GUJARAT STAMP ACT 1958 PDF

Stamp duty is also chargeable on the registration of sale, purchase or transfer of immovable property. Stamp duty is paid during the registration of a document or deed. Stamp duty value is printed on stamp paper or e-stamp paper after the stipulated duty is paid. Stamp value varies from region to region, and also on the value of the deed or transaction being executed. This Act set the platform and foundation for how Stamps and Rules relating to Stamps are dealt with in the State of Gujarat.

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Amendment by Gujarat 5 of came into force w. Whereas it is expedient to consolidate and amend the law relating to stamps and rates of stamp duties other than those in respect of documents specified in entry 91 of List I in the Seventh Schedule to the Constitution of India in the State of Bombay; It is hereby enacted in the Ninth Year of the Republic of India as follows Chapter I Preliminary 1. Short title, extent and commencement. The prevailing maximum amount of stamp duty payable under these articles is applicable since Since the maximum duty under the said articles is very low, it is considered necessary to revise the maximum amount of stamp duty chargeable on the said instruments.

Sub-clauses 1 , 2 , 4 and 5 of clause 2 of the Bill proposes to amend the said articles suitably. The existing Article 18 of the Schedule I provides for the duty payable on the value of share, scrip or stock.

However it is considered necessary to include the amount of premium, if any, charged on the share, scrip or stock and therefore, to clarify the position, the Explanation to Article 18 is added.

Sub-clause 3 of clause 2 of the Bill proposes to amend the said article. It is proposed to amend Article 45 to provide that the stamp duty shall be charged at the rate of hundred rupees, if the power of attorney is given without consideration to the father, Mother, brother, sister, wife, husband, daughter, son, grandson, granddaughter and in the other cases, the stamp duty shall be charged as is payable on conveyance.

Sub-clause 6 of clause 2 of the Bill proposes to amend the said article. Article 49 is proposed to be substituted to provide that the stamp duty shall be charged at the rate of hundred rupees in case where a claim is renounced in respect of ancestral property to brother or sister, or son or daughter, or son of predeceased son, or daughter or predeceased son, or father or mother or spouse of the ronouncer, or the legal heirs of the above said relation and in other cases, the stamp duty shall be charged as is payable on conveyance or the market value of the claim, whichever is grater.

Sub-clause 7 of clause 2 of the Bill proposes to substituted the said article. This Bill seeks to amend the said Act to achieve the aforesaid objects. Accordingly, the stamp duty which is one per cent, in respect of giving authority or power to a promoter or a developer by whatever name called for construction or development or sale or transfer of any immovable property as provided in clause ga of Art.

It is also proposed to amend Art. Also in case of power of attorney when given to a promoter or developer by whatever name called for construction on or development or sale or transfer of any immovable property the stamp duty payable at the rate of one per cent, at present as provided in clause g of Art.

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What is meant by execution of instruments? How Stamp Duty is calculated.? Broadly the 62 articles of Schedule I are grouped in three categories. Category ii Articles where depending upon the value mentioned in the document, the amount of stamp duty is varied. Agreement relating to deposit of title deeds, pawn, pledge or hypothecation, Clearance List, Lease , Article of association, Mortgage deed, Security Bond, etc. Category iii Articles which attracts Stamp duty on the consideration mentioned in the document or True Market Value, whichever is higher.

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Gujarat Stamp Act 1958, to get amended

Amendment by Gujarat 5 of came into force w. Whereas it is expedient to consolidate and amend the law relating to stamps and rates of stamp duties other than those in respect of documents specified in entry 91 of List I in the Seventh Schedule to the Constitution of India in the State of Bombay; It is hereby enacted in the Ninth Year of the Republic of India as follows Chapter I Preliminary 1. Short title, extent and commencement. The prevailing maximum amount of stamp duty payable under these articles is applicable since

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