Stamp Act, 1899

1 TheIndianStampAct,1899(2of1899)asamended byTheWarehousing(DevelopmentandRegulatio n)Act,2007(37of2007)withShortCommentsCON TENTSTHEINDIANSTAMPACT, , instrumentsto [Repealed] , [ ' , ,remitorcbmpoundduties, ,than,l;> , bechargeableasagr~ ,orsubjecttofuturepayment,etc.,to becharged' <innuity, ;a,.Page"12566hh'7,778889991010101010101 011111111111212131313(iv)CONTENTSS ection,,E,-Dlltybywhom-payable29, , , 'spowertorefundpenaltypaidundersection38 ,sub-section(1) ' , ,andstatementofcaseto, !--f' ,etc., , , ,etc., ~to Court,fees77 ,andsoldcheaply79.[Repealed],SCHEDULEI-S TAMPDUTYONINSTRUMENTSSCHEDULEI1-[Repeale d](v)Page2626272828282829292929293030303 0303031313131313155 ListofAmendingActs/AdaptationOrders1. ,1914(10of1914) ~130 1919, ,1926(38of1926) (AdaptationofIndianLaws)Order, (AdaptationofCentralActsandOrdinances)Or der, , (AdaptationofLawsonUnionSubjects)Order, (Amendment)Act,1955(43of1955) ,1956(76of1956) ( )Order, (Amendment)Act,1958(19of1958) ,1961(14of1961) (StampandCourfFeesLaws)Act,1961(330 1961) ,1963(11of1963) ,1968(26of1968) (AdaptationofLawsonUnionSubjects)Order, (Amendment)Act,1971(44of1971) (Amendment)Act,1971(73of1971) (Abolition)Act,1973(13of1973) (Amendment)Act,1973(14of1973) (AdaptationofLawsonUnionSubjects)Order, (Reorganisation)(AdaptationofLawsonUnion Subjects)Order, ,MinicoyandAminidiviIslands(Alterationof Name)AdaptationofLawsOrder, ,1976(66of1976) ,1985(32of1985) ,1994(32of1994) ,1996(22of1996) (Amendment)Act,1997(8of1997) ,2000(10of2000) (Amendment)Act,2001(48of2001)]

2 (E), ( )Act,2004(23of2004) (Amendment)Act,2004(4 of2005) ,2005(18of2005) ,2005(28of2005) ,2006(21of2006) (DevelopmentandRegulation)Act,2007(37of2 007) (E),dated12-9-2008 THEINDIANSTAMPACT,1899*(2OF1899)[27thJan uary,1899] ;It is herebyenactedasfollows:-COMMENTSTheStamp ActbeinganActtocqnsolidateandamendis exhaustiveandindicatesthatalltheformerAc tsonthesubjectofstampshavebeencollecteda ndthelawembodiedthereinalteredandfordete rminingthenatureofa document, ( ).CourthastoconsidertheprovisionsoftheSt ampActasa fiscalmeasure, ( ).ThesoleobjectoftheIndianStampActis fiscalenactmentyetconsideringtheimplicat ionsinvolvedtherein,itsprovisionsmustbeg ivena , (l)ThisActmaybecalledTHEINDIANSTAMPACT, [(2)It extendstothewholeofIndiaexcepttheStateof JammuandKashmir:Providedthatitshallnotap plyto2[theterritorieswhich,immediatelybe forethe1stNovember,1956,werecomprisedinP artB States](excludingtheStateofJammuandKashm ir)excepttotheextent towhichtheprovisionsofthisActrelatetorat esofstamp-dutyinrespectofthedocumentsspe cifiedinEntry91ofListI intheSeventhScheduletotheConstitution.]

3 ](3)It shallcomeintoforceonthefirstdayoOuly, 'fhisActhasbeendeclaredtobeinforceintheS onthalParganasbytheSonthaiParganasSettle mentRegulationInof1i72andintheAngulDistr ictbytheAngulLawsRegulationV (a)oftheScheduledDistrictsActXIVof1874,t heActhasbeendeclaredtobeinforceintheSche duledDistrictsofGanjam, 'DistrictsActXIVof1874,theActhasbeenexte nded,'lithcertainmodifications,tothedist rictsoftheKhasiandJaintiaHills,theGaroHi lls,theLushaiHills,andtheNagaHillsandthe NorthKacharsub-divisionoftheKachardistri ct,theMikirHillTractsintheSibsagarandNow gongdistricts,\ (l)AndamanandNicobarIslandsbyRegulationI of1961;(2)DadraandNagarHavelibyRegulatio nVIof1963;(3)Goa,DamanandDiubyRegulation XIof1963;(4)Laccadive, ,seeAct34of1973, and(5) SubstitutedbyAct43of1955, , forsub-So(2)( ).2. SubstitutedbytheAdaptationofLaws( )Order,1956,for"PartBStates".

