Act, 1994, S.3(3), (w.e.f. 28-2-1994(4) An impression made under sub-sections (2A), (2B) and (2C) or, as the case may be, an endorsement made under sub-section (3), 5 These words, brackets, letter and figures inserted by Mah. 9 of 1997, S.7 (w.e.f. 15-9-1996) [or under sub-section (2) of section 32A] on any instruments, shall have the same effect as if the duty of an amount equal to the amount indicated in the impression or, as the case may be, stated in the endorsement has been paid, in respect of, and such payment has been indicated on such instrument by means of stamps, under sub-section (1).

Section 10A Duties to be paid in cash, by demand dr aft or by pay ord er by Government controlled bodies, Insurance Companies and Banks

[ Notwithstanding anything contained in section 10, the State Government may, by notification in the Official Gazette, direct that, in case of the bodies owned or controlled by the State or Central Government, Insurance Companies and Nationalised Banks, the duty may be paid by their Head Office or Regional Office or Zonal Office by way of cash, or by demand draft or by pay order, in any Government Treasury or sub-Treasury or General Stamp Office, Mumbai and the proper officer, not below the rank of Branch Manager, so notified by the Chief Controlling Revenue Authority, shall make an endorsement on the instrument as follows,- "Stamp duty of Rs. . . . . . . . . . . . paid in cash or by demand draft or by pay order, vide Receipt/Challan No. . . . . . . . . . . . . . . dated the . . . . . . . . ." Signature of Proper Officer]

Section 10B Stock exchange etc., to deduct stamp duty from trading member's account

[ Notwithstanding anything contained in this Act, in case of transactions through stock exchange or an association as defined in clause (a) of section 2 of the Forward Contracts (Regulation) Act, 1952, the stock exchange or, as the case may be, an association, shall collect the clue stamp duty by deducting the same from the trading member's account at the time of settlement of such transactions. The stamp duty so collected shall be transferred to the Government Treasury, Sub-Treasury or General Stamp Office in the manner specified by the Chief Controlling Revenue Authority.

Explanation.- For the purposes of this section, "stock exchange" means the stock exchange as defined in clause (j) of section 2 of the Securities Contract (Regulation) Act, 1956.

Section 11 Use of adhesive stamps

The following instruments may be stamped with adhesive stamps, namely:-

(a)1 Cl. (a) was deleted by Mah. 9 of 1988, S.34(a), (w.e.f. 22-4-1988)[ * * * *]

2 Cl.(b) was substituted for the originol Cl(b) and (c) by Mah. 10 of 1965, S.3[(b) instruments mentioned at3 This word and figure was substituted for the word and letters "article Nos." by Mah. 9 of 1988, S.34(b), (w.e.f. 22-4-1988)[articles 1,] 5(a) to (g), 17, 29, 37,4 This figure was substituted for the figures, brackets and letters "41(a)" by Mah. 27 of 1985, S.8 (w.e.f. 10-12-1985)[ 41], 42, 43, 59(a) and 62 in Schedule I.]

Section 12 Cancellation of adhesive stamps

(1)

(a) Whoever affixes any adhesive stamp to any Instrument chargeable with duty which has been executed by any person shall, when affixing such stamp, cancel the same so that it cannot be used again; and

(b) Whoever executes any instrument on any paper bearing an adhesive stamp shall, at the time of execution, unless such stamp has been already cancelled in the manner aforesaid, cancel the same so that it cannot be used again.

(2) Any Instrument bearing an adhesive stamp which has not been cancelled so that it cannot be used again, shall, so far as such stamp is concerned, be deemed to be unstamped.

(3) The person required by sub-section (1) to cancel an adhesive stamp may cancel it by writing on or across the stamp his name or initials or the name or initials of his firm with the true date of his so writing, or in any other effectual manner.

Section 13 Instruments stamped with impressed stamps how to be written

[ Every instrument for which sheet of paper stamped with impressed stamp is used shall be written in such manner that the writing may appear on the face and, if required, on the reverse of such sheet so that it cannot be used for or applied to any other instrument.

Explanation I:- Where two or more sheets of papers stamped with impressed stamps are used to make up the amount of duty chargeable in respect of any instrument, either a portion of such instrument shall be written on each sheet so used, or the sheet on which no such portion is written shall be signed by the executant or one of the executants, with an endorsement indicating that the additional sheet is attached to the sheet on which the instrument is written.

Explanation II:-Where the sheet or sheets bearing impressed stamps is or are insufficient to admit of the entire instrument being written thereon, so much plain paper may be sub joined thereto as may be necessary for completing the writing of such instrument, provided a sub stantial part of the instrument is written on the sheet which bears the stamp before any part is written on the plain paper so sub joined; and such plain paper may or may not be signed by the executant but where it is not so signed it shall not render the instrument not duly stamped.]

Section 14 Only one instrument to be on same stamp

No second Instrument chargeable with duty shall be written upon a piece of stamped paper upon which an instrument chargeable with duty has already been written:

Provided that nothing in this section shall prevent any endorsement which is duly stamped or is not chargeable with duty being made upon any instrument for the purpose of transferring any right created or evidenced thereby, or of acknowledging the receipt of any money or goods the payment or delivery of which is secured thereby.

Section 14A Alterations in instruments how to be charged

[ Where due to material alterations made in an instrument by a party, with or without the consent of other parties, the character of the instrument is materially or sub stantially altered, then such instrument shall require a fresh stamp paper according to its altered character.]

Section 15 Instrument written contrary to sections 13 ,VV60[ 14 or 14A deemed not duly stamped.]

Every instrument written in contravention of section 131 These figures and letter were substituted for the words and figures "or section 14", by Mah. 27 of 1985, S. ll(a).[ 14 or 14 A] shall be deemed to be2 These words were substituted for the word "unstamped" by Mah. 27 of 1985, s. 1 l(b)[not duly stamped.]

Section 16 Denoting Duty

Where the duty with which an instrument is chargeable, or its exemption from duty, depends in any manner upon the duty actually paid in respect of another instrument, the payment of such last mentioned duty shall, if application is made in writing to the Collector for the purpose, and on production of both the instruments, be denoted upon such first mentioned instrument by endorsement under the hand of the Collector in such other manner (if any) as the State Government may, by rules, prescribe.

Section 17 Instruments executed in State

All instruments chargeable with duty and executed by any person in this State sh all be stamped before or at the time of execution1 These words were added by Mah. 27 of 1985, S.12, (w.e.f. 10-12-1985)[or immediately thereafter] 2 This portion was added by Mah. 17 of 1993, S.31, (w.e.f. 1-5-1993)[or on the next working day following the day of execution :]

3 The proviso was substituted for the original by Bom.95 of 1958, S.3[Provided that the clearance list described in Article 19, 20, 21, 22 or 23 of Schedule I may be stamped by an officer authorised by the State Government by rules made under this Act, if such clearance list is submitted for stamping by the clearing house of an Association in accordance with its rules and bye-laws with the requisite amount of stamp duty, within two months from the date of its execution.]

Section 18 Instruments executed out of State

(1) Every instrument chargeable with duty executed only out of this State may be stamped within three months after it has been first received in this State.

(2) Where any such instrument cannot with reference, to the description of stamp prescribed therefor, be duly stamped by a private person, it may be taken within the said period of three months to the Collector, who shall stamp the same, in such manner as the State Government may by rule prescribe, with stamp of such value as the person so taking such instrument may require and pay for.

Section 19 Payment of duty on certain instrumentsVV66[or copies thereof] liable to increased duty inVV67[Maharashtra State]

Where any instrument of the nature described in any article in Schedule I and relating to any property situate or to any matter or thing done or to be done in this State is executed out of the State and subsequently1 These words were Inserted by Mah. 17 of 1993, S.32(a) and (b), (w.e.f. 1-5-1993)[such instrument or a copy of the instrument is] received in the State,-

(a) the amount of duty chargeable on such instrument2 These words were Inserted by Mah. 17 of 1993, S.32(a) and (b), (w.e.f. 1-5-1993)[or a copy of the instrument] shall be the amount of duty chargeable under Schedule I on a document of the like description executed in this State less the amount of duty, if any, already paid under any law in force in India excluding the State of Jammu and Kashmir on such instrument when it was executed;

(b) and in addition to the stamps, if any, already affixed thereto such instrument3 These words were Inserted by Mah. 17 of 1993, S.32(a) and (b), (w.e.f. 1-5-1993)[or a copy of the instrument] shall be stamped with the stamps necessary for the payment of the duty chargeable on it under clause (a) of this section, in the same manner and at the same time and by the same persons as though such instrument4 These words were Inserted by Mah. 17 of 1993, S.32(a) and (b), (w.e.f. 1-5-1993)[or a copy of the instrument] were an instrument received in this State for the first time at the time when it became chargeable with the higher duty; and

(c) the provisions contained in clause (b) of the proviso to sub-section (3) of section 32 shall apply to such instrument5 These words were Inserted by Mah. 17 of 1993, S.32(a) and (b), (w.e.f. 1-5-1993)[or a copy of such instrument] as if such were an instrument executed or first executed out of this State and first received in this State when it became chargeable to the higher duty aforesaid, but the provisions contained in clause (a) of the said proviso shall not apply thereto.

Section 20 Conversion of amount expressed in foreign currencies

(1) Where an instrument is chargeable with ad valorem duty in respect of any money expressed in any currency other than that of India, such duty shall be calculated on the value of such money in the currency of India according to the current rate of exchange on the day of the date of the instrument.

(2) The rate of exchange for the conversion of British or any foreign currency into the currency of India prescribed under sub-section (2) of section 20 of the Indian Stamp Act, 1899, shall be deemed to be the current rate for the purpose of sub-section (1).

Section 21 Stock and marketable securities how to be valued

Where an instrument is chargeable with ad valorem duty in respect of any stock or of any marketable or other security, such duty shall be calculated on the value of such stock or security according to the average price or the value thereof on the day of the date of the instrument.

Section 22 Effect of statement of rate of exchange or average price

Where an instrument contains a statement of current rate of exchange, or average price, as the case may require, and is stamped in accordance with such statement, it shall, so far as regards the subject matter of such statement, be presumed until the contrary is proved to be duly stamped.

Section 23 Instruments reserving interest

Where interest is expressly made payable by the terms of an instrument, such instrument shall not be chargeable with duty higher than that with which it would have been chargeable had no mention of interest been made therein.

Section 24 .

Certain instruments connected with mortgages of marketable securities to be chargeable as agreements

(1) Where an instrument -

(a) is given upon the occasion of the deposit of any marketable security by way of security for money advanced or to be advanced by way of loan, or for an existing or future debt, or

(b) makes redeemable or qualifies a duly stamped transfer intended as a security or any marketable security,it shall be chargeable with duty as if it were an agreement or memorandum of an agreement chargeable with duty under Article No. 5(h) of Schedule I,

(2) A release or discharge of any such instrument shall only be chargeable with the like duty.

Section 25 How transfers in consideration of debt or sub ject to future payments, etc . to be charged

Where any property is transferred to any person -

(a) in consideration, wholly or in part, of any debt due to him; or

(b) sub ject either certainly or contingently to the payment or transfer (to him or any other person) of any money or stock, whether being or constituting a charge or encumbrance upon the property or not; such debt, money or stock, shall be deemed to be the whole or part, as the case may be, of the consideration in respect whereof the transfer is chargeable with ad valorem duty:

Provided that, nothing in this section sh all apply to any such certificate of sale as is mentioned in Article 16 of Schedule I.

Explanation:- Where property is sold and sale is sub ject to a mortgage or other incumbrance, any unpaid mortgage money or money charged, together with the interest (if any) due on the same, shall be deemed to be part of the consideration for the sale, whether or not the purchaser expressly undertakes with the seller to pay the same or indemnify the seller if the seller has to pay the same:

Provided that, where any property sub ject to a mortgage is transferred to the mortgage, he shall be entitled to deduct from the duty payable on the transfer the amount of any duty already paid in respect of the mortgage.

Section 26 Valuation in case of annuity, etc

Where an instrument is executed to secure the payment of an annuity or other sum payable periodically or where the consideration for a conveyance is an annuity or other sum payable periodically, the amount secured by such instrument or the consideration for such conveyance, as the case may be, shall, for the purposes of this Act, be deemed to be, -

(a) where the sum is payable for a definite period so that the total amount to be paid can be previously ascertained, such total amount;

(b) where the sum is payable in perpetuity or for an indefinite time not terminable with any life in being at the date of such instrument or conveyance, the total amount which, according to the terms of such instrument or conveyance, will or may be payable during the period of twenty years calculated from the date on which the first payment becomes due; and

(c) where the sum is payable for an indefinite time terminable with any life in being at the date of such instrument or conveyance, the maximum amount which will or may be payable as aforesaid during the period of twelve years calculated from the date on which the first payment becomes due.

Section 27 Stamp where value of subject-matter is indeterminate

Where the amount of value of the subject-matter of any instrument chargeable with ad valorem duty cannot be, or in the case of an instrument executed before the commencement of this Act, could not have been ascertained at the date of its execution or, first execution, nothing shall be claimable under such instrument more than the highest amount or value for which, if stated in an instrument of the same description, the stamp actually used would, at the date of such execution,1 These words were substituted for the words "have been sufficient", by Mah. 27 of 1985, S.14(a) (w.e.f. 10.12.1985)[have been sufficient, and the instrument shall be deemed to be insufficiently stamped as respects the excess amount and the provisions of section 34 shall accordingly apply in relation to the admission of the instrument in evidence:

Provided that, for the purpose of application to section 34 to such an instrument, it shall be sufficient if the deficiency in the duty is paid, and thereupon no penalty shall be levied :]

VV75[Provided further that] in the case of the lease of a mine in which royalty or a share of the produce is received as the rent or part of the rent, it shall be sufficient to have estimated such royalty or the value of such share, for the purpose of stamp duty, -

(a) when the lease has been granted by or on behalf of the Government at such amount or value as the Collector may, having regard to all the circumstances of the case, have estimated as likely to be payable by way of royalty or share to the Government under the lease, or

(b) when the lease has been granted by any other person, at2 These words were substituted by Mah. 17 of 1993, S.33 (w.e.f. 1-5-1993)[fifty thousand rupees] a year, and the whole amount of such royalty or share, whatever it may be, shall be claimable under such lease:

Provided also that, where proceedings have been taken in respect of an instrument under section 31 or 40, the amount certified by the Collector shall be deemed to be the stamp actually used at the date of execution.

Section 28 Facts affecting duty to be set forth in instrument

The consideration (if any)1 These words were Inserted by Mah. 16 of 1979, S.4[the market value] and all other facts and circumstances affecting the chargeability of any instrument with duty, or the amount of the duty with which it is chargeable, shall be fully and truly set forth therein.

Section 29 Direction as to duty in case of certain conveyances

(1) Where any property has been contracted to be sold for one consideration for the whole, and is conveyed to the purchaser in separate parts by different instruments, the1 These words were Inserted by Mah. 16 of 1979, S.4[market value] shall be apportioned in such manner as the parties think fit, provided that a distinct2 These words were Inserted by Mah. 16 of 1979, S.4[market value] for each separate part is set forth in the conveyance relating thereto, and such conveyance shall be chargeable with ad valorem duty in respect of such distinct3 These words were Inserted by Mah. 16 of 1979, S.4[market value].

(2) Where property contracted to be purchased for one consideration for the whole, by two or more persons jointly, or by any person for himself and others, or wholly for others, is conveyed in parts by separate instruments of the persons, by or for whom the same was purchased, for distinct parts of the consideration, the conveyance of each separate part shall be chargeable with ad valorem duty in respect of the distinct part4 These words were substituted for the word "consideration" by Mah. 16 of 1979, S. 5(a)[in respect of the market value of such part of the property].

(3) Where a person, having contracted for the purchase of any property but not having obtained a -conveyance thereof, contracts to sell the same to any other person and the property is in consequence conveyed immediately to the sub-purchaser, the conveyance shall be chargeable with ad valorem duty5 These words were substituted for the words "in respect of the consideration for the sale" by Mah. 16 of 1979, S. 5(a), (w.e.f. 4-7-1980)[in respect of the market value of the property at the time of sale] by the original purchaser to the sub-purchaser.

(4) Where a person having contracted for the purchase of any property but not having obtained a conveyance thereof contracts to sell the whole or any part thereof, to any other person, or persons, and the property is in consequence conveyed by the original seller to different persons in parts the conveyance of each part sold to a sub-purchaser shall be chargeable with ad valorem duty6 This portion was substituted by Mah. 16 of 1979, S. 5(a), (w.e.f. 4-7-1980)[in respect only of the market value of the part sold to the sub-purchaser, without regard to the amount of the market value of the property conveyed by the original seller, and the conveyance of the residue (if any) of such property to the original purchaser shall be chargeable with ad valorem duty in respect of the market value of such residue:]

Provided that notwithstanding anything contained in Article 25 of Schedule I the duty on such last mentioned conveyance shall in no case be less than7 These words were substituted for the words "three rupees" by Mah. 27 of 1985, S.15(a) (w.e.f. 10-12-1985)[ten rupees].

8 Sub-section (5) was substituted for the original by Mah. 16 of 1979, S.5(e) (w.e.f. 4-7-1985)[(5) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the market value of the property which is the subject matter of the conveyance and is duly stamped accordingly, any conveyance to be made afterwards to him in respect of the same property by the original seller shall be chargeable with a duty equal to that which would be chargeable on a conveyance for the market value of the property which is the subject matter of the conveyance or where such duty exceeds9 These words were substituted for the words "seven rupees" by Mah. 27 of 1985, S.15(b) (w.e.f. 10-12-985)[fifty rupees] with a duty of10 These words were substituted for the words "seven rupees" by Mah. 27 of 1985, S.15(b) (w.e.f. 10-12-985)[fifty rupees].]

