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KARNATAKA STAMP ACT, 1957 Schedule 1 -

FIRST SCHEDULE (PART I):


Karnataka Stamp Act, 1957

Schedule

Stamp Duty on Instruments

Art No.

Description of Instrument

Proper Stamp Duty

1

2

3

1.

Acknowledgement of, --

(i) 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) exceeds Rs. 100 but does not exceed Rs. 1 [5,000]

3 [Two rupees]

(b) when exceeds 2 [Rs. 5,000/-

Two rupees plus rupees two for every thousand or part thereof ] 4 [Subject to a maximum of rupees one thousand

(ii) 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 unincorporated to the sender of such letter, article, document, parcel, package or consignment.

One rupee for every One hundred rupees or part thereof of the amount charged therefore]

2.

Administration bond, including a bond given under Section 6 of the Government Savings Banks Act, 1873 (Central Act V of 1873) of Section 289, 291, 375 of 376 of the Indian Succession Act, 1925 (Central Act XXXIX of 1925), --

(a) Where the amount does not exceed Rs. 1,000

The same duty as Bond (No. 12) 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 in adoption, or conferring or purporting to confer an authority to adopt

10 [Five hundred rupees]

Advocate -- See Certificate of enrolment as an Advocate (No. 17)

4.

Affidavit, including an affirmation or declaration in the case of persons by

5 [Twenty rupees]

law allowed to affirm or declare instead of swearing

Exemptions: Affidavit or declaration in writing when made, --

(a) as a condition of enlistment to the Armed Forces of the Union;

(b) for the immediate purpose 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 bill of exchange

One rupee for every rupees ten thousand or part thereof

(b) If relating to the purchase or sale of a Government security

One rupee for every rupees ten thousand or part thereof of the value of the security at the time of its purchase or sale, as the case may be subject to a maximum of rupees one thousand

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

One rupee for every rupees ten thousand or part 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 ten thousand 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 a transaction of lease-cum-sale in connection with the allotment of a building site, with or without building thereon, effected by the Bangalore Development Authority constituted under the Bangalore Development Authority Act, 1976 (Karnataka Act No. 12 of 1976), the City Improvement Trust Board, Mysore constituted under the City of Mysore Improvement Act, 1903 (Mysore Act No. 3 o 1903), the Karnataka Housing Board constituted under the Karnataka Housing Board, 1962 (Karnataka Act No. 10 of 1933), the Improvement Board constituted under the Karnataka Improvement Board Act, 1976 (Karnataka Act, No. 11 of 1976), House Building Co-operative Societies registered under the Karnataka Co-operative Societies Act, 1959 (Karnataka Act, No. 11 of 1959), or the allotment of industrial sheds and plots by the

The same duty as a conveyance (No. 20) for a market value equal to the security deposit and the amount of average annual rent reserved under such agreement

Karnataka Industrial Areas Development Board established under the Karnataka Industrial Area Development Act, 1966 Karnataka Act No. 18 of 1966), the Karnataka Small Scale Industrial Development corporation, the Karnataka State Industrial Investment and Development Corporation and the Karnataka State

Electronic Development Corporation, Registered as a Company under the Companies Act, 1956 (Central Act No. 1 of 1956), or the allotment of land or site with or without building to the market functionaries in the yard by the Agricultural Produce Market Committees constituted under the Karnataka Agricultural Produce

Marketing (Regulation) Act, 1966 (Karnataka Act No. 27 of 1966) Municipal Corporation constituted under the Karnataka Municipal Corporation Act, 1976 (Karnataka Act No. 14 of 1977), Municipal Councils or Town Panchayats constituted under the Karnataka Municipalities Act, 1964 (Karnataka Act No. 22 of 1964), Urban Development Authorities Constituted under the Karnataka Urban

Development Authorities Act, 1987 (Karnataka Act No. 34 of 1987), Grama Panchayats, Taluk Panchayats and Jilla Panchayats constituted under the Karnataka Panchayat Raj Act, 1993

(Karnataka Act No. 14 of 1993) and such other authorities as may be specified by the Government

(da) Where any instrument of lease-cum-sale effected by the Bangalore Development Authority constituted under the Bangalore Development Authority Act, 1976 (Karnataka Act No. 12 of 1976), the Karnataka Housing Board constituted under the Karnataka Housing Board Act, 1962 (Karnataka Act No. 10 of 1963) pertaining to premises of a Flat or Apartments

