Amendment status not verified — confirm the current text below against the official source.
- In exercise of the powers conferred by sub-clause (b) of clause 9 of Indian Stamp Act,1899(II of 1899), the state Goyemment hereby Appoints all Deputy Inspector General of registration as the Collector for the purpose of the said Act Within the limits of their respective jurisdiction. [published in M.P. Rajpatra (Asadharan) dated 12-9-94 page 1565.] (10) “Conveyance” includes a conveyance on sale and every instrument by Which proper, Whether movable or immovable, is transferred inter Viyos and Which is not otherwise specifically provided for by schedule I[ or by schedule l-A, as the case may be;] (1 l) “Duly Stamped”, as applied to an instrument, means that the instrument bears an adhesive or impressed stamp of not less than the proper amount and that such stamp has been affixed or used in accordance With the law for the time being in force in India; (12) “Executed” and “execution” used With reference to instrument, means “signed’ and “signature”; (l2-A) omitted by AD 1950. (13) “ Impressed Stamp” includes labels affixed and impressed by the proper officer; and Stamps embossed or engraved on stamped paper; 2[(13-A)” India” means the territory of India excluding the State of Jammu and Kashmir;] (14) “ Instrument” includes every document by Which any right or liability is, or purports to be, created, transferred, limited, extended, extinguished or recorded; 3[(15) “ Instrument of Partition” means any instrument whereby co-owners of any property divide pr agree to divide such property in severalty, and also mcludes- a final order for effecting a partition passed by any revenue authority or any civil court; an award by an arbitrator directing a partition; and When any partition is effected Without executing any such instrument, any instrument or instrument, signed by the co-owners and recording, Whether by way of declaration of such partition or otherwise , the terms of such partition amongst the co-owners;] (l6) “ Lease” means a lease of immovable property and includes also- a patta; a kabuliyat or other undertaking in writing, not being a counterpart of lease, to cultivate, occupy or pay or deliver rent for, immovable property; any instrument by Which tolls of any description are let; any writing on an application for a lease intended to signify that the application is granted; NOTES Instrument of agreement for toll tax is lease deed under section 2 (l 6) (c) of the act Hence Stamped duty is leViable accordingly. A.I.R.1992 ALLD.181. (16-A) “Marketable security” means a security of such a description as to be capable ofbeing sold in any stock market in India or in the United kingdom; (l7) “ Mortgage- deed” includes every instrument whereby, for the purpose of securing money advanced, or to be advanced, by way of loan, or an existing or future debt, or the performance of an engagement. One person transfers, or creates, to, or in favor of, another, a right over or in respect of specified property; (18) “Paper” includes vellum, parchment or any other material on Which an instrument may be written; (19) “Policy of insurance” includes- (a) any instrument by Which one person, in consideration of a premium engages to identify another against loss, damage or liability arising from an unknown or contingent event; a life policy, and any policy insuring any person against accident or sickness, and any other personal insurance; 1[(19-A) “ Policy of group insurance” means any instrument covering not less than fifty or such smaller number as the Central Goyemment may approve, either generally or With reference to any particular case, by Which an insurer, in consideration of premium paid by an employer or by an employer and his employees jointly, engages to cover, With or Without medical examination and for the sole benefits of person other than the employer, the lives of all the employees or of any class of them, determined based upon a plan Which precludes mdiyidual selection;] (20) ‘Policy of sea-msurance” or “sea policy”- means any insurance made upon any ship or vessel (Whether for marine or inland navigation), or upon the machinery, tackle or furniture of any ship or vessel, or upon any goods, merchandise or property of any description Whatever on board of any ship or vessel or upon the freight of , or any other interest Which may be lawfully or upon the freight of or any other interest Which may be lawfully insured in or relating to any ship or vessel ;and includes any insurance of goods, merchandise or property for any transit Which includes, not only a sea risk Within the meaning of Clause(a), but also any other risk incidental to the transit insured from the commencement of the transit to the ultimate destination covered by the insurance; Where any person, in consideration of any sum of money paid or to be paid for additional freight or otherwise, agrees to take upon himself any risk attending goods, merchandise or property of any description Whatever While on board of any ship or vessel, or engages to indemnify the owner of any such goods, merchandise or property from any risk, loss or damages, such agreement or engagement shall be deemed to be a contract for sea-msurance; (21) “Power-of—attomey” Includes any instrument (not chargeable With a fee under the law relating to court—fees