Exemption from certain taxes, duties and fees

General200162 sections8 chapters

Chapter 10 MISCELLANEOUS

Statutory text

(1) The Government may, by notification in the official gazette, exempt or remit in respect of any Co-operative or class of Co-operatives—
- (a) the stamp duty chargeable under any law for the time being in force in respect of all class of instruments executed by or on behalf of a Co-operative or by an officer or member thereof and relating to the business of such Co-operative or in respect of any award or order made under this Act, in cases where, but for such remission the Co-operatives, its officer or member as the case may be, would be liable to pay such stamp duty; or
- (b) any fee payable under any law for the time being in force relating to the registration of documents or court fees: Provided that nothing in clause
- (a) shall apply in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policy of insurance, transfer of shares, debentures, Proxies and receipts.
(2) The Government may, by notification, exempt any class of Co-operatives from taxes on—
- (a) agricultural income;
- (b) sale or purchase of goods; or
- (c) professions, trades, calling and employment.

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