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Karnataka Stamp Act, 1957 Schedule 1 - Bare Act

StateKarnataka Government
Year
Section TitleFirst Schedule (Part Ii)
Act Info:

18A.

(1)

Clearance list relating to the transactions for the purchase or sale of

The sum of duties chargeable under Article No. 5(b) or

Government securities submitted to the clearing house of a stock

Article No. 37(e), as the case may be in respect of each

exchange

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)

Relating to the transactions for the purchase or sale of a share, scrip,

The sum of duties chargeable under Article 5(e)(i) or

stock, bond, debenture, debenture stock or other marketable security

article No. 37(e), as the case may be in respect of each

of a like nature in or of any incorporated company or other body

of the entries in such list on the value of the securities

corporate submitted to the clearing house of a stock exchange

calculated at the making up price or the contract price as

recognised under the Securities Contracts (Regulation) Act, 1956

the case may be

(3)

Relating to the transactions for the purchase or sale of a share, scrip,

The sum of duties chargeable under Article 5(c)(i) or

stock, bond, debenture, debenture stock or other marketable security,

Article No. 37(b), as the case may be in respect of each

of a like nature in or of any incorporated company or body corporate,

of the entries in such list on the value of the securities

submitted to the clearance house of a stock exchange, not recognised

calculated at the making up price or the contract price

under the Securities Contract (Regulation) Act, 1956

as the case may be

19.

Composition deed, that is to say, any instrument executed by a debtor,

16[One hundred rupees]

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 debtors'

business, under the supervision of inspectors or under letters of licence, for

the benefit of his creditors

10[ 27[20.]

(1)

For Conveyance, as defined by clause (d)of section 2, not being a transfer

Charged or exempted under No. 52, on the market value of the property

Seven and half percent of the value]

Which is the subject matter of conveyance

11[xxx xxx xxx]

29[Provided that where a conveyance is backed

Provided further that in any case where a lease-cum-sale

by a valid title insurance policy issued by any

agreement is executed and is stamped with the ad

Insurance Company recognized by Insurance Regulatory and

valorem stamp required for such agreement under Item

Development Authority, the duty shall be 7% of

(d) of Article 5 and in furtherance of such agreement a

the market value of the property.]

conveyance is subsequently executed, the duty on such

conveyance shall not exceed rupees ten or the difference

of the duty already collected on the security deposit

under Item (d) of Article 5, whichever is greater

19[Provided also that notwithstanding anything contrary in this Act, where

a lease-cum-sale agreement was executed before thirty first day of

March 2001 in respect of a site allotted by any House Building Co-operative

Society registered under the Karnataka Co-operative Societies Act, 1959

(Karnataka Act 11 of 1959), and in furtherance of such agreement

a conveyance is subsequently executed, the duty payable on such

conveyance shall be on the market value of such site as on the date

of execution of the lease-cum-sale agreement.]

(2)

Where it relates to first instrument of conveyance executed by a

20[ 28[Seven and half percent of the value]

promotor, a land owner, or a developer by whatever name called,

pertaining to premices of 'Flat' as defined in clause (a) of Section 2 of

the Karnataka Ownership Flats (Regulation of the Promotion of

Construction, Sale, Management and Transfer) Act, 1972 (Karnataka

Act 16 of 1973) or "apartment" as defined in clause (a) of Section 3 of

the Karnataka Apartment Ownership Act, 1972 (Karnataka Act 17 of

1973) or transfer of share or in favour of Co-operative Society or

company pertaining to premises or Unit and the market value of the

property which is the subject matter of conveyance.