The duty payable shall be as a conveyance No. 20(3) for the market value equal to the security deposit and the amount of average annual rent reserved under such agreement

(e) If relating to sale of immovable property wherein part performance of the contract,--

(I) possession of the property is delivered or is agreed to be delivered without executing the conveyance

The same duty as a Conveyance (No. 20) on the market value of the property

(ii) possession of the property is not delivered, --

(a) where the value of the property

(I) does not exceed Rs. 5,000

Ten rupees

(ii) exceeds Rs. 5,000 but does not exceedRs. 20,000

Twenty rupees

(iii) Exceeds Rs. 20,000 but does not exceed Rs. 50,000

One hundred rupees

(iv) exceeds Rs. 50,000

Two hundred rupees

17[Explanation: Where a reference of a Power of Attorney, granted separately by the seller to the purchaser, in respect of the property which is the subject matter of such agreement; is made in the agreement, the possession of the property is deemed to have been given for the purpose of this clause.]

(b) where such agreement or memorandum of an agreement does not relate to monetary transactions or transactions not susceptible to valuation in terms of money

Fifty rupees

18[(f) If relating to giving authority or power to a developer by whatever name called, for construction or, development of, or sale or transfer (in any manner whatsoever) any immoveable property.

Where the market value of property
(1) Does not exceed Rupees one crore 10,000/-
(2) Exceeds one crores and does not exceed two crores 20,000/-
(3) Exceeds two crores and does not exceed five crores 50,000/-
(4) Exceeds five crores and does not exceed ten crores 1,00,000/-
(5) Exceeds Ten crores 1,50,000/-]

(g) If relating to sale of movable property

Same duty as in sub-clause (e) of this article

(h) If relating to the mortgage

Same duty as under article No. 34 (a) of (b) as the case may be

(I) If not otherwise provided for

Fifty rupees

Explanation I: Omitted

Explanation II: For the purpose of 19[sub-clause (i) and (ii)] of clause (e) and clause (h), where subsequently conveyance or mortgage as the case may be, is executed in pursuance of such agreement or its records or memorandum the stamps duty, if any, already paid and recovered on the agreement or its record or memorandum shall be adjusted towards the total duty leviable on the conveyance or mortgage, as the case may be.

6.

Agreement relating to deposit of title deeds, pawn or pledge, 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,--

11 [(a) If such loan or debt is repayable on demand or more than three months from the date of instrument evidencing the agreement

If drawn If drawn in set of If drawn in set singly two, for each part of three, of of the set each part of the set set

Rs. Ps.

Rs. Ps.

Rs. Ps.

(i) when the amount of the loan or debt does not exceed Rs. 500

2.50

2.00

1.00

(ii) When it exceeds Rs. 500 but does not exceed Rs. 1,000

5.00

2.50

2.00

(iii) When it exceeds Rs. 1,000 but does not exceeds Rs. 5,000

25.00

12.5

10.00

(iv) When it exceeds Rs. 5,000 but does not exceed Rs 10,000

50.00

25.00

20.00

17[Provided that, if the loan is for the following purpose,-
1. Exclusively for the development of property for Commercial use as indicated in the sanctioned plan. 0.5% duty is subject to a maximum of Rupees five lakh.
2. Exclusively for the development of property for Residential use as indicated in the sanctioned plan 0.5% duty is subject to a maximum of Rupees fifty thousand.]

(v) When it exceeds Rs. 10,000 for every additional Rs. 5,000 or part thereof in excess of Rs. 10,000

25.00

10.00

(b) If such loan or debt is repayable not more than three months from the date of such instrument

Half the duty payable on a loan or debt under sub-clause (i) or (ii) or (iii) or (iv) or (v) of clause (a) for the amount Secured]

   22[Explanation: For the purpose of clause (1), notwithstanding Anything contained in any judgment, decree or order of any court, order of any authority, any letters, not memorandum or writing relating to 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 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, deemed to be an instrument evidencing an agreement relating to the deposit of title deeds]

(2) the pawn or pledge, of movable property, where such pawn or pledge 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,--

(a) if such loan or debt is repayable not more than three months from the date of such instrument;

Twenty-five paise for every hundred rupees or part Thereof

(b) If such loan or debt is repayable on demand or more than three months from the date of instrument evidencing the agreement

Fifty paise for every hundred rupees or part thereof subject to a maximum or rupees two lakhs

Provided that where a fresh instrument of pawn or pledge of movable property is executed for securing repayment of money already advanced by way of loan between the same parties and for the same purpose and for the same amount and the duty is respect of earlier instrument has been paid, then the duty chargeable on such fresh instrument is chargeable as per clause (I) of Article 5 of this Schedule.

