section 6
Fifty rupees.
The Indian Stamp (Madhya Pradesh Amendment) Act, 1958Tax195821 sections
Statutory text
Agreement of Memorandum of an agreement-
- (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.
- (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
- (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)
- (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.
- (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.
- (f) If relating to hire- purchase of immovable property. The same duty as a conveyance (No. 25) on the market value of the property.
- (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.
- (h) If not otherwise provided for.
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