THE KARNATAKA STAMP ACT 1957

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492 Stamp 1957 KAR ACT 34,C OF THE TIME OF STAMPING INSTRUMENTS. 17 Instruments executed in the State of Karnataka,18 Instruments executed out of India. 19 Payment of duty on certain instruments liable to increased duty in. the State of Karnataka,D OF VALUATIONS FOR DUTY, 20 Conversion of amount expressed in foreign currencies. 21 Stock and marketable securities how to be valued. 22 Effect of statement of rate of exchange or average price. 23 Instruments reserving interest, 24 Certain instruments connected with mortgages of marketable. securities to be chargeable as agreements, 25 How transfer in consideration of debt or subject to future etc to be.
26 Valuation in case of annuity etc, 27 Stamp where value of subject matter is indeterminate. 28 Facts affecting duty to be set forth in instrument. 28A Omitted,28B Omitted, 29 Direction as to duty in case of certain conveyances. E DUTY BY WHOM PAYABLE,30 Duties by whom payable,CHAPTER III. ADJUDICATION AS TO STAMPS,31 Adjudication as to proper stamp. 32 Certificate by Deputy Commissioner,CHAPTER IV,INSTRUMENTS NOT DULY STAMPED.
33 Examination and impounding of instruments, 34 Instruments not duly stamped inadmissible in evidence etc. 35 Admission of instrument where not to be questioned. 36 Admission of improperly stamped instruments,37 Instruments impounded how dealt with. 1957 KAR ACT 34 Stamp 493, 38 Deputy Commissioner s power to refund penalty paid under sub. section 1 of section 37, 39 Deputy Commissioner s power to stamp instruments impounded. 40 Instruments unduly stamped by accident, 41 Endorsement of instruments on which duty has been paid under.
section 34 39 or 40,42 Prosecution for offence against stamp law. 43 Persons paying duty or penalty may recover same in certain cases. 44 Power to Revenue authority to refund penalty or excess duty in. certain cases, 45 Non liability for loss of instruments sent under section 37. 45A Instrument of conveyance etc undervalued how to be dealt with. 45B Constitution of Central Valuation Committee,46 Recovery of duties and penalties. 46A Recovery of stamp duty not levied or short levied. 46B Duties penalties etc to be certified,ALLOWANCES FOR STAMPS IN CERTAIN CASES. 47 Allowance for spoiled stamps, 48 Application for relief under section 47 when to be made.
49 Allowance in case of printed forms no longer required by. Corporations,50 Allowance for misused stamps, 51 Allowance for spoiled or misused stamps how to be made. 52 Allowance for stamps not required for use,52A Power of State Government to grant relief. CHAPTER VI,REFERENCE AND REVISION, 53 Control of and statement of case to Chief Controlling Revenue. 53A Revision of order passed by Deputy Commissioner or Authorised. 54 Statement of case by Chief Controlling Revenue Authority to High. 494 Stamp 1957 KAR ACT 34, 55 Power of High Court to call for further particulars as to case stated. 56 Procedure in disposing of case stated, 57 Statement of case by other Courts to High Court.
58 Revision of certain decisions of Courts regarding the sufficiency of. CHAPTER VII,CRIMINAL OFFENCES AND PROCEDURE, 59 Penalty for executing etc instrument not duly stamped. 59A Penalty for making false declaration in clearance list. 59B Penalty for failure to produce documents,60 Penalty for failure to cancel adhesive stamp. 61 Penalty for omission to comply with provisions of section 28. 62 Penalty for devices to defraud the revenue, 63 Penalty for breach of rule relating to sale of stamps and for. unauthorised sale,63A Penalty for contravention of other provisions. 64 Institution and conduct of prosecutions,65 Jurisdiction of Magistrates.
66 Place of trial,CHAPTER VIII,SUPPLEMENTAL PROVISIONS. 67 Books etc to be open to inspection, 67A Procedure of Chief Controlling Revenue Authority and the Deputy. Commissioner and rectification of mistakes, 67B Power to enter premises and inspect certain documents. 68 Powers to make rules,69 Saving as to Court Fees. 70 Act to be translated and sold cheaply,71 Repeal and savings.
