Ins. by Bihar (Amdt.) Act, 15 of 198B, a: See footnote at page 9 — THE INDIAN STAMP ACT, 1899 (2 of 1899)

1. Ins. by Bihar (Amdt.) Act, 15 of 198B, a: See footnote at page 9 a: (Amdt.) Act, 15 of 1 See footnote at page 92. No. 56 (Respondentia Bond), No. 57 (Security Bond or Mortgage-deed), No. 58 (Settlement), No.62(b) c (Transfer of debentures, being marketable securities whether the to duty or not, except debenture provided for (Transfer of debentures, being marketa debenture is liable to duty or not, except debenture provided for by section 8), No.62(a) ment), (Transfer of shares in an incorporated company or other body corporate), (Transfer o corporate), No.62(c) (Transfer of any interest secured by a bond, mortgage-deed or policy of insurance) — by the person drawing, making or executing such instrument; ing the insurance; (bb) in the case of a policy of fire-insurance — by the person issuing the policy. mortgaged by the person dr (b) in the case of a policy of insurance other than fire-insurance-by the person effecting the insurance; (bb) in the (c) in the case of a conveyance (including a reconveyance of mortgaged ; in the case of a lease or agreement to lease - by the (c) in the case of a conveyance (including a reconveyance property) by the grantee; in the case of a lease or agreement to lease - by the e ded e; prope lessee or intended lessee; (d) in the case of a counterpart of a lease — by the lessor; (e) in the case of an instrument of exchange — by the parties in equal shares; to (e) (f) in the case of a certificate of sale - by the purchaser of the property to which such certificate relates; and (g) in the case of an instrument of partition — by the parties thereto in proportion ve shares in the whole property partitioned, or when the partition is (g) in the case of an instrument of partition — by the parties to their respective shares in the whole property partitioned, or when the partition is er passed by a Revenue authority or Civil Court or to their respective shares in the whole property partition made in execution of an order passed by a Revenue authority or Civil Court or roportion as such authority, Court or arbitrator directs, made in execution of an order passed by a Revenue aut arbitrator, in such proportion as such authority, Court or arbitrator directs, Comments & Case-law [The contention that the stamp of the sale deed have been purchased on the ate, they bear different numbers, they have not been used within six [The contention that the stamp of the sale deed have been purchased different date, they bear different numbers, they have not been used within six their purchase and as such the sale deed is not duly stamped. Therefore different date, they bear different numbers, they months of their purchase and as such the sale deed is not duly stamped. Therefore ty be imposed months of their purc the sale deed be impounded and requisite stamped duly and penalty be imposed rtained. Bhanwar Lal vs. Tejmal AIR 1990 Raj 1.] the sale deed be impounded and requisite sta cannot be entertained. Bhanwar Lal vs. Tejmal AIR 1990 Raj 1.] Obligation to give receipt in certain cases. — Any person receiving Any person receiving or taking credit for any premium or consideration for any l of any contract of fire-insurance shall, within one month after receiving or taking Any person receiving or taking credit for any premium or consideration for any renewal of any contract of fire-insurance shall, within one month after receiving or taking Credit for such premium or consideration, give a duly stamped receipt for the same. CHAPTER Ill ADJUDICATION AS TO STAMPS Adjudication as to propor stamp. — (1 ) When any instrument, whether and the person bringing it applies to have the opinion of that officer as to the duty (if any) with which it is chargeable, and pays a fee of such amount (not exceeding five rupees and not less than fifty naye paise) as the Collector may in each case direct, the Collector shall determine the duty (if any) with which, in his judgment, the rupees and not less than fifty naye paise) as the Collector may in each case direct, the Collector shall determine the duty (if any) with which, in his judgment, the instrument is chargeable. For this purpose, the Collector may require to be furnished with an abstract of the instrument, and also with such affidavit or other evidence as he may deem necessary to prove that all the facts and circumstances affecting the chargeability of the ir:strument with duty, or the amount of the duty with which it is chargeable, are fully and truly set forth therein, and may refuse to proceed upon any such application of the ir:strument with duty, or the amount of the duty with which it is chargeable, are fully and truly set forth therein, and may refuse to proceed upon any such application until such abstract and evidence have been furnished accordingly: fully and truly set forth therein, and may refuse to proceed upon any Provided that — (a) no evidence furnished in pursuance of this section shall be used against erson in any civil proceeding, except in an inquiry as to the duty with which the (a) no evidence furnished in pursuance of this section shall be used against any person in any civil proceeding, except in an inquiry as to the duty with which the instiument to which it relates is chargeable; and (b) every pe:son by whom any such evidence is furnished, shall, on payment of the full duty with winich the instrument to which it relates, is chargeable, be relieved from any penalty which he may have incurred under this winich the instrument to which it relates, is chargeable, be relieved from any penalty which he may have incurred under this Act by reason of the omission to state truly in such instrument any of the facts or circumstances aforesaid. under this Act by reason of the om to state truly in such instrument any of the facts or circumstances aforesaid. Comments & Case-law [Avoidance of tax is no offence. Evasion of tax is offence. Every man is d [Avoidance of tax is no offence. Evasion of tax is offence. Every man is entitled to arrange his affairs in such a manner as to reduce his tax liability to minimum. Question is of leg his tax liability to minimum. Question is of legality. Question of morality does not arise. Urmila Devi vs. State, 2007(3) PLUR 734.] estion is of legalit vs. State, 2007(3) PLUR 734.] Certificate by Collector.— (1) When an instrument brought to the Collector 32. Certificate by Collector.— (1) When an instrument brought to the Collector under section 22 is, in his opinion, one of a description chargeable with-duty, and— (a) the Collector determines that it is already fully stamped, or (b) the duty determined by the Collector under section 31, or such a sum as, with the duty already paid in respect of the instrument, is equal to the duty so, determined has been paid, the Collector shall certify by endorsement, on such instrument, that he fill the Collector shall certify by endorsement, on such instrumen du'y (stating the amount) with which it is chargeable has been paid. When such instrument is, in his opinion, not chargeable with duty, the Cotector shall certify in manner aforesaid that such instrument is not so chargeable. Any instrument upon which an endorsement has been made under this section, Provided that r:othing in this section shall authorise the Collector to enaorse— (a) any instrument [other than an instrument chargeable with a duty under clause (bb) of the first proviso to section 2] executed or first executed in India and brought t> him after the oxpiration of one month from the date of its execution or first ex.acution, as 1.3 casc may he; iP) any instrument executed or first executed out of and brought to nim after the expiration of three months after it has been first received in India: (c) any i::ctrument chargeable with a duty not exceeding ten naye paise or any bi of exchange or promissory note, when brought to him, after the drawing or execution thereof; cn paper not duly stamed; or

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