Indian Stamp Act 1899 (All Sections)

Indian Stamp Act 1899

ACT NO. 2 OF 1899

[27th January, 1899.]

An Act to Consolidate and amend the law relating to Stamps.

WHEREAS it is expedient to consolidate and amend the law relating to Stamps. It is hereby enacted as follows:–

Chapter I – Preliminary

Section 1 Indian Stamp Act 1899Short title, extent and commencement.

Section 2 Indian Stamp Act 1899Definitions.

Chapter II – Stamp Duties

A.—Of the liability of instruments to duty

Section 3 Indian Stamp Act 1899Instruments chargeable with duty.

Section 3A Indian Stamp Act 1899 – [Repealed.].

Section 4 Indian Stamp Act 1899 Several instruments used in single transaction of sale, mortgage or settlement.

Section 5 Indian Stamp Act 1899Instruments relating to several distinct matters.

Section 6 Indian Stamp Act 1899Instruments coming within several descriptions in Schedule I.

Section 7 Indian Stamp Act 1899Policies of sea-insurance.

Section 8 Indian Stamp Act 1899Bonds, debentures or other securities issued on loans under Act XI of 1879.

Section 8A Indian Stamp Act 1899Securities dealt in depository not liable to stamp-duty.

Section 8B Indian Stamp Act 1899Corporatisation and demutualisation schemes and related instruments not liable to duty.

Section 8C Indian Stamp Act 1899Negotiable warehouse receipts not liable to stamp duty.

Section 8D Indian Stamp Act 1899Agreement or document for assignment of receivables not liable to stamp duty.

Section 8E Indian Stamp Act 1899Conversion 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 Indian Stamp Act 1899Agreement or document for transfer or assignment of rights or interest in financial assets not liable to stamp duty.

Section 8G Indian Stamp Act 1899Strategic sale, disinvestment, etc., of immovable property by Government company not liable to stamp duty.

Section 9 Indian Stamp Act 1899Power to reduce, remit or compound duties.

B.—Of stamps and the mode of using them

Section 9A Indian Stamp Act 1899Instruments chargeable with duty for transactions in stock exchanges and depositories.

Section 9B Indian Stamp Act 1899Instruments chargeable with duty for transactions otherwise than through stock exchanges and depositories.

Section 10 Indian Stamp Act 1899Duties how to be paid.

Section 11 Indian Stamp Act 1899Use of adhesive stamps.

Section 12 Indian Stamp Act 1899Cancellation of adhesive stamps.

Section 13 Indian Stamp Act 1899Instruments stamped with impressed stamps how to be written.

Section 14 Indian Stamp Act 1899Only one instrument to be on same stamps.

Section 15 Indian Stamp Act 1899Instrument written contrary to section 13 or 14 deemed unstamped.

Section 16 Indian Stamp Act 1899Denoting duty.

B.—Of stamps and the mode of using them

Section 17 Indian Stamp Act 1899Instrument executed in India.

Section 18 Indian Stamp Act 1899Instruments other than bills and notes executed out of India.

Section 19 Indian Stamp Act 1899 Bills and notes drawn out of India.

D. —Of valuations for duty

Section 20 Indian Stamp Act 1899Conversion of amount expressed in foreign currencies.

Section 21 Indian Stamp Act 1899Stock and marketable securities how to be valued.

Section 22 Indian Stamp Act 1899 Effect of statement of rate of exchange or average price.

Section 23 Indian Stamp Act 1899 Instruments reserving interest.

Section 23A Indian Stamp Act 1899Certain instruments connected with mortgages of marketable securities to be chargeable as agreements

Section 24 Indian Stamp Act 1899How transfer in consideration of debt, or subject to future payment, etc., to be charged.

Section 25 Indian Stamp Act 1899Valuation in case of annuity, etc.

Section 26 Indian Stamp Act 1899Stamp where value of subject-matter is indeterminate.

Section 27 Indian Stamp Act 1899Facts affecting duty to be set forth in instrument.

Section 28 Indian Stamp Act 1899Direction as to duty in case of certain conveyances.

