The Indian Stamp (Madhya Pradesh Amendment) Act, 1958

1. (1) This Act may be called the Indian Stamp (Madhya Pradesh Amendment) Act, 1958.
2. (2) It shall come into force on such date2 as the State Government may, by notification, direct.

The following amendments shall be made in the Indian Stamp Act, 1899 (II of 1899) in its application to the State of Madhya Pradesh in so far as it relates to matters with respect to which the State Legislature has power to make laws, namely :—

1. (a) in sub-section

1. (1) of section 4 and in the proviso to section 6 for the words "one rupee and eight annas," the words "one rupee and fifty naye paise, shall be substituted;
   • (b) in clause
   • (a) of section 11 and in clause
   • (c) of the proviso to sub-section
2. (3) of section 32, for the words "one anna or half an anna," the words "ten naye paise or five naye paise" shall be substituted;
   • (c) in sub-section
3. (1) of section 31 for the words "eight annas," the words "fifty naye paise" shall be substituted;
   • (d) in section 53 and 54 for the words "one anna," the words "six naye paise" shall be substituted;
   • (e) in clause
   • (b) of section 69 for the words and brackets "one anna (or half an anna)," the words and brackets "ten naye paise (or five naye paise)" shall be substituted;
   • (f) in section 78 for the words "four annas," the words "twenty five naye paise" shall be substituted;
   • (g) in Schedule I-A,—
     • (i) except in clauses
   • (a) and
   • (b) of article 5 and in articles 27 and 62, for the words mentioned in column
4. (1) of the table below wherever occurring, whether in conjunction with any other words or otherwise, the words mentioned in the corresponding entries in column
5. (2) thereof shall be substituted, namely :— TABLE (1) (2) One and a half annas Fifteen naye paise. one and a half annas fifteen naye paise. Two annas Fifteen naye paise. two annas fifteen naye paise. Three annas Twenty naye paise. three annas twenty naye paise Four annas Twenty-five naye paise four annas twenty-five naye paise. Five annas Thirty-five naye paise five annas thirty-five naye paise Six annas Forty naye paise six annas forty naye paise Eight annas Fifty naye paise eight annas fifty naye paise Ten annas Sixty-five naye paise ten annas sixty-five naye paise Twelve annas Seventy-five naye paise twelve annas seventy-five naye paise
   • (ii) in article 6 —
   • (a) for paragraphs (i),
     • (ii) and
     • (iii) of sub-clause
   • (a) and for sub-clause
   • (b) of clause 2, the following paragraphs and sub-clause shall be substituted, namely .— "If drawn singly If drawn in set of two for each part of the set If drawn in set of three for each part of the set Rs. np. Rs. np. Rs. np.
     • (i) when the amount of the loan or debt does not exceed Rs. 100 0 25 0 15 0 10
     • (ii) when the amount of the loan or debt exceeds Rs. 100 but does not exceed Rs. 200. 0 40 0 25 0 10
     • (iii) when it exceeds— Rs. Rs. 200 but does not exceed 400 0 75 0 35 0 25 400 -Do- 600 1 10 0 60 0 35 600 -Do- 800 1 50 0 75 0 50 800 -Do- 1,000 1 85 1 00 0 60 1,000 -Do- 1,200 2 25 1 10 0 75 1,200 -Do- 1,600 3 00 1 50 1 00 1,600 -Do- 2,500 4 50 2 25 1 50 2,500 -Do- 5,000 9 00 4 50 3 00 5,000 -Do- 7,500 13 35 6 75 4 50 7,500 -Do- 10,000 18 00 9 00 6 00 If drawn singly If drawn in set of two for each part of the set If drawn in set of three for each part of the set Rs. Rs. Rs. np. Rs. np. Rs. np. 10,000 but does not exceed 15,000 27 00 13 50 9 00 15,000 -Do- 20,000 36 00 18 00 12 00 20,000 -Do- 25,000 45 00 22 50 15 00 25,000 -Do- 30,000 54 00 27 00 18 00 and for every additional Rs. 10,000 or part thereof in excess of Rs. 30,000 18 00 9 00 6 00
   • (b) if such loan or debt is repayable not more than three months from the date of such instrument— Rs. np. Rs. np. Rs. np.
     • (i) when the amount of the loan or debt does not exceed Rs. 100. 0 15 0 10 0 5
     • (ii) when the amount of the loan or debt exceeds Rs. 100 but does not exceed Rs. 200. 0 20 0 15 0 5
     • (iii) when it exceeds— Rs. Rs. 200 but does not exceed 400 0 40 0 20 0 15 400 -Do- 600 0 55 0 30 0 20 600 -Do- 800 0 75 0 40 0 25 800 -Do- 1,000 0 95 0 50 0 30 1,000 -Do- 1,200 1 15 0 55 0 40 1,200 -Do- 1,600 1 50 0 75 0 50 1,600 -Do- 2,500 2 25 1 15 0 75 2,500 -Do- 5,000 4 50 2 25 1 50 5,000 -Do- 7,500 6 70 3 40 2 25 7,500 -Do- 10,000 9 00 4 50 3 00 10,000 -Do- 15,000 13 50 6 75 4 50 15,000 -Do- 20,000 18 00 9 00 6 00 20,000 -Do- 25,000 22 50 11 25 7 50 25,000 -Do- 30,000 27 00 13 50 9 00 and for every additional Rs. 10,000 or part thereof in excess of Rs. 30,000 9 00 4 50 3 00;" and
     • (iii) in paragraph
     • (ii) of article 33, in column
6. (2) for the letters and figures "Rs. 13-5-0" the letters and figures "Rs. 13.35 np." shall be substituted.

