2. Application and amendment of Act 2 of 1899.

(1) The Indian Stamp Act, 1899, in its application to West Bengal (hereinafter referred to as the principal Act), shall be amended for the purpose and in the manner hereinafter provided. (2) In Schedule IA to the principal Act, against item (i) of article 33 in the first column under heading "Description of Instruments", in the second column under heading "Proper Stamp Duty", after the words and symbols "one-half of one per centum of the market value of the property which is the subject matter of the Gift", the words "subject to maximum of rupees one thousand" shall be inserted.