Section 30 Duties by whom payable

In the absence of an agreement to the contrary, the expense of providing the proper stamp shall be borne:-

(a) in the case of any instrument described in any of the following articles of Schedule I, namely:- No. 2 (Administration Bond), No. 6 (Agreement relating to Deposit of Title-deeds, Pawn or Pledge), No. 13 (Bond), No. 14 (B ottomry Bond), No. 28 (Customs Bond), No. 33 (Further Charge), No. 35 (Indemnity Bond), (Sec Bond r Mortgage Deed), No. 55 (Settlement), No.1[ 59 (a)] (Transfbentures, being marketable securities whether the debenture is liable to duty or not, except debentures provided for by section 8 of the Indian Stamp Act, 1899), No. 59 (b) (Transfer of any interest secured by a bond or mortgage deed or policy of insurance), by the person drawing or making such instrument;

(b) in the case of a conveyance (including a conveyance of mortgaged property) by the grantee; in the case of a lease or agreement to lease by the lessee or intended lessee;

(c) in the case of a counter part of a lease by the lessor;

(d) in the case of an instrument of exchange by the parties in equal shares;

(e) in the case of a certificate of sale by the purchaser of the property to which such certificate relates;1 The word "and" deleted by Mah. 27 of 1985, S. 16(b)[***]

(f) in the case of an instrument of partition by the parties thereto in proportion to their respective sh ares in the whole property partitioned, or, when the partition is made in execution of an ord er passed by a Revenue Authority or Civil Court or Arbitrator, in such proportion, as such Authority, Court or2 These words were 2006 for the words "arbitrator direct" by Mah. 27 of 1985, S. 16(c)[arbitrator directs; and]

3 Cl. (g) was added by Mah. 27 of 1985, S. 16(d)[(g) in any other case, by the person executing the instrument].

CHAPTER 3 ADJUDICATION AS TO STAMPS

Section 31 Adjudication as to proper stamps

1 Sub-section (1) was substituted for the original by Man. 13 of 1974, S.3 (w.e.f. 1-5-1974}[(1) When an instrument, whether executed or not and whether previously stamped or not, is brought to the Collector,2 These words were substituted by Mah. 9 of 1997 (w.e.f. 15-9-1996)[by one of the parties to the instrument and such person] applies to have the opinion of that officer as to the duty (if any) with which3 These words were Inserted by Mah. 27 of 1985, S.17(a) (w.e.f. 10-12-1985)[or the Article of Schedule I under which] it is chargeable and pay4 These words were substituted for the words "a fee of fifty rupees" by Mah. 22 of 2001, s. 2(a)[a fee of one hundred rupees] the Collector shall determine the duty (if any) with which5 These words were Inserted by Mah. 27 of 1985, S.17(a) (w.e.f. 10-12-1985)or the Article of Schedule I under which in his judgement, the instrument is chargeable].

(2) For this purpose the Collector may require to be furnished with 6 These words were Inserted for the words "such abstract", by Mah. 27 of 1985, S.17(b)(ii) (w.e.f. 10-12-1985)[a true copy or] an abstract of the instrument, and also with such affidavit or other evidence as he may deem necessary to prove that all the facts and circumstances affecting the chargeability of the Instrument with duty, or the amount of the duty with which it is chargeable, are fully and truly set forth therein and may refuse to proceed upon any such application until 7 These words were Inserted for the words "such abstract", by Mah. 27 of 1985, S.17(b)(ii) (w.e.f. 10-12-1985)[such true copy or abstract] and evidence have been furnished accordingly:

Provided that, -

(a) no evidence furnished in pursuance of this section shall be used against any person in any civil proceeding, except in any inquiry as to the duty with which the instrument to which it relates is chargeable; and

(b) every person by whom any such evidence is furnished shall, on payment of the full duty with which the instrument to which it relates is chargeable, be relieved from any penalty which he may have incurred under this Act by reason of the omission to state truly in such instrument any of the facts or circumstances aforesaid.

8 Sub-section (3) was added by Mah. 16 of 1979, s.6 (w.e.f. 4-7-1980)[(3) Where the Collector acting under sub-sections (1) and (2) is not the Collector of the District and if he has reasons to believe that the market value of the property, which is the subject matter of the instrument, received by hi m for adjudication, has not been truly set forth therein,9 These words were substituted for the original by Mah. Tax Laws (Levy, Amendment and validation) Act, 1997, Mah. 30 of 1997 (w.e.f. 15-5-1997)[he shall, for the purpose of assessing the stamp duty, determine the true market value of such property, as laid down in the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995.]

10 Sub-sec. (4) was added by Mah, 30 of 1997.[(4) When an instrument is brought to the Collector for adjudication,-

(i) within one month of the execution or first execution of such instrument in the State; or

(ii) if, such instrument is executed or first executed, out of the State, within three months from the date of first receipt of such instrument in this State,the person liable to pay the stamp duty under section 30 shall pay the same within sixty days from the date of service of the notice of demand in respect of the stamp duty adjudicated by the Collector. If such person falls to pay the stamp duty so demanded within the said period, he shall be liable to pay a penalty at the rate of two per cent of the deficient portion of the stamp duty, for every month or part thereof, from the date of execution of such instrument, or as the case may be, date of the first receipt of such instrument in the State] :

11 This proviso was added by Mah. 22 of 2001, s. 2(b).[Provided that, in no case, the amount of the penalty shall exceed double the deficient portion of the stamp duty.]

Section 32 Certificate by Collector

(1) When an Instrument brought to the Collector under section 31, is in his opinion, one of a description chargeable with duty, and

(a) the Collector determines that it is already fully stamped, or

(b) the duty determined by the Collector under section 31, or such sum as with the duty already paid in respect of the instrument, is equal to the duty, so determined has been paid, the Collector shall certify by endorsement on such instrument that the full duty1 These brackets, words and figures were substituted for the brackets and words "stating the amount", by Mah. 27 of 1985, S.18(a) (w.e.f. 10-12-1985)[(stating the relevant Article of Schedule I and the amount)] with which it is chargeable has been paid.

(2) When such instrument is, in hi s opinion, not chargeable with duty, the Collector shall certify in manner aforesaid that such instrument is not so chargeable.

(3)2 These words were substituted for the words "Any Instrument upon which an endorsement has been made, by Mah. 27 of 1985, S.18(a) (w.e.f. 10-12-1985)[Subject to the provisions of section 53 -A, any instrument upon which an endorsement has been made] under this section, shall be deemed to be duly stamped or not chargeable with duty, as the case may be; and, if chargeable with duty, shall be receivable in evidence or otherwise, and may be acted upon and registered as if it had been originally duly stamped:

Provided that nothing in this section shall authorise the Collector to endorse.

(a) any instrument executed or first executed in the State and brought to him after the expiration of one month from the date of its execution or first execution as the case may be;

(b) any instrument executed or first executed out of the State and brought to him after the expiration of three months after it has been first received in this State; or

(c) any instrument chargeable with the duty of twenty naye paise or less when brought to him, after the drawing or execution thereof, on paper not duly stamped.

Section 32A Instrument of conveyance, etc . undervalued how to be dealt with

(1) Every instrument of conveyance, exchange, gift, certificate of sale, deed of partition or power of attorney to sell immovable property when given for consideration, deed of settlement or transfer of lease by way of assignment, presented for registration under the provisions of Registration Act, 1908, shall be accompanied by a true copy thereof:

Provided that, in case of such instruments executed on or after the 4th July 1980, to the date of commencement of the Bombay Stamp (Amendment) Act, 1985, an extract of the instrument to be taken from the registration record shall be deemed to be the true copy accompanying the instrument, presented for registration for the purposes of sub-section (1).

2 Sub-section 2 was substituted by Mah Act. No. 13 of 2004 S.4.(2) Any registering officer receiving such instrument for registration has reason to believe, on the basis of the information available with hi m in this behalf, that the market value of immovable property which is the subject matter of such instrument has not been truly set forth therein, he shall, immediately after receiving of such instrument, refer it to the Collector for determination of the true market value of such property:

Provided that, in respect of the instrument presented for registration before the date of commencement of the Maharashtra Tax Laws (Levy, Second Amendment and Validation) Act, 1996 where, in the opinion of the registering officer, the true market value of the immovable property, which is the subject matter of the said strument, has not been determined by the Collector of the District, it shall be lawful for the registering officer to verify the true market value of such property as per the annual statement of rates of Immovable property determined under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995 and issue notice to the person, who is liable to pay stamp duty under section 30 calling upon such person to pay the deficit amount of stamp duty and penalty at the rate of 2 percent. of the deficient portion of the stamp duty, for every month or part thereof from the date of execution of such instrument:

Provided further that, on the receipt of such notice, if the person liable to pay deficit amount of stamp duty and the penalty, pays within one month from the date of receipt of such notice, the deficient amount of stamp duty and also pays the fixed penalty of rupees two hundred fifty, he shall not be liable to make payment of penalty at the rate of 2 per cent,as

provided in the first proviso; and the reference already made to the Collector of the District shall abate:

Provided also that, in no case, the amount of the penalty to be charged under the proviso shall exceed double the deficit portion of the stamp duty.]

(3) If any person referred to in section 33, before whom any such instrument is produced or comes in the performance of hi s functions, has reason to believe that the market value of the immovable property which is the subject matter of such instrument has not been truly setforth therein, he may, after performing his function in respect of such instrument, refer the instrument alongwith a true copy of such instrument to the Collector of the District for determination of the true market value of such property and the proper duty payable on the instrument.

3 This proviso was added by Mah.Tax Laws(Levy,Amendment and validation) Act, 30 of 1997 (w.e.f. 15-5-1996Provided that if the person, before whom any such instrument is produced or comes in performance of his functions, is an officer appointed as the Collector under clause (f) of section 2, and he has reason to believe that the market value of the immovable property which is the subject matter of such instrument has not been truly set-forth therein, he sh all, for the purpose of assessing the stamp duty, determine the true market value of such property in the manner laid down in the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995];

(4) On receipt of the instrument or the true copy of the instrument as the case may be, under sub-section (2) or (3), the Collector of the District shall, after giving the parties concerned a reasonable opportunity of being heard and in accordance with the rules made by the State Government in that behalf, determine the true market value of the immovable property which is the subject matter of the instrument and the proper duty payable thereon. Upon such determination, the Collector of the District shall require the party liable to pay the duty, to make the payment of the amount required to make up the difference between the amount of duty determined under this sub-section and the amount of duty already paid by him and shall also require such party to pay in addition,4 These words were substituted by Mah.9 of 1997, S.9(b)(i) (w.e.f.15-9-1996)a penalty 5 These words were substituted by Mah. Tax Laws(Levy, Amendment and Validation) Act, 30 of 1997 (w.e.f. 15-5-1996)of 2 per cent for every month or part thereof] from the date of execution of the instrument on differential amount of stamp duty]; and on such payment, the instrument received under sub-section (2) or (3) shall be returned to the officer or person referred to therein:

Provided that, no such party shall be required to pay any amount to make up the difference or to pay any penalty under this sub-section, if the difference between the amount of the market value as setforth in the instrument and the market value as determined by the Collector of the District does not exceed ten per cent, of the market value determined by the Collector of the District:

6 This proviso was substituted by Mah. 9 of 1997, S.9 (b)(ii), (w.e.f. 15.9.1996)Provided further that, in respect of references pending with the Collector of the District, before the commencement of the Maharashtra Tax Laws (Levy Second Amendment and Validation) Act, 1996, for determination of true market value of the immovable property which is the subject matter of the instrument, the person liable to pay the stamp duty under section 30 shall not be liable to pay penalty exceeding rupees 250 if, he makes the payment of the stamp duty and penalty within one month from the date of receipt of the ord er of the Collector of the District, by him.

7 This proviso was added by Mah. 22 of 2001 S.3(b).[Provided also that, in no case, the amount of the penalty shall exceed double the deficient portion of the stamp duty.]

(5) The Collector of the District, may, suo moto or on receipt of information from any source, within8 Substituted for "eight years" by Mah. Tax Laws (Levy,Amendment and validation) Act,30 of 1997, s,3(d) (w.e.f. 15-5-1996)[ten years] from the date of registration of any instrument referred to in sub-section (1), (not being the instrument upon which an endorsement has been made under section 32 or the instrument or the instruments in respect of which the proper duty has been determined by him under sub-section (4) or an instrument executed before the 4th July 1980), call for the true copy or an abstract of the instrument from the registering officer and examine it for the purpose of satisfying himself as to the correctness of the market value of the immovable property which is the subject matter of such instrument and the duty payable thereon; and if, after such examination, he has reason to believe that the market value of such property has not been truly and fully setforth in the instrument he shall proceed as provided in sub-section (4).

9 Sub-section (6) was substituted by Mah. Tax Laws (Levy, Amendment and Validation) Act, 30 of 1996, s. 3 (e) (w.e.f. 15.5.1997)[(6) It shall be lawful for the Chief Controlling Revenue Authority or the Collector of the District to transfer to any other Officer, any reference received by the Collector of the District under this section, for disposal in accordance with the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995.

Section 32B Appeal

(1) Any person aggrieved by any order determining the market value under sub-section (3) of section 31 or under section 32A or any order imposing any penalty under section 32A may, within sixty days from the date of receipt of such order, by an application in writing (accompanied by such fee not exceeding three hundred rupees as the State Government may, from time to time, by notification in the Official Gazette, specify; and different rates of fees may be specified for different areas), file an appeal against such order, to the Deputy Inspector General of Registration and Deputy Controller of Stamps, who shall after considering the same, pass such order thereon as he thinks just and proper; and the order so passed shall, subject to the provisions of section 32C, be final and shall not be questioned in any Court or before any authority:

Provided that, all applications made and pending with the Collector immediately before the commencement of the Bombay Stamp (Amendment) Act, 1989 (hereinafter, in this section, referred to as "the Amendment Act"), for being referred to Courts for decision under section 32B as it existed immediately before the coming into force of the Amendment Act, shall, on the coming into force of the Amendment Act be transferred by the Collector to the Deputy Inspector General of Registration and Deputy Controller of Stamps and the applications so transferred shall be deemed to be the appeals filed and pending before the Deputy Inspector General of Registration and Deputy Controller of Stamps who shall dispose off the same in accordance with this section :

Provided further that, nothing contained in sub-section (1) and the first proviso shall affect the references already made by the Collector to the Courts and pending before the Courts immediately before the commencement of the Amendment Act; and such references shall be disposed off by the concerned Courts as if the Amendment Act has not been passed.

(2) No appeal and no application for revision shall lie against the order of the Deputy Inspector General of Registration and Deputy Controller of Stamps, passed under sub-section (1)].

Section 32C Revision

Subject to the provisions of section 32B and any rules which may be made in this behalf by the State Government, the Chief Controlling Revenue Authority may, suo moto, call for and examine the record of any order passed (including an order passed in appeal) under this Act or the rules made thereunder, by any officer and pass such order thereon as he thinks just and proper; and the order so passed shall be final and shall not be called in question in any Court or before any authority:

Provided that, no notice calling for the record under this section shall be served by the Chief Controlling Revenue Authority after the expiry of three years from the date of communication of the order sought to be revised and no order of revision, shall be made by the said Authority hereunder after the expiry of five years from such date:

Provided further that, no order shall be passed under this section which adversely affects any person, unless such person has been given a reasonable opportunity of being heard.]

CHAPTER 4 INSTRUMENTS NOT DULY STAMPED

Section 33 Examination and impounding of instruments

(1)1 These words were substituted for the words "Every person" by Mah. 16 of 1979, S.(8), (w.e.f. 4-7-1980)[Subject to the provisions of section 32-A, every person] having by law or consent of parties authority to receive evidence and every person in charge of a public office, except an officer of police 2 These words were inserted by Mah. 27 of 1985, S.20(a)(i), (w.e.f. 10-12-1985)[or any other officer, empowered by law to investigate offences under any law for the time being in force,] before whom any instrument chargeable, in his opinion, with duty, is produced or comes in the performance of his functions shall, if it appears to him that such instrument is not duly stamped, impound the same3 These words were added by Mah. 27 of 1985, S.20(a)(i) (w.e.f. 10-12-1985)[irrespective whether the instrument is or is not valid in law.]

(2) For that purpose every such person shall examine every Instrument so chargeable and so produced or coming before him in order to ascertain whether it is stamped with a stamp of the value and description required by the law for the time being in force in the State when such instrument was executed or first executed:

Provided that, -

(a) nothing herein contained shall be deemed to require any Magistrate or Judge of a Criminal Court to examine or impound, if he does not think fit so to do any instrument coming before him in the course of any proceeding other than a proceeding under4 These words, figures and letters were sub stituted for the words and figures "Chapter XII or Chapter XXXVI of the Code of Criminal Procedure, 1988", by Mah. 27 of 1985, S.20(d), (w.e.f. 10-12-1985).[Chapter IX or Part D of Chapter X of the Code of Criminal Procedure, 1973];

(b) in the case of a Judge of a High Court, the duty of examining and impounding any instrument under this section may be delegated to such officer as the Court may appoint in this behalf.

(3) For the purposes of this section, in cases of doubt, -

(a) the State Government may determine what offices shall be deemed to be public offices; and

(b) the State Government may determine who shall be deemed to be persons in charge of public offices.

Section 33A Impounding of instruments after registration

When through mistake or other wise any instrument which is not duly stamped is registered under the Registration Act, 1908, the registering officer may call for the original instrument from the party and, after giving the party an opportunity of being heard and recording the reasons in writing and furnishing a copy thereof to the party, impound it. On failure to produce such original instrument by the party, a true copy of such instrument taken out from the registration record shall, for the purposes of this section, be deemed to be the original of such instrument].

Section 34 Instruments not duly stamped inadmissible in evidence, etc

No instrument chargeable with duty1 The portion "not being any instrument referred to in sub-section (1) of section 32A", deleted by Maharastra Tax Laws(Levy and Amendment) Act,29 of 1994 (w.e.f. 1-5-1994)[***] shall be admitted in evidence for any purpose by any person having by law or consent of parties authority to receive evidence, or shall be acted upon, registered or authenticated by any such person or by any public officer unless such instrument is duly stamped2 This portion was inserted by Maharastra Tax Laws(Levy and Amendment) Act, 29 of 1994 (w.e.f. 1-5-1994)[or if the instrument is written on sheet of paper with impressed stamp3 These words were substituted by Mah.9 of 1997, S.10 (w.e.f. 15-5-1996)[such stamp paper is purchased in the name of one of the parties to the instrument].

Provided that,-

4 Cl(a) was substituted by Mah.9 of 1997, S.10 (w.e.f. 15-9-1996)(a) any such instrument shall, subject to all just exceptions, be admitted in evidence on payment of, -

(i) the duty with which the same is chargeable, or in the case of an instrument insufficiently stamped, the amount required to make up such duty, and

5 Sub-clause (ii) was substituted and proviso was added by Mah 22 of 2001, S.4 (w.e.f. 1-5-2001)(ii) a penalty at the rate of 2 per cent of the deficient portion of the stamp duty for every month or part thereof, from the date of execution of such instrument:

Provided that, in no case, the amount of the penalty shall exceed double the deficient portion of the stamp duty].]

(b) where a contract or agreement of any kind is effected by correspondence consisting of two or more letters and any one of the letters bears the proper stamp; the contract or agreement shall be deemed to be duly stamped;

(c) nothing herein contained shall prevent the admission of any instrument in evidence in any proceeding in a Criminal Court, other than a proceeding under 6 These words, figures and letter were substituted for the words and figures "under Chapter XII or Chapter XXXVI of the Code of Criminal Procedure, 1898, by Maharashtra 27 of 1985, S.22(b) (w.e.f. 10-12-1985)Chapter IX or Part D of Chapter X of the Code of Criminal Procedure 1973;]

(d) nothing herein contained shall prevent the admission of any instrument in any Court when such instrument has been executed by or on behalf of the Government or where it bears the certificate of the Collector as provided by section 32 or any other provision of this Act;

7 Clause (e) was added, by Mah. 27 of 1985, S.22(c). (w.e.f. 10-12-1985).(e) nothing herein contained shall prevent the admission of a copy of any instrument or of an oral admission of the contents of any instrument, if the stamp duty or a deficient portion of the stamp duty and penalty as specified in clause (a) is paid.]