The stamps denoting the fees chargeable under this Act in old denominations shall continue to be valid for a period of six months from the date of commencement of the Indian Stamps (Madhya Pradesh Amendment) Act, 1958 ( 18 of 1958) to the same extent to which they would have been valid, if the said Act had not been passed.

For Schedule 1-A to the principal Act, the following Schedule shall be substituted, namely:—

“SCHEDULE 1-A Stamp Duty on Instruments (See Sections 3)

Description of Instruments (1)

Proper Stamp Duty (2)

1. Acknowledgement of a debt exceeding five hundred rupees in amount or value, written or signed by or on behalf of debtor in any book (other than a banker's pass book) or on a separate piece of paper, when such book or paper is left in the creditor's possession. Ten rupees.

2. Acknowledgement of receipt of payment of consideration on account of another deed, which has been previously registered. Five thousand rupees.

3. Administration-Bond, including a bond given under section 291, 375 and 376 of the Indian Succession Act, 1925 (39 of 1925) and Section 6 of the Government Savings Bank Act, 1873 (5 of 1873). The same duty as a bond (No. 14) for the same amount.

4. Adoption deed, that is to say, any instrument (other than a will) recording an adoption or conferring or purporting to confer an authority to adopt.

Affidavit, that is to say, a statement in writing purporting to be a statement of fact, signed by the person making it and confirmed by him on oath or, in the case of persons by law allowed to affirm instead of swearing, by affirmation.

Agreement of Memorandum of an agreement-

1. (a) If relating to the sale of bill of exchange. One rupee for every rupees 10,000 or part thereof. (b)
   • (i) If relating to the purchase or sale of a Government security. One rupee for every rupees 10,000 or part thereof, of the value of the security at the time of its purchase or sale, as the case may be, in subject to a maximum of rupees five thousand.
   • (ii) If relating to the purchase or sale of shares, scrips, bonds, debentures, debenture-stocks or any other marketable security of a like nature in or of any incorporated company or other body corporate. Rupees two for every one lakh or part thereof, of the value of the security at the time of its purchase or sale, as the case may be, in case of non-delivery- based transactions; and one rupee for every rupees 10,000 or part thereof in case of delivery- based transactions.
2. (c) It relating to a permission granted by a manufacturer or owner of a business, know-how, brand name, trademark or the like to another person to carry on business or other activity using the grantor's know-how, brand name, trademark etc., i.e. the agreement of franchise. Ten thousand rupees
3. (d) If relating to the development of land and/or construction of a building thereon by a person other than the owner or lessee of such land.
   • (i) if having the stipulation that after development, such developed property or part thereof shall be held/ sold by the developer, by whatever name called, either severally or jointly with the owner/ lessee - The same duty as a conveyance (No. 25) on the, market value of only that portion of the entire land proposed to be developed which is proportionate to the developed property to be held/sold by the developer jointly or severally, or half of the duty as a conveyance (No. 25) on the market value of the entire land proposed to be developed, whichever is higher.
   • (ii) for cases not covered by
   • (i) above - 0.25 percent of the market value of the entire land proposed to be developed, subject to a minimum of one thousand rupees. Explanation-For the purposes of this article,
   • (i) "development" and "developer" shall have the same meaning as assigned to them respectively in section 2(f) of the Madhya Pradesh Nagar Tatha Gram Nivesh Adhiniyam, 1973 (No. 23 of 1973) and rule 2 (1)
4. (b) of the Madhya Pradesh Special Project and Township (Development, Regulation and Control) Rules, 2011.
   • (ii) where the developed property is held/sold jointly but the share of the developer is not expressly mentioned in the document, the developer's share shall be deemed to be 100 percent.
5. (e) If relating to sale of immovable property-
   • (i) When possession of the property is delivered or is agreed to be delivered without executing the conveyance. The same duty as conveyance (No. 25) on the market value of the property.
   • (ii) When possession of the property is not given. One thousand rupees.
6. (f) If relating to hire- purchase of immovable property. The same duty as a conveyance (No. 25) on the market value of the property.
7. (g) If relating to secure repayment of a loan or debt. 0.25 percent of the amount of loan or debt, subject to a maximum of five lakh rupees.
8. (h) If not otherwise provided for.