E. —Duty by whom payable

Section 29 Indian Stamp Act 1899Duties by whom payable.

Section 30 Indian Stamp Act 1899Obligation to give receipt in certain cases.

Chapter III – Adjudication As To Stamps

Section 31 Indian Stamp Act 1899Adjudication as to proper stamp.

Section 32 Indian Stamp Act 1899Certificate by Collector.

Chapter IV – Instruments Not Duly Stamped

Section 33 Indian Stamp Act 1899Examination and impounding of instruments.

Section 34 Indian Stamp Act 1899Special provision as to unstamped receipts.

Section 35 Indian Stamp Act 1899Instruments not duly stamped inadmissible in evidence, etc.

Section 36 Indian Stamp Act 1899Admission of instrument where not to be questioned.

Section 37 Indian Stamp Act 1899Admission of improperly stamped instruments.

Section 38 Indian Stamp Act 1899Instruments impounded how dealt with.

Section 39 Indian Stamp Act 1899Collector’s power to refund penalty paid under section 38, sub-section (1).

Section 40 Indian Stamp Act 1899Collector’s power to stamp instruments impounded.

Section 41 Indian Stamp Act 1899Instruments unduly stamped by accident.

Section 42 Indian Stamp Act 1899Endorsement of instruments on which duty has been paid under sections 35, 40 or 41.

Section 43 Indian Stamp Act 1899Prosecution for offence against Stamp-law.

Section 44 Indian Stamp Act 1899Persons paying duty or penalty may recover same in certain cases.

Section 45 Indian Stamp Act 1899Power to Revenue-authority to refund penalty or excess duty in certain cases.

Section 46 Indian Stamp Act 1899Non-liability for loss of instruments sent under section 38.

Section 47 Indian Stamp Act 1899Power of payer to stamp bills, and promissory notes received by him unstamped.

Section 48 Indian Stamp Act 1899Recovery of duties and penalties.

Chapter V – Allowances For Stamps In Certain Cases

Section 49 Indian Stamp Act 1899Allowance for spoiled stamps.

Section 50 Indian Stamp Act 1899Application for relief under section 49 when to be made.

Section 51 Indian Stamp Act 1899Allowance in case of printed forms no longer required by Corporations.

Section 52 Indian Stamp Act 1899Allowance for misused stamps.

Section 53 Indian Stamp Act 1899Allowance for spoiled or misused stamps how to be made.

Section 54 Indian Stamp Act 1899Allowance for stamps not required for use.

Section 54A Indian Stamp Act 1899Allowances for stamps in denominations of annas.

Section 54B Indian Stamp Act 1899Allowances for Refugee Relief stamps.

Section 55 Indian Stamp Act 1899Allowance on renewal of certain debentures.

Section 56 Indian Stamp Act 1899Control of, and statement of case to, Chief Controlling Revenue-authority.

Chapter VI – Reference And Revision

Section 57 Indian Stamp Act 1899Statement of case by Chief Controlling Revenue-authority to High Court.

Section 58 Indian Stamp Act 1899Power of High Court to call for further particulars as to case stated.

Section 59 Indian Stamp Act 1899Procedure in disposing of case stated.

Section 60 Indian Stamp Act 1899Statement of case by other Courts to High Court.

Section 61 Indian Stamp Act 1899Revision of certain decisions of Courts regarding the sufficiency of stamps.

Section 62A Indian Stamp Act 1899Penalty for failure to comply with provisions of section 9A.

Chapter VII – Criminal Offences And Procedure

Section 62 Indian Stamp Act 1899Penalty for executing, etc., instrument not duly stamped.

Section 63 Indian Stamp Act 1899Penalty for failure to cancel adhesive stamp.

Section 64 Indian Stamp Act 1899Penalty for omission to comply with provisions of section 27.

Section 65 Indian Stamp Act 1899Penalty for refusal to give receipt, and for devices to evade duty on receipts.

Section 66 Indian Stamp Act 1899Penalty for not making out policy or making one not duly stamped.

Section 67 Indian Stamp Act 1899Penalty for not drawing full number of bills or marine policies purporting to be in sets.