Section 35 Admission of instrument where not to be questioned

Where an instrument has been admitted in evidence, such admission shall not, except as

provided in section 58, be called in question at any stage of the same suit or proceeding on the ground that the instrument has not been duly stamped.

Section 36 Admission of improperly stamped instruments

The State Government may make rules providing that, where an instrument bears a stamp of sufficient amount but of improper description, it may, on payment of the duty with which the same is chargeable, be certified to be duly stamped, and any instrument so certified shall then be deemed to have been duly stamped as from the date of its execution.

Section 37 Instruments impounded how dealt with

(1) When the person impounding an instrument under section 33 has by law or consent of parties authority to receive evidence and admits such instrument in evidence upon payment of a penalty as provided by section 34 or of duty as provided by section 36, he shall send to the Collector an authenticated copy of such instrument, together with a certificate in writing stating the amount of duty and penalty levied in respect thereof, and shall send such amount to the Collector, or to such person as he may appoint in this behalf.

1 Sub-section (2) was substituted for the original by Mah. 27 of 1985, S.23, (w.e.f. 10-12-1985)(2) In every other case, a person so impounding the original instrument shall prepare an authentic copy of such instrument and where it is a true copy or an abstract referred to in section 31 or true copy referred to in section 33A, he shall send such authentic copy or, true copy or, as the case may be, an abstract to the Collector, for the purpose of taking action on the authentic copy or a true copy or, as the case may be, an abstract as if it were the original instrument and endorsing thereon a certificate with reference to the instrument under clause (a) of sub-section (1) of section 39 or under sub-section (1) of section 41, as the case may be. On receipt of the authentic copy, the true copy or, as the case may be, an abstract with the certificate as aforesaid endorsed thereon, the person who had impounded the original instrument shall copy on the original instrument the certificate endorsed on the authentic copy and shall authenticate such certificate; and where it is a true copy or an abstract on which the certificate as aforesaid is endorsed, the registering officer who had forwarded the true copy of an abstract shall make appropriate entries in respect of the instrument of which it was a true copy or an abstract, in the relevant register maintained by him and on an application made in this behalf issue under his signature a certificate to the effect that the proper duty or, as the case may be, the proper duty and penalty (stating the amount of each) have been levied in respect of that instrument, and the name and residence of the person paying such duty and penalty.]

Section 38 Collector's power to refund penalty paid under section 37, sub-section (1)

(1) When a copy of an instrument is sent to the Collector under sub-section (1) of section 37 he may, if he thinks fit, refund any portion of the penalty in excess of five rupees which has been paid in respect of such instrument.

(2) When such instrument has been impounded only because it has been written in contravention of section 12 or section 14, the Collector may refund the whole penalty so paid.

Section 39 Collectors' power to stamp instruments impounded

(1) When the Collector impounds any instrument under section 33, or receives any instrument sent to hi m under sub-section (2) of section 37, not being an instrument chargeable with a duty of twenty naye paise, or less, he shall adopt the following procedure: -

(a) if he is of opinion that such instrument is duly stamped or is not chargeable with duty, he shall certify by endorsement thereon that it is duly stamped, or that it is not so chargeable, as the case may be;

(b) if he is of opinion that such instrument is chargeable with duty and is not duly stamped he shall require the payment of the proper duty or the amount required to make up the same, together with a penalty of 1 These words were substituted by Mah. 9 of 1997, S.11 (w.e.f. 15-9-1996)[an amount equal to 2 These words were substituted by Mah. Tax Laws (Levy, Amendment and Validation) Act 30 of 1997, S.4 (w.e.f. 15-5-1997)[2 per cent of the deficient portion of the stamp duty, for every month or part thereof] from the date of execution of the instrument subject to the payment of a minimum penalty of rupees one hundred]:

3 This proviso was added by Maharashtra 22 of 2001, S.5(a)Provided that, in no case, the amount of the penalty shall exceed double the deficient portion of the stamp duty:

4 These words were substituted by Maharashtra 22 of 2001, S.5(b)[Provided further that], when such instrument has been impounded only because it has been written in contravention of section 13 or section 14, the Collector may, if he thinks fit, remit the whole penalty prescribed by this section.

(2)5 These words, figures and letter was substituted for the words "Every Instrument" by Mah. 27 of 1985 S.25(a), (w.e.f. 10-12-1985)Subject to the provisions of section 53 A, every certificate] under clause (a), of sub -section (1) shall, for the purposes of this Act, be conclusive evidence of the matters stated therein.

(3) Where an instrument has been sent to the Collector under sub-section (2) of section 37 the Collector shall, when he has dealt with it as provided by this section return it to the impounding officer.

Section 40 Instruments unduly stamped by accident

If any instrument chargeable with duty and not duly stamped, not being an instrument chargeable with a duty of twenty naye paise or less is produced by any person of his own motion before the Collector within one year from the date of its execution or first execution, and such person brings to the notice of the Collector the fact that such instrument is not duly stamped and offers to pay to the Collector the amount of the proper duty, or the amount required to make up the same, and the Collector is satisfied that the omission to duly stamp such instrument has been occasioned by accident, mistake or urgent necessity he may instead of proceeding under sections 33 and 39, receive such amount and proceed as next hereinafter prescribed.

Section 41 Endorsement of instruments on which duty has been paid under section 34, 39 or 40

(1) When the duty and penalty (If any) leviable in respect of any instrument1 These brackets,words,figures and letter were inserted by Mah.16 of 1979, S.10 (w.e.f. 4-7-1980)(not, being any instrument referred to in sub-section (1) of section 32-A)], have been paid under section 34, section 39 or section 40, the person admitting such instrument in evidence or the Collector, as the case may be, shall certify by endorsement thereon that the proper duty or, as the case may be the proper duty and penalty (stating the amount of each) have been levied in respect thereof, and the name and residence of the person paying them.

(2)2 These words,letter and figures were substituted for the words "Every instrument",by Mah.27 of 1985, S.25(a) (w.e.f. 10-12-1985)[Subject to the provisions of section 53 A, every instrument] so endorsed shall thereupon be admissible in evidence, and may be registered and acted upon and authenticated as if it had been duly stamped, and shall be delivered3 This portion was substituted by Mah. 27 of 1985, S.25(a) (w.e.f. 10-12-1985)[on the application in this behalf, to the person who produced it, or to the person from whose possession it came into the hands of the Officer impounding it, or to any other person according to the directions of such person:]

Provided that, -

(a) no instrument which has been admitted in evidence upon payment of duty and a penalty under section 34, shall be so delivered before the expiration of one month from the date of such impounding, or if the Collector has certified that its further detention is necessary and has not cancelled such certificate;

(b) nothing in this section shall affect the provisions of rule 9 of Order XIII in Schedule I of the Code of Civil Procedure, 1908.

Section 42 Prosecution for offence against stamp law

The taking of proceedings or the payment of a penalty under this Chapter in respect of any instrument shall not bar the prosecution of any person who appears to have committed an offence against the stamp law in respect of such instrument:

Provided that no such prosecution shall be instituted in the case of any instrument in respect of which such a penalty has been paid, unless it appears to the Collector that the offence was committed with an intention of evading payment of the proper duty.

Section 43 Persons paying duty or penalty may recover same in certain cases

(1) When any duty or penalty has been paid under section 34, section 36, section 39 or section 40, by any person in respect of an instrument, and, by agreement or under the provisions of section 30 or any other enactment in force at the time such instrument was executed, some other person was bound to bear the expense of providing the proper stamp for such instrument, the first me ntioned person sh all be entitled to recover from such other person the amount of the duty or penalty so paid.

(2) For the purpose of such recovery any certificate granted in respect of such instrument under this Act shall be conclusive evidence of the matters therein certified.

(3) Such amount may, if the Court thinks fit, be included in any order as to costs in any suit or proceeding to which such persons are parties and in which instrument has been tendered in evidence. If the Court does not 1 These words were inserted by Mah. 27 of 1985, S.26 (w.e.f. 10-12-1985)for the reasons to be recorded in writing,] include the amount in such ord er, no further proceedings for the recovery of the amount shall be maintainable.

Section 44 Power of Revenue Authority to refund penalty or excess duty in certain cases

(1) Where any penalty is paid under section 34 or section 39, the Chief Controlling Revenue Authority may, upon application in writing made within one year from the date of the payment, refund such penalty wholly or in part.

(2) Where, in the opinion of the Chief Controlling Revenue Authority stamp duty in excess of that which is legally chargeable has been charged and paid under section 34 or section 39, such authority may, upon application in writing made by the party concerned within 1 These words were substituted for the words "three months," by Mah. 27 of 1985, S.27, (w.e.f. 10-12-1985)[one year] from the date of receipt of the order charging the same, refund the excess.

Section 45 Non-liability for loss of instruments sent under section 37

(1) if any instrument sent to the Collector under sub-section (2) of section 37, is lost, destroyed or damaged during transmission, the person sending the same shall not be liable for such loss, destruction or damage.

(2) When any instrument is about to be so sent, the person from whose possession it came into the hands of the person impounding the same, may require a copy thereof to be made at the expense of such first-mentioned person and authenticated by the person impounding such instrument.

Section 46 Recovery of duties and penalties

1 Section 46 was re-numbered as sub-section (1) by Mah. Tax Laws (Levy, Amendment and Validation) Act, 30 of 1997, S.5, (w.e.f. 15-5-1997)(1)] All duties, penalties and other sums required to be paid under this 2 these words were sub stituted for the word "Chapter" by Mah. 17 of 1993, S. 35, (w .e.f 1- 5-1993).Act may be recovered by the Collector by distress and sale of the movable property of the person from whom the same are due, or as an arrear of land revenue.

3 Sub-section (2) and (3) were added by Mah. Tax Laws (Levy. Amendment and Validation) Act, 30 of 1997,s.5(w .e.f 15-5-1997).(2) For the purpose of effecting such recovery, as arrears of land revenue,-

(a) the Chief Controlling Revenue Authority sh all have and exercise all the powers and perform all the duties of the Commissioner under the Maharashtra Land Revenue Code, 1966;

(b) the officer appointed as the Collector under clause (f) of section 2 shall have and exercise all the powers and perform all the duties of the Collector under the said Code.

(3) Every notice issued or ord er passed in exercise of the powers conferred by sub section (2) sh all, for the purposes of this Act, be deemed to be a notice issued or an order passed under this Act.)

CHAPTER 5 ALLOWANCES FOR STAMPS IN CERTAIN CASES

Section 47 Allowance for spoiled stamps

Subject to such rules as may be made by the State Government as to the evidence to be required, or the inquiry to be made, the Collector may on application, made within the period prescribed in section 48, and if he is satisfied as to the facts, make allowance for impressed stamps spoiled in the cases hereinafter mentioned, namely:-

(a) the stamp on any paper inadvertently and undesignedly spoiled, obliterated or by error in writing or any other means rendered unfit for the purpose intended before any instrument written thereon is executed by any person;

(b) the stamp on any document which is written out wholly or in part, but which is not signed or executed by any party thereto;

(c) the stamp used for an instrument executed by any party thereto which-

(1) has been afterwards found 1 These words, were inserted, by Mah. 27 of 1985, (w .e.f 10 - 12 - 1985).[by the party] to be absolutely void in law from the beginning;

2 Clause (1A) was inserted by Mah. 27 of 1985, (w .e.f . 10 - 12 - 1985).(1A) has been afterwards found by the Court, to be absolutely void from the beginning under section 31 of the Specific Relief Act, 1963;]

(2) has been afterwards found unfit, by reason of any error or mistake therein, for the purpose originally intended;

(3) by reason of the death of any person by whom it is necessary that it should be executed, without having executed the same, or of the refusal of any such person to execute the same, cannot be completed so as to effect the intended transaction in the form proposed;

(4) for want of the execution thereof by some material party, and his inability or refusal to sign the same, is in fact incomplete and insufficient for the purpose for which it was intended;

(5) by reason of the refusal of any person to act under the same, or to advance any money intended to be thereby secured, or by the refusal or non-acceptance of any office thereby granted, totally fails of the intended purpose;

(6) becomes useless in consequence of the transaction intended to be thereby effected by some other instrument between the same parties and bearing a stamp of not less value;

(7) is deficient in value and the transaction intended to be thereby effected had been effected by some other instrument between the same parties and bearing a stamp of not less value;

(8) is inadvertently and undesignedly spoiled, and in lieu whereof another instrument made between the same parties and for the same purpose is executed and duly stamped:

Provided that, in the case of an executed instrument,3 These words, brackets, figures and letters were inserted by Mah. 27 of 1985 s. 28 (b)(i), (w .e.f . 10 - 12 - 1985).[except that falling under sub-clause (1 A),] no legal proceeding has been commenced in which the instrument could or would have been given or offered in evidence and that the instrument is given up 4 These words were substituted for the words "to be cancelled", by Mah. 27 of 1985, S.28(b) (ii) (w.e.f. 10-12-1985)to be cancelled, or has been already given up to the Court to be cancelled.]

Section 48 Application for relief under section 47 when to be made

The application for relief under section 47 shall be made within the following period, that is to say,-

(1) in the cases mentioned in clause (c) (5), within 1 These words were substituted for the words "two months," by Mah. 27 of 1985, S.29(a), (w.e.f. 10-12-1985).[six months] of the date of the instruments:

2 This proviso was added by Maharashtra Tax Laws (Levy and Amendment) Act 13 of 1995, S.2, (w.e.f. 1-9-1995).[Provided that where an Agreement to sell immovable property, on which stamp duty is paid under Article 25 of the Schedule I, is presented for registration under the provisions of the Registration Act, 1908 and if the seller refuses to deliver possession of the immovable property which is the subject matter of such agreement the application may be made within two years of the date of the instrument;

3 Clauses (2) and (3) were substituted for the original clauses (2) and (3) and the proviso thereto by Mah. 27 of 1985, S.29(b). (w.e.f. 10-12-1985).[(2) in the case when for unavoidable circumstances any instrument for which another instrument has been substituted cannot be given up to be cancelled, the application may be made within six months after the date of execution of the substituted instrument.

(3) in any other case, within 4 These words were substituted for the words "one year" by Mah. 18 of 1989, S.4. (w.e.f. 1-12-1989).six months from the date of purchase of stamp.

Section 49 Allowance in case of printed forms no longer required by corporations

The Chief Controlling Revenue Authority or the Collector if empowered by the Chief Controlling Revenue Authority in this behalf may without limit of time, make allowance for stamped papers used for printed forms of instrument by any banker or by any incorporated company or other body corporate, if for any sufficient reason such forms have ceased to be required by the said banker, company or body corporate: provided that such authority is satisfied that the duty in respect of such stamped papers has been duly paid.

Section 50 Allowance for misused stamps

(1) When any person has inadvertently used, for an instrument chargeable with duty, a stamp of a description other than that prescribed for such instrument by the rules made under this Act, or a stamp of greater value than was necessary or has inadvertently used any stamp for an instrument not chargeable with any duty; or

(2) when any stamp used for an instrument has been inadvertently rendered useless under section 15, owing to such instrument having been written in contravention of provisions of section 13; the Collector may, on application made within 1 These words were substituted for the words "one year" by Mah. 18 of 1989, S.5, (w.e.f. 1-12-1989).[six months] after the date of the instrument,or, if it is not dated, within 2 These words were substituted for the words "one year" by Mah. 18 of 1989, S.4 (w.e.f. 1-12-1989)[six months] after the execution thereof by the person by whom it was first or alone executed, and upon the instrument, if chargeable with duty, being re-stamped with the proper duty, cancel and allow as spoiled the stamp s 6 misused or rendered useless.

Section 51 Allowance for spoiled or misused stamps how to be made

In any case in which allowance is made for spoiled stamps under section 47 or misused stamps under section 50, or in respect of printed forms no longer required under section 49, the Collector may give, in lieu thereof,-

(a) the same value in money, deducting 2 These words were substituted for the original, by Mah. 18 of 1989, S.6 (w.e.f. 1-12-1989).[therefrom such amount as may be prescribed by rules made in this behalf by the State Government]; or

(b) if the applicant so requires, other stamps of the same description and value; or

(c) if the applicant so requires, stamps of any other description of the same amount in value:

Provided that, in the cases covered by clauses (b) and (c) a stationary charge as may be prescribed by rules made by the State Government shall also be recovered in respect of spoiled or misused stamp papers, surrendered].

Section 52 Allowance for stamps not required for use

When any person is possessed of a stamp or stamps which have not been, spoiled or rendered unfit or useless for the purpose intended, but for which he has no immediate use, the Collector sh all repay to such person the value of such stamp or stamps in money,deducting 1 These words were substituted for the original, by Mah. 18 of 1989, S.6 (w.e.f. 1-12-1989).therefrom such amount as may be prescribed by rules made in this behalf by the State Government], upon such person delivering up the same to be cancelled, and proving to the Collector's satisfaction -

(a) that such stamp or stamps were purchased by such person with a bona fide intention to use them; and

(b) that he has paid the full price thereof; and

(c) that they were so purchased within the period of 2 These words were substituted for the word "one year" by Mah. 18 of 1989, S.7, (w.e.f. 1-12-1989).[six months] next preceding the date on which they were so delivered;

Provided that, where the person is a licensed vendor of stamps, the Collector may, if he thinks fit, make the repayment of the sum actually paid by the vendor without any such deduction as aforesaid.

Section 52A Allowance for duty

(1) Notwithstanding anything contained in sections 47, 50, 51 and 52, when payment of duty is made by stamps or in cash as provided for under sub-section (3) of section 10, and when the amount of duty paid,-

(i) in the Mumbai City District and Mumbai Suburban District exceeds rupees ten lakh ; and.

(ii) in any other District exceeds rupees one lakh,- the concerned Collector shall not make allowance on such application for the stamps, or the cash amount paid under the Challans, which are spoilt or misused or used incorrectly or not required for use, but shall, after making necessary enquiries, forward such application, with his remarks thereon,-

(a) in case of the application falling in clause (i) through the concerned Deputy Inspector General of Registration and Deputy Controller of Stamps of his division, to the Chief Controlling Revenue Authority; and

(b) in case of the applications falling in clause (ii) to the concerned Deputy Inspector General of Registration and Deputy Controller of Stamp of his division.

(2) The concerned Deputy Inspector General of Registration and Deputy Controller of Stamps shall, on receiving such applications,-

(i) in case of the first category of the applications forward the same with his remarks, if any, to the Chief Controlling Revenue Authority for decision; and.