Exemption : Instruments of pawn or pledge of goods, if unattested.

Note: "Goods" for the purpose of exemption means raw materials and stock in trade only.

7.

Appointment in execution of a power, whether of trustees or of property, movable or immovable, where made by any writing not being a Will

8 [One thousand rupees]

8.

Appraisement or valuation, made otherwise than under an order of the Court in the course of a suit, --

(a) where the amount does not exceeds Rs. 1,000

The same duty as a Bond (No. 12) for such amount 12 [One hundred rupees]

(b) in any other case

Exemptions:

(a) Appraisement or 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 landlord as rent.

9.

Apprenticeship deeds, including every writing relating to the service ortuition of any apprentice clerk or servant placed with any master to learn any profession, trade or employment

13 [Fifty rupees]

Exemption : Instruments of apprenticeship, by which a person in 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 increased share capital

9 [Five hundred rupees for every rupees Ten lakhs or part Thereof]

Exemption: Articles of any association not formed for profit and registeredunder Section 25 of the Companies Act, 1956. See also Memorandum of Association of a Company (No. 33).

Assignment: See Conveyance (No. 20), Transfer (No. 52) and Transfer ofLease (No. 53), as the case may be.

Authority to Adopt: See Adoption deed (No. 3)].

20[11.

Award.- that is to say any decision in writing by an Arbitrator or umpire, not being an Award directing a partition on a reference made otherwise than by an order of the court in the course of a suit; On the Amount or market value of the property whichever is higher.

The same duty as a bond (Article No. 12) on the market value of the property which is the subject matter of the award.]

12.

Bond, defined by section 2 (1)(a), not being otherwise provided for by this Act, or by the Karnataka Court Fees and Suits Valuation Act, 1958,--

(a) where the amount or value secured does not exceed Rs. 1,000

Rupees five for every rupees one hundred or part thereof

(b) where it exceeds Rs. 1,000 See administration bond (No. 2), Bottomry bond (No. 13), Customs bond (No. 23), Indemnity bond (No. 29), Respondentia bond (No. 46), Security bond No. 47).

The same duty as under clause (a) for the first rupees one thousand and for every rupees five hundred or part thereof in excess of rupees one thousand: rupees twenty-five

Exemption: Bond, when executed by any person for the purpose ofguaranteeing 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 mensem

13.

Bottomry bond, that is to say, any instrument where by the master of aseagoing ship borrows money on the security of the ship to enable him to preserve the ship of prosecute her voyage

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

23[14.

Cancellation of instruments,-

(a) Cancellation of any instrument previously executed on which stamp duty has been paid as per any article of the 21[Schedule and not otherwise specifically provided for by the Schedule.]

One hundred rupees

(b) Cancellation of any instrument executed by or on behalf of the Central Government or a Local Authority or other authority constituted by or under any law for the time being in force or a body corporate wholly owned or controlled by the Central Government or the State Government. One hundred rupees
(c) in any other case One hundred rupees

See also Release (No. 45), Revocation of Settlement (No. 48-B), Surrender of Lease (No. 51), Revocation of Trust (No. 54-B)

Explanation: If the original instrument has been subjected to determination of the market value under Section 45-A of the Act, stamp duty on the cancellation of such instrument shall be the same as determined under Section 45-A of the Act.]

15.

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 Court or Tribunal or officer of Government or by any other authority under any enactment, --

(a) where the purchase money does not exceed Rs. 10

One rupee

(b) where the purchase money exceeds Rs. 10 but does not exceed Rs. 25

One rupee and fifty paise

(c) in any other case

The same duty as a Conveyance (No. 20) for a market value equal to the amount of the purchase money only.

16.

Certificate or other document evidencing the right or title of the holderthereof, or any other person, either to any share, 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 (No. 31)

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

Explanation : for the purpose of this Article, the value of the share, scrip, orstock includes the amount of premium, if any

17.

Certificate of enrolment, in the roll of advocates prepared ad maintained bythe State bar Council under the Advocates Act, 1961 (Central Act No. 25 of 1961)

15 Five hundred rupees]

18.