Agreement relating to deposit of title deeds, pawn, pledge or hypothecation, that is to say, any instrument evidencing an agreement relating to-

1. (a) the deposit of title deeds or instruments constituting or being evidence of the title to any property whatever (other than a marketable security), where such deposit has been made by way of security for the repayment of money advanced or to be advanced by way of loan or an existing or future debt. 0.25 percent of the amount secured by such deed, subject to a maximum of five lakh rupees.
2. (b) the pawn, pledge or hypothecation of movable property, where such pawn, pledge or hypothecation has been made by way of security for the repayment of money advanced, or to be advanced by way of loan or an existing or future debt. 0.25 percent of the amount of loan or debt subject to a maximum of five lakh rupees. Explanation I - On an instrument relating to deposit of title deeds or pawn or pledge or hypothecation for securing repayment of money advanced or to be advanced by way of loan or an existing or future debt of a higher amount than one secured by earlier instruments of like nature, the duty shall be chargeable only on the additional amount in case the proper stamp duty has been paid on the earlier instrument. Explanation II-for the purposes of clause
3. (a) of this article, notwithstanding anything contained in any judgment, decree or order of any court or order of any authority, any letter, note, memorandum or writing relating to the deposit of title deeds whether written or made either before or at the time when or after the deposit of title deeds is effected, and whether it is in respect of the security for the first loan or any additional loan or loans taken subsequently, such letter, note, memorandum or writing shall, in the absence of any separate agreement or memorandum of agreement relating to deposit of such title deeds, be deemed to

1. (1) (2)

Two hundred rupees.

1. (a) where the company has no share capital. Five thousand rupees.
2. (b) where the company has nominal share capital or increased share capital. 0.15 percent of such nominal or increased share capital, subject to a minimum of five thousand rupees and a maximum of twenty five lakh rupees.

premium and rent of any property, which is subject matter of lease executed by or on behalf of the Central Government or the State Government or any undertaking of the State Government shall be as shown in the instrument.

Ten rupees.

One thousand rupees.

Two thousand rupees.

1. (a) If accompanied by articles under section 5 of the Companies Act, 2013 (No. 18 of 2013) Two thousand five hundred rupees.
2. (b) If not so accompanied.

Mortgage deed, not being an agreement relating to the deposit of title deeds, Pawn, Pledge or Hypothecation (No.7), Bottomry bond (No. 15), Mortgage of a crop (No.44), Respondentia Bond (No.55), or a Security bond (No. 56)-

1. (a) When possession of the property or any part of the property comprised in such deed is given by mortgagor or agreed to be given. The same duty as a conveyance (No. 25) for the amount secured by such deed.
2. (b) When possession is not given or agreed to be given as aforesaid. The same duty as a Bond (No. 14) for the amount secured by such deed. Explanation-I A mortgagor who gives to the mortgagee a power of attorney to collect rents of a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article. Explanation-II For mortgage, for creating development of or construction on land under the Madhya Pradesh Nagar Palika (Registration of Colonizer, Terms and Conditions) Rules, 1998 and the Madhya Pradesh Gram Panchayat (Registration of Colonizer, Terms and Conditions) Rules, 1999, the development expenses approved by the competent officer and set forth in the document, shall be the amount secured.
3. (c) When a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above mentioned purpose, where the principal or primary security is duly stamped.

