Chapter IV Chapter IV

Amendment to the Stamp Act, Samvat 1977

Amendment of entry 43-B, Schedule I in Act XL of Samvat 1977.—For sub-clause

1. (b) of clause B of entry 43 of Schedule I of the Stamp Act, Samvat 1977, the following sub-clause shall be substituted, namely :—

"(b) In any other case for the maximum amount which may become payable in case of any single accident or sickness where such amount does not exceed Rs. 1,000/- and also where such amount exceeds Rs. 1,000/- for every Rs. 1,000/- or part thereof. Rs. 0.40

Provided that in case of a policy of insurance against death by accident, when the annual premium payable does not exceed Rs. 1.50 per Rs. 1,000/- the duty on such instrument shall be Rs. 0.15 for every Rs. 1,000/- or part thereof. Provided further the minimum duty chargeable shall be Rs. 5/- and the duty so payable shall be rounded to next Rs. 5/- or multiple of Rs. 5/- as the case may be."