Section 68 Indian Stamp Act 1899Penalty for post-dating bills, and for other devices to defraud the revenue.

Section 69 Indian Stamp Act 1899Penalty for breach of rule relating to sale of stamps and for unauthorised sale.

Section 70 Indian Stamp Act 1899Institution and conduct of prosecutions.

Section 71 Indian Stamp Act 1899Jurisdiction of Magistrates.

Section 72 Indian Stamp Act 1899Place of trial.

Chapter VIII – Supplemental Provisions

Section 73 Indian Stamp Act 1899Books, etc., to be open to inspection.

Section 73A Indian Stamp Act 1899Power of Central Government to make rules.

Section 73B Indian Stamp Act 1899Power to issue directions and to authorise certain authorities to issue instructions, etc.

Section 74 Indian Stamp Act 1899Powers to make rules relating to sale of stamps.

Section 75 Indian Stamp Act 1899Powers to make rules generally to carry out Act.

Section 76 Indian Stamp Act 1899Publication of rules.

Section 76A Indian Stamp Act 1899Delegation of certain powers.

Section 77 Indian Stamp Act 1899Saving as to court-fees.

Section 77A Indian Stamp Act 1899Saving as to certain stamps.

Section 78 Indian Stamp Act 1899Act to be translated, and sold cheaply.

Section 79 Indian Stamp Act 1899 – [Repealed.].

Schedule

(Not Available)

SCHEDULE I.––Stamp-duty on instruments.

SCHEDULE II. –– [Repealed.]


See also: Indian Constitution 1949

– Indian Penal Code 1860 (S. 1-267)

– Indian Penal Code 1860 (S. 268-511)

Indian Partnership Act 1932

Section 78 Indian Stamp Act 1899

Section 78 Indian Stamp Act

Section 78 of the Indian Stamp Act 1899 is about Act to be translated, and sold cheaply. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Act to be translated, and sold cheaply.

Every State Government shall make provision for the sale of translations of this Act in the principal vernacular languages of the territories administered by it at a price not exceeding 1[twenty-five naye paise] per copy.


STATE AMENDMENT


ASSAM–

Substitution of section 78.–In the principal Act, for section 78, the following shall be substituted, namely,–

“78. Duty or allowance to be rounded off to 78 the next rupee.–If the total amount of duty payable, or of allowance to be made under this Act is not a round figure, the total amount shall be rounded off the next rupee.”


[Vide Assam Act 22 of 2004, s. 5]

Section 77A Indian Stamp Act 1899

Section 77A Indian Stamp Act

Section 77A of the Indian Stamp Act 1899 is about Saving as to certain stamps. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Saving as to certain stamps.

All stamps in denominations of annas four or multiples thereof shall be deemed to be stamps of the value of twenty-five naye paise or, as the case may be, multiples thereof and shall, accordingly, be valid for all the purposes of this Act.]


STATE AMENDMENT


Orissa.–

Repeal of section 77-A, (Act 2 of 1899).— Section 77-A of the Indian Stamp Act, 1899 (2 of 1899) (hereinafter referred a to as the principal Act), shall be omitted.


[Vide Orissa Act 9 of 1970, s. 2]

Section 77 Indian Stamp Act 1899

Section 77 Indian Stamp Act

Section 77 of the Indian Stamp Act 1899 is about Saving as to court-fees. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Saving as to court-fees.

Nothing in this Act contained shall be deemed to affect the duties chargeable under any enactment for the time being in force relating to court-fee.


STATE AMENDMENT


Himachal Pradesh.–

At the beginning of section 77 of the said Act the following words shall be inserted, namely:–

“Except for the provisions as to copies contained in section 6-A”.


[Vide Himachal Pradesh Act 4 of 1953, s. 11]


STATE AMENDMENT


Orissa.–

Section 77-A, Act 2 of 1899.––After section 77 of the principal Act the following new section shall be inserted, namely:–


77-A. Fractions of five naye paise to be rounded off.– In the determination of the amount of duly payable or of allowance to be made under this Act, any fraction of five naye paise shall be rounded off to the next higher five naye paise.


