THE INDIAN STAMP ACT, 1899

ACT NO. 2 OF 1899 · Enacted [27th January, 1899.] · 96 sections

PRELIMINARY

Section 1.Short title, extent and commencement.

Section 2.Definitions.

STAMP- DUTIES — A.—Of the liability of instruments to Duty

Section 3.Instruments chargeable with duty.

Section 3A.[Repealed.].

Section 4.Several instruments used in single transaction of sale, mortgage or settlement.

Section 5.Instruments relating to several distinct matters.

Section 6.Instruments coming within several descriptions in Schedule I.

Section 7.Policies of sea-insurance.

Section 8.Bonds, debentures or other securities issued on loans under Act XI of 1879.

Section 8A.Securities dealt in depository not liable to stamp-duty.

Section 8B.Corporatisation and demutualisation schemes and related instruments not liable to duty.

Section 8C.Negotiable warehouse receipts not liable to stamp-duty.

Section 8D.Agreement or document for assignment of receivables not liable to stamp-duty.

Section 8E.Conversion of a branch of any bank into a wholly owned subsidiary of bank or transfer of shareholding of a bank to a holding company of bank not liable to duty.

Section 8F.Agreement or document for transfer or assignment of rights or interest in financial assets not liable to stamp-duty.

Section 9.Power to reduce, remit or compound duties.

STAMP- DUTIES — AA.— Of the liability of instruments of transaction in stock exchanges and depositories to duty

Section 9A.Instruments chargeable with duty for transactions in stock exchanges and depositories.

Section 9B.Instruments chargeable with duty for transactions otherwise than through stock exchanges and depositories.

STAMP- DUTIES — B.—Of Stamps and the mode of using them

Section 10.Duties how to be paid.

Section 11.Use of adhesive stamps.

Section 12.Cancellation of adhesive stamps.

Section 13.Instruments stamped with impressed stamps how to be written.

Section 14.Only one instrument to be on same stamps.

Section 15.Instrument written contrary to section 13 or 14 deemed unstamped.

Section 16.Denoting duty.

STAMP- DUTIES — C. —Of the time of stamping Instruments

Section 17.Instruments executed in India.

Section 18.Instruments other than bills and notes executed out of India.

Section 19.Bills and notes drawn out of India.

STAMP- DUTIES — D. —Of Valuations for Duty

Section 20.Conversion of amount expressed in foreign currencies.

Section 21.Stock and marketable securities how to be valued.

Section 22.Effect of statement of rate of exchange or average price.

Section 23.Instruments reserving interest.

Section 23A.Certain instruments connected with mortgages of marketable securities to be chargeable as agreements.

Section 24.How transfer in consideration of debt, or subject to future payment, etc., to be charged.

Section 25.Valuation in case of annuity, etc.

Section 26.Stamp where value of subject-matter is indeterminate.

Section 27.Facts affecting duty to be set forth in instrument.

Section 28.Direction as to duty in case of certain conveyances.

STAMP- DUTIES — E. —Duty by whom payable

Section 29.Duties by whom payable.

Section 30.Obligation to give receipt in certain cases.

ADJUDICATION AS TO STAMPS

Section 31.Adjudication as to proper stamp.

Section 32.Certificate by Collector.

INSTRUMENTS NOT DULY STAMPED

Section 33.Examination and impounding of instruments.

Section 34.Special provision as to unstamped receipts.

Section 35.Instruments not duly stamped inadmissible in evidence, etc.

Section 36.Admission of instrument where not to be questioned.

Section 37.Admission of improperly stamped instruments.

Section 38.Instruments impounded, how dealt with.

Section 39.Collector's power to refund penalty paid under section 38, sub-section (1).

Section 40.Collector's power to stamp instruments impounded.

Section 41.Instruments unduly stamped by accident.

Section 42.Endorsement of instruments on which duty has been paid under section 35, 40 or 41.

Section 43.Prosecution for offence against Stamp-law.

Section 44.Persons paying duty or penalty may recover same in certain cases.

Section 45.Power to Revenue-authority to refund penalty or excess duty in certain cases.

Section 46.Non-liability for loss of instruments sent under section 38.

Section 47.Power of payer to stamp billsand promissory notes received by him unstamped.

Section 48.Recovery of duties and penalties.

ALLOWANCES FOR STAMPS IN CERTAIN CASES

Section 49.Allowance for spoiled stamps.

Section 50.Application for relief under section 49 when to be made.

Section 51.Allowance in case of printed forms no longer required by Corporations.

Section 52.Allowance for misused stamps.

Section 53.Allowance for spoiled or misused stamps how to be made.

Section 54.Allowance for stamps not required for use.

Section 54A.Allowances for stamps in denominations of annas.

Section 54B.Allowances for Refugee Relief stamps.

Section 55.Allowance on renewal of certain debentures.

REFERENCE AND REVISION

Section 56.Control of, and statement of case to, Chief Controlling Revenue-authority.

Section 57.Statement of case by Chief-Controlling Revenue-authority to High Court.

Section 58.Power of High Court to call for further particulars as to case stated.

Section 59.Procedure in disposing of case stated.

Section 60.Statement of case by other Courts to High Court.

Section 61.Revision of certain decisions of Courts regarding the sufficiency of stamps.

CRIMINAL OFFENCES AND PROCEDURE

Section 62.Penalty for executing, etc., instrument not duly stamped.

Section 62A.Penalty for failure to comply with provisions of section 9A.

Section 63.Penalty for failure to cancel adhesive stamp.

Section 64.Penalty for omission to comply with provisions of section 27.

Section 65.Penalty for refusal to give receipt, and for devices to evade duty on receipts.

Section 66.Penalty for not making out policy or making one not duly stamped.

Section 67.Penalty for not drawing full number of bills or marine policies purporting to be in sets.

Section 68.Penalty for post-dating bills, and for other devices to defraud the revenue.

Section 69.Penalty for breach of rule relating to sale of stamps and for unauthorised sale.

Section 70.Institution and conduct of prosecutions.

Section 71.Jurisdiction of Magistrates.

Section 72.Place of trial.

SUPPLEMENTAL PROVISIONS

Section 73.Books, etc., to be open to inspection.

Section 73A.Power of Central Government to make rules.

Section 73B.Power to issue directions and to authorise certain authorities to issue instructions, etc.

Section 74.Powers to make rules relating to sale of stamps.

Section 75.Powers to make rules generally to carry out Act.

Section 76.Publication of rules.

Section 76A.Delegation of certain powers.

Section 77.Saving as to court-fees.

Section 77A.Saving as to certain stamps.

Section 78.Act to be translated, and sold cheaply.

Section 79.[Repealed.].