Amendment status not verified — confirm the current text below against the official source.
In the Kerala Stamp Act, 1959 (17 of 1959),-- (1) in section 2, the existing clause (ff) shall be re-lettered as clause (fa) and after clause (fa) as so relettered, the following clauses shall be inserted, namely:-- "(fb) "family" means father, mother, grandfather, grandmother, husband, wife, son, adopted son, daughter, adopted daughter, grandchildren, brother and sister; (fc) "flat" whether called apartment or by any other name, means apart of any property, together with its undivided interest in the land/common areas/facilities, intended for any type of independent use, including one or more rooms or enclosed spaces located on one or more floors or any part or parts thereof, in a multi-storied building to be used for residence or office or for the practice of any profession, or for carrying on any occupation, trade or business or for such other type of independent use, as may be described, in the instrument, and with a direct exit to a public street, road or highway, or to a common area leading to such street, road or highway, and includes any garage or room (whether or not adjacent to the multi-storied building, in which such flat is located) provided by the promoter for use by the owner of such flat for parking any vehicle or for the residence of any domestic aide employed in such flat;"; (2) after section 28B, the following section shall be inserted, namely:-- "28C. Valuation of buildings other than Flats/Apartments.-- Notwithstanding anything contained in this Act or the rules made thereunder, an instrument transferring land including a building other than flat/apartment, chargeable with ad valorem duty, shall fully and truly set forth the value of building therein and for this purpose the valuation of building shall be determined on the basis of the cost inflation index under section 48 of the Income Tax Act, 1961 (Central Act 43 of 1961), in such manner as may be prescribed by rules made under this Act;"; (3) in section 45B, to sub-section (5), the following proviso shall be added, namely:-- "Provided that no such appeal shall be entertained, unless an amount equal to twenty-five per cent of the deficient amount of duty determined and payable under sub-section (2) or sub-section (3), as the case may be, is deposited by the aggrieved person in such a manner as may be prescribed by rules made under this act."; (4) in THE SCHEDULE,-- (a) in serial number 5, clause (e) shall be re-lettered as clause (g) and before clause (g) as so re-lettered, the following clauses shall be inserted, namely:-- "(e) If relating to advertisement on mass media, made for promotion of any product or programme or event with an intention to make profit or business out of it or conferring exclusive rights of telecasting, broadcasting or exhibition of an event or a film. Rupees 500 per contract (f) If relating to public works or service level agreements One rupee for every rupees 1000 or part thereof on the amount agreed in the contract, subject to a minimum of rupees 200 and a maximum of rupees one lakh”; (b) in serial number 6, after clause (2), the following clause shall be inserted, namely:-- "(3) Release, discharge or cancellation of any instrument specified under clause (1) or clause (2) The same duty with which such agreement [clause (1) or (2), as the case may be] is chargeable"; (c) for serial number 31, and entries against it in columns (2) and (3), the following serial number and entries shall, respectively, be substituted, namely:-- "31. Gift- instrument of, not being a Settlement or will or transfer, (a) where the gift is in favour of any of the members of the family and/ or legal heirs of the deceased family member Two rupees for every rupees 1000 or part thereof of the fair value of the land and the value of the other properties set forth in the instrument or the value of all properties set forth in the instrument, whichever is higher, subject to a minimum of rupees 1000. (b) In any other case The same duty as a conveyance (No. 21 or 22 as the case may be)"; (d) in serial number 33, the existing Explanation shall be numbered as Explanation I and after Explanation I as so numbered, the following Explanation shall be inserted, namely:-- "Explanation II.-- Rent paid in advance shall be deemed to be premium or money advanced within the meaning of this serial number, unless it is specifically provided in the lease agreement that the rent paid in advance will be set off towards the last instalment or instalments of rent."; (e) in serial number 42,-- (i) for the entries in columns (2) and (3), the following entries shall respectively, be substituted, namely:-- "Partition-Instrument of [as defined by section 2(k)]: (a) Where the partition is among all or any of the members of the family and legal heirs of the deceased family member, if any Fifteen rupees for every rupees 10,000 or part thereof of the fair value of the separated share or shares of land and the value of other properties in such separated share or shares set forth in the instrument or of the value of all the properties of the separated share or shares as set forth in the instrument, whichever is higher, subject to a minimum of rupees 1000. (b) in any other case Six rupees for every rupees 100 or part thereof of the amount of the value or fair value of the separated share or shares of the property, whichever is higher."; (ii) existing Explanation shall be omitted; (f) in serial number 44,-- (i) in clause (c), for the entry in column (3), the following entry shall be substituted, namely:-- "Six hundred rupees" (ii) in clause (g), for the entry in column (3), the following entry shall be substituted, namely:-- "Six hundred rupees" (g) for serial number 48, and the entries against it in columns (2) and (3), the following serial number and entries shall, respectively, be substituted, namely:-- "48. Release that is to say, any instrument (not being such a release as is provided by section 24), whereby a person renounces a claim upon another person or against any specified property (a) When such release operates in favour of any of the members of the family and/ or legal heirs of the deceased family member Two rupees for every rupees 1000 or part thereof of the amount of the fair value of land and the values of other properties or claims of which the right is relinquished in proportion to the right relinquished or value of all the properties or claims of which right is relinquished in proportion to the right relinquished or consideration for the release, whichever is higher, subject to a minimum of rupees 1000. (b) in any other case The same duty as a conveyance (No. 21 or 22 as the case may be) for such amount or value of the property or claim or fair value of the land and the values of other properties of which the right is relinquished in proportion to the right relinquished or consideration for the release, whichever is higher"; (h) in serial number 51, for clause A and the entries against it in columns (2) and (3), the following clause and entries shall, respectively, be substituted, namely:-- "A. instrument of (including a deed of dower), (a) Where the settlement is in favour of any of the members of family and/or legal heirs of the deceased family member Two rupees for every rupees 1000 or part thereof of the fair value of the land and the value of other properties set forth in the instrument or the value of all properties set forth in such instrument, whichever is higher, subject to a minimum of rupees 1000. (b) in any other case The same duty as Bottomry Bond (No. 14) for a sum equal to the amount or value of the property settled as set forth in such instrument or fair value of land and value of other properties, whichever is higher."; (i) for serial number 54, and the entries against it in columns (2) and (3), the following serial number and entries shall, respectively, be substituted, namely:-- "54. Surrender of lease -- (a) when lease is surrendered before the expiry of lease period One thousand rupees (b) in any other case Five hundred rupees"