Amendment status not verified — confirm the current text below against the official source.
LEASE, including an under-lease or sublease and any agreement to let or sub-let- (a) where by such lease the rent is fixed and no premium is paid or delivered- (i) where the lease purports to be to a term of less than one year; (ii) where the lease purports to be for a term of not less than one year but not more than five years; (iii) where the lease purports to be for a term in excess of five years and ; not exceeding ten years. (iv) where the lease purports to be for a term exceeding ten years, but not exceeding twenty years. (v) where the lease purports to be for a term as a exceeding twenty years, but not exceeding thirty years. (vi) where the lease purports to be for a term as a exceeding thirty years, but not exceeding one hundred years. (vii) where the lease purports to be for a term exceeding one hundred years, or in perpetuity. (viii) where the lease does not purport to be for any definite term. (b) where the lease is granted for a fine or premium or for The same duty as a Bond (No. 1 5) for the whole amount payable or deliverable under such lease. The same duty as a Bond (No.15) for the amount or value of the average annual rent reserved. The same duty as a conveyance (No. 23) for a consideration equal to the amount or value of the average annual rent reserved. The same duty as a Conveyance (No.23) for a consideration equal to twice the amount or value of the average annual rent reserved. The same duty as a Conveyance {No.23) for a consideration equal to three times the amount or value of the average annual rent reserved. The same duty as a Conveyance (No.23) for a consideration equal to four times the amount or value of the average annual rent reserved. The same duty as a conveyance (No.23) for a consideration equal in the case of a lease granted solely for agricultural purposes to one tenth and in any other case to one-sixth of the whole amount of rents which would be paid or delivered in respect of the first fifty yea rs of the lease. The same duty as a Conveyance {No. 23) for a consideration equal to three times the amount or value of the average annual rent which would be paid or delivered for the first ten years if the lease continued so long. The same duty as a Conveyance (o money advanced and where no rent is reserved. c) where the lease is granted for a fine or premium or for money advanced in addition to rent reserved. Exemption: Lease, executed in the case of cultivator and for the purpose of cultivation and for the purpose of cultivation (including a lease of trees for the production of food or drink) without the payment or, delivery of any line or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees. In this exemption a lease for the purpose of cultivation shall include a lease of lands for cultivation together with a homestead or tank. Explanation: When lease undertakes to pay any recurring charge, such as Government revenue, landlords share of ceases, or the owner's share of municipal rates of taxes, which is by law recoverable from the lessor, the amounts so agreed to be paid by the lease shall be deemed to be part of the rent.