Bombay Stamp (Gujarat Amendment) Act, 2006
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CONTENTS
2. Amendment of Section 4 of Bom. LX of 1958
3. Amendment of Section 6 of Bom. LX of 1958
4. Amendment of Section 29 of Bom. LX of 1958
5. Amendment of Schedule I to Bom. LX of 1958
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An Act further to amend the Bombay Stamp Act, 1958
It is hereby enacted in the Fifty-seventh Year of the Republic of India as follows:—
## Section 1. (1) This Act may be called the Bombay Stamp (Gujarat Amendment) Act, 2006.
(2) It shall come into force on the 1st April, 2006.
## Section 2. Amendment of Section 4 of Bom. LX of 1958.—In the Bombay Stamp Act, 1958 (Bom. LX of 1958) (hereinafter referred to as “the principal Act”), in Section 4, in sub-section (1), for the words “ten rupees”, the words “one hundred rupees” shall be substituted.
## Section 3. Amendment of Section 6 of Bom. LX of 1958.—In the principal Act, in Section 6, in the proviso, for the words, “ten rupees”, the words “one hundred rupees” shall be substituted.
## Section 4. Amendment of Section 29 of Bom. LX of 1958.—In the principal Act, in Section 29,—
(1) in sub-section (4), In the proviso, for the words “eight rupees”. The words “one hundred rupees” shall be substituted;
(2) in sub-section (5), for the words “eight rupees” occurring at two places, the words “one hundred rupees” shall be substituted.
## Section 5. Amendment of Schedule I to Bom. LX of 1958.—In the principal Act, in Schedule I,—
(1) Article 1 shall be deleted.
(2) in Article 2, for the words “Subject to a maximum of one hundred rupees, four rupees for every hundred rupees or part thereof of the value of the bond”, the words “One hundred rupees” shall be substituted.
(3) in Article 3, for the words “Fifty rupees.”, the words “One hundred rupees” shall be substituted.
(4) for Article 5, the following shall be substituted, namely:—
“5. AGREEMENT OR MEMORANDUM OF AN AGREEMENT OR ITS RECORDS—
(a) | If relating to the sale of a bail of exchange; | Nil |
(b) | If relating to the purchase or sale of a Government security; | One rupee for every ten thousand rupees or part thereof of the value of the security at the time of its purchase or, as the case may be, sale. |
(c) | If relating to the purchase or sale of shares, scrips, stocks, bonds, debentures, 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 member of a Stock Exchange recognized under the Securities Contracts (Regulation) Act, 1956 (XLII of 1956) | In the case of forward contracts relating to the purchase or sale of securities. One rupee for every ten thousand rupees or part thereof of the value of the security at the time of its purchase or, as the case may be, sale. |
| (ii) in other cases: | One rupee for every ten thousand rupees or part thereof of the value of the security at the time of its purchase or, as the case may be, sale. |
(d) | If relating to the purchase or sale of cotton including cotton pods of Kapas (unginned cotton); | One rupee for every ten thousand rupees or part thereof of the value of cotton at the time of its purchase or, as the case may be, sale. |
(e) | if relating to the purchase or sale of bullion or specie; | One rupee for every ten thousand rupees or part thereof of the value of silver, gold or as the case may be, sovereigns. |
(f) | If relating to purchase or sale of oil seeds; | One rupee for every ten thousand rupees or part thereof of the value of the oil seeds at the time of its purchase or, as the case may be, sale. |
(g) | If relating to the purchase or sale of any kind of yarn, non-mineral oils or spices; | One rupee for every ten thousand rupees or part thereof of the value of such yarn, groundnut oil, other non-mineral oil or, as the case may be, spices. |
(ga) | If relating to giving authority or power to a promoter or a developer, by whatever name called for construction on or development of, or sale or transfer (in any manner whatsoever) of, any immovable property; | One rupees for every hundred rupees or part thereof of the market value of the property which is the subject matter of such agreement: |
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| Provided that the provisions of Section 32-A shall mutatis mutandis, apply to such agreement, memorandum or records thereof as they apply to an instrument under the section: Provided further that if the proper stamp duty is paid under clause (g) of Article 45 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. |