Mortgage of a Crop, including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop whether the crop is or is not in existence at the time of the mortgage.

Notarial Act, that is to say, any instrument, endorsement, note, attestation, certificate or entry not being a protest (No. 51) executed by a Notary public in the execution of the duties of his office, or by any other person lawfully acting as a Notary public.

Note or Memorandum, sent by a broker or agent to his principal intimating the purchase or sale on account of such principal-

1. (a) of any goods exceeding in value one hundred rupees. Two rupees for every rupees one lakh or part thereof, subject to a maximum of fifty rupees.
2. (b) of any share, scrip, stock, bond, debenture, debenture stock or other marketable security of a like nature exceeding in value one hundred rupees, not being a Government Security. Rupees two for every one lakh or part thereof, of the value of the security at the time of its purchase or sale, as the case may be, in case of non-delivery- based transactions; and one rupee for every rupees 10,000 or part thereof in case of delivery-based transactions.
3. (c) of a Government Security. One rupee for every rupees ten thousand or part thereof, of the value of the security, at the time of its purchase or sale, as the case may be, subject to maximum of five thousand rupees. Explanation - For the purpose of clause(a) of this article, the record of transaction (electronic or otherwise) relating to future and option trading and forward contracts of goods described in clause
4. (a) effected by the firm for itself or by proprietor for himself, who is a trading member through stock exchange or an association as defined in clause
5. (a) of section 2 of the Forward Contract (Regulation) Act, 1952 (No.74 of 1952) shall be deemed to be a Note or Memorandum.

Fifty rupees.

1. (i) when made within the family members. Half of the duty as a conveyance (No. 25) on the market value of the separated share or shares of the property.
2. (ii) in any other case, The same duty as a conveyance (No. 25) on the market value of the separated share or shares of the property. Note- The largest share remaining after the property is partitioned (or if there are two or more shares of equal value and not smaller than any of the other share, then one of such equal shares) shall be deemed to be that from which the other shares are separated, Explanation-I - For the purpose of this article, the term "family" shall mean mother, father, wife, husband, son, daughter, brother, sister, granddaughter and grandson.. Explanation-II- When an instrument of partition containing an agreement to divide property in severalty is executed and a partition is effected in pursuance of such agreement, the duty chargeable upon the instrument effecting such a partition shall be reduced by the amount of duty paid in respect of the first instrument, but shall not be less than one thousand rupees. Explanation-III- Where the instrument relates to the partition of agricultural land exclusively (not situated within urban or planning area, or any other area as may be specified), the market value for the purpose of duty shall be calculated at hundred times the annual land revenue. Explanation-IV- Where a final order for effecting a partition passed by any Revenue-authority or Civil Court or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition and an instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not be less than one thousand rupees.

A. Instrument of -

1. (a) where there is no share of contribution in partnership or where such share of contribution does not exceed Rs. 50,000. Two thousand rupees.
2. (b) where such share of contribution is in excess of Rs. 50,000. Two percent of the shares contributed, subject to a minimum of rupees two thousand and a maximum of rupees ten thousand.
3. (c) where such share of contribution is brought by way of immovable property. Two percent on the market value of 5. Amendment of Section For Section 41 of the principal Act, the following section shall be substituted, namely:- Instrument unduly stamped by accident. "41. If any instrument chargeable with duty and not duly stamped, not being a receipt or a bill of exchange or promissory note, is produced by any person of his own motion before the Collector within one year from the date of its execution or first execution, and such person brings to the notice of the Collector the fact that such instrument is not duly stamped and offers to pay to the Collector the amount of the proper duty, or the amount required to make up the same, together with an interest of one percent of the deficient portion of stamp duty for every month or part thereof, from the date of execution of the instrument till date of payment, and the Collector is satisfied that the omission to duly stamp such instrument has been occasioned by accident, mistake or urgent necessity, he may, receive such amount and proceed as next hereinafter prescribed.".