Charter-party, that is to say, any instrument (except an agreement for the hire of a tug-steamer) whereby a vessel or some specified principal part thereof is let for the specified purposes of the charter, whether it includes a penalty clause or not

16 [Fifty rupees]

________________________

1.Substituted for the figure "10,000" by Act No. 7 of 2000, w.e.f. 1-4-2000

2.Substituted for the words "One rupee" by Act No. 7 of 2000, w.e.f. 1-4-2000

3.Substituted by Act NO. 7 of 2000, w.e.f. 1-4-2000

4. Inserted by Act NO. 6of 2001, w.e.f. 1-4-2001

5. Substituted by Act No. 7 of 2000, w.e.f.1-4-2000 for the words "Fifteen rupee"

6. Substituted by Act No. 8 of 2003, w.e.f. 01.04.2003. Prior to substitution it read as under: "Two Rupees for every hundred rupees or part thereof on the market value of the property which is the subject- matter of agreement";

8. Substituted by Act NO. 7of 2000 w.e.f. 1-4-2000 for the words "Seventy-five rupees"

9.Substituted by Act No. 6 of 2001, w.e.f. 1-4-2001 for the words "One thousand rupees for every rupees five lakhs or part thereof"

10.Substituted by Act No. 8 of 2003, w.e.f. 01.04.2003 for the words "forty-five rupees"

11.Substituted by Act No. 8 of 2003, w.e.f. 01.04.2003. Prior to substitution it read as under:

"(a) If such loan or debt is repayable on demand or more than threemonths from the date of instrument evidencing the agreement

If drawn singly

If drawn in set of two, for each part of the set

If drawn in set of three, of each part of the set

Rs. Ps.

Rs. Ps.

Rs. Ps.

(1). When the amount of the loan or debt does not exceed Rs. 500

5.00

3.00

2.00

(ii) When it exceeds Rs. 500 but does not exceed Rs. 1,000

10.00

5.00

3.00

(iii) When it exceeds Rs. 1,000 but does not exceeds Rs. 5,000

50.00

25.00

20.00

(iv) When it exceeds Rs. 5,000 but does not exceed Rs. 10,000

100.00

50.00

30.00

(v) When it exceeds Rs. 10,000 for every additional Rs. 5,000 or part therefore in excess of Rs. 10,000

Rs. 5,000 Subject to a Maximum of Rs. 50,000.00

25.00

20.00

(b) If such loan or debt is repayable not more than three mohnths from the date of such instrument

Half the duty payable on a loan or debt under sub-clause (I) or (ii) or (iii) or (iv) or (v) of clause (a) for the amount Secured"

12.Substituted by Act No. 8 of 2003, w.e.f. 01.04.2003 for the words "thirty rupees"

13. Substituted by Act No. 8 of 2003, w.e.f. 01.04.2003 for the words "Fifteen rupees"

14. Substituted by Act No. 8 of 2003, w.e.f.01.04.2003 for the words "Two rupees"

15. Substituted by Act No. 8 of2003, w.e.f. 01.04.2003 for the words "Three hundred and thirty-five rupees"

16.Substituted by Act No. 8 of 2003, w.e.f. 01.04.2003 for the words "Six rupees"

17. Inserted by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007.

18. Substituted by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007. Prior to substitution it was as under:

"(f) If relating to giving authority or power to a promoter or developer by whatever name called, for construction or, development of, or sale or transfer (in any manner whatsoever) of any immovable property, situated in Karnataka State

6[One thousand rupees]"

19. Substituted for the words, brackets and letters "sub-clause (i) and (ii)" by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007.

20. Substituted by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007. Prior to substitution it was as under:

11.

Award, that is to say, any decision in writing by an arbitrator or umpire, not being an award directing a partition on a reference made otherwise than by an order of the Court in the course of a suit, --

 

 

(a) Where the amount or value of the property to which the award relates does not exceed Rs. 1,000;

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

 

(b) if it exceeds Rs. 1,000 but does not exceed Rs. 5,000

Forty rupees

 

and for every additional Rs. 1,000 or part thereof in excess of Rs. 5,000

14[Five rupees]

21. Substituted for the word "Schedule" by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007.

22. Inserted by Act No.7 of 2006, w.e.f. 01-04-2006.

23. Substituted by Act No.7 of 2006, w.e.f. 01-04-2006. Prior to substitution it was read as under:

"Cancellation - instrument of - (including any instrument by which any instrument previously executed is cancelled), if attested and not otherwise provided for.

See also Release (No. 45), Revocation of Settlement (No. 48-B), Surrender of Lease (No. 51), Revocation of Trust (No. 54-B)"


  
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