(gb) | If relating to advertisement on radio, Television cinema, Cable network, or any media other than newspaper. | Subject to maximum of three lakh rupees. Fifty paise for every hundred rupees or part thereof on the amount of consideration specified in such agreement. |
(h) | if not otherwise provided for | One hundred rupees. |
Exemption | ||
Agreement or Memorandum of Agreement or its records,— | ||
(a) for or relating to the purchase or 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 Note or memorandum chargeable under Article 40; |
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(b) Made in the form of tenders to the Central Government for or relating to any loan. |
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AGREEMENT TO LEASE (See Lease No. 30)” | ||
(5) for Article 6, the following shall be substituted, namely:—
“6. AGREEMENT OR MEMORANDUM OF AGREEMENT RELATING TO DEPOSIT OF TITLE DEEDS, PAWN, PLEDGE OR HYPOTHECATION, that it to say any instrument evidencing an agreement or memorandum of agreement relating to—
(1) | the deposit of title deeds or instruments 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— |
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| (a) if such loan or debt is repayable on demand or more than three months from the date of the instrument evidencing the agreement— |
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| (i) where the amount of loan or debt does not exceed Rs. 10.00.00.000 | Subject to maximum of one lakh rupees. Twenty-five paise for every hundred rupees or part thereof. |
| (ii) Where it exceeds Rs. 10.00.00.000; | Subject to maximum of three lakh rupees. Fifty paise for every hundred rupees or part thereof. |
| (b) If such loan or debt is repayable not more than three months from the date of such instrument; | Half the duty payable under sub-clause (a). |
(2) | the pawn, pledge or hypothecation of movable property. Where such pawn, pledge or hypothecation 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— |
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| (i) Where the amount of loan or debt does not exceed Rs. 10.00.00.000 | Subject to maximum of one lakh rupees. Twenty-five paise for every hundred rupees or part thereof. |
| (ii) Where it exceeds Rs. 10.00.00.000 | Subject to maximum of three lakh rupees, fifty paise for every hundred rupees or part thereof.”, |
(6) in Article 9, in clause (b), for the words “Two hundred and fifty rupees”, the words “One hundred rupees” shall be substituted.
(7) in Article 10, for the words “Subject to a maximum of one hundred rupees, four rupees for every hundred rupees or part thereof”, the words “One hundred rupees” shall be substituted.
(8) in Article 11, for the words “Fifty rupees”, the words “One hundred rupees” shall be substituted.
(9) in Article 12, for the words “Subject to minimum of one thousand rupees and maximum of give lakhs rupees, fifteen paise for every hundred rupees or part thereof”, the words “Subject to maximum of five lakhs rupees, fifty paise for every hundred rupees or part thereof” shall be substituted.
(10) in Article 13, for the portion beginning with the words “The same duty” and ending with the words “forty rupees”, the words “One hundred rupees” shall be substituted.
(11) for Article 14, the following shall be substituted:—
“14 | BOND as defined by Section 2(c) not being a debenture and not being otherwise provided for by this Act, or by the Gujarat Court-fees Act, 2004 (Guj. 4 of 2004), if the amount or value secured by the bond— |
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| (i) does not exceed Rs. 10.00.00.000 | Subject to maximum of one lakh rupees, twenty-five paise for every hundred rupees or part thereof |
| (ii) Where is exceeds Rs. 10.00.00.000 | Subject to maximum of three lakh rupees, fifty paise for every hundred rupees or part thereof. |
| See Administration Bond (No. 2). Bottomry Bond (No. 15). Customs Bond or Excise Bond (No. 23). Indemnity Bond (No. 29), Respondentia Bond (No. 50). Security Bond (No. 51). |
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| Exemption |
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| Bond, when executed by any person for the purpose of guaranteeing that the local income derived from private subscriptions to a charitable dispensary or hospital or any other object of public utility, shall not be less than a specified sum per mensum.”, |
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(12) in Article 16, for the words “Fifty rupees”, the words “One hundred rupees” shall be substituted.