EXPLANATION:

(a)

Premises' means and includes undevided interest in the land

building and proportionate share in the common areas

(b)

Unit' includes flat, apartment, tenement, block or any other unit by

whatever name called, constructed or under construction in

accordance with the sanctioned plan by the authority competent to

sanction a building plan under any law for the time being in force;

(c)

Promoter' means a promoter as defined in clause (c) of Section 2 of

Karnataka Ownership Flats (Regulation of the Promotion of

Construction, Sale, Management and Transfer) Act, (Karnataka

Act 16 of 1973)

(3)

Where any instrument of conveyance is effected by the Bangalore

The duty shall be payable at the rates specified under

Development Authority constituted under Bangalore Development

clause (2) of Article 20 on the amount or value of

Authority Act, 1976 (Karnataka Act No. 12 of 1976) the Karnataka

consideration as setforth in the instrument:

Housing Board constituted under the Karnataka Housing board Act,

1962 (Karnataka Act No. 10 of 1963) pertaining to premises of Flat or

Provided that in any case where a lease-cum-sale

Apartment

agreement is executed and is stamped with the ad

valorem duty required for such agreement under item

(da) of Article 5 and in furtherance of such agreement a

conveyance is subsequently executed, the duty on

such conveyance shall be exceed Rs. 50 or the

difference of the duty payable on such conveyance

and the duty already collected on the security deposit

under item (da) of Article 5, whichever is greater.

30[(4)

If relating to an order made by the High Court under section 394 of the Companies Act, 1956 in respect of;

(i) Amalgamation of Companies, including a subsidiary amalgamating with parent company

Same duty as a conveyance [under Article 20(1)] on the market value of the property of the transferor company, located within the State of Karnataka and transferred to the transferee company; or

An amount equal to 0.7% of the aggregate value of shares issued or allotted in exchange, or otherwise and in case of a subsidiary company, shares merged (or cancelled) with parent company and in addition, the amount of consideration if any, paid for such amalgamation;

-which ever is higher.

(ii) Reconstruction or Demerger of a company

Same duty as a conveyance [under Article 20(1)], on the market value of the property of the transferor company, located within the State of Karnataka, and transferred to the resulting company; or

An amount equal to 0.7% of the aggregate value of shares issued or allotted to the resulting company and in addition, the amount of consideration if any, paid for such demerger or reconstruction;

- whichever is higher.]

22[

(5)

Conveyance relating to industrial Machinery whether treated as moveable or

Five per cent of the market value]

Immoveable property

(6)

If relating to assignment of receivables by the originator to the special

One rupees for every one thousand rupees or part

purpose vehicle (SPV), or by whatever name they are called, in the

thereof subject to a maximum of rupees on lakh

process of securitisation

21.

Copy of extract , certified to be true copy or extract by or by order of any

public officers and not chargeable under the law for the time being in force

relating to the Court Fees, --

(I)

If the original was not chargeable with duty, or if the duty with which it

Five rupees

was chargeable does not exceed five rupees

(ii)

in any other case

Ten rupees

Exemption. --

(a)

Copy of any paper which a public officer is expressly required bylaw to

make or furnish for record in any public office or for any public purpose.

(b)

copy of, or extract from any register relating to the births, baptisms,

namings, dedications, marriages, divorces, deaths or burials.

22.

Counterpart or Duplicate - - of any instruments, chargeable with duty and in

respect of which the proper duty has been paid, --

(a)

if the duty with which the original instruments is chargeable does not

The same duty as payable on the original

exceed four rupees and fifty paise

(b)

in any other case

23[Fifty rupees]

Exemption: Counter part of any lease granted to a cultivator when such lease

is exempted from duty

23.

Customs bond, --

(a)

where the amount does not exceed Rs. 1,000

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

(b)

in any other case

24[One hundred rupees]

Declaration of any trust -- See Trust (No. 54)

24.

Delivery -- order in respect of goods, that is to say, any instrument entitling

13[xxx xxx xxx]

any person, therein named, or his assigness 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 such

instrument being signed by or on behalf of the owner of such goods upon

The sale or transfer of the property therein,

14[(I)

Where the value of the goods does not exceeds Rs. 1000

Rupees one

(ii)

Where the value of the goods exceeds Rs. 1000, thereof

Rupees five for every rupees one thousand or part

thereof ]

Deposit of title deeds -- See Agreement relating to deposit of title deeds,

pawn or pledge (No. 6).

