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The Bill seeks to replace the said ordinance. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 29th February 1980, as No. 154, at page. 5.) XIV Amending Act 16 of 1981.- The allottees of sites or houses have to execute lease-cum-sale agreement with bodies like the Bangalore Development Authority, the Karnataka Housing Board, City 8 Improvement Trust Boards and Housing Co-operative Societies etc. After the expiry of the lease period conveyances are executed in favour of the allottees. The lease-cum-sale Agreement would attract levy of stamp duty under Article 30(c) of the Schedule to the Karnataka Stamp Act, 1957 at the same rate as a conveyance on the advance paid in addition to the duty payable on the lease. Again when the conveyance is subsequently executed, duty is payable on the full value of the considerations. Thus duty becomes payable on these transactions as for a conveyance, twice. Representations have been received from the public requesting the Government to grant relief. In view of this and in order to recover the full duty at the initial stage itself when the lease-cum-sale agreement is executed, the amendments proposed are sought to be made. Hence this Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 3rd February 1981, as No. 85, at page. 4.) XV Amending Act 16 of 1983.—Section 46A of the Karnataka Stamp Act, 1957 provides for recovery of stamp duty not levied or short levied. Under the said section, the Chief Controlling Revenue Authority or an officer authorised by the State Government could initiate action with in three years from the date of commencement of the Karnataka Stamp (Amendment) Act, 1980 by which the said section was introduced. In cases where the reason for non-payment was fraud, etc., a longer period of six years was permissible. Action for recovery of deficit duty under the said section has to be taken in about 40000 to 50000 cases and further extension of the period has become necessary. In these circumstances, it is considered necessary to fix the relevant period as 5 years and 10 years instead of 3 years and 6 years respectively. An Ordinance was issued and this Bill seeks to replace the said Ordinance. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 25th March 1983, as No. 186, at page. 3.) XVI Amending Act 9 of 1987.- To give effect to the proposals made in the Budget Speech, it is proposed to amend the Karnataka Stamp Act, 1957. Hence the Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A, dated 27th March 1987, as No. 243, at page. 4.) XVII Amending Act 24 of 1987.- Section 7 of the Karnataka Stamp Act, 1957 does not provide for charging a copy of an instrument received in the State of Karnataka, where an instrument is registered in any part of India other than Karnataka in respect of the property situated in Karnataka. The different rates of stamp duty applicable in other States in respect of sale, gift, mortgage and such transactions have enabled the concerned parties to evade stamp duty in Karnataka by having their documents registered in Presidency towns of Bombay, Calcutta, Madras as well as Delhi District, vide the provisions of Section 30 (2) of the Indian Registration Act. This has resulted in huge loss of revenue to the Government of Karnataka. It is also considered necessary to enhance the rate of stamp duty chargeable in respect of Partnership under article 40 of the Schedule to the Karnataka Stamp Act, as it has been found that with a view to avoid higher stamp duty payable on conveyances, the registering parties are resorting 9 to the evasion of stamp duty by entering into partnerships, with one partner contributing immovable property and the other contributing cash, and thereafter dissolving the partnership and transferring the immoveable property to the partner who contributed cash in lieu of such cash, and vice-versa. Hence the Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 11th February 1987, as No. 123, at page. 4.) XVIII Amending Act 10 of 1988.- As at present the duty in respect of any instrument of conveyance effected by the Bangalore Development Authority, the City Improvement Trust Board. Mysore, the Karnataka Housing Board, the Improvement Boards constituted under the Karnataka Improvements Boards Act, 1976 shall be payable at the rates specified in the Schedule on the amount or value of consideration for such conveyance as setforth in the instrument. It is proposed to extend such concession to the House Building Co-operative Societies, registered under the Karnataka Co-operative Societies Act, 1959. Hence the Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 8th February 1988 as No. 82, at page. 3.) XIX Amending Act 10 of 1990.- To give effect to the proposals made in the Budget speech, it is considered necessary to amend the Karnataka Stamp Act, 1957. Hence the Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 30th March 1990, as No. 154, at page. 9.) XX Amending Act 11 of 1991.—To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957. Hence the Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 22nd March 1991 as No. 131, at page 47) XXI Amending Act 19 of 1994.- To give effect to the proposals made in the Budget Speech it is considered necessary to amend the Karnataka Stamp Act 1957. Hence the Bill. (Obtained from LA Bill No. 14 of 1994.) XXII Amending Act 8 of 1995.- To give effect to the proposals made in the Budget Speech it is considered necessary to amend the Karnataka Stamp Act, 1957 and also to make some consequential amendments are proposed. Hence the Bill. (Obtained from LA Bill No. 2 of 1995.) 10 XXIII Amending Act 20 of 1996.- Sub-clause (3)(a) of Article 20 of the Schedule to the Karnataka Stamps Act, 1957 provides that second and subsequent sale of Motor Vehicles of above 75 C.C. except Autorikshaws are chargeable with duty. In order to implement the said provision properly it is necessary to cast a duty on the registering authority not to enter such vehicles in the registration certificate unless specified stamp duty is paid by amending the said Act suitably. Hence the Bill. (Obtained from LA Bill 15 of 1995 (File No. LAW 34 LGN 95) XXIV Amending Act 9 of 1997.- It is considered necessary to amend the Karnataka Stamp Act, 1957 and to give effect to the proposals made in the Budget speech and matters connected therewith. Hence the Bill. (Obtained from LA Bill No. 13 of 1997.) XXV Amending Act 22 of 1997.- As at present the duty in respect of transaction of lease-cum-sale in connection with allotment of building sites with or without building thereon by certain authorities like the Bangalore Development Authority, Karnataka Housing Board etc., is payable on the market value equal to the security deposit and the average annual rent reserved in such agreement and in respect of instrument of conveyance effected by the above authorities, the duty is payable on the amount or value of consideration of such conveyance as setforth in the instrument. It is proposed to extend the above concession in respect of allotment of industrial sheds and plots by the Karnataka Industrial Areas Development Board, the Karnataka Small Scale Industrial Development Corporation, the Karnataka State Industrial Investment and Development Corporation KEONICS and allotment of land or site to the market functionaries by the Agricultural Produce Marketing Committees. Hence the Bill. (Obtained from LA Bill No. 11 of 1997.) XXVI Amending Act 5 of 1998.- To give effect to the proposals made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp At, 1957 and some consequential amendments are also proposed. Hence the Bill. (Published in Karnataka Gazette (Extraordinary) Part IV-2A dated 26th March 1998, as No. 347, at page. 7.) XXVII Amending Act 6 of 1999.- To give effect to the proposal made in the Budget Speech, it is considered necessary to amend the Karnataka Stamp Act, 1957 and some consequential amendments are also proposed. Hence the Bill. (Published in the Karnataka Gazette (Extraordinary) Part IV-2A dated 30th March 1999, as No. 288) 11 XXVIII Amending Act 24 of 1999.- It is considered necessary to amend the Karnataka Stamp Act, 1957 for more effective implementation of the provisions of this Act. It is proposed, for this purposes,-