(13) in Article 18, for the words “Two Rupees”, the words “One rupee for every one thousand rupees or part thereof of the value of the share, scrip or stock” shall be substituted.
(14) in Article 20—
(a) in clause (a), for the words “Six rupees”, the words “Four rupees and twenty-five paise” shall be substituted.
(b) in clause (b), for the words “Six rupees”, the words “Four rupees and twenty-five paise” shall be substituted.
(c) in clause (d), in entries (i) and (ii), for the figures and word “0.75 per cent”, the figure and words “1 per cent” shall be substituted.
(15) in Article 21, for the words “Twenty rupees”, the words “One hundred rupees”, shall be substituted.
(16) in Article 22, for the words “The same duty as is payable on the original subject to a maximum of fifty rupees”, the words “One hundred rupees”, shall be substituted.
(17) in Article 23, for the words “Subject to a maximum of one hundred rupees, four rupees for every Rs. 100 or part thereof of the amount of bond”, the words “One hundred rupees” shall be substituted.
(18) in Article 24,—
(a) for the words “such instrument being signed by or on behalf of the owner of such goods upon the sale or transfer of the property therein when such goods exceed in value twenty rupees”, the words “when such goods exceed in value one hundred rupees” shall be substituted;
(b) for the words “Twenty rupees”, the words “One rupees for every one thousand rupees or part thereof” shall be substituted.
(19) in Article 25, for the words “Five hundred rupees”, the words “One hundred rupees” shall be substituted.
(20) in Article 27,—
(a) in clause (b),—
(i) in entry (i), for the words “Six rupees”, the words “Four rupees and twenty-five paise” shall be substituted;
(ii) in entry (ii), for the words “Subject to maximum of two lakhs rupees, two rupees for every hundred rupees or part thereof, for the amount of the further charge secured by such instrument”, the following shall be substituted, namely:—
“(a) where the amount of further charge secured by such instrument does not exceed Rs. 10.00.00.000 subject to maximum of one lakh rupees, twenty-five paise for every hundred rupees or part thereof;
(b) where the amount of further charge secured by such instrument exceeds Rs. 10.00.00.000, subject to maximum of three lakh rupees, fifty paise for every hundred rupees or part thereof.”;
(b) clause (c) shall be deleted.
(21) in Article 29, for the words “Subject to maximum of one hundred rupees, six rupees for every Rs. 100 or part thereof of the amount secured”, the words “One hundred rupees” shall be substituted.
(22) in Article 30, in clause (a) in entry (ii) for the words “Three rupees”, the words “Two rupees” shall be substituted.
(23) in Article 31, for the words “Two rupees”, the words “One rupee for every one thousand rupees or part thereof of the value of the shares” shall be substituted.
(24) in Article 32, for the words “Sixty rupees”, the words “One hundred rupees” shall be substituted.
(25) in Article 33, for the words “Fifty rupees”, the words “One hundred rupees” shall be substituted,
(26) in Article 34, for the words “Two hundred and fifty rupees”, the words “One hundred rupees” shall be substituted.
(27) in Article 35, in clause (a) for the words “One thousand rupees”, the words “One hundred rupees” shall be substituted;
(28) in Article 36,—
(a) for clause (b), the following shall be substituted, namely:—
“(b) | when possession of the property or any part of the property comprised in such deed is not given or not agreed to be given. | The same duty as is leviable under Article 6(1)(a).”; |
(b) Explanation II shall be deleted.
(29) In Article 37, in clause (a), for the words “Twenty-five paise”, the words “Fifty paise” shall be substituted.