(ii) in case of the second category of applications consider the same and decide whether such allowance shall be given or not and accordingly shall, grant the same, if the amount of allowance does not exceed rupees ten lakh :

Provided that, if on consideration of the application, the amount exceeds rupees ten lakh, the concerned Deputy Inspector General of Registration and Deputy Controllor of Stamps shall submit such application, also with his remarks thereon, to the Chief Controlling Revenue Authority.]

Section 52B Invalidation of stamps and saving

Notwithstanding anything contained in sections 47, 50, 51 and 52,-

(a) Any stamps which have been purchased but have not been used or in respect of which no allowance has been claimed on or before the day immediately preceding the date of commencement of the Bombay Stamp (Amendment) Act, 1989 (h ereinafter referred to as "the commencement date") and the period of six months from the date of purchase of such stamps has not elapsed before the commencement date, may be used before a period of six months from the date of purchase of such stamps is completed, or delivered for claiming the allowance under the relevant provision of this Act; and any stamps not so used or so delivered within the period aforesaid shall be rendered invalid.

(b) Any stamps which have been purchased on or after the commencement date but have not been used, or no allowance has been claimed in respect thereof, within a period of six months from the date of purchase thereof, shall be rendered invalid.]

CHAPTER 6 REFERENCE, REVISION AND APPEAL

1 Heading of Chp VI substituted by Mah.9 of 1997, S.12 (w.e.f. 15-9-1996)

Section 53 Control of and statement of case to Chief Controlling Revenue Authority

(1) The powers exercisable by a Collector under 1 These words and figures were inserted, by Mah. 27 of 1985, S.34(a)(i), (w.e.f 10-12-1985).Chapter III, Chapter IV and Chapter V and under clause (a) of 2 These words were substituted, for the words "the first proviso" by Mah. 27 of 1985, S.34(a)(ii), (w.e.f. 10-12-1985).the second proviso] to section 27 shall in all cases be subject to the control of the Chief Controlling Revenue Authority:

3 Proviso to sub-sec(2) was inserted by Mah. 16 of 1979, S.11 (w.e.f. 10-12-1985)provided that, nothing contained in this sub-section shall apply 4 This portion was substituted by Mah. 16 of 1979, S.11 (w.e.f. 4-7-1980)in relation to any order of the Collector of the District determining the true market value of the immovable property which is the subject matter of the instrumental] referred to in sub-section (1) of section 32A].

5 Sub-sec(1A) was inserted by Mah. 9 of 1997, S.13(b) (w.e.f. 15-9-1996)(1A) Any person aggrieved by an order of the Collector under Chapter III, Chapter IV, Chapter V and under clause (a) of the second proviso to section 27 may, within sixty days from the date of receipt of such order, by an application in writing, accompanied by a fee of three hundred rupees, file an appeal against such order to the Chief Controlling Revenue Authority; who shall, after giving the parties a reasonable opportunity of being heard, consider the case and pass such order thereon as he thinks just and proper and the order so passed shall be final].

(2) If any Collector, acting under section 31, section 39 or section 40, feels doubt as to the amount of duty with which any instrument is chargeable, he may draw up a statement of the case, and refer it, with his own opinion thereon, for the decision of the Chief Controlling Revenue Authority.

(3) Such authority 6 These words were inserted by Mah.27 of 1985, S.34(b) (w.e.f. 10-12-1985)after giving the parties a reasonable opportunity of being heard, shall consider the case and send a copy of its decision to the Collector, who shall proceed to assess and charge the duty (if any) in conformity with such decision.

Section 53A Revision of Collector's decision under sections 32, 39 and 41

(1) Notwithstanding anything contained in sub-section (3) of section 32, sub section (2) of section 39 and sub-section (2) of section 41, when through mistake or other wise any instrument is charged with less duty than leviable thereon, or is held not chargeable with duty, as the case may be, by the Collector, the Chief Controlling Revenue Authority may, within a period of six years from the date of certificate of the Collector under section 32, 39 or 41, as the case may be, require the concerned party to produce before hi m the instrument and, after giving a reasonable opportunity of being heard to the party, examine such instrument whether any duty is chargeable, or any duty is less levied, thereon and ord er the recovery of the deficit duty, if any, from the concerned party. An endorsement shall thereafter be made on the instrument after payment of such deficit duty.

(2) On failure to produce the original instrument by the party, the Chief Controlling Revenue Authority sh all proceed under this section on the basis of the true copy or an abstract of the instrument filed with the Collector under section 31 or sub-section (2) of section 37 and such copy or abstract shall be deemed to be the original instrument for the purposes of this section.]

Section 54 Statement of case by Chief Controlling Revenue Authority to high Court

1 Sub-section (1) was sub stituted for the original by Mah. 27 of 1985, S.36, (w.e.f. 10-12-1985).[(1) The Chief Controlling Revenue Authority may state any case -

(a) referred to it under sub-section (2) of section 53;

(b) on an application made to it by the party interested, within the period, which in the opinion of the Authority is reasonable, raising a substantial question of law for referring the same; or

(c) otherwise coming to its notice; and refer such case formulating the precise question with its own opinion thereon(tm) to the High Court.]

(2) Every such case sh all be decided by not less than three Judges of the High Court and in case of difference, the opinion of the maj ority shall prevail.

Section 55 Power of High Court to call for further particulars as to case stated

If the High Court is not satisfied that the statements contained in the case are sufficient to enable it to determine the questions raised thereby, the High Court may refer the case back to the Revenue Authority by which it was stated to make such additions thereto or alterations therein as the High Court may direct in that behalf.

Section 56 Procedure in disposing of case stated

(1) The High Court upon the hearing of any such case sh all decide the question raised thereby, and shall deliver its judgement thereon containing the grounds on which such decision is founded.

(2) The High Court sh all send to the Revenue Authority, by which the case was stated a copy of such judgement under the seal of the Court and the signature of the Registrar; and the Revenue Authority shall, on receiving such copy, 1 These words were substituted by Mah. 27 of 1985, S.37 (w.e.f. 10-12-1985)pass such orders as are necessary for disposal of the case conformably to such judgement.]

Section 57 Statement of case by other Courts to High Court

(1) If any Court, other than the High Court, feels doubts asto the amount of duty, to be paid in respect of any instrument under clause (a)of the proviso to section 34, the Judge may draw up a statement of the case and refer it, withhis ownopinion thereon, for the decision of the High Court.

(2) TheHigh Court shall deal with the case as if it had been referred undersection 54, and send a copy of its judgement under the sealof the Court and the signature of the Registrar to the Chief ControllingRevenue Authority and another like copy to the Judgemaking the reference, who shall,on receiving such copy, dispose of the case conformably to such judgement.

(3) Reference made under sub-section (1),when made bya Court subordinate to a DistrictCourt, shall be made through theDistrict Court, and, when made by any SubordinateRevenue Court, shall be made through theCourt immediately superior.

1 Sub-section (4) was added by Mah. 27 of 1985, S.38, (w.e.f. 10-12-1985).(4) Without prejudice tothe provisions of section 58, no Court shall take action under this section, -

(a) where the instrument has already been impoundedor a penalty is levied in respect thereof under clause (a) of the proviso tosection 34; or

(b) in the case to which section35 applies.]

Section 58 Revision of certain decisions of Courts regarding the sufficiency of stamps

(1) When any Court in the exercise of its civil or revenue jurisdiction or any Criminal Court in any proceeding 1 These words, figures and letter were substituted by Mah.27 of 1985, S.39(a) (w.e.f. 10-12-1985)[under Chapter IX or Part D of Chapter X of the Code of Criminal Procedure 1973 ,] makes any ord er admitting any instrument in evidence as duly stamped or as not requiring a stamp, or upon payment of duty and a penalty under section 34, the Court to which appeals lie from, or references are made by, such first-mentioned Court may, of its own motion or on the application of the Collector, take such order into consideration.

(2) If such Court, after such consideration is of opinion that such instrument sh ould not have been admitted in evidence without the payment of duty and penalty under section 34, or without the payment of a hi gher duty and penalty than those paid, it may record a declaration to that effect, and determine the amount of duty with which such instrument is chargeable, 2 This portion was substituted, by Mah.27 of 1985, S.39(b) (w.e.f. 10-12-1985)and may require,-

(i) the party or person concerned to make the payment of the proper duty or the amount required to make up the same, together with a penalty under section 34, or payment of a higher duty and penalty than those paid, to itself or to the Collector; and

(ii) any person is whose possession or power such instrument then is, to produce the same, and may impound the same when produced.]

(3) When any declaration has been recorded under sub-section (2), the Court recording the same shall send a copy thereof to the Collector, and, where the instrument to which it relates has been impounded or is other wise in the possession of such Court, shall also send him such instrument.

3 Sub-section(3A)and(3B) were inserted by Mah. 27 of 1985, S.39(b) (w.e.f. 10-12-1985)(3A) When the duty and penalty leviable in respect of any instrument in accordance with, the declaration made under sub-section (3) and required to be paid thereunder are paid to the Court or to the Collector, then the Court or, as the case may be, the Collector shall certify by endorsement thereon that the proper duty and penalty, stating the amount of each, have been levied in respect of such instrument, and the name and residence of the person paying the same.

(3B) Every instrument so endorsed sh all thereupon be delivered, on an application in this behalf, to the person from whose possession the instrument came in the possession of such Court, or as such person may direct, to any other person authorised by him.]

(4) The Collector may thereupon, notwithstanding anything contained in the order admitting such instrument in evidence, or in any certificate granted under section 41, or in section 42, prosecute any person for any offence against the stamp law which the Collector considers him to have committed in respect of such instrument: Provided that -

(a) no such prosecution sh all be instituted where the amount including duty and penalty, which, according to the determination of such Court, was payable in respect of the instrument under section 34 ,4 These words were substituted, by Mah.27 of 1985, S.39(b) (w.e.f. 10-12-1985)[is paid to the Court or the Collector, unless the Collector thinks] that the offence was committed with an intention of evading payment of the proper duty;

(b) except for the purposes of such prosecution no declaration made under this section shall affect the validity of any ord er admitting any instrument in evidence or of any certificate granted under section 41.

CHAPTER 7 OFFENCES AND PROCEDURE

Section 59 Penalty for executing etc. instrument not duly stamped

(1)1 These words were substituted for the original, by Mah.27 of 1985, S.41 (w.e.f. 10-12-1985)Any person who, with the intention to evade the duty, executes or signs] other wise than as a witness any instrument chargeable with duty without the same being duly stamped shall, on conviction, for every such offence2 This portion was substituted for the original, by Mah.18 of 1989, S.9 (w.e.f. 1-12-1989)[be punished with rigorous imprisonment for a term which shall not be less than one month but which may extend to six months and with fine which may extend to five thousand rupees]:

Provided that, when any penalty has been paid in respect of any instrument under section 34, section 39 or section 58, the amount of such penalty sh all be allowed in reduction of the fine (if any) subsequently imposed under this section in respect of the same instrument upon the person who paid such penalty.

(2) If a sh are warrant is issued without being duly stamped, the company issuing the same, and also every person who, at the time when it is issued, is the managing director or secretary or other principal officer of the company, shall, on conviction, be punished with fine which may extend to five hundred rupees.

Section 59A No prosecution under section 59, if instrument admitted by Court

No person shall be prosecuted under section 59, in respect of an instrument which was produced in Court and which was admitted after a decision by the Court that the said instrument was duly stamped or that no stamp was required.].

Section 60 Penalty for making false declaration on clearance list

Any person who in a clearance list makes a declaration which is false or which he either knows or believes to be false, sh all, on conviction, be punished with 1 These words were substituted, by Mah. 18 of 1989, S.10 (w.e.f. 1-12-1989)[rigorous imprisonment for a term which shall not be less than one month but which may extend to six months and with fine which may extend to five thousand rupees.]

Section 61 Penalty for failure to cancel adhesive stamp

Any person required by section 12 to cancel an adhesive stamp, fails to cancel such stamp in the manner prescribed by that section he shall, on conviction be punished with fine which may extend to one hundred rupees.

Section 62 Penalty for omission to comply with provisions of section 28

Any person who, with intent to defraud the Government, -

(a) executes any instrument in which all the facts and circumstances required by section 28 to be set forth in such instrument are not fully and truly set forth; or

(b) being employed or concerned in or about the preparation of any instrument, neglects or omits fully and truly to set forth therein all such facts and circumstances; or

(c)1 These words were substituted, by Mah. 27 of 1985, S.42 (w.e.f. 10-12-1985)[makes, any false statement or does any other act] calculated to deprive the Government of any duty or penalty under this Act,shall, on conviction, be punished with a fine which may extend to five thousand rupees.

Section 63 Penalty for breach of rule relating to sale of stamps and for unauthorised sale

(a)Any person appointed, to sell stamps who disobeys any rule made under section 69; and

1 cl(b) was substituted for the original, by Mah.27 of 1985, S.43 (w.e.f. 10-12-1985)(b) any person not so appointed, who carries onbusiness of dealing in stamps other than adhesive stamps oftwenty paise or of lesservalue.]shall,on conviction, be punished with 2 These words were substituted for the original, by Mah. 18 of 1989, S.11 (w.e.f. 1-12-1989)[rigorous imprisonment for a term which shall notbe less than one month but which may extend to six months and with fine whichmay extend to five thousand rupees].

Section 63A Non-remittance of stamp duty within prescribed time to be offence

VV179[

(1) Any person who, before the date of commencement of the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 1997 (hereinafter, in this section, referred to as "the said date"), has collected or any time after the said date collects, from any person, any sum purporting to be towards the payment of stamp duty, shall within 120 days from the said date or, as the case may be, within 30 days from the date of collection of such amount, remit the same in Government Treasury or General Stamp Office, Mumbai, or any other place as the State Government may, by notification in the Official Gazette, specify in this behalf.

(2) Whoever contravenes the provisions of sub-section (1) shall, on conviction, be punished with rigorous imprisonment for a term which shall not be less than one month but which may extent to six months and with a fine which may extend to five thousand rupees.]

Section 64 Institution and conduct of prosecutions

(1) No prosecution in respect of any offence punishable under this Act or any Act hereby repealed shall be instituted without the sanction of the Collector or such other officer as the State Government generally, or the Collector specially, authorises in that behalf.

(2) The Chief Controlling Revenue Authority or any officer generally or specially authorised by it in this behalf, may stay any such prosecution or compound any such offence.

(3) The amount of any such composition shall be recoverable in the manner provided by section 46.

Section 65 [Jurisdiction to try offences]

Deleted by Mah. 27 of 1985, S.44, (w.e.f. 10-12-1985)

Section 66 Place of trial

[ Every offence under this Act committed in respect of any instrument may be tried in any district or a Metropolitan area in which such instrument is executed, or found or where such offence is triable under the Code of Criminal Procedure, 1973.]

CHAPTER 8 SUPPLEMENTAL PROVISIONS

Section 67 Books etc. to be open to inspection

Every public officer having in hi s custody any registers, books, records, papers, documents or proceedings, the inspection whereof may tend to secure any duty, or to prove or lead to the discovery of any fraud or omission in relation to any duty, sh all at all reasonable times permit any person authorised in writing1 These words were inserted by Mah. 27 of 1985, S.46(a), (w.e.f. 10.12.1985).[by the State Government or] by the Collector to inspect for such purpose, the register, books, papers, documents and proceedings and to take such notes and extracts as he may deem necessary without fee or charge2 These words were added by Mah. 27 of 1985, S.46(b), (w.e.f. 10.12.1985).[and, if necessary, to seize and impound them under section 33.]

Section 68 Collector's power to authorise officer to enter premises and inspect certain documents

The Collector may, where he has reason to believe that all or any of the instruments specified in 1 These words and figures "Articles 5, 13, 19, 20, 21, 22, 23, 28, 29, 34, 35, 36, 43, 54 and 62 of," were deleted by Mah. 27 of 1985, S.47, (w.e.f. 10-12-1985)[* * *] Schedule-I have not been charged at all or incorrectly charged with duty leviable under this Act, authorise in writing any officer to enter upon any premises where he has reason to believe that any registers, books, records, documents or proceedings relating to or in connection with any such instrument are kept and to inspect them and to take such notes and extracts as such officer, deems necessary. Every person having in hi s custody or maintaining such registers, books, records, papers, documents or proceedings shall at all reasonable times permit the officer authorised by the Collector to inspect them and take the notes and extracts as he may deem necessary2 These words and figures were added by Mah. 13 of 1974, S.4(a), (w.e.f. 1.5.1974)[and if necessary seize and impound them under section 33.]

Section 69 Power to make rules

(1)The StateGovernment may, by notification in the OfficialGazette, make rules to carry out generally the purposes of this Act, andsuch rules may provide that a breach thereof shall, on conviction, be punished with fine not exceeding five hundred rupees.

(2) Without prejudice tothe generality of the powers conferred by sub-section(1),and in particular such rules 2 These words were substituted for the words "may regulate, " by Mah. 9 of 1988, S.37(a), (w.e.f. 22.4.1988) [may regulate, or providefor all or any of the following matters, namely:

(a) the supply, sale and use of stamps and stampedpapers;

(b) the persons by whom alone such sale is to beconducted;3 The word "and"was deleted by Mah. 9 of 1988, S.37(b), (w.e.f. 22.4.1988) [x]

(c) the duties and remuneration of such persons;4 The word "and"was added by Mah. 9 of 1988 and deleted, by Mah. 18 of 1989, S.12(a) (w.e.f. 1-12-1989) [x]

5 Cl. (d) was inserted by Mah. 9 of 1988, S.37(d) (w.e.f. 22-4-1988) [(d) the manner ofascertaining the true market value of immovable property:]

6 Clause (e) and (f) wereadded by Mah. 18 of 1989, S.12(b) (w.e.f. 1-12-1989) [(e)theprocedure for suo moto revisionproceedings; and

(f) the amount to be deducted from the allowance ofstamps under section 47, 50, 51 or 52:]

Provided that, such rules shall not restrict the sale of adhesive stamps of twentypaise or of lesser value.

(3) All rules made underthis Act shall be made subject to the condition of previous publication in the Official Gazette:

7 This proviso was addedby Maharashtra Tax Laws (Levy, Amendment and Validation) Act 12 of 1995, S.2, (w.e.f. 8.6.1995) [Provided that, if theState Government is satisfied that circumstances exist which render it necessary to take immediate action, it may dispense with the condition ofprevious publication of any rule to be made under this section.]

(4) Every rule made underthis section shall be laid, as soon asmay be, after it is made, before each House of the State Legislature while itis in session for a total period of thirty days, which may be comprised in onesession or in two successive sessions, and if, before the expiry of the sessionin which it is so laid or the session immediately following, both Houses agreein making any modification in the rule, or both Houses agree that the rule should not be made, and notify such decision in the Official Gazette, the rule shall,from the date of publication of such notification,have effect only in such modified form or be of no effect, as the case may be;so, however, that any such modification or annulment shall be without prejudice to the validity of anythingpreviously done or omitted to be done under that rule.

