Subs. by Bihar (Amadt.) Act, 15 ol 1988. — THE INDIAN STAMP ACT, 1899 (2 of 1899)

1. Subs. by Bihar (Amadt.) Act, 15 ol 1988. s to sell the same to any othe, eenre immediately to the sub. s to sell the same to any othe, having obtained a conveyance inere sphachigeeeenre immediately to the sub. of pe hee ene nce inere sphachigeeeenre immediately to the sub. shall be chargeHels with ad valorem duty in respect of original purchaser to the sub-purchaser. "[or the pe hee ene shall be chargeHels with ad valorem ee craiieey tore sale by the original purchaser to the sub-purchaser. value of the property, whichever !s higher, '] pect of "[or the ee craiieey tore sale by the market value of the property, whichever !s higher, '] for the t value of the property, whichever (4) Where a person, having contracted for the hee ao aneney ee not obtained a conveyance piel onary aba a ce ar ie a eu (4) Where a person, having contracted for the hee ao having obtained a conveyance piel onary aba a ce ar ie a eu or persons ang tne p btained her person or persons ang to different persons tne p her person or persons ang tne p penal eae to different persons in parts, the conveyance of each Lys ape toa with ad valorem duty Pk : oe the penal eae to different persons sub-purchaser shall be chargeable with ad valorem duty Pk by such sub purchaser, [or the market value fe) a P : oe the sub-purchaser shall be chargeable with ad consideration paid by such sub purchaser, [or the market value fe) a Pat wi ichever or value of the original consideration; and the consideration paid by such sub purchaser, is higher] without regard to the amount or value of the original consideration; and the such property to the original purchaser shall be is higher] without regard to the amount conveyance of the residue (if any) of such property to the original purchaser shall be duty in respect only of the excess of the original conveyance of the residue (if any) of such chargeable with ad valorem duty in respect only of the excess of the original consideration over the aggregate of the considerations paid by the sub-purchaser, whichever is higher] '[or the market value of such residue: Provided that the duty on such last-mentioned conveyance shall in no case be less than one rupee. (5) Where a sub-purchaser takes an actual conveyance of the interest of the person immediately selling to him, which is chargeable with ad valorem duty in respect of the consideration paid by him '[or the market value of the property which is the subject matter of the conveyance, whichever is higher] and is duly stamped accordingly, any conveyance is higher] and is duly stamped accordingly, any conveyance to be afterwards made to him of the same property by the original seller shall be chargeable with a duty equal conveyance to be afterwards made to him of the same property by the original seller shall be chargeable with a duty equal to that which wou!d be chargeable on a conveyance for duty equal to that which wou!d be chargeable on a conveyance for the consideration obtained by such original seller, 'for the market value of such property whic the consideration obtained by such original seller, 'for the market value of such property whichever is higher], or, where such duty would exceed five rupees, with a duty of five ch property whichever is would exceed five rupees, with a duty of five rupees, E — Duty by whom payable *[29, Duties by whom payable.—In the absence of an agreement to the ry, the expense of providing the proper stamp shall be bor Duties by whom payable.—In the absence of an agre contrary, the expense of providing the proper stamp shall be borne — (a) in the case of any ins amp shall be borne — (a) in the case of any instrument described in any of the following Articles of ule 1, namely :— Schedule 1, namely :— No. 2 (Administration Bond), No. 6 (Agreement relating to Deposit of Title deeds, Pawn or Pledge), No. 13 (Bill of Exchange), No. 13 (Bill of Exchange), No. 15 (Bond), No. 16 (Bottomry Bond) No. 26 (Customs Bond), No. 27 (Debenture), No. 32 (Further Charge), No. 34 (Indemnity Bond), No. 39 ((Promissory note), No. 40 (Mortgage-deed), No. 55 (Release),

Section 1