Amendment status not verified — confirm the current text below against the official source.
SURRENDER OF LEASE— (a) when the duty with which the lease is chargeable does not exceed five rupees; The duty with which such lease is chargeable. (b) in any other case………………….. Five rupees. Exemptions Surrender of lease, when such lease is exempted from duty. 3 [62. TRANSFER (whether with or without consideration)— (a) of shares in an incorporated company or other body corporate; Twenty five paise for every hundred rupees or part thereof of the value of the share: Provided that rates of stamp duty specified in column (2) on Bills of Exchange for items (b) and (c) in Article 13 and on promissory note for item (b) of Article 49 shall not apply to usance bills of exchange or promissory notes drawn or made for securing finance from Reserve Bank of India, Industrial Finance Corporation of India, Industrial Development Bank of India, State Financial Corporations, Commercial Banks and Cooperative Banks for (a) bona fide commercial or trade transactions, (b) seasonal agricultural operations or the marketing of crops, or (c) production or marketing activities of cottage and small scale industries and such instruments shall bear the rate of stamp duty at one-fifth of the rate mentioned against items (b) and (c) in Article 13 and item (b) in Article 49 of Schedule I of the Indian Stamp Act, 1899 (2 of 1899). Explanation 1.— For the purposes of the proviso— (a) the expression ―agricultural operations‖ includes animal husbandry and allied activities jointly undertaken with agricultural operation; (b) ―crops‖ include products of agricultural operations; (c) the expression ―marketing of crops‖ includes the processing of crops prior to marketing by agricultural producers or any organization of such producers. Explanation 2.— The duty chargeable shall, wherever necessary, be rounded off to the next five paise.] (b) of debentures, being marketable securities, whether the debenture is liable to duty or not, except debentures provided for by section 8; 4 [One-half] of the duty payable on a conveyance (No. 23) for a consideration equal to the face amount of the debenture. 55 SCHEDULE II.— [Enactments repealed.] Rep. by the Repealing and Amending Act, 1914 (10 of 1914), s. 3 and the Second Schedule.