Section 70 Rounding off of fractions in duty payable or allowances to be made

In determining the amount of duty payable, or of the allowance to be made, under this Act, any fraction of ten paise equal to or exceeding five paise shall be rounded off to the next ten paise, and fractions of less than five paise shall be disregarded.

Section 71 Publication of rules.

1 Deleted by Mah. 27 of 1985Deleted by Mah. 27 of 1985, S.48, (w.e.f. 10-12-1985)

Section 72 Delegation of certain powers

The State Government may by notification in the Official Gazette, delegate-

(a) all or any of the powers conferred on it by sections 2 (f), 33 (3) (b),[ 64 1 these figures and word were substituted for the original by Mah. 17 of 1993, S.36 (w.e.f 1-5-1993)and 69] to the Chief Controlling Revenue Authority; and

(b) all or any of the powers conferred on the Chief Controlling Revenue Authority by sections 44, 53 (1) and 64 (2) to such Subordinate Revenue Authority as may be specified in the notification.

Section 73 Saving as court-fees

Nothing in this Act contained shall be deemed to affect the duties chargeable under any enactment for the time being in force relating to court-fees.

Section 73A .

[Use of former State Stamps permissible for certain period to be notified.] Deleted by Mah. 27 of 1985, S.49, (w.e.f. 10-12-1985).

Section 73B .

[Use of Bombay Government Stamps by Maharashtra for certain period.] Deleted by Mah. 27 of 1985, S.49, (w.e.f. 10-12-1985).

Section 74 Act not applicable to rates of stamp duty on bills of exchange etc

For the avoidance of doubt, it is hereby declared that nothing in this Act shall apply to rates of stamp duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts.

Section 75 Act to be translated and sold cheaply

The State Government sh all make provision for the sale of translation of this Act in 1 These words were substituted by Mah. 27 of 1985, S.50(a) (w.e.f. 10-12-1985)[Marathi and Hi ndi] at a price2 These words were substituted by Mah. 17 of 1993, S.37 (w.e.f. 1-5-1993)[as may be fixed from time to time] per copy.

Section 76 Repeal of enactments

(1) The enactments specified in column 3 of Schedule II hereto annexed shall be repealed in the manner and to the extent specified in column 4 thereof: Provided that, the repeal hereby made shall not affect-

(i) any right, title, obligation, or liability already acquired, accrued or incurred or anything done or suffered.

(ii) any legal proceeding or remedy in respect of any such right, title, obligation or liability;under the provisions of the enactments hereby repealed and any such proceeding may, be instituted, continued and disposed of arid any such remedy may be enforced as if this Act had not been passed.

(2) Any appointment, notification, notice, order, rule or form made or issued under any of the enactments hereby repealed shall be deemed to have been, made or issued under the provisions of this Act, in so far as such appointments, notification, notice, order, rule or form is not inconsistent with the provisions of this Act and shall continue in force, unless and until is superseded by an appointment, notification, notice, order, rule or form made or issued under this Act.

(3) All stamps in denominations of annas four or multiples thereof shall be deemed to be stamps of the value of twenty-five naya paise or, as the case may be multiples thereof and valid accordingly.

SCHEDULE 1 STAMP DUTY ON INSTRUMENTS

1 Sch. I was substituted by Mah. 27 of 19852 Renumbered by Mah Tax Laws (Levy and Amendment) Act 29 of 1994, S.3(9), (w.e.f. 1.5.1994)3 Sub-clause (a) deleted by Maharashtra 32 of 2005 (w.e.f 7-05-2005)4 Sub-clause (b) deleted by Maharashtra 32 of 2005 (w.e.f 7-05-2005)5 Substituted by Maharashtra Act. No. 13 of 2004 S.66 Clause (2) inserted by Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1.5.1994)7 substituted by Mah Act. NO. 13 of 2004 S.68 These words were substituted by Maharashtra 22 of 2001, S.6(a)9 Substituted by Maharashtra Act. No 13 of 2004 S.610 Substituted by Maharashtra 32 of 2005 (w.r.e.f 7-05-2005)11 Substituted by Maharashtra 32 of 2005 (w.r.e.f 7-05-2005)12 Substituted by Maharashtra 32 of 2005 (w.r.e.f 7-05-2005)13 Substituted by Maharashtra 32 of 2005 (w.r.e.f 7-05-2005)14 Substituted by Maharashtra 32 of 2005 (w.r.e.f 7-05-2005)15 Clause (g-a) renumbered as sub-clause )i) by Maharashtra 32 of 2005 (w.e.f 7-05-2005)16 Added by Maharashtra 32 of 2005 (w.r.e.f 7-05-2005)17 Clauses (g-a), (g-b) and (g-c) were inserted by Maharashtra 29 of 1994 and deleted by Maharashtra 38 of 1994 (w.e.f.17-8-1994) Cl.(g-a) inserted by Maharashtra 9 of 1997, S.14(2) (w.e.f. 15-9-1996)18 Clauses (g-a), (g-b) and (g-c) were inserted by Maharashtra 29 of 1994 and deleted by Maharashtra 38 of 1994 (w.e.f.17-8-1994) Cl.(g-a) inserted by Maharashtra 9 of 1997, S. 14(2) (w.e.f. 15-9-1996)19 Clauses (g-d) inserted Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1.5.1994)20 These words were substituted for 'one thousand rupees' by maharashtra Act 22 of 2001, S.6(b)(1)(i)21 These words were substituted for 'one hundred rupees' by maharashtra Act 22 of 2001, S.6(b)(1)(ii)22 These words were substituted for 'five hundred rupees' by maharashtra Act 22 of 2001, S.6(b)(2)(i)23 These words were substituted for 'fifty rupees' by maharashtra Act 22 of 2001, S.6(b)(2)(ii)24 Sub-cl(iii) was substituted by maharashtra Act 22 of 2001, S. 6(b)(3)25 Clauses (g-e) inserted Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1.5.1994)26 Explanation I and II inserted Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, and deleted by Maharashtra 38 of 1994 (w.e.f. 1.5.1994)27 These words were substituted for 'one thousand rupees' by maharashtra Act 22 of 2001, S.6(b)(1)(ii)28 Clause(h) substituted by maharashtra 32 of 2005, (w.e.f 7-05-2005)29 Substituted for Two rupees and fifty pase" by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006)30 Inserted by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006)31 Cls.(b)and(c) were deleted by Maharashtra 9 of 198832 Cls.(b)and(c) were deleted by Maharashtra 9 of 198833 Clauses(1)and(2)were substituted by Maharashtra Act 20 of 2002, S.8(a)(i),(w.e.f. 1-5-2002)34 Substituted by Maharashtra Act. No.13 of 2004 S.635 Substituted for 'five rupees' by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006)36

Substituted by maharashtra 32 of 2005, (w.e.f 7-05-2005)37 Substituted for 'ten lakh rupees' by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006)38 Substituted by Maharashtra Act. No.13 of 2004 S.639 Substituted for 'five rupees' by The Bombay Stamp (Amendment) Act, 2006(Act No. 12 of 2006) (w.e.f 01-05-2006)40 Substituted by maharashtra 32 of 2005, (w.r.e.f 7-05-2005)41 Substituted for 'ten lakh rupees' by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006)42 Explanation re-numbered as "Explanation I" Maharashtra Act 20 of 2002, S.8(a)(ii), (w.e.f. 1-5-2002)43 Exemption 1 deleted by Maharashtra 9 of 1997, S.14(3)(b) (w.e.f. 15-9-1996)44 This Exemption II was added by Maharashtra Act 20 of 2002, S.8(a)(ii) (w.e.f. 1-5-2002)45 Substituted by maharashtra 17 of 1993, S.38 (w.e.f 1-05-1993)46 Substituted by maharashtra 17 of 1993, S.38 (w.e.f 1-05-1993)47 Substituted by Maharashtra Act. No.13 of 2004 S.648 Substituted by Maharashtra Act. No.13 of 2004 S.649 These words were subsituted for the words "On the share capital", by Maharashtra Act 9 of 1988, S.38(c) (w.e.f. 17-3-1988)50 This portion was added by Maharashtra Act 22 of 2001, S.6(c) (w.e.f. 1-5-2001)51 Substituted by Maharashtra 17 of 1993, S.38(b) (w.e.f. 1-5-1993)52 Substituted by maharashtra 32 of 2005, (w.e.f 7-05-2005)53 Substituted by Maharashtra 17 of 1993, S.38(7) (w.e.f. 1-5-1993)54 Substituted by Maharashtra 17 of 1993, S.38(7) (w.e.f. 1-5-1993)55 Substituted by Maharashtra Act. No.13 of 2004 S.656 Substituted by Maharashtra 17 of 1993, S.38(7) (w.e.f.1-5-1993)57 Substituted by Maharashtra 17 of 1993, S.38(7) (w.e.f.1-5-1993)58 Substituted by Maharashtra Act. No.13 of 2004 S.659 These words were Substituted for the words'forty rupees' by Maharashtra Act 22 of 2001, S.6(d) (w.e.f. 01-05-2001)60 Those brakets, letters and words were substituted for the words, brackets and letters "or(c)", by Maharashtra 29 of 1994, (w.e.f. 1-5-1994)61 Article 17 substituted by Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1-5-1994)62 Substituted by Maharashtra Act. No.13 of 2004 S.663 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(e) (w.e.f 1-5-2001)

[Schedule I

Stamp Duty On Instruments

(SEE SECTION 3)

DESCRIPTION OF INSTRUMENT

PROPER STAMP DUTY

1

2

1.

ACKNOWLEDGEMENT of--

(1) a debt written or signed by, or on behalf of, a debtor in order to supply evidence of such debt in any book (other than a banker's pass book) or on a separate piece of paper when such book or paper is left in the creditor's possession, and the amount or value of such debt--

(a) ***

(b) ***

(c) exceeds rupees 5, 000 but

does not exceed rupees 10,000

One rupee.

(d) for every rupees 10, 000 or part thereof in excess of rupees 10, 000.

One rupee subject to a maximum of [One hundred rupees]

[(2)] a letter, article, document, parcel, package or consignment, of any nature or description whatsoever or by whatever name called, given by a person, courier company, firm or body of persons whether incorporated or un incorporated to the sender of such letter, article, document, parcel, package or consignment.

One rupee for every rupees one hundred or part thereof of the amount charged there for;

DESCRIPTION OF INSTRUMENT

PROPER STAMP DUTY

1

2

2.

ADMINISTRATION BOND, including a bond given under section 6 of the Government Savings Banks Act, 1873(V of 1873) or the Indian Succession Act, 1925, XXXIX of 1925)

(a) where the amount does not exceed rupees 2,500;

The same duty as Bond (Article 13) for such amount.

(b) in any other case.

One hundred rupees.

3.

ADOPTION DEED, that is to say, any instrument (other than a Will) recording an adoption or conferring or purporting to confer an authority to adopt.

Two hundred rupees.

4.

AFFIDAVIT, that is to say, a statement in writing purporting to be a statement of facts, signed by the person making it and confirmed by him on oath or, in the case of persons by law allowed to affirm or declare instead of swearing, by affirmation.

One hundred rupees.

Affidavit or declaration in writing when made --

(a) as a condition of enrolment under the Air Force Act, 1950, (XLV of 1950) the Army Act, 1950 (XLVI of 1950) or the Navy Act, 1957 (LXII of 1957);

(b)for the immediate purposes of being filed or used in any Court or before the officer of any Court; or

(c) for the sole purpose of enabling any person to receive any pension or charitable allowance.

5.

AGREEMENT OR ITS RECORDS OR MEMORANDUM OF AN AGREEMENT,-

(a) if relating to the sale of a bill of exchange;

One rupee for every rupees 10, 000 or part thereof.

(b) if relating to the purchase of sale of a Government security;

Fifty paise for every rupees 1, 00, 000 or part thereof of the value of security at the time of its purchase or sale, as the case may be

(c) if relating to the purchase or sale of shares, scrips, stocks, bonds, debentures, debenture stocks or any other marketable security of a like nature in or of any incorporated company or other body corporate--

(i) when such agreement or memorandum of an agreement is with or through a member or between members of Stock Exchange recognised under the Securities Contracts (Regulation) Act, 1956 (XLII of 1956)

One rupee for every rupees 10, 000 or part thereof of the value of the security at the time of its purchase or sale, as the case may be.

(ii) in any other case;

One rupee for every rupees 10, 000 or part thereof of the value of the security at the time of its purchase or sale, as the case may be.

(d) if relating to the purchase or sale of cotton;

One rupee for every rupees 10, 000 or part thereof of the value of cotton

(e) if relating to the purchase or sale of bullion or species;

One rupee for every rupees 10, 000 or part thereof of the value of silver or gold or sovereign, as the case may be.

(f) if relating to purchase or sale of oil seeds;

One rupee for every rupees 10, 000 or part thereof of the value of oil seeds

(g) if relating to the purchase or sale of yarn of any kind, non-mineral oils or spices of any kind;

One rupee for every rupees 10, 000 or part thereof of the value of yarn of any kind, non-mineral oil or spices of any kind, as the case may be. ]

(i) if relating to giving authority or power to a promoter or a developer, by whatever name called, for construction on, development of or, sale or transfer (in any manner whatsoever) of, any immovable property.

Five rupees for every five hundred rupees or part thereof of the market value of the property:

Provided that, the provisions of section 32A shall, mutatis mutandis, apply to such agreement, records thereof or memorandum, as they apply to an instrument under that section:

Provided further that, if the proper stamp duty is paid under clause (g) of article 48 on a power of attorney executed between the same parties in respect of the same property then, the stamp duty under this article shall be one hundred rupees.]

(ii) if relating to the purchase of one or more units in any scheme or project by an investor from a developer :

Same duty as is leviable on conveyances under clause (a), (b), (c) or (d), as the case may be, of article 25 on the market value of the unit ]

Provided that, no conveyance of property by the investor, under an agreement under this sub-clause to the subsequent purchaser, the duty chargeable for each unit under this clause shall be adjusted against duty chargeable under Article 25 (conveyance) after keeping the balance of one hundred rupees, if such transfer or assignment is made within a period of three years from the date of the agreement . If on adjustment, no duty is required to be paid, then the minimum duty for the conveyance shall be rupees one thousand.

Explanation- For the purposes of this clause, the unit shall include a flat, apartment, tenement, block or any other unit by whatever name called, as approved by the Competent Authority in the building plan.

(g-b) Omitted

(g-c) Omitted

(g-d) if relating to transfer of tenancy of immovable property, for every square metre of the area of the tenanted property the right of tenancy in which is the subject matter of transfer and situated within the limits of--

(i) the Municipal Corporation of Greater Bombay--

(A) for the purpose of non-residential use of any nature whatsoever;

Two thousand rupees

(B) for the purpose of residential use;

Two hundred rupees.

(ii) the Municipal Corporations of the Cities of Thane, Pune, Nagpur and Navi Mumbai--

(A) for the purposes of non-residential use of any nature what-soever;

One thousand rupe.

(B) for the purpose of residential use;

One hundred rupees.

[(iii) any Municipal Corporations other than those Municipal Corporations mentioned in columns (i) and (ii)--

(A) for the purpose of non-residential use of any nature whatsoever;

Four hundred rupees.

(B) for the purpose of residential use;

fifty rupees.]

[(g-e) if relating to hire-purchase

Same duty as is payable under Article 36.

Explanation I.- **

Explanation II.- **

(h) (A) if relating to -

(i) any advertisement on mass media, made for promotion of any product; or programme or event with an intention to make profits or business out of it .

Two rupees and fifty paise for every rupees 1, 000 or part thereof on the amount agreed in the contract

(ii) conferring exclusive rights of telecasting, broadcasting or exhibition of an event or a film.

Two rupees and fifty paise for every rupees 1, 000 or part thereof on the amount agreed in the contract

(iii) specific performance by any person or a group of persons where the value of contract exceeds rupees 1, 00, 000

Two rupees and fifty paise for every rupees 1, 000 or part thereof on the amount agreed in the contract

(iv) creation of any obligation, right or interest and having monetary value, but not covered under this article

Two rupees and fifty paise for every rupees 1, 000 or part thereof on the amount agreed in the contract

(v) assignment of copyright under the Copyright Act, 1957.

Two rupees and fifty paise for every rupees 1, 000 or part thereof on the amount agreed in the contract of the value signed for such assignment.

[(vi) project under Built, Operate and Transfer (BOT) system, whether with or without toll or fee collection rights.

One rupee for every rupees 1,000 or part thereof of the contractual

Value subject to minimum of rupees

100 and maximum of rupees 5,00,000]

(B) if not otherwise provided for

One hundred rupees.]

EXPLANATION No duty shall be chargeable on agreements

Or its record covered under sub-clauses (b) and (c) of this

Article, if proper duty is paid under article 51A.

Agreement or its records or Memorandum of Agreement--

(a) for or relating to the purchase of sale of goods or merchandise exclusively, not being an agreement or memorandum of agreement chargeable under entry (d), entry (e), entry (f) or entry (g) of this Article or a note or memorandum chargeable under Article 43;

(b) Omitted

(c) Omitted

6.

AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE, OR HYPOTHECATION, that is to say, any instrument evidencing an agreement relating to-

[(1) The deposit of title deeds or instrument constituting or being evidence of the title to any property whatever (other than a Marketable security), where such deposit has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt--

One Rupee for every [one thousand] or part thereof for the amount secured by such deed subject to the minimum of one hundred rupees and maximum of five lakh rupees.

(2) The pawn, pledge, or hypothecation of movable property, where such pawn, pledge or hypothecation has been made by way of security for their repayment of money advanced or to be advanced by way of loan or an existing or future debt-

[One rupee] for every 9[one thousand] or part thereof for the amount secured by such deed subject to the minimum of one hundred rupees and maximum of five lakh rupees.

Explanation:-I.--For the purposes of clause (1) of this Article, notwithstanding anything contained in any judgment, decree or order of any court or order of any authority, any letter, note, memorandum or writing relating to the deposit of title deeds whether written or made either before or at the time when or after the deposit of title deeds is effected, and whether it is in respect of the security for the first loan or any additional loan or loans taken subsequently, such letter, note, memorandum or writing shall, in the absence of any separate agreement or memorandum of agreement relating to deposit of such title deeds, be deemed to be an instrument evidencing an agreement relating to the deposit of title deeds.

Exemptions

(1) ***

(2) Letter of hypothecation accompanying a bill of exchange.

Explanation II-- For the purposes of this Article, the maximum duty of ten lakh rupees shall be leviable for a single instrument involved in a one time transaction. Instrument of other or subsequent transaction in respect of the same property or of renewal clause in the same instrument shall be treated as a fresh instrument.]

7.

APPOINTMENT IN EXECUTION OF A POWER; where made by any writing not being a will--

(a) of trustees.

One hundred rupees.

(b) of property movable or immovable.

Two hundred and fifty rupees.

8.

APPRAISEMENT OR VALUATION, made otherwise than under an order of the court in the course of a suit.

