section 48
Partition- Instrument of -
The Indian Stamp (Madhya Pradesh Amendment) Act, 1958Tax195821 sections
Statutory text
- (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.
- (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.
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