Amendment status not verified — confirm the current text below against the official source.
LEASE-including an under lease or sub-lease and any agreement to let or sub-let :- (a) Where by such lease is fixed and no premium is paid or delivered. (i) Where the lease purports to be for a term of less than one year. The same duty as conveyance (No. 23) for market value equal to the market value of the property of greatest value as set forth in such instrument. The same duty as conveyance (No. 23) for market value equal to the market value of the prope11y of greatest value as set forth in such instrl1ment. The same duty as security bond for the same amount. The same duty as a Bond (No. I 0) for the whole amount payable or deliverable under such lease. (ii) Where the lease The same duty as a Bond purports to be r., :· , tf' ·-,1 of not ''.:_:, , ;.i,_· ~- bu: r o .. 11-~\~ 1 e ! · \ ~~ (i. i l Where +h e i::·::ise purports to be for a term exceeding five years, and not exceeding ten years. ~;Tc., 15) for the amount or '.: ;_due of the average annual rent reserved The same duty as a conveyance (No. 23) for a market value equal to the an:ount or val 11e of the av cr .llSC ar ' Ll'l' re 11t res c:r·.' <:1~. 1212 THE ASSAM GAZETTE, EXTRAORDINARY, SEPT. 18, 2004c- (iv) Where the lease The same duty as a purports to be for a tenn conveyance (No. 23) for a exceeding ten years, but market value equal to twice not exceeding twenty the amount or value of the years. average annual rent reserved. (v)Where theleasepurports The same duty as a to be for a term conveyance (No. 23) for a exceeding twenty years, market value equal to three ' but not exceeding thirty times the amount or value years. (vi) Where the lease purports to be for a tem1 exceeding thirty years, but not exceeding one hundred years. (vii) Where the lease purports to be for a tem1 exceeding one hundred years, or in perpetuity. (viii) Where the lease does not purport to be for any definite tem1. of the average annual rent reserved. The same duty as a conveyance (No. 23) for a market value equal to four times the· amount or value of the average annual rent reserved. The same duty as a conveyance (No. 23) for a market value 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 years of the ' lease. The same duty as a conveyance (No. 23) for a market value equal to three times the amount or value of the average annual rent = • .. ..:..1 =:....:.A-=S=S=A-=M'-'-'--'G=A'-=Z=ET=-T-=-=E,>-=E-=-"X=-=-T=-R'-'--A_,__,O=R-=D=--I"-'-N"'"""A-=R-=-Y~,--'S"'""'E=P~T'--'-. --"'l-=-8,,_, -=2-=--00"--4'----_ I 2 13 (b) Where the lease is granted for a fine or premium or for money advanced and where no rem 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 (including a lease of trees for the production of food or drink) without the payment which would be paid or delivered for the first ten years if the lease continued so long. The same duty as a conveyance (No. 23) for a market value equal to the amount or value of such fine or premium or advance as set forth in the lease. The same duty as a conveyance (No. 23) for a market value equal to the amount or value of such fine or premium or advance as set forth in the lease, in addition to the duty which would have been payable on such lease if no fine or premium or advance had been paid or delivered : Provided that, in any case where· an agreement to lease is stamped with the advalorem stamp required for a lease and a lease in pursuance of such agreement is subsequently executed the duty on such lease shall not exceed two rupees. · 1214 THE ASSAM GAZETTE, EXTRAORDfNARY, SEPT. 18, 2~,.. or, de I i very o [ any f i n e or premium, when a definite tern1 is expressed and such tenn does not exceed one year, or when the average amrnal rent reserved does not exceed one hundred rupees. In this exemption a lease for the purpose of cultivation shall including a lease of lands for cultivation togethe r with a homestead or tank. Explanation :- When lease un- dertakes to pay any recurring charge, such as Government revenue ,. landlords share of cesses, ur 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 leassee shall be deemed to be part of the rent.