Same duty as per Bond (Article 23) subject to maximum of [one hundred rupees.

Exemption

(a) Appraisement on valuation made for the information of one party only, and not being in any manner obligatory between parties either by agreement or operation of law.

(b) Appraisement of crops for the purpose of ascertaining the amount to be given to a land lord as rent.

9.

APPRENTICESHIP DEED, including every writing relating to the service or tuition of any apprentice clerk or servant, placed with any master to learn any profession, trade or employment, not being of articles of clerkship (Article 11).

One hundred Rupees

Exemption

Instrument of apprenticeship executed under the Apprentices Act, 1961, or by which a person is apprenticed by or at the charge of any public charity.

10.

ARTICLES OF ASSOCIATION OF A COMPANY--

Where the Company has no share capital or nominal share capital or increased share capital.

One thousand rupees for every rupees 5, 00, 000 or part thereof, subject to a maximum of Rs. 50, 00, 000].

Exemption

Articles of any association not formed for profit and registered under section 25 of the Companies Act, 1956 [See also Memorandum of Association of a Company (Article 38).

11.

ARTICLES OF CLERKSHIP or contract whereby any person first becomes bound to serve as a clerk in order to his admission as an Attorney in any High Court

Seven hundred and fifty rupees.

ASSIGNMENT, [See development agreement (Article 5(g-a) Conveyance] (Article 25), Transfer (Article 59) and Transfer of lease (Article 60), as the case may be.

AUTHORITY TO ADOPT, See Adoption Deed (Article 3).

12.

AWARD, that is to say, any decision in writing by an arbitrator or umpire, on a reference made otherwise than by an order of the Court in the course of a suit, being an award made as a result of a written agreement to submit, present or future differences to Arbitration but not being an award directing a partition"

(a) on the amount of value of the property to which the award relates as set forth in the award.

The same duty as Bond (Article 13), subject to a maximum of

One hundred rupees.

(b) in any other case.

One hundred rupees.

Exemption

Award under section 18 of the Bombay Hereditary Offices Act, 1874 (Bom III of 1874) or section 330 of the Maharashtra Municipalities Act, 1965 (Mah. XL of 1965).

13.

BOND not being a debenture and not being otherwise provided for by any provisions of this Act (whether or not such provisions relate to any particular types of Bonds), or by the Bombay Court-fees Act, 1959 (Bom. XXXVI of 1959) for every rupees five hundred or part thereof.

[Five rupees subject to minimum of rupees one hundred.]

Exemption

Bond when executed by any person for the purpose of guaranteeing that the local income derived from private subscriptions or a charitable dispensary or hospital or any other object of public utility shall not be less than a specific sum per mensem.

14.

BOTTOMRY BOND, that is to say, any instrument whereby the master of a seagoing ship borrows money on the security of the ship to enable him to preserve the ship or prosecute her voyage.

The same duty as a Bond (Article 13) for the same amount.

15.

CANCELLATION--Instrument of, if attested and not otherwise provided for.

[One hundred rupees.]

Exemption

Instrument revoking a Will.

16.

CERTIFICATE OF SALE (in respect of each property put up as a separate lot and sold) granted to the purchaser of any property sold by public auction by a Civil or Revenue Court, or Collector or other Revenue Officer or any other officer empowered by law to sell property by public auction.

The same duty as is leviable on a Conveyance under clause (a), (b) [ (c), or (d)] as the case may be, of Article 25 on the market value of the property.

17.

CERTIFICATE OR OTHER DOCUMENT, evidencing the right or title of the holder thereof, or any other person either to any shares, scrip or stock in or of, any incorporated company or other body corporate, or to become proprietor of share, scrip or stock in or of, any such company or body. See also Letter of Allotment of Shares (Article 37);

Explanation:- For the purposes of this Article. The value of Shares, script or stock

Includes the amount of premium, if any.]

One rupee for every one thousand rupees or a part thereof, of the value of the shares, scrip or stock.

18.

CHARTER-PARTY, that is to say ,any instrument (except) an agreement for the

Hire of tug steamer) whereby a vessel or some specified principal part thereof is or

Let for the specified purposes of the charterer, whether it includes a penalty clause or not.

[One hundred rupees]

19.

(1) CLEARANCE LIST, relating to the transactions for the purchase or sale of Government securities submitted

To the clearing house of a stock exchange.

The sum of duties payable under Article 5(b) or 41(g), as the case may be, in respect of each 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) CLEARANCE LIST, relating to the transactions for the purchase or sale of a share, scrip, stock, bond, debenture, debenture stock or other marketable security of a like nature in or of an incorporated company or other body corporate, submitted to the Finance Act, 2004 w.e.f. 01.04.2005. clearing house of stock exchange recognized under the Securities Contracts (Regulation) Act, 1956, (XLIII of 1956).

The sum of duties payable under Article 5(c)(I) or 41(f) as the case may be, in respect of each 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.

(3) CLEARANCE LIST, relating to the transactions for the purchase or sale of a share, scrip, stock, bond, debenture, debenture stock or other marketable security of a like nature in or of an incorporated company or body corporate, submitted to clearing house of a stock exchange, not recognised under the Securities Contract (Regulation) Act, 1956, (XLIII of 1956).

The sum of duties payable under Article 5(c)(ii) or 41(f) as the case may be, in respect of each 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.

20.

CLEARANCE LIST, relating to the transactions for the purchase or sale of cotton submitted to the clearing house of a Cotton Association.

The sum of duties payable under Article 5(d) or 41(a), as the case may be, in respect of each of the entries in such list on the units of transactions or part thereof.

21.

CLEARANCE LIST, relating to the transactions for the purchase or sale of bullion or species submitted to the clearing house of a Bullion Association.

The sum of duties payable under Article 5(e) or 41(b), as the case may be, in respect of each of the entries in such list on the units of transactions or part thereof.

22.

CLEARANCE LIST, relating to the transaction for the purchase or sale of oil seeds submitted to the clearing house of an Oil seed Association.

The sum of duties payable under Article 5(f) or 41(c), as the case may be, in respect of the entries in such list on the units of transactions or part thereof.

23.

CLEARANCE LIST, relating to the transactions for the purchase or sale of yarn of any kind, non-mineral oils or spices of any kind.

The sum of duties payable under Article 5(g) or 41(d), as the case may be, in respect of each of the entries in such list on the units of transactions or parts thereof.

24.

COMPOSITION DEED, that is to say, any instrument executed by a debtor 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 debtor's business under the supervision of inspectors or under letters of licence for the benefit of his creditors.

Two hundred rupees.

64 These words were substituted for the words "market value" by maharashtra 9 of 1988, S.38(c) (w.e.f. 17-3-1988)65 Sub-clauses (i),(ii),(iii),(iv)and(v) substituted by Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1-5-1994)66 Sub-clauses (i-a) and these words and figures were substituted by Maharashtra Act 16 of 1995, S.3(1)(a) (w.e.f. 1-9-1995)67 Substituted by Maharashtra Act. No.13 of 2004 S.668 Entries (B) and (c) were Substituted by Maharashtra 30 of 1997, S.8(1) (w.e.f. 15-5-1997)69 Entries (B) was deleted by Maharashtra 16 of 2003, S.2(a)(i) (w.e.f. 1-5-2003)70 Entries (c) was substituted by Maharashtra 16 of 2003, S.2(a)(i) (w.e.f. 1-5-2003)71 Substituted by Maharashtra Act. No.13 of 2004 S.672 Clsiv-a was added by Maharashtra 17 of 1993, S.38(12)(c) (w.e.f. 1-5-1993)73 Substituted by Maharashtra Act. No.13 of 2004 S.674 Substituted by Maharashtra Act. No.13 of 2004 S.675 Substituted by Maharashtra Act. No.13 of 2004 S.676 Substituted by Maharashtra Act. No.13 of 2004 S.677 These words were substituted for the words "fifty rupees" by the said Act of 2004 S.6(10)(I)(iv)78 These words were substituted by maharashtra 17 of 1993, S.38(12)(c) (w.e.f. 1-5-1993)79 These words were substituted for the words "fifty rupees" by the said Act of 2004 S.6(10)(I)(iv)80 These words were substituted by maharashtra 17 of 1993, S.38(12)(c) (w.e.f. 1-5-1993)81 Added by Maharashtra 17 of 1993(w.e.f.1-5-1993)82 Clause (d) was subsituted by Maharashtra 9 of 1990, and shall be deemed to have been substituted from 17-3-198883 for the portion begining with the words " and the value of whitch" and ending with the words "above rupees 10,00,000" subsituted by Maharashtra 16 of 1995, S. 3(b) (w.e.f. 1-9-1995)84 Subsituted for "1,00,000" by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f. 01-05-2006) (w.e.f. 01-05-2006)85 Subsituted for "Nil" by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f. 01-05-2006) (w.e.f 01-05-2006)86 Sub-entry(ii)deleted by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f. 01-05-2006) (w.e.f. 01-05-2006)87 Subsituted for "1,250" by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f. 01-05-2006) (w.e.f. 01-05-2006)88 Substituted by Maharashtra Act. No.13 of 2004 S.689 Subsituted for "8,750" by The Bombay Stamp (Amendment) Act, 2006(Act No. 12 of 2006) (w.e.f. 01-05-2006) (w.e.f. 01-05-2006)90 Subsituted by Maharashtra 17 of 1993 (w.e.f. 1-5-1993)91 Clause (da) was Subsituted by Maharashtra 1 of 2002 S.3 (w.e.f. 1-1-2000)92 Substituted by Maharashtra Act. No.13 of 2004 S.693 Substituted by Maharashtra Act. No.13 of 2004 S.694Cls.(e) was deleted and deemed to have been deleted by Maharashtra Act 30 of 1997, S.8(c) (w.e.f. 15-9-1996)95 "Explation I alongwith both the provisions were deleted by Maharashtra 29 of 1994. But it was not brought into force, subsequently by the effect of Maharashtra 29 of 1994 (w.e.f. 17-8-1994), this Explanation alongwith both the provisos has remined in force as earlier96 This Explanation was renumbered as "Explanation I" and "Explanation II" was added by Maharashtra 27 of 1988 (w.e.f. 29-8-1988)97 Added by Maharashtra 17 of 1993 (w.e.f. 1-5-1993)98 Words without executing the conveyance in respect thereof, deleted by Maharashtra 38 of 1994 (w.e.f. 17-8-1994)99 Explanation II substituted by Maharshtra 9 of 1990, and should have been substituted from 17-3-1988100 Added by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)101 Explanation III subsituted by Maharashtra Tax Laws (Levy and Amendment and Valuation) Act 30 of 1997, S.8(1)(e) (w.e.f. 15.5.1997)102 Renumbered by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)103 Added by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)104 Subsituted by Maharashtra 17 of 1993 S.38(2)(c) (w.e.f. 1-5-1993)105 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)106 Subsituted by Maharashtra 17 of 1993 S.38(14) (w.e.f. 1-5-1993)107 Subsituted by Maharashtra 17 of 1993 S.38(14) (w.e.f. 1-5-1993)108 These words were deleted by Maharashtra 16 of 1995, S.3(2)(w.e.f. 1-9-1995)109 These words were substituted for the words "value hundred rupees" by Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994 (w.e.f. 1-5-1994)110 Explanation added by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)111 Subsituted by Maharashtra 17 of 1993 S.38(16) (w.e.f. 1-5-1993)112 These words were substituted for the words "fifty rupees" by maharashtra Act 22 of 2001, S.6(b)(f)(w.e.f. 1-5-2001)113 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)114 Substituted by Maharashtra Act. No.13 of 2004 S.6115 Explanation added by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)116 This was substituted for the word, brakets and letter "or (c)", by Maharashtra 27 of 1988, S.2(c) (w.e.f. 29-8-1988)117 This was substituted for the word, brakets and letter "or (c)", by Maharashtra 27 of 1988, S.2(c) (w.e.f. 29-8-1988)118 This was substituted for the word, brakets and letter "or (c)", by Maharashtra 27 of 1988, S.2(c) (w.e.f. 29-8-1988)119 These words were substituted by the Maharashtra 16 of 2003, S.2(b) (w.e.f. 1-5-2003)120 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)121 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)122 This was substituted for the word, brakets and letter "or (c)", by Maharashtra 27 of 1988, S.2(c) (w.e.f. 29-8-1988)123 The proviso added by Maharashtra 20 of 2002, S.8(d) (w.e.f. 1-5-2002)124 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(g) (w.e.f. 1-5-2001)125 Article 36 substituted by Maharashtra 32 of 2005 (w.e.f. 07-05-2005126 Article 36A was substituted by Maharashtra 20 of 2002 S.2(e) (w.e.f. 01-05-2002127 Substituted by Maharashtra Act. No.13 of 2004 S.6128 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)129 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)130 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)131 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)132 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)133 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)134 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)135 Subsituted for " ten lakh rupees" by The Bombay Stamp (Amendment) Act, 2006(Act No. 12 of 2006) (w.e.f 01-05-2006)136 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)137 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)138 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)139 Subsituted for " ten lakh rupees" by The Bombay Stamp (Amendment) Act, 2006(Act No. 12 of 2006) (w.e.f 01-05-2006)140 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)141 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)142 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)143 Subsituted by Maharashtra 32 of 2005(w.e.f. 7-5-2005)144 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)145 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)146 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)147 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)148 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)149 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)150 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)151 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)152 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)153 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)154 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)155 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)156 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)157 Clause (b) Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)158 Substituted by Maharashtra Act. No.13 of 2004 S.6159 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(i) (w.e.f. 1-5-2001)160 Inserted by Maharashtra Act. No.13 of 2004 S.6161 The words "Deposit of Title-Deeds, Pwan or Pledge or Hypothecation (Article 6)" were deleted by Maharashtra Act 20 of 2002, S. 8(f) (w.e.f. 1-5-2002)162 This was substituted for the word, brakets and letter "or (c)", by Maharashtra 27 of 1988, S.2(g) (w.e.f. 29-8-1988)163 This portion was subsituted by Maharashtra Act 20 of 2002, S.8(f) (w.e.f. 1-5-2002)164 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)165 Subsituted by Maharashtra 32 of 2005(w.r.e.f.7-5-2005)166 This Explanation is renumbered as "Explanation I", by Maharashtra 38 of 1994 (w.e.f. 17-08-1994)167 Explanation II inserted by Maharashtra 38 of 1994 (w.e.f. 17-08-1994)168 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(j) (w.e.f. 1-5-2001)169 Explanation added by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006)170 Subsituted by Maharashtra 17 of 1993, S.38(21) (w.e.f. 1-5-1993)171 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)172 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)173 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)174 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)175 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)176 Subsituted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)177 Explanation added by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)178 Subsituted by Maharashtra Act. No.13 of 2004 S.6179 Subsituted by Maharashtra 17 of 1993, Section 38 (w.e.f. 1-5-1993)180 Subsituted by Maharashtra 17 of 1993, Section 38 (w.e.f. 1-5-1993)181 Subsituted by Maharashtra 17 of 1993, Section 38 (w.e.f. 1-5-1993)182 Subsituted by Maharashtra 17 of 1993, Section 38 (w.e.f. 1-5-1993)

SCHEDULE I

(PART II)

DESCRIPTION OF INSTRUMENT

PROPER STAMP DUTY

1

2

25.

CONVEYANCE (not being a transfer charged or exempted under Article 59)-

On the [true market value of the property which is the subject matter of the Conveyance,--

(a) if relating to movable property, for every rupees 500 or part thereof;

Fifteen rupees

(b) if relating to immovable property situated within the limits of:--

Twenty-five rupees

(i) any rural area, falling within the limits of the Bombay Metropolitan Region as defined in clause (b) of section 2 of the Bombay Metropolitan Region Development Authority Act, 1974, for every rupees 500 or part thereof;

(i-a) any rural area, excluding the rural area referred to in sub-clause (i),

(A) if such property is residential, for every rupees 500 or part thereof.

Five rupees.

(B) ***

(C ) if such property is non-residential for every rupees 500 or part thereof;

Fifteen rupees.

(ii) "C' Class Municipal Councils (other than those of such Municipal Councils falling within the limits of the Bombay Metropolitan Region), Hill Station Municipal Councils other than those referred to in entry (ii) of sub-clause (iv-a), and Cantonments, if any, adjacent to such Municipal Councils, for every rupees 500 or part thereof.

Twenty rupees.

(iii) "B" Class Municipal Councils (excluding Lonavala Municipal Council and the areas of those of such Municipal Councils falling within the limits of the Bombay Metropolitan Region) and Cantonment of Kamptee, for every rupees 500 or part thereof.

Twenty-five rupees.

(iv) "A" Class Municipal Councils excluding the areas of those of such Municipal Councils falling within the limits of the Bombay Metropolitan Region but including Cantonment of Ahmednagar, for every rupees 500 or part thereof.

Twenty five rupees

(iv-a) (i) Lonavala Municipal Council;

Twenty Five rupees

(ii) Mahabaleshwar Hill Station Municipal Council, Panchgani Hill Station Municipal Council Panhala Hill Station Municipal Council and Matheran Hill Station Municipal Council, for every rupees 500 or part thereof;

Twenty Five rupees

(v) Municipal Corporations [excluding those Municipal Corporations and other areas referred to in sub-clause (vi)], the 'A', 'B' and 'C' Class Municipal Councils falling within the limits of the Bombay Metropolitan Region and Cantonments of Devlali, Dehu Road and Aurangabad, for every rupees 500 or part thereof.

Twenty Five rupees

(vi) (a) Municipal Corporation of Greater Bombay, and

(b) Municipal Corporation of Cities of--

Twenty Five rupees

(i) Pune, including the Cantonments of Pune and Kirkee.

Twenty Five rupees

(ii) Thane, including [Local areas within the limits of Revenue villages of Uttan, Dongaris, Rai Murdhi, Bhainder, Mire, Kashi, Ghodbunder, Versava, Chene, Ovale, Wadavali, Kavesar, Kolshet, Balkum, Borivade, Majiwade Chitalsar, Manpada, Chendani, Panch- Pakhadi and Yeour];

Twenty Five rupees

(iii) Navi Mumbai,--

For every rupees 500 or part thereof];

(c) if relating to both movable and immovable property

The same duty as is payable under clauses (a) and (b).

(d) (1) if relating to residential premises consisting of building or unit --

(A) by, or in favour of, a co-operative housing society registered or deemed to have been registered under the Maharashtra Co-operative Societies Act, 1960 (Mah. XXIV of 1961); or

(B) to which the provisions of the Maharashtra Ownership Flats (Regulation of Promotion of Construction, Sale, Management and Transfer) Act, 1963, (Mah. XLV of 1963) or the provisions of the Maharashtra Apartment Ownership Act, 1970, (Mah. XV of 1971) apply; or

(C) by such society in favour of its member or incoming member (whether in consequence of purchase of its shares or not); or

(D) by a member of such society in favour of another member and incoming member (whether in consequence of transfer of its shares to another member or not);

And the value of which--

(i) does not exceed rupees 2,50,000

One hundred rupees

***

(iii) exceeds rupees 2,50,000 but does not exceed rupees 5,00,000.