for the time being in force) empowering a specified person to act for and in the name of the person executing it; (22) “Promissory note” means a promissory note as define by the Negotiable Instrument Act, 1881(26 of 1881); It also include a note promising the payment of any sum of money out of any particular fund Which may or may not be available, or upon any condition or contingency Which may or may not be performed or happen; Notes Acknowledgment of loan, Which is accompanied by promise to pay. It is not a promissory note.1961 jlj 851:1961 MPLJ 169. (23) “Receipt” includes any note, memorandum or writing- Where by any money ,or any bill of exchange, cheque or promissory note is acknowledged to have been reciVed, or Where by any other movable property is acknowledge to have been reciVed in satisfaction of a debt, or Where by any debt or demand or any part of debt or demand is acknowledge to have been satisfied or discharge, or Which signifies or imports any such acknowledgement, and Whether the same is or is not signed With the name of any person; (24) “Settlement” means any non-testamentary disposition, in writing of movable or immovable property made- In consideration of marriage; For the purpose of distributing property of the settlor among his family or those for Whom he provide, or for the purpose of providing for some person dependent on him; or For any religious or charitable purpose; And includes an agreement in writing to make such a disposition and, where any such disposition has been made in writing, any instrument recording, where by way of declaration of trust or otherwise, the terms of any such disposition; (25) “Soldier’ includes any person below the rank of non-commissioned officer who is enrolled under the Indian Army Act, 191 1(no.8 of 191 1). (26) Omitted by Central Act 43 of 1955 CHAPTER II Stamp-duties A- ofthe liability ofinstrument to duty 3.1nstrument chargeable with duty.— Subject to the provision of this Act and the exemptions contained is Schedule I, the following instrument shall be chargeable with duty of the amount indicated in the schedule as the proper duty therefore, respectively, that is to say- (a) Every instrument mentioned in that schedule which, not having been previously executed by any person, is executed in India on or after the first day of july 1899; (b) Every person bill of exchange payable otherwise than on demand or promissory not drawn or made out of on or after that day and accepted or paid, or presented for acceptance or payment, or endorsed, transferred or otherwise negotiable in India; and (c) every instrument (other than a bill of exchange or promissory note) mentioned in that schedule, which not having been previously executed by any property situate, or to any matter or thing done, or to be done, in India and is reciVed in India: 1[Provided that, except as otherwise expressly provided in this Act, and notwithstanding anything contained in clause (a), Clause(c) of this section or in schedule I, the amount indicated in schedule, be the duty chargeable on the instruments mentioned in clauses (aa) and (bb) of this proviso, as the proper duty thereof, respectively, - (aa) every instrument, mentioned in schedule I—A as chargeable with duty under that schedule, which not having been previously executed by any person, is executed in Madhay Pradesh on or after the commencement of the Central Provinces and Berar Indian stamp (Amendment) Act, 1939; and (bb) every instrument mentioned in Schedule I—A as chargeable with duty under that schedule, which not having been previously executed by any person, is executed out ofMadhya Pradesh on or after the commencement of the Central Provinces and Berar Indian Stamp (Amendment) Act, 1939 and relates to any property situated or to any matter or thing done or to be done, in Madhya Pradesh and is recived in Madhya Pradesh : Provided 1[further] that no duty shall be chargeable in respect of- (1) any instrument executed by, or on behalf of, or in favour of, the Government in cases where, but for this exemption, the Government would be liable to pay the duty chargeable in respect of such instrument; (2) any instrument for the sale, transfer or other disposition, either absolutely, or by way of mortgage or otherwise, of any ship or vessel, or any part, interest, share or property of or in any ship or vessel registered under the Merchant Shipping Act, 1894 or under Act 19 of 1838, or the Indian Registration of Ships Act, 1841 as amended by subsequent Acts. 2 [3 -A. Instrument chargeable with addition duty- (1) Every instrument chargeable with duty under seclion3, read with schedule I-A shall in addition to such duty, be chargeable with a duty of ten paise (2) the additional duty with. (2) The additional duty with which any instrument is chargeable under subsection (1) shall be paid and such payment shall be indicated on such instrument by means of adhesive stamps bearing the words [additional duty] whether with or without any other design, picture or inscription. (3) Except as otherwise provided in sub-section (2), the provisions of this Act shall, so far as may be, apply in relation to the additional duties chargeable under sub-section (1) in respect of the instruments referred to therein as they apply in relation to the duty chargeable under section 3 in respect ofthose instruments.