Amendment status not verified — confirm the current text below against the official source.
Duty on transfer of property within block,-The duty imposed under the Indian Stamp Act, 1899 (No, 2 of 1899), on instrument relating to sale, gift [or mortgage) of immovable property situated within the block be increased by one percent on the value of such property or in the case of mortgage on the amount secured by the instrument: I[Provided that such extra stamp duty leviedin respeci of mortgage shall not exceed the amount of stamp duty thereon; Provided further that no extra stamp duty is livable in respect of ally instrumell1: exempted from stamp duty under the Indian stamp Act, 1899 or the rules made thereunder.] COMMENTARY Extra Stamp Duty levied in respect of mortgage shall not exceed the amount of Stamp Duty thereon, Mis, APL International Ltd, v, State of . M,P" AIR 2008 MP 254(DB.) 2[76. District Panchayat" Raj Flind.-(I) There shall be constituted and operated in such manner as may be prescribed by the State Government, a separate fund at the district level by the name "District Panchayat Raj Fund" (hereinafter referred to as the "said Fund"). 3[(2) The proceeds of development tax under sub-section (3) of' Section. 77 along with such other taxes, duties, tolls, fees and other receipts as may be specified by the State Government shall. after deducting the collection charges, as may be determined by the State Government from time to time, be credlted.jnto the said fund.] , (3) The proceeds of (he extra stamp duty under section 75 shall .first be credited to (he Consolidated Fund of the State in such manner as may be prescribed and the State Government shall at the commen- cement of each financial year, ifthe LegislativeAssembly by appropria- tlort made by law 111 this behalf so provides,. withdraw from the Consolidated Fund of the Stale an amount equivalertt to the proceeds I Added by MP 2 of 1997 [7-)-19"7J, 2 Subs, by MP 2 of 1997 [1-10.1998[, 3 Subs, by M,P.Act23 of 2001 (1O-1O-2001),