Dissolution of partnership -- See Partnership (No. 40)

25.

Divorce Instrument of, that is to say, any instrument by which any person

25[One hundred rupees]

effects the dissolution of his marriage.

Dower -- Instrument of -- See Settlement (No. 48)

Duplicate -- See Counterpart (No. 22)

26.

Exchange of property -- instrument of extract -- See Copy (No. 21)

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

value equal to the market value of the property of

greatest value which is the subject-matter of exchange

27.

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

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

caluse (a) of Article No. 34 (that is, with possession).

value equal to the amount of the further charge secured

by such instrument

(b)

when such mortgage is one of the description referred in clause (b) of

Article No. 34 (that is, without possession), --

(i)

if at the time of execution of the instrument of further charge

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

possession of the property is given or agreed to be given under

value equal to the total amount of the charge (including

such instrument

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 given and not being a hypothecation

26[Fifty paise for every one hundred rupees for the amount of the

further charge secured by such instrument.]

(iii)

for hypothecation

The same duty as sub-clause (d) of Article 34 for the

amount of the further charge secured by such instrument

28.

Gift -- Instrument of -- not being a Settlement (No. 48) or Will or Transfer

(No. 52)

(a)

where the donee is not a family member of the donor

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

value equal to the market value of the property which is

the subject-matter of the gift:

Provided that where an instrument of gift contains any

provision for the revocation of the gift, the value of the

property which is the subject-matter of the gift, shall for

the purposes of duty be determined as if no such

provision were contained in the instrument

15[(b)

where the donee is a member of the family of the donor

Rupees one thousand

Explanation: Family in relation to the donor for this purpose means husband,

wife, son, daughter, 31[daughter-in-law, brothers, sisters] and grand children.]

29.

Indemnity bond

Inspectorship deed -- See Composition deed (No. 19)

The same duty as a Security bond (No. 47) for the same

Amount

Act on, 6 of 1999

___________________________________________________________

10Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000

11Omitted by Act No. 6 of 2001, w.e.f. 1-4-2001.

*Previous Reference: Provided that in respect of any instrument of convenyance effected by the house Building co-operative sodelles, registered under the Karnataka co-operative Societies Act, 1959 (Karnataka Act No. 11 of 1959) insofar as it relates to allotment of buildigs or sites to their members, the duty shall be payable at the rates specified above on the amount or value of consideration for such conveyance as setforth in the instrument:

12Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000.

* Previous Reference : Where the Market value:--

I Does not exceed rupees 5,00,000 Four rupees for every hundred rupees or part thereof

II Exceeds rupees 5,00,000 but does not exceed rupees 15,00,000 Twenty thousand rupees plus six rupees for every hundred rupees or part thereof in excess of rupees 5,00,000

III Exceeds rupees 15,00.000 Eighty thousand rupees plus eight rupees or part thereof in excess of 15,00,000

13Omitted by Act No. 7 of 2000, w.e.f. 1-4-2000 the words Twenty paise

14Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000, for the words when such goods exceeds in value twenty rupees

15*Substituted by Act No. 6 of 2001, w.e.f. 1-4-2001.

*Previous Reference: (b) where the donee is a member of the family of the donor

(i) Where the market value is less than Rs. 50,000 - Rs. 500

(ii) Where the market value is Rs. 50,000 and above the less than Rs. 10 lakhs - 2% of the value

(iii) Where the market value is Rs. 10 lakhs and above but less than Rs. 20 lakhs - 3% of the value

(iv) Where the market value is Rs. 20 lakhs and above - 5% of the value

Explanation: Family in relation to the donor for this purpose means husband, wife sons and daughter]

#Substituted by Act No. 7 of 2000, w.e.f. 1-4-2000

16Substituted by Act No. 8 of 2003 w.e.f 1-4-2003, for the words forty-five rupees

17Substituted by Act No. 8 of 2003 w.e.f 1-4-2003, for the words 10% of the value

18Substituted by Act No. 8 of 2003 w.e.f 1-4-2003, for the words 9% of the value

19Inserted by Act No. 8 of 2003 w.e.f 1-4-2003

20Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:

(I)

1 2[Where the market value

Two per cent of the

does not exceed rupees

value

there lakhs.]

