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Indian Stamp (Punjab Amendment) Act, 2005
Punjab Act No. 11 of 2005
Pu854
Department of Legal and Legislative Affairs, Punjab
No. 16-Legislative/2005. - The following Act of the Legislature of the State of Punjab received the assent of the Governor of Punjab on the 12th May, 2005, and is hereby published for general information :- An Act further to amend the Indian Stamp Act, 1899, in its application to the State of Punjab. Be it enacted by the Legislature of the State of Punjab in the Fifty-sixth Year of the Republic of India as follows :- 1. Short title and commencement. - (1) This Act may be called the Indian Stamp (Punjab Amendment) Act, 2005. (2) It shall come into force at once.|
Object & Reasons6 |
"3-C. Instrument chargeable with additional duty. - (1) Every instrument mentioned in entry 23 of Schedule 1-A chargeable with duty under Section 3, shall, in addition to that duty, be also chargeable with such duty, as specified in Schedule 1-B, if such an instrument is executed in the area falling within the jurisdiction of a Municipality or a Corporation or within the area of five kilometres from the outer limit of the Municipality or Corporation, as the case may be, as may be specified by the Collector. This shall be applicable only to Municipal Corporation and Class-1 Municipalities.
(2) The additional duty with which any instrument is chargeable under sub-section (1), shall be paid and such payment shall be indicated on such instrument by means of stamp or stamp paper bearing the inscription "Social Security Fund" 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 duty 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 of those instruments.
Explanations. - For the purpose of this section, -(1) The expressions "Municipality" and "the Corporation" shall have the same meaning as assigned to them respectively, under the Punjab Municipal Act, 1911 and the Punjab Municipal Corporation Act, 1976.
(2) The expression "Social Security Fund" means a fund constituted under the Punjab Social Security Fund Regulations, 2005 for providing financial assistance to the needy, deserving and weaker sections of the society in the State of Punjab through the Welfare Schemes."
4. Insertion of new Schedule 1-B in Central Act 2 of 1899. - In the principal Act, after Schedule 1-A, the following Schedule shall be added, namely :-Schedule 1-B
(See Section 3-C)
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Conveyance as defined in Section 2(10), not being a transfer charged or exempted under entry No. 62 |
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Where conveyance amounts to sale of immovable property |
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1 |
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2 |
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Where the value or amount of the consideration for such conveyance as set forth therein does not exceed Rs. 50; |
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One rupee fifty paise |
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Where it exceeds Rs. 50, but does not exceed Rs. 100; |
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Three rupees |
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Where it exceeds Rs. 100, but does not exceed Rs. 200; |
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Six rupees |
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Where it exceeds Rs. 200, but does not exceed Rs. 300; |
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Nine rupees |
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Where it exceeds Rs. 300, but does not exceed Rs. 400; |
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Twelve rupees |
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Where it exceeds Rs. 400, but does not exceed Rs. 500; |
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Fifteen rupees |
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Where it exceeds Rs. 500, but does not exceed Rs. 600; |
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Eighteen rupees |
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Where it exceeds Rs. 600, but does not exceed Rs. 700; |
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Twenty-one rupees |
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Where it exceeds Rs. 700, but does not exceed Rs. 800; |
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Twenty-four rupees |
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Where it exceeds Rs. 800, but does not exceed Rs. 900; |
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Twenty-seven rupees |
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Where it exceeds Rs. 900, but does not exceed Rs. 1,000; |
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Thirty rupees |
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For every 500 or part thereof in excess of Rs. 1,000. |
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Fifteen rupees." |