[100] rupee plus 3 per cent of the value above rupees 2,50,000.

(iv) [exceeds rupees 5,00,000]

[7,600] rupees plus 5 per cent of the value above rupees 5,00,000.]

(2) If relating to land for construction payable of residential premises and falling under the description in items (A), (C) or (D) or sub-clause (1).

The same duty as is payable under sub-clause (1),;

(da) if relating to the order of High Court in respect of the amalgamation or reconstruction of companies under section 394 of the Companies Act, 1956 or under the order of the RBI under section 44A of the Banking Regulation Act, 1949

10 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:

Provided that, the amount of duty, chargeable under this clause shall not exceed,--

(i) an amount equal 5 per cent] of the true market value of the immovable property located within the State of Maharashtra 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 further that, in case of reconstruction of demerger the duty chargeable shall not exceed,----

(i) an amount equal to 5 per cent of the true market value of the immovable property located within the State of Maharashtra transferred by the Demerging Company to the Resulting Company; or

(ii) an amount equal to 0.7 per centum 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.]

(e) ***

Exemption

Assignment of copyright under the Copyright Act, 1957 (IXV of 1957).

Explanation I.--For the purposes of this article, where in the case of agreement to sell an immovable property, the possession of any immovable property is transferred [or agreed to be transferred to the purchaser before the execution, or at the time of execution, or after the execution of, such agreement [* * *] then such agreement to sell shall be deemed to be a Conveyance and stamp duty thereon shall be leviable accordingly:

Provided that, the provisions of section 32A shall apply mutatis mutandis to such agreement which is deemed to be a conveyance as aforesaid, as they apply to a conveyance under that section:

Provided further that, where subsequently a conveyance is executed in pursuance of such agreement of sale, the stamp duty, if any, already paid and recovered on the agreement of sale which is deemed to be a conveyance, shall be adjusted towards the total duty leviable on the conveyance.

Explanation II.--For the purpose of clause (d),--

(i) "unit" includes a flat, apartment, tenement, block or any other unit by whatever name called as approved by the Competent Authority in the building plan

(ii) where a building consists of units used for both residential and non-residential purposes, then the concession in duty shall be available in respect of the value of those units in a building which are used for non residential purposes, shall be at the rates specified in clausese (b) and (c) on the value of such units;

(iii) the duty payable shall not exceed the amount of duty payable on such conveyance under clauses (b) and (c).

Explanation III.(i) For the purposes of clause (da) the market value of shares,--

(a) in relation to the transferee company, whose shares are listed and quoted for trading on a stock exchange, means the market value of shares as on the appointed day mentioned in the Scheme of Amalgamation or when appointed day is not so fixed, the date of order of the High Court; and

(b) in relation to the transferee company, whose shares are not listed/or listed but not quoted for trading on a stock exchange, means the market value of the shares issued or allotted with Reference to the market value of the shares of the transferor company or as determined by the Collector after giving the Transferee company an opportunity of being heard.]

26.

COPY OR EXTRACT, certified to be atrue copy or extract by or by order of any public officer under section 76 of the Indian Evidence Act, 1872, (I of 1872) and not chargeable under the law for the time being in force relating to court-fees.

Ten rupees

Exemption

(a) Copy of any paper which a public officer is expressly required by law to make or furnish for record in any public office or for a public purpose.

(b) Copy of, or extract from, any register relating to births, baptisms, namings, dedications, marriages, divorces, deaths or burials.

(c) Copy of any instrument the original of which is not chargeable to duty.

STAMPS TO BE USED -- Adhesive Stamp Paper as per Rule 13.

27.

COUNTERPART OR DUPLICATE of any instrument chargeable with duty and in respect of which the proper duty has been paid.

The same duty as is payable on the original, subject to a maximum of rupees one hundred

28.

CUSTOMS BOND OR EXCISE BOND, that is to say, any bond given pursuant to the provisions of any law for the time being in force or to the directions of any officer of Customs or Excise for, or in respect of, any of the duties of Customs or Excise or for preventing frauds or evasions thereof or for any other matter or thing relating thereto--

(a) where the amount does not exceed rupees 2,500.

The same duty as a Bond (Article 13) for such amount, subject to a maximum of [rupees one hundred.

(b) in any other case

One hundred rupees.

DECLARATION OF ANY TRUST, See Trust (Article 61).

29.

DELIVERY ORDER IN RESPECT OF GOODS, that is to say, any instrument entitling any person therein named, or his assigns 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, * * * when such goods Exceed in value hundred rupees for every rupees 10,000 or part thereof.

Ten rupees

DEPOSIT OF TITLE-DEEDS, See Agreement relating to Deposit of Title Deeds, Pawn, Pledge or Hypothecation (Article 6).

DISSOLUTION OF PARTNERSHIP, See Partnership (Article 47)

30.

DIVORCE-- Instrument of, that is to say, any instrument by which any Person effects the dissolution.

One hundred rupees.

DOWER--Instrument of, See Settlement (Article 55).

DUPLICATE, See Counterpart (Article 27).

31.

ENTRY OF MEMORANDUM OF MARRIAGE in the register under the Maharashtra Regulation of Marriage Bureau and Registration of Marriages Act, 1998.

one hundred rupees.

32.

EXCHANGE OF PROPERTY-- instrument of

Explanation For the purposes of this article , not withstanding anything contained hereinabove, the highest duty on

Either of the paoperty exchanged shall be

Chargeable.

The same duty as is leviable on a Conveyance under clause (a), (b),(c) or (d)] as the case may be, of Article 25, on the market value of the property of the greatest value.

Explanation- For the purposes of this Article, notwithstanding anything contained hereinabove, the highest duty on either of the property exchanged shall be chargeable.

33.

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 clause (a) of Article 40 (that is, with possession).

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, for the amount of the further charge secured by such instrument.

(b) when such mortgage is one of the description referred to clause (b) of Article 40 (that is, without possession).

(i) if at the time of execution of the instrument of further charge possession of the property is given under such instrument.

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, for the total amount of the charge (including 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 so given.

Five rupess for every

one thousand or part therof for the amount of further charge secured by such instrument subject to minimum of the one hundred rupees and the maximum of ten lakh rupees.

34.

GIFT, Instrument of --not being a Settlement (Article 55) or Will or Transfer (Article 59).

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, on the market value of the property which is the subject matter of the gift.

Provided that, if the property is gifted to a family member being the husband, wife, brother or sister of the donor or any lineal ascendant or descendant of the donor, then the amount of duty chargeable shall be at the same rate as specified in this article or at the rate of rupees ten for every rupees five hundred or part thereof on the market value of the property which is the subject matter property which is the subject matter of the gift, whichever is less.

HIRING AGREEMENT BR agreement for service, see Agreement (Article 5).

35.

INDEMNITY BOND

Two hundred rupees

INSPECTORSHIP DEED,

see Composition Deed (Article 24)

36.

LEASE, including an under-lease or sub-lease and any agreement to let or sublet or any renewal of lease--

Where such lease purports to be -

(i) for a period not exceeding five years.

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25,on 10 per centum of the market value of the property.

(ii) for a period exceeding five years but not exceeding ten years , with a renewal clause contingent or otherwise.

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25 on 25 per centum of the market value of such property.

(iii) for a period exceeding ten years but not exceeding twenty-nine years, with a renewal clause contingent or otherwise

The same duty as is leviable on Conveyance under clause (a), (b), (c) or (d), as the case may be of Article 25, on 50 per centum of the market value of such property.

(iv) for a period exceeding twenty-nine years or in perpetuity, or does not purport for any definite period, or for lease for period exceeding twenty-nine years, with a renewal clause contingent or otherwise.

The same duty as is leviable on a conveyance under clause (a), (b), (c) or (d), as the case may be , or article 25, on 90 per centum of the market value of the property.

Explanation I- Any consideration in the form of premium or money advanced or to be advanced or security deposit by whatever name called shall, for the purpose of market value be treated as consideration passed on

Explanation II- The renewal period, if specifically mentioned, shall be treated as part of the present lease. ]

Explanation III For the purpose of this article, the market value, for the instruments falling under section 2(n)(ii)(Toll Agreements) and article 5(g-e) (Hire Purchase Agreement), shall be the total contract value and they shall be chareable to duty same as under clause(a) of article 25.)

36A.

Leave and Licence Agreement

(a) Where the leave and licence agreement purports to be for a term not exceeding sixty months with or without the renewal clause and relates to property situated within the limits of,

(i) the District of Mumbai city and the Mumbai suburban

district; (1) if relating to residential premises,-

(A) where the amount of average annual rent plus the amount of security deposit, or money advanced or to be advanced does not exceed rupees two lakh fifty thousand for a single term of twelve months;

Seven hundred fifty rupees for every term of twelve months] or part thereof;

(B) where the amount of average annual rent plus the amount of security deposit or money advanced or to be advanced exceeds rupees two lakh fifty thousand but does not exceed rupees five lakh for a single term of twelve months;

One thousand five hundred rupees for every term of twelve months or part thereof;

(C) where the amount of average annual rent plus the amount of security deposit or money advanced or to be advanced exceeds Rs. five lakh but does not exceed rupees ten lakh for a single term of twelve months;

Three thousand rupees for every term of twelve months] or part thereof;

(D) Where the amount of average annual rent plus the amount of security deposit or money advanced or to be advanced exceeds rupees ten lakh for a single term of twelve months

Five thousand rupees for every term of twelve months or part thereof.

(2) if relating to non-residential premises -

Twice the amount of duty chargeable for residential premises under entry(A), (B), (C) or (D) above, as the case may be.]

(ii) The Municipal Corporation of the cities Thane,

Pune, Nagpur and Navi Mumbai, Nashik,

Pimpri-Chinchwad, Kolhapur, Aurangabad,

Amrawati, Solhapur, Sangli and Cantonments of

Pune Kirkee, Dehu Road, Devlali and Aurangabad,--

(1) if relating to residential premises-

(A) Where the amount of average annual rent plus the amount of security deposit or money advanced or to be advanced does not exceed Rs Two Lakh fifty Thousand for a single term of twelve months;

Five hundred rupees for every term of twelve months or, part thereof;

(B) Where the amount of average annual rent plus the amount of security deposit or money advanced or to be advanced does not exceed Rs Two Lakh fifty Thousand but does not exceed rupees five lakh for a

single term of twelve months;

One thousand rupees for every term of twelve months or part thereof ;

(C) Where the amount of average annual rent plus the amount of security deposit or money advanced or to be advanced does not exceed Rs Five Lakh for a single term of twelve months;

Two thousand rupees for every term of twelve months or part thereof ;

(2) if relating to non-residential premises -

Twice the amount of duty chargeable for residential premises under entry (A), (B), (C) above, as the case may be.]

(iii) In any other area excluding the area referred to in sub-clauses (i) and (ii)

(1) if relating to residential premises-]

(A) Where the amount of average annual rent plus the

amount of security deposit or money advanced or to

be advanced does not exceed Rs Two Lakh fifty

Thousand for a single term of twelve months;

Three hundred rupees for every term of twelve months or part thereof ;

(B) Where the amount of average annual rent plus the

amount of security deposit or money advanced or to

be advanced does not exceed Rs Two Lakh fifty

Thousand but does not exceed rupees five lakh for a

single term of twelve months;

Six hundred rupees for every term of twelve months or part thereof ;

(C) Where the amount of average annual rent plus the

amount of security deposit or money advanced or to

be advanced does not exceed Rs Five Lakh for a

single term of twelve months;

One thousand two hundred rupees for every term of twelve months or part thereof ;

(2) if relating to non-residential premises -

Twice the amount of duty chargeable for residential premises under entry (A), (B), (C) above, as the case may be.]

(b) where such leave and licence agreement purports to be for a period exceeding sixty months with or without renewal clause;

Same duty as is leviable on lease, under clause (ii),(iii) or (iv) above as the case may be, of Article 36.]

37.

LETTER OF ALLOTMENT OF SHARES in any company or proposed company, or in respect of any loan to be raised by any company.

See also Certificate or other Document (Article 17).

One rupee.

LETTER OF GUARANTEE, see Agreement (Article 5).

STAMPS TO BE USED -- Adhesive Stamp Paper Rule 11

38.

LETTER OF LICENCE, that is to say, any agreement between a debtor and his creditor, that the latter shall, for a specified time, suspend his claims and allow the debtor to carry on business at his own discretion.

one hundred rupees

STAMPS TO BE USED -- Non - Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper under Rule 10(ii)

39.

MEMORANDUM OF ASSOCIATION OF A COMPANY--

(a) if accompained by articles of association under section 26 of the Companies Act, 1956, (I of 1956).

Two hundred rupees.

(b) if not so accompanied

The same duty as is leviable on Articles of Association under Article 10 according to the share capital of the company.

Exemption

Memorandum of any association nor formed for profit and registered under section 25 of the Companies Act, 1956, (I of 1956).

40.

MORTGAGE - DEED, not being an agreement relating to Deposit of Title Deeds, Pawn or Pleadge or Hypothecation (Article 6)] *** , Bottomry Bond (Article 14) , Mortgage of a Crop (Article 41), Respondentia Bond (Article 53), or Security Bond or Mortgage Deed (Article 54)

(a) when possession of the property or any part of the property or any part of the property comprised in such deed is given by the mortgagor or agreed to be given;

The same duty as is leviable on a conveyance under clauses (a), (b),(c) or (d), as the case may be, of Article 25, for the amount secured by such deed.

(b) when possession is not given or agreed to be given as aforesaid.

Five rupees for every

one thousand or part therof for the amount secured by such deed, subject to the minimum of one hundred rupees and the maximum of ten lakh rupees;

Explanation:-I -- 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 within the meaning of this article.

Explanation II-- Where in the case of an agreement to mortgage the amount or part thereof sought to be secured by such an agreement is advanced or disbursed to the mortgagor or without execution of a mortgagor or without execution of a mortgage deed, then such an agreement to mortgage shall, notwithstanding anything contained in clause (d) of section 2, become chargeable under this Article as mortgage-deed on the date of making of such advance or disbursement either in part or in whole.

(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.

The same duty as a Bond (Article 13) for the amount secured, subject to a maximum of rupees two hundred.

Explanation For the purpose of this clause

, the principal or primary security shall mean, the security created under clause(a)

Or (b) above.

Exemptions

(1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884), or by their sureties as security for the repayments of such advances.

(2) Letter of hypothecation accompanying a bill of exchange.

41.

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 mortgage, for every rupees 200 or part thereof.

One rupee.

42.

NOTARIAL ACT, that is to say, any instrument, endorsement, note, attestation, certificate or entry not being a Protest (Article 49) executed by a Notary Public in the performance of the duties of his office, or by any other person lawfully acting as a Notary Public.

Twenty-five rupees.

43.

NOTE OR MEMORANDUM sent by a broker or agent to his principal intimating the purchase or sale on account of such principal--

(a) of cotton

One rupee for every Rupees 10,000 or part thereof , on the value of cotton.

(b) of bullion of specie

One rupee for every rupees 10,000 or part thereof, on the value of silver or gold or sovereigns, as the case may be.

(c) of oil seeds

One rupee for every rupees 10,000 or part thereof, on the value of oil seeds.

(d) of yarn of any kind, non-mineral oils or spices of any kind.

One rupee for every rupees 10,000 or part thereof of the value of yarn of any kind, non-mineral oils or spices of any kind as the case may be

(e) of any other goods exceeding in value twenty rupees.

One rupee for every rupees 10,000 or part thereof on the value of goods.

(f) of any share, scrip, stock, bond, debenture, debenture stock or other marketable security of a like nature exceeding in value twenty rupees, not being a Government security.

One rupee for every rupees 10,000 or part thereof of the value of the security, at the time of its purchase or sale, as the caes may be.

(g) of a Government security.

Fifty paise for every rupees 1,00,000 or part thereof on the value of security.

Explanation For the purposes of clauses (b),(c), (d), (e), (f) and (g), if any duty is paid under Article 51A, then the same shall be reduced from the duty payable under this article."

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 an incorporated company or other body corporate, an entry relating to which is required to be made in clearance lists described in clauses (1), (2) and (3) of Article 19.

(2) Note or Memorandum sent by a broker or agent to his principal intimating the purchase or sale of cotton on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 20.

(3) Note of Memorandum sent by a broker or agent to his principal intimating the purchase or sale of bullion or species on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 21.

(4) Note or Memorandum sent by a broker or agent to his principal intimating the purchase or sale of oil seeds on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 22.

(5) Note or Memorandum sent by a broker or agent to his principal intimating the purchase or sale of yarn of any kind, non-mineral oils or spices of any kind on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 23.

(6) Note or Memorandum sent by a broker or agent to his principal in any of the above cases, when the amount stated in the instrument is less than rupees one hundred.

44.

NOTE OF PROTEST BY THE MASTER OF A SHIP.

See also Protest by the Master of Ship (Article 50).

One hundred rupees.

45.

ORDER FOR THE PAYMENT OF MONEY, not being a Bill of Exchange within the meaning of the Indian Stamp 1899, (II of 1899)--

(a) where payable otherwise than on demand but not more than one year after date or sight--for every Rs. 1,000 or part thereof.

Ten rupees.

(b) where payable at more than one year after date or sight, if the amount,--

(i) does not exceed rupees 500

Ten rupees

(ii) exceeds rupees 500 but does not exceed rupees 1,000

Twenty rupees.

(iii) exceeds rupees 1,000 for every additional rupees 1,000 or part thereof.

Twenty rupees.