(ii)

Exceeds rupees three lakhs

Rupees six thousand

but does not exceed rupees

plus 3 per cent of the

five lakhs.

value exceeding rupees

three lakhs

(iii)

exceeds rupees five lakhss

Rupees 12,000/- plus

but does not exceed rupeesees

6 per cent of the value

ten lakhs

exceeding rupees five

lakhs

(iv)

exceeds rupees ten lakhs,--

(a) if situated within the

Rupees 42,000/- plus 8

limits of Bangalore

per cent of the value

Metropolitan Regional

exceeding rupees ten

Development Authorityrity

lakhs

(b) if situated in areas

Rupees 42,000/- plus 7

other than the limits of

per cent of the value

Bangalore Metropolitantan

exceeding rupees ten

Regional Developmentnt

lakhs

Authority

21Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:

Ten rupees for every rupees one thousand or part thereof, on the market value of the property of the transferor company, located in State of Karnataka and transferred to the transferee company on amalgamation

22Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:

(5)

If relating to industrial machinery

Exemption. --

Two rupees for every rupees one hundred or part thereof

(i)

Sale of industrial machinery by the manufacturer or his authorised Agent

(ii)

Industrial machinery not exceeding the value of rupees twenty-five thousand.

23Words thirty Rupees Substituted by Act No. 8 of 2003 w.e.f 1-4-2003.

24Words Eight Rupees Substituted by Act No. 8 of 2003 w.e.f 1-4-2003.

25Words Ten rupees Substituted by Act No. 8 of 2003 w.e.f 1-4-2003.

26Substituted by Act No. 8 of 2003 w.e.f 1-4-2003. Prior to substitution it read as under:

The same duty as a Bond (No. 12) for the amount of further charge secured by such instrument, subject to a maximum of Rupees three lakhs

27Substituted by Act No. 7 of 2006 w.e.f 1-4-2006. Prior to substitution it read as under:

For Conveyance, as defined by clause (d) of Section 2, not being a transfer charged or exempted under No. 52, on the market value of the property which is the subject-matter of conveyance, if the property is situated within the limits of,--

(I) Bangalore Metropolitan Regional Development Authority 17[8% of the value]

(ii) City Corporation of City of Town Municipal Council or any Town 18[8% of the value] Panchayats other than the areas specified in item (I)

(iii) Any area other than areas specified in items (I) and (ii) 8% of the value

28 Substituted by Act No. 7 of 2006 w.e.f 1-4-2006. Prior to substitution it read as [Eight per cent of the value]

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

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

"(4)

If relating to an order made by the High Court under Section 394 of

the Companies Act, 1956 in respect of amalgamation of companies

21[Ten per cent of the aggregate market value 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 to 7 per cent of the market value

of the immovable property located within the State of Karnataka 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 for that, in case of re-construction or demeger the duty chargeable

Shall not exceed,-

(i) an amount equal to 7 per centum of the market value of the immoveable property located within the state Karnataka transferred by the Demerging Company to the Resulting Company, or

(ii) an amount equal to 0.7 percentum 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.]

Exemption. -- Amalgamation of sick companies with others, under the orders of Board of Industrial Finance and Reconstruction (BIFR)."

31. Substituted for the words "daughter-in-law" by the Karnataka Stamp (Third Amendment) Act, 2007, w.e.f. 01.04.2007.




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