72 Application of Indian Stamp Act 1899,1957 KAR ACT 34 Stamp 495. STATEMENTS OF OBJECTS AND REASONS, Act 34 of 1957 Different rates on stamp duty are in force in the various. areas of the State As it is very desirable to have the same rates of stamp. duty in all the areas in all areas of new State Government have decided to. undertake legislation to achieve this object Hence this Bill. The Bill makes provision for the levy of stamp duty on instruments at the. rates in force the Madras Area, Obtained from Notification L A No 5848 dated 20 6 1957. Amending Act 8 of 1958 The Government of India have decided that. with effect from 1st April 1958 the rates of Stamp Duty should be expressed. in decimal coinage The new rates of non postal stamps decided upon by. the Government of India are in multiples of 5 Naye Paise It has become. necessary therefore to amend the Mysore Stamp Act 1957 to adapt the. rates of Stamp Duty decided upon by the Government of India The Bill is. intended to give effect to the new rates of non postal stamps in decimal. coinage proposed to be brought into force from 1st April 1958. Published in the Gazette Extraordinary Part IV 2A dated 4 3 1958 as. Amending Act 29 of 1962 The State Government are committed to. raise a sum of Rs 42 crores by additional taxation In order to meet the. commitments of the schemes in the Second Five Year Plan and. implementation of schemes in the Third Five Year Plan the resources of the. State have to be augmented It is therefore proposed to increase the rates. of stamp duty by fifty per cent in instruments in respect of which the State. legislature is competent to levy stamp duty, With the passing of the Advocates Act 1961 the roll of Advocates is. now maintained by the State Bar Council and not by the High Court As. there is no instrument for entry on roll it is proposed to levy stamp duty on. the certificate of enrolment issued by the Bar Council The Law Ministers. Conference held at Srinagar in 1960 has recommended that the total fee. payable by a Advocate on enrolment should not inclusive of the fee payable. to the Bar Council under the Advocate Act exceed Rs 500 Since a fee of. 496 Stamp 1957 KAR ACT 34, Rs 250 is payable to the Bar Council it is proposed to fix the Stamp duty on.
the certificate of enrolment at Rs 250, Opportunity has been taken to make certain other provision found. necessary The more important of these amendments are indicated below. The definition of instrument of partition is proposed to be amplified to. cover documents in which the terms of partition effected are recorded. Sub section 1 of section 53 of the Act does not empower the Chief. Controlling Revenue Authority to exercise control over the Deputy. Commissioner in cases other than those falling under Chapter IV and V and. proviso a to section 27 In the interests of revenue it is necessary to. exercise control over the Deputy Commissioner in other cases also Sub. section 1 of section 53 is therefore proposed to be amended. In respect of allowances for stamps definite periods of limitation and the. circumstances in which allowance is permissible have been laid down in. Chapter V of the Act In order to avoid hardship under the Indian Stamp Act. 1899 orders for refund of amounts paid for stamp duty were being made by. Government in appropriate cases without any bar of limitation on the basis. of certain Resolutions of the Government of India It is considered desirable. to take necessary power to issue such orders The new section 52A has. therefore been proposed In order to enable the Chief Controlling Revenue. Authority to grant relief under section 44 beyond the period of limitation in. appropriate case that section is also proposed to be amended. In a recent decision of the Supreme Court Board of Revenue Vs. Vidyawati A I R 1962 S C 1217 it has been held that while acting under. section 56 2 of the Indian Stamp Act 1899 which corresponds to section. 53 2 of the Mysore Stamps Act 1957 the Board of Revenue should give. the party concerned a reasonable opportunity to be herd in accordance with. the principles of natural justice As the principles of natural justice have to. be followed by the Deputy Commissioner and the Chief Controlling Revenue. Authority it is proposed to insert a suitable provision in the Act It is also. considered necessary to make specific provision for rectification of mistakes. by the different authorities The new section 67A has accordingly been. Published in the Mysore Gazette Extraordinary Part IV 2A dated 27 8. 1962 as No 170 at page 25 26,1957 KAR ACT 34 Stamp 497. Amending Act 17 of 1966 In order to ensure the collection of proper. stamp duty in the case of awards gifts and settlements it is considered. necessary to charge duty on such instruments on the value of properties. instead of on the value as set forth in the instruments It is also considered. necessary to amplify the different classes of instruments falling under. Articles 5 and 37 and fix different rates of duty on such instruments It is also. proposed to amend sections 3 and 28 and insert new sections 63A and. Hence the Bill, Published in the Karnataka Gazette Extraordinary Part IV 2A dated. 26 03 1966 as No 58 at page 8, Amending Act 17 of 1971 In order to raise additional resources to be. utilised exclusively for the relief of Bangla Desh refugees the Government. of Mysore has proposed to levy additional stamp duty at the flat rate of ten. paise on every instrument chargeable with duty under the Mysore Stamp. Act 1957 The present measure is being enacted to give effect to the said. 2 The Committee constituted under the proviso to sub section 2 of. section 3 of the Mysore State Legislature Delegation of Powers Act 1971. 23 of 1971 has been consulted before enactment of this measure as a. President s Act,Obtained from President Act 17 of 1971.