183 These words were substituted for the words "the same duty as the Bond (Article 13) for the", by Maharashtra 9 of 1997, S.14(6)(i) (w.e.f. 15-9-1996)184 Clause(b) was Subsituted by Maharashtra 9 of 1997, S.14(6)(ii) (w.e.f. 15-9-1996)185 This words were Subsituted by Maharashtra 30 of 1997, S.8(2) (w.e.f. 15-5-1997)186 As amended by Bombay Court Fees (Amendment) Act 34 of 1994 (w.e.f. 13-5-1995)187 Clauses (1) substituted Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1.5.1994)188 These words inserted by Maharashtra 30 of 1997, S.8(3) (w.e.f. 15-5-1997)189 These words inserted by Maharashtra 30 of 1997, S.8(3) (w.e.f. 15-5-1997)190 Clause(c) was inserted by Maharashtra 30 of 1997, S.8(3) (w.e.f. 15-5-1997)191 Old clause renumbered as clause(2) by Maharashtra 17 of 1993, S.38(24)(w.e.f. 1-5-1993)192 These words were substitute by Maharashtra 30 of 1997, S.8(3)(w.e.f. 15-5-1997)193 This was substituted for the word, brakets and letter "or(c)", by Maharashtra 27 of 1988 (w.e.f. 29-8-1988)194 Substituted by Maharashtra 17 of 1993, S.38(24) (w.e.f. 1-5-1993)195 Substituted by Maharashtra 9 of 1997, S.14(7) (w.e.f. 15-9-1996)196 Substituted by Maharashtra 9 of 1997, S.14(7) (w.e.f. 15-9-1996)197 Substituted by Maharashtra 9 of 1997, S.14(7) (w.e.f. 15-9-1996)198 Substituted by Maharashtra 9 of 1997, S.14(7) (w.e.f. 15-9-1996)199 Substituted by Maharashtra 9 of 1997, S.14(7) (w.e.f. 15-9-1996)200 This was substituted for the word, brakets and letter "or(c)", by Maharashtra 27 of 1988 S.2(h) (w.e.f. 29-8-1988)201 Clauses (g)and(h)were substituted by Maharashtra 9 of 1990, (w.e.f. 7-2-1990)202 This portion was substituted by Maharashtra 9 of 1997, S.14(7) (w.e.f. 7-2-1990)203 Substituted by Maharashtra Act. No.13 of 2004 S.6204 Substituted by Maharashtra Act. No.13 of 2004 S.6205 Substituted by Maharashtra Act. No.13 of 2004 S.6206 These words were substituted for 'one hundred rupees' by Maharashtra Act 22 of 2001 S.6(1)207 Inserted by Maharashtra 32 of 2005 (w.e.f. 7-5-2005)208 Article 52 substituted by The Bombay Stamp (Amendment)Act, 2006 (Act No. 12 of 2006) (w.e.f. 01-05-2006209 Sub-clauses (ii) substituted Maharashtra Tax Laws (Levy and Amendment) Act 29 of 1994, (w.e.f. 1.5.1994)210 This portion was substituted by Maharashtra Act 20 of 2002, S.8(g) (w.e.f. 1-5-2002)211 Words "6 or" deleted by The Bombay Stamp (Amendment) Act, 2006 (Act No. 12 of 2006) (w.e.f 01-05-2006212 These words were substituted by Maharashtra 9 of 1997, Section 14(10)(w)213 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(m)(i) (w.e.f. 1-5-2001)214 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(m)(ii) (w.e.f. 1-5-2001)215 This was substituted for the word, brakets and letter "or(c)", by Maharashtra 27 of 1988 S.2(j) (w.e.f. 29-8-1988)216 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(m)(ii) (w.e.f. 1-5-2001)217 Article 58 was substituted by Maharashtra Act 20 of 2002. (w.e.f. 01-05-2002)218 Words "subject to a maximum of ten thousand rupees" deleted by Maharashtra Act 32 of 2005 (w.e.f 07-05-2005)219 Substituted for the word "minimum" by Mahrashtra 9 of 1990, (w.e.f. 7-2-1990)220 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(n) (w.e.f. 1-5-2001)221 This was substituted for the word, brakets and letter "or(c)", by Maharashtra 27 of 1988 S.2(k) (w.e.f. 29-8-1988)222 These words were substituted for the words 'the same duty as the Bond (Article 13)' by Maharashtra 9 of 1997, S.14(11) (w.e.f. 15-9-1996)223 This was substituted for the word, brakets and letter "or(c)", by Maharashtra 27 of 1988 S.2(1) (w.e.f. 29-8-1988)224 These words were substituted for "one hundred rupees" by maharashtra Act 22 of 2001, S.6(o) (w.e.f. 1-5-2001)225 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(m)(ii) (w.e.f. 1-5-2001)226 These words were substituted for the words "one hundred rupees" by maharashtra Act 22 of 2001, S.6(m)(ii) (w.e.f. 1-5-2001)227 Article 63 added by The Bombay Stamp (Amendment)Act, 2006 (Act No. 12 of 2006) (w.e.f. 01-05-2006)

SCHEDULE I

(PART III)

46.

PARTITION-Instrument of

Rupees Ten for every rupees five hundred or part thereof of the, amount or the market value of the separated share or shares of the property.

Note.-The largest share remaining after the property is partitioned (or, if there are two or more shares of equal value and not smaller than any of the other shares, then one such equal shares) shall be deemed to be that from which the other shares are separated.

Provided always that,-

(a) when an instrument of partition containing an agreement to divide property in severalty is executed and a partition is effected in pursuance of such agreement, the duty chargeable upon the instrument effecting such partition shall be reduced by the amount of duty paid in respect of the first instrument, but shall not be less than five rupees;

(b) where the instrument relates to the partition of agricultural land, the rate of duty applicable shall be one hundred rupees.

(c) where a final order for effecting a partition passed by any Revenue Authority or any Civil Court or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and an instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not exceed ten rupees.

Bombay Court Fees Act

Section 51 of Bombay Court fees Act, 1959 (as amended by Mah. Act No. 34 of 1994)

Reduction of court fee from amount of stamp duty payable on final order of partition.

Notwithstanding anything contained in the Bombay Stamp Act, 1958, where court fee is paid in suit for partition in accordance with the provisions of clause (vii) of section 6 of this Act, the stamp duty shall be payable on a final order for effecting a partition passed by any Revenue Authority or any civil court under article 46 in Schedule I to the Bombay Stamp Act, 1958, shall be reduced by the amount of the court fee paid in such suit.

Note.-Section 51 of the Bombay Court Fees Act, 1959 before amendment provided that no stamp duty is payable where court fee is paid in a suit for partition. By Bombay Court Fees (Amendment) Act, 1994 (34 of 1994) it is now provided that on a final order for effecting a partition in any civil suit, stamp duty should be payable but it should be reduced by the amount paid as court fee in such suit for Partition.

47.

PARTNERSHIP

(1) Instrument of partnership-

(a) where there is no share of contribution in partnership, or where such share contribution brought in by way of cash does not exceed rupees 50,000;

Five hundred rupees.

(b) where such share contribution brought in by way of cash is in excessof rupees, 50,000, for every rupees 50,000, for every rupees 50,000 or part thereof.

Five hundred rupees, subject to maximum duty of rupees five thousand;

(c) where such share contribution is brought in by way of property, excluding cash.

The same duty as is leviable on Conveyance under clause (a), (b), (c) or (d) as the case may be, of article 25, on the market value of such property.

(2) Dissolution of partnership or retirement of partner-

(1) where on a dissolution of the partnership or on retirement of a partner any property is taken as his share by a partner other than a partner who brought in that property as his share of contribution in the partnership.

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, on the market value of such property, subject to a minimum of rupees one hundred

(2) in any other case.

Two hundred rupees.

48.

POWER OF ATTORNEY not being a Proxy:-

(a) when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents;

One hundred rupees.

(b) when required in suits or proceedings under the Presidency Small Cause Courts Act, 1882, (XV of 1882)

One hundred rupees.

(c) when authorising one person or more to act in a single transactin other than the case mentioned in clause (a);

One hundred rupees.

(d) when authorising one person to act in more than one transaction or generally;

One hundred rupees.

(e) when authorising more than one person to act in single transaction or morethan one transaction jointly or severally or generally;

One hundred rupees.

(f) when given for consideration and authorising to sell an immovable Property;

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, on the market value of the property.

(g) when given to a promoter or developer by whatever name called, for construction on, development of, or sale or transfer (in any manner whatsoever) of, any immovable property.

Five rupees for every five hundred rupees or part thereof of the market value of the subject matter of property:

Provided that, the provisions of section 32A shall, mutatis mutandis, apply to such an instrument of power of attorney as they apply to a conveyance under that section.

Provided further that, when proper stamp duty is paid under clause (g-a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be rupees one hundred.

(h) in any other case

one hundred rupees for each person authorized

Explanation:- I. For the purpose of this article more persons than one when belonging to the same firm shall be deemed to be one person.

Explanation II. -The term 'registration' includes every operation incidental to registration under the Registration Act, 1908 (XVI of 1908).

Explanation III. -Where under clause (f), duty has been paid on the power of attorney, and a conveyance relating to that property is executed in pursuance of power of attorney between the executant of the power of attorney and the person in whose favour it is executed, the duty on conveyance shall be the duty calculated on the market value of the property reduced by duty paid on the power of attorney.

49.

PROTEST OF BILL OR NOTE, that is to say, any declaration in writing made by a Notary Public, or other person lawfully acting as such, attesting the dishonour of a bill of exchange or promissory note.

one hundred rupees.

50.

PROTEST BY THE MASTER OF A SHIP, that is to say, any declaration of the particulars of her voyage drawn up by him with a view to the adjustment of losses or the calculation of averages, and every declaration in writing made by him against the charterers or the consignees for not loading or unloading the ship, when such declaration is attested or certified by a Notary Public or other person lawfully acting as such.

See also Note of Protest by the Master of a Ship (Article 44).

one hundred rupees

51.

RECONVEYANCE OF MORTGAGED PROPERTY-

(a) if the consideration for which the property was mortgaged does not exceed rupees, 2,500.

The same duty as a Bond (Article 13) for such consideration.

(b) in any other case

Two hundred rupees.

51A.

Record of Transaction (Electronics or otherwise) effected by a trading member through a stock exchange or the association referred to in section 10B-

(a) if relating to purchase or sale of Government securities

Fifty rupees for every rupees one crore or part thereof of the value of security

(b) if relating to purchase or sale of securities, other than those falling under item (a) above-

(i) in case of delivery

One rupee for every rupees 10,000 or part thereof.

(ii) in case of non-delivery

Twenty paise for every rupees 10,000 or part thereof.

(c) if relating to futures and options trading

Twenty paise for every rupees 10,000 or part thereof.

(d) if relating to forward contracts of commodities traded through an association or otherwise.

One rupee for every rupees 1,00,000 or part thereof.

Explanation - For the purpose of clause(b), securities shall have the same meaning as defined by the Securities Contract (Regulation) Act, 1956.]

52

RELEASE, that is to say, any instrument (not being an instrument as is provided by section (24) whereby a person renounces a claim upon other person or against any specified property.

(a) if the release deed of an ancestral property

or part thereof is

executed by or in favour of brother

or sister (children of renouncers parents) or son or

daughter or son of

predeceased son

or daughter of predeceased son

or father or mother or spouse of the renouncer or the legal heirs of the above relations.

Two hundred rupees

(b) in any other case

The same duty as is leviable on a conveyance under clause

(a), (b), (c) or (d), as the case may be , of Article 25,0n the

market value of the share ,interest, part or claim renounced.

53.

RESPONDENTIA BOND, that is to say, any instrument securing a loan on the Finance Act, 2004 w.e.f. 01.04.2005. cargo laden or to be laden on board a ship and making repayment contingent on the arrival of the cargo at the port of destination.

The same duty as a Bond (Article 13) for the amount of the loan secured.

REVOCATION OF ANY TRUST OF SETTLEMENT.

See Settlement (Article 55), Trust (Article 61).

54.

SECURITY BOND OR MORTGAGE DEED, where such security bond or Mortgage deed is executed by way of security for the due execution of an office, or to account for money or other property received by virtue thereof, or by a surety to secure the due performance of a contract, or in pursuance of an order of the court or a public officer, not being otherwise provided for by the Bombay Court-fees Act, 1959, (Bom LX of 1959),-

(i) where the amount secured does not exceed rupees 2,500.

The same duty as Bond (Article 13) for the amount secured.

(ii) where the amount secured exceeds rupees 2500, for every rupees five hundred of the amount secured or part thereof.

The Same duty as is leviable under clause (b) of Article 40

Provided that, where on an instrument executed by a person, stands surety and executes security bond or a mortgage deed, duty has been paid under Article 6 or 40, then the duty payble shall be one hundred rupees.

Exemptions

Bond or other instrument, when executed,-

(a) by any person for the purpose of guaranteening that the local income derived from private subscription to a charitable dispensary or hospital or any other object of public utility shall not be less than a specified sum per mensem;

(b) under the rules made by the State Government under section 114 of the Finance Act, 2004 w.e.f. 01.04.2005. Maharashtra Irrigation Act, 1976 (Mah XXXVIII of 1976);

(c) by a person taking advance under the Land Improvement Loans Act, (XIX of 1883) or the Agriculturists Loans Act, 1884 (XII of 1884) or by their sureties as security for the repayment of such advances;

(d) by officers of the Government or their sureties to secure the due execution of an office or the due accounting for money or other property received by virtue thereof.

55.

SETTLEMENT.-

A. Instrument of - including a deed of dower,-

(i) where the settlement is made for a religious or charitable purpose.

Ten rupees for every five hundred rupees or part thereof of a sum equal to the amount settled or the market value of the property settled.

(ii) in any other case

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, for a sum equal to the amount settled or the market value of the property settled:

Provided that, where an agreement to settle is stamped with the stamp required for an instrument of settlement and an instrument of settlement in pursuance of such agreement is subsequently executed, the duty on such instrument shall not exceed ten rupees:

Provided further that, where an instrument of settlement contains any provision for the revocation of the settlement, the amount or the value of the property settled shall, for the purposes of duty, be determined, as if, no such provisions were contained in the instrument.

Exemption

Deed dower executed on the occasion of or in connection with, marriage between Muhammadans, whether executed before or after the marriage.

B. Revocation of,-

(i) in respect of settlement described in sub-clause (i) of clause A.

The same duty as a Bond (Article 13) for a sum equal to the amount settled or the market value of the property concerned as set forth in the instrument of revocation, but not exceeding two hundred rupees.

(ii) in respect of settlement described in sub-clause (ii) of clause A.

The same duty as is leviable on a Conveyance under clause (a), (b), (c), or (d), as the case may be, of Article 25, for a consideration equal to the amount settled as setforth in the instrument of revocation or the market value of the property concerned, but not exceeding two hundred rupees.]

56.

SHARE WARRANTS to bearer issued under the Companies Act, 1956 (I of 1956), for every rupees five hundred or part thereof.

Five rupees.

Exemption

Share warrant when issued by a company in pursuance of the provisions of section 114 of the Companies Act, 1956 (I of 1956), to have effect only upon payment as composition for that duty, to the Collector-

(a) one and a half per centum of the whole subscribed capital of the company, or

(b) if any company which has paid the said duty or composition in full subsequently issues in addition to its subscribed capital, one and a half per centum of the additional capital so issued.

SCRIP, See Certificate (Article 17).

57.

SHIPPING ORDER for or relating to the conveyance of goods on board of any vessel.

One rupee.

58.

SURRENDER OF LEASE including an agreement for surrender of lease-

(a) without any consideration;

Two hundred rupees

(b) with consideration.

The same duty as is leviable under clause (a), (b), (c) or (d) of Article 25 on the amount of consideration.].

Explanation.-For the purposes of this Article, return of money paid as advance, on security deposit by lessee to the lessor shall not be treated as considration for the surrender.

59

TRANSFER (whether with or without consideration).

(a) of debentures, being marketable securities whether the debenture is liable to duty or not, except debentures provided for by section 8 of the Indian Stamp Act, 1899.

Fifty paise for every rupees 100 or part thereof of the consideration amount of the debenture xxx.

Explanation.- For the purposes of this clause, the term 'debenture' includes debenture stock;

(b) of any interest secured by bond, mortgage deed or policy of insurance;

The same duty as a Bond (Article 13) for such amount or value of the interest as set forth in the transfer, subject to a maximum of two hundred rupees.

(c) of any property under section 22 of the Administrators' General Act, 1963;

(d) of any trust property without consideration from one trustee to another trustee, or from a trustee to a beneficiary.

Exemptions

Transfers by endoresement,-

(a) of a bill of exchange, cheque or promissory note;

(b) of a bill of lading, delivery order, warrant for goods or other mercantile document or title to goods;

(c) of a policy of insurance;

(d) of securities of the Central Government.

60.

TRANSFER OF LEASE by way of assignment and not by way of under lease or by way of decree or final order passed by any Civil Court or any Revenue Officer.

The same duty as is leviable on a Conveyance under clause (a), (b), (c) or (d), as the case may be, of Article 25, on the market value of the property, which is the subject matter of transfer.

61.

TRUST

A. Declration of - of, or concerning, any property when made by any writing not being a Will,-

(a) where there is disposition of property,-

(i) where the Trust is made for a religious or charitable purpose;

Ten rupees for every rupees five hundred or part thereof of a sum equal to the amount settled or market value of the property settled.

(ii) in any other case

The same duty as a conveyance under clause (a), (b), (c) or (d), as the case mamy be, of Article 25, for a sum equal to the amount settled or the market value of the property settled.

(b) where there is no disposition of property,-

(i) where the trust is made for a religious or charitable purpose.

The same duty as a Bond (Article 13) for a sum equal to the amount settled or market value of the property settled, but not exceeding two hundred rupees.

(ii) in any other case

The same duty as a Bond (Article 13) for a sum equal to the amount settled or market value of the property settled, but not exceeding two hundred ] rupees.

B. Revocation of - of, or concerning, any property when made by any instrument other than a Will.

The same duty as a Bond (Article 13) for a sum equal to the amount settled or market value of the property settled, but not exceeding two hundred] rupees.

VALUATION, See Appraisement (Article 8)

62.

WARRANT FOR GOODS, that is to say, any instrument evidencing the title of any person therein named or his assigns, or the holder thereof, to the property in any goods lying in or upon any dock, warehouse or wharf, such instrument being signed or certified by or on behalf of the person in whose custody such goods may be.

One rupee.

63.

WORKS CONTRACT, that is to say a contract for works and labour or services involving transfer

of property in goods (whether as goods or in some other form)

in its execution and includes a sub-contract,-

(a) where the amount or value set forth in such contract does not exceed rupees ten lakh

(b) where it exceeds rupees ten

lakh

One hundred rupees plus one hundred rupees for every rupees 1,00,000 or part thereof,

Above rupees ten lakh,subject to the maximum of rupees five lakh.]

SCHEDULE 2 .

ENACTMENTS REPEALED

(See section 76)

Year

N0.

Enactments

Extent of Repeal

(1)

(2)

(3)

(4)

1899

II

The Indian Stamp Act, 1899 in its application to the pre-Reorganisation State of Bombay excluding the transferred territories and to the Vidarbha Region and Kutch area of the state of Bombay.

The whole except in so far as itrelates to documents specified inEntry 91 of List I in the SeventhSchedule to the Consitution ofIndia.

1899

II

The Indian Stamp Act, !899 as applied to the Saurashtra Area of the State of Bombay.

The whole except in so far as itRelates to documents specified inEntry 91 of List I in the Seventh Schedule to the Constitution ofIndia.

1331 Fasli

IV

The Hyderabad Stamp Act, 1331-F

The whole except in so far as itrelates to documents specified in Entry 91 of List I in the Seventh Schedule to the Constitution ofIndia.

1932

II

The Bombay Finance Act, 1932

Parts IV and V containing sections 15, 16, 17, 18 and 19.

1943

XIV

The Bombay Insurance of Stamp Duties Act, 1943.

The Whole.