[Vide Orissa Act 35 of 1962, s. 3]

Section 76A Indian Stamp Act 1899

Section 76A Indian Stamp Act

Section 76A of the Indian Stamp Act 1899 is about Delegation of certain powers. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Delegation of certain powers.

The State Government may, by notification in the Official Gazette], delegate


(a) all or any of the powers conferred on it by sections 2(9), 33(3), ( b ), 70(1), 74 and 78 to the Chief Controlling Revenue-authority; and


(b) all or any of the powers conferred on the Chief Controlling Revenue-authority by sections 45 (1), (2), 56 (1) and 70 (2) to such subordinate Revenue-authority as may be specified in the notification. ] 

STATE AMENDMENT


Uttar Pradesh


Amendment of section 76-A to Act no. II of 1899.–In section 76-A of the Indian Stamp Act, 1899, as amended in its application to Uttar Pradesh, in clause (b) for the figures 56 (1) the figures and letter 56 (1) (1-A) shall be substituted.


[Vide Uttar Pradesh Act 1 of 2016, s. 2]

Section 76 Indian Stamp Act 1899

Section 76 Indian Stamp Act

Section 76 of the Indian Stamp Act 1899 is about Publication of rules. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Publication of rules.

[(1) All rules made under this Act shall be published in the Official Gazette.]


(2) All rules published as required by this section shall, upon such publication, have effect as if enacted by this Act.


2[(2A) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.]


3[(3) Every rule made by the State Government under this Act shall be laid, as soon as may be after it is made, before the State Legislature..]

Section 75 Indian Stamp Act 1899

Section 75 Indian Stamp Act

Section 75 of the Indian Stamp Act 1899 is about Powers to make rules generally to carry out Act. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Powers to make rules generally to carry out Act.

The [State Government] may make rules to carry out generally the purposes of this Act, and may by such rules prescribe the fines, which shall in no case exceed five hundred rupees, to be incurred on breach thereof.

Section 74 Indian Stamp Act 1899

Section 74 Indian Stamp Act

Section 74 of the Indian Stamp Act 1899 is about Powers to make rules relating to sale of stamps. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Powers to make rules relating to sale of stamps.

The 1[State Government] 2*** may make rules for regulating


(a) the supply and sale of stamps an stamped papers,


(b) the persons by whom alone such sale is to be conducted, and


(c) the duties and remuneration of such persons:

Provided that such rules shall not restrict the sale of [ten naye paise or five naya paise] adhesive stamps.

Section 73B Indian Stamp Act 1899

Section 73B Indian Stamp Act

Section 73B of the Indian Stamp Act 1899 is about Power to issue directions and to authorise certain authorities to issue instructions, etc. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

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

The Central Government may,–


(a) issue directions relating to such matters and subject to such conditions, as it deems necessary;


(b) in writing, authorise the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) or the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934) to issue instructions, circulars or guidelines,


for carrying out the provisions of Part AA of Chapter II and the rules made there under.]

Section 73A Indian Stamp Act 1899

Section 73A Indian Stamp Act

Section 73A of the Indian Stamp Act 1899 is about Power of Central Government to make rules. It is under CHAPTER VIII (Supplemental Provisions) of the Act.

Power of Central Government to make rules.

(1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of Part AA of Chapter II.


(2) Without prejudice to the generality of the provisions of sub-section (1), the Central Government may make rules for all or any of the following matters, namely:–


(a) the manner of collection of stamp-duty on behalf of the State Government by the stock exchange or the clearing corporation authorised by it, from its buyer under clause (a) of sub-section (1) of section 9A;


(b) the manner of collection of stamp-duty on behalf of the State Government by the depository from the transferor under clause (b) of sub-section (1) of section 9A;


(c) the manner of collection of stamp-duty on behalf of the State Government by the depository from the issuer under clause (c) of sub-section (1) of section 9A;


(d) the manner of transfer of stamp-duty to the State Government under sub-section (4) of section 9A;


(e) any other matter which has to be, or may be, provided by rules.]