4 2 INDIANSTAMPACT,1899[ is ,ListI ( ).2. ,unlessthereissomethingrepugnantinthesub jectorcontext,-(1) "Banker"includesa bankandanypersonactingasabanker;(2) "Billofexchange"meansa billofexchangeasdefinedbytheNegotiableIn strumentsAct,1881(26of1881),andincludesa lsoa hundi,andanyotherdocumententitlingorpurp ortingtoentitleanyperson,whethernamedthe reinornot,topaymentbyanyotherpersonof,or todrawuponanyotherpersonfor,anysumofmone y;(3) "Billofexchangepayableondemand"includes- (a)anorderforthepaymentofanysumofmoneyby a billofexchangeorpromissorynote,orforthed eliveryofanybillofexchangeorpromissoryno teinsatisfactionofanysumofmoney,orforthe paymentofanysumofmoneyoutofanyparticular fundwhichmayormaynotbeavailable,oruponan yconditionorcontingencywhichmayormaynotb eperformedorhappen;(b)anordEfrforthepaym entofanysumofmoneyweekly,monthlyorat anyotherstatedperiod.]

5 And(c)a letterofcredit,thatis tosay,anyinstrumentbywhichoneperson. authorisesanotherto givecredittothepersoninwhosefavourit is drawn;(4) "Billoflading"includesa "throughbilloflading",.butdoesnotinclude a mate'sreceipt;(5) "Bond"includes-(a)anyinstrumentwherebya personobligeshimselftopaymoneytoanother, onconditionthatth~obligationshallbevoidi fa specifiedactisperformed,oris notperformed,asthecasemaybe;,(b)anyinstr umentattestedbya witnessandnotpayabletoorderorbearer,wher ebya personobligeshimselftopaymoneytoanother; and(c)anyinstrumentsoattested,wherebya personobligeshimselftodelivergrainorothe ragriculturalproducetoanother;(6) "chargeable"means, ,chargeableunderthisAct,and,asappliedtoa nyotherinstrument,chargeableunderthelawi nforcein3[India]whensuchinstrumentwasexe cutedor,whereseveralpersonsexecutedthein strumentat differenttimes,firstexecuted;(7) "cheque"meansa billofexchange,drawnona specifiedbankerandnotexpressedto bepayableotherwisethanondemand;4[** *] , , for"theStates"( ).

6 4. Definitionof"ChiefControllingRevenueAuth ority" (10) ]INDIANSTAMPACT,18993(9) "Collector"-(a)means,withinthelimitsofth etownsofCalcutta,MadrasandBombay,theColl ectorofCalcutta,MadrasandBombay,respecti velyand,withoutthoselimits,theCollectoro fa district,and(b)includesa DeputyCommissionerandanrofficerwhom5[the 6[StateGovernment]]may,bynotificationint heOfficiaGazette,appointinthisbehalf;(10 ) "conveyance"includesa conveyanceonsaleandeveryinstrumentbywhic hproperty,whethermovableorimmovable,is transferredintervivosandwhichis nototherwisespecificallyprovidedforbySch eduleI;(11) "dulystamped",asappliedtoaninstrument,me ansthattheinstrumentbearsanadhesiveorimp ressedstampofnotlessthantheproperamounta ndthatsuchstamphasbeenaffixedorusedinacc ordancewiththelawforthetimebeinginforcei n7[India];(12) "executed"and"execution",usedwithreferen cetoinstruments,mean"signed"and"signatur e";8[**](13) "impressedstamp"includes-(a)labelsaffixe dandimpressedbytheproperoff~cer,and(b)st ampsembossedorengravedonstampedpaper;9[( 13-A) "India"meanstheterritoryofIndiaexcluding theStateof JammuandKashmir;](14) "instrument"includeseverydocumentbywhich anyrightorliabilityis,orpurportstobe,cre ated,transferred,limited,extended,exting uishedorrecorded;(15) "instrumentofpartition"meansanyinstrumen twherebyco-ownersofanypropertydivideorag reetodividesuchpropertyinseveralty,andin cludesalsoa finalorderforeffectinga partitionpassedbyanyrevenue-authorityora nycivilCourt'andanawardbyanarbitratordir ectinga partition;(16) "lease"meansa leaseofimmovableproperty,andincludesalso -(a)a patta.

7 (b)akabuliyatorotherundertakinginwriting ,notbeinga counter-partofa lease,to cultivate,occupy,orpayordeliverrentfor,i mmovableproperty;(c)anyinstrumentbywhich tollsofanydescriptionarelet;(d)anywritin gonanapplicationfora leaseintendedtosignifythattheapplication is granted;..5. ,for" ".6. ,for"collectingGovernment".7. SubstitutedbyAct43of1955, , for"theStates"( ).8. Definitionof"collectingGovernment" InsertedbyAct430f1955, ( ).4 INDIANSTAMPACT,1899[ [(16-A) "marketablesecurity"meansa securityofsucha descriptionastobecapableofbeingsoldinany stockmarketinlI[India]orintheUnitedKingd om;](17) "mortgage-deed"includeseveryinstrumentwh ereb7'forthepurposeofsecuringmoneyadvanc ed,ortobeadvanced,byway0loan,oranexistin gorfuturedebt,ortheperformanceofanengage ment,onepersontransfers,orcreatesto,orin favourofanothera rightoverorinrespectofspecifiedproperty; (18) "paper"includesvellum,parchmentoranyothe rmaterialonwhichaninstrumentmaybewritten ;(19) "policyofinsurance"includes-(a)anyinstru mentbywhichoneperson,inconsiderationofap remium,engagestoindemnifyanotheragainstl oss,damageorliabilityarisingfromanunknow norcontingentevent;(b)a life-policy,andanypolicyinsuringanyperso nagainstaccidentorsickness,andanyotherpe rsonalinsurance.]