(30) for Article 39, the following shall be substituted, namely:—
“39. | NOTE OR MEMORANDUM, sent by a Broker or Agent to his principal intimating the purchase or sale on account of such principal— |
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| (a) of cotton including cotton pods or Kapas (Unginned Cotton). | One rupee for every ten thousand rupees or part thereof of the value of cotton at the time of its purchase or, as the case may be on sale. |
| (b) of bullion or specie. | One rupee for every ten thousand rupee or part thereof of the value of the silver, gold or, as the case may be, sovereigns at the time of purchase or, as the case may be, sale |
| (c) of oil-seeds. | One rupee for every ten thousand rupees or part thereof of the value of the oil seed at the time of its purchase or, as the case be, sale. |
| (d) Of any kind of yarn, non-mineral oils or spies. | One rupee for every ten thousand rupees or part thereof of the value of such yarn, ground-nut oil, other non-mineral oil or spices at the time of its purchase or, as the case may be, sale. |
| (c) of any other goods exceeding twenty rupees in value | Nil |
| (f) of any share, scrip, stock, bond, debenture stock or other marketable security of a like nature exceeding twenty rupees in value not being a Government Security | One rupee for every ten thousand rupees or part thereof of the value of the security at the time of its purchase or, as the case may be, sale. |
| (g) of a Government security. | One hundred rupees.” |
(31) in Article 41, for the words “Twenty rupees”, the words “One hundred rupees” shall be substituted.
(32) in Article 42, in clause (a), for the words “One rupee” the words “Five rupees” shall be substituted.
(33) in Article 43, in the proviso, in clauses (a) and (c) for the words “ten rupees”, the words “one hundred rupees” shall be substituted.
(34) in Article 44,—
(a) in clause (1), for the words “Subject to minimum of five hundred rupees and maximum of five thousand rupees, one rupee for every hundred rupees or part thereof of the amount of the capital of partnership”, the words “Subject to maximum of ten thousand rupees, one rupee for every hundred rupees or part thereof of the amount of the capital of partnership” shall be substituted;
(b) in clause (2), in sub-clause (b) for the words “Two hundred rupees” the words “One hundred rupees” shall be substituted;
(c) in clause (3), in sub-clause (b), for the words “Two hundred rupees”, the words “One hundred rupees” shall be substituted.
(35) in Article 46, for the words “Twenty rupees”, the words “One hundred rupees” shall be substituted.
(36) in Article 47, for the words “Twenty rupees”, the words “One hundred rupees” shall be substituted.
(37) in Article 48, for the portion beginning with the words “Subject to a maximum” and ending with the words “for which the property was mortgaged”, the words “One hundred rupees” shall be substituted.
(38) in Article 49, for the portion beginning with the words “Subject to a maximum” and ending with the words “value of the claim”, the words “One hundred” shall be substituted.
(39) in Article 51, for the words, letters and figures “Subject to a maximum of sixty rupees, six rupees for every Rs. 100 or part thereof of the amount secured”, the words “One hundred rupees” shall be substituted.
(40) in Article 52,—
(a) under the heading “A-Instrument of (including a deed of dower)—”, in the first proviso, for the words “ten rupees”, the words “one hundred rupees” shall be substituted;
(b) under the heading “B-Revocation of”, in entries (i) and (ii) for the words “twenty rupees”, the words “one hundred rupees” shall be substituted.
(41) Article 54 shall be deleted,
(42) in Article 55, for the words “Subject to a maximum of one hundred rupees the duty with which such lease is chargeable”, the words “One hundred rupees” shall be substituted.
(43) in Article 56,—
(a) in clause (b), for the portion beginning with the words “the same duty” and ending with the words “a maximum of fifty rupees”, the words “One hundred rupees” shall be substituted;
(b) in clause (c), for the words “Fifty rupees”, the words “One hundred rupees” shall be substituted;
(c) in clause (d), for the portion beginning with the words “the same duty” and ending with the words “a maximum of fifty rupees”.
(44) in Article 58,—
(a) in clause A, for the portion beginning with the words “The same duty” and ending with the words “not exceeding one hundred rupees”, the words “One hundred rupees” shall be substituted;
(b) in clause B, for the portion beginning with the words “The same duty” and ending with the words “not exceeding fifty rupees”, the words “One hundred rupees” shall be substituted.
(45) Article 59 shall be deleted.
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1. Received the assent of the Governor on dated 31-3-2006, published in the Gazette of Gujarat, dated 31-3-2006.