Amendment status not verified — confirm the current text below against the official source.
Transfer.—(Whether with or without consideration), 1[(a)of debentures, being marketable Fifty paise for every rupees one securities, whether the debenture is, hundred or part thereof subject to liable to duty or not a maximum of one thousand rupees for a consideration equal to the face value of the debenture.]1 (b) of any interest secured by a bond, mortgage- deed or policy of insurance,— (i) if the duty on such bond, The duty with which such bond, mortgage-deed or policy does not - or policy of insurance 89 mortgage deed; is chargeable. exceed twenty-two rupees and fifty paise (ii) in any other case 6[2[two hundred rupees]2]6 (c) of any property under section 25 of the Administrator Generals Act, 1963 6[2[two hundred rupees]2]6 3[(d) of any trust property from one trust to another trust or from Trust to trustee or beneficiary, or from trustee to trust or trustee or beneficiary, as the case may be. The same duty as a conveyance [under Article 20 (1)] on the market value of the property (which is the subject matter of such transfer) or consideration for such transfer, whichever is higher. Provided that for the public religious 4[or]4 charitable trusts, the duty for such transfer shall be rupees one thousand.]3 5[Explanation: For the purpose of this clause ―Trust‖ means ―a trust shall include any entity that has been registered under the provisions of section 12AA or 12AB of the Income Tax Act 1961 (Central Act No 43 of 1961).]5 EXEMPTIONS Transfers by endorsement (a) of a bill of exchange, cheque or promissory note (b) of a bill of lading, delivery order, warrant for goods or other mercantile document of title to goods. (c)of a policy of insurance (d) of securities of the Central Government or of State Government(See also section 8)