8 12[*J 12[** *]13[(19-A) "policyofgroupinsurance"meansanyinstrume ntcoveringnotlessthanfiftYorsuchsmallern umberastheCentralGovernmentmayapprove,ei thergenerallyorwithreferencetoanyparticu larcase,bywhichaninsurer,inconsideration ofa premiumpaidbyanemploy~rorbyanemployerand hisemployeesjointly,engagestocover,witho rwithoutmedicalexaminationandforthesoleb enefitofpersonsotherthantheemployer,thel ivesofalltheemployeesorofanyclassofthem, determinedbyconditionspertainingtotheemp loyment,foramountsofinsurancebasedupona planwhichprecludesindiviaualselection;]( 20) "policyofsea-insurance"or"sea-policy"-(a )meansanyinsurancemadeuponanyshiporvesse l(whetherformarineorinlandnavigation),or uponthemachinery,tackleorfurnitureofanys hiporvessel,oruponanygoods,merchandiseor propertyofanydescriptionwhateveronboardo fanyshiporvessel,oruponthefreightof,oran yotherinterestwhichmaybelawfullyinsuredi n,orrelatingto,anyshiporvessel,and(b)inc ludesanyinsuranceofgoods,merchandiseorpr opertyforanytransitwhichincludes,notonly a seariskwithinthemeaningofclause(a),butal soanyotherriskincidentaltothetransitinsu redfromthecommencementofthetransittotheu ltimatedestinationcoveredbytheinsurance. ]

9 Whereanyferson,inconsiderationofanysumof moneypaidortobepaidforadditionafreightor otherwise,agreestotakeuponhimselfanyrisk attendinggoods,merchandiseorpropertyofan ydescriptionwhateverwhileonboardofanyshi porvessel,orengage:;toindemnifytheownero fanysuchgoods,merchandiseorpropertyfroma nyrisk,lossordamage,suchagreementorengag ementshallbedeemedto bea contractforsea-insurance; , , , for"theStates"( ). "and"andsub-Cl.(c)omittedbyAct50f1906, , ( ). ]INDIANSTAMPACT,18995(21) "power-of-attorney"includesanyinstrument ( feeunderthelawrelatingtoCourt-feesforthe timebeinginforce)empoweringa specifiedpersontoactforandinthenameofthe personexecutingit;.(22) "promissorynote"meansa promissorynoteasdefinedbytheNegotiableIn strumentsAct,1881(26of1881);it alsoincludesa notepromisingthepaymentofanysumofmoneyou tofanyparticularfundwhichmayormaynotbeav ailable,oruponanyconditionorcontingencyw hichmayormaynotbeperformedorhappen;(23) "receipt"includesanynote,memorandumorwri ting-(a)wherebyanymoney,oranybillofexcha nge,chequeorpromissorynoteis acknowledgedtohavebeenreceived,or(b)wher ebyanyothermovablepropertyisacknowledged tohavebeenreceivedinsatisfactionofa debt,or~(c)wherebyanydebtordemand,oranyp artofa debtordemand,isacknowledgedtohavebeensat isfiedordischarged,or(d)whichsignifiesor importsanysuchacknowledgment,andwhethert hesameis oris notsignedwiththenameofanyperson.

10 14[*](24) "settlement"meansanynon-testamentarydisp osition,inwriting,ofmovableorimmovablepr opertymade- (l)inconsiderationofmarriage,(b)forthepu rposeofdistributingpropertyofthesettlera monghisfamilyortRoseforwhomhedesirestopr ovide,orforthepurposeofprovidingforsomep ersondependentonhim,or(c)foranyreligious orcharitablepurpose;.andincludesanagreem entinwritingtomakesucha deposition15[and,whereanysuchdisposition hasnotbeenmadeinwriting,anyinstrumentrec ording,whetherbywayofdeclarationoftrusto rotherwise,thetermsofanysuchdisposition] ;16[*]17[(25) "soldier"includesanypersonbelowtherankof non-commissionedofficerwhois enrolledundertheIndianArmyAct,1911*;]18[ (26) " Stamp "meansanymark,sealorendorsementbya nyagencyorpersondulyauthorisedbytheState Government,andincludesanadhesiveorimpres sedstamp,forthepurposesofdutychargeableu nderthisAct.]