Amending Act 12 of 1972 Under article 16 of the Schedule appended. to the Mysore Stamp Act 1957 the stamp duty payable on a share. certificate is 30 naye paise Section 11 of the Mysore Stamp Act 1957 does. not permit the use of adhesive stamps for payment of the stamp duty. exceeding 15 naye paise Thousands of share certificates have to be. therefore submitted by the Companies to the Superintendent of Stamps and. to the Government Press for getting the duty paid embossed on each. certificate As this procedure is found inconvenient Government intends to. amend the Act to enable the use of adhesive stamps upto 30 paise Vide. Notification No 7799 LA dated 19 11 1970, Published in Karnataka Gazette PART IV 2 A dated 26 11 1970 at. 498 Stamp 1957 KAR ACT 34, Amending Act 4 of 1973 President s Act 14 of 1971 16 of 1971 17 of. 1971 and 18 of 1971 had been enacted to raise additional resources for the. relief of Bangla Desh Refugees They expire on 24th March 1973. It is proposed that while the additional levies for the relief of Bangla. Desh Refugees may cease the levies may be retained till 31st March 1974. to raise additional resources to meet the cost of People s Housing. Programme to be undertaken by the State Government. Hence this Bill,Obtained from L A Bill No 16 of 1973. Amending Act 17 of 1974 It is proposed to raise the rates of Stamp. Duty on conveyance and mortgage deeds in order to augment the revenue. of the State,Hence the Bill, Published in the Karnataka Gazette Extraordinary dated 30th March. 1974 PART IV 2A as No 632 at page 4, Amending Act 12 of 1975 It has been observed that there is wide.
spread under valuation of properties by persons who buy and sell properties. in urban areas A pilot study of 1052 cases carried out in Bangalore City. showed that in nearly 70 per cent of the cases the valuation mentioned in. the sale deed was less than half the market value computed objectively by. the survey authorities This means evasion of stamp duty as well as. avoidance of registration charges There is consequent loss of revenue to. the State under both counts The object of the Bill is to enable the. Government to recover the right amount of stamp duty wherever under. valuation of property is noticed at the time of registration of the properties. Some consequential amendments are also being made For example the. present schedule of stamp duty rates is based upon the amount of. consideration mentioned in the document This basis is being changed to. the market value Likewise some other consequential changes have also. been proposed in the Bill, To begin with the new measure will be given effect to in the Cities having. a population of more than one lakh and the Government is taking the power. to extend it to other urban areas in due course, Published in Karnataka Gazette Extraordinary dated 10th April 1975. PART IV 2 A as No 1049 at page 7,1957 KAR ACT 34 Stamp 499. Amending Act 37 of 1976 In order to augment the revenues of the. State it is proposed to amend the Karnataka Stamp Act 1957 by. increasing the rate of Stamp Duty on conveyances and other instruments. chargeable with the same duty as a conveyance,Hence this Bill. Published in Karnataka Gazette Extraordinary dated 27th March 1976. PART IV 2 A as No 1729 at page 6, Amending Act 9 of 1979 Houses and sites are normally allotted by the.
1957 KAR ACT 34 Stamp 491 THE KARNATAKA STAMP ACT 1957 ARRANGEMENT OF SECTIONS Statement of Objects and Reasons Sections CHAPTER I PRELIMINARY

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