LEASE-including an under-lease or sub-lease and any agreement to let or s-ub-let.- — THE KRRALA STAMP ACT, 1959

LEASE-including an under-lease or sub-lease and any agreement to let or s-ub-let.-

32 LEASE-including an under-lease or sub-lease and any agreement to let or s-ub-let.- (a) Where by such lease the rent is fixed and no premium is paid or deliverd- (i) Where the lease purports to be for a term of less than one year; · )-- .... .4 'I' Prop:;r Stamp duty ' The same dutY as a conveyance (No. 21) for a consideration equal to the total amount of the charge (including the original mortgage and any further charge already made), less. the duty already paid on such original mortgage and further charge. The same duty as a Bottomry Bond (No. 14) for the amount of the further charge secured by such instrument. The same duty as a conveyance (No. 21) for a consideration equal to the value of the property as set forth in the instrument. The same duty as a Security Bond (No. 49) for the same amount. The same duty as a Bottomry Bond (No. 14) for the whole amount payable or deliverable under such lease. (il) Where the lease purports to be for a term of less than one year but not more than 5 years; (ii1) Where the lease purports to be for a term exceeding 5 years but not exceeding 10 years; (h·) Where the lease purports to for a term exceeding 10 years but not exceeding 20 years; (v) Where the lease purports to be for a term exceeding 20 years but not exceeding 30 years; (vi) Where the lease purports to be for a term exceeding 30 yPars but r.ot exceeding one hundred years; Where the lease purports '\o be for a term exceeding 100 years or in perpetuity; (viii) Where the lease does not purport to be for any definite term -- ... f The same duty as a Bottomry Bond (No. 14) for the amount or value of the average annual rent reserved. The same duty as a Conveyance (No. 21) for a consideration equal to the amount cr value of the average annual rent reserved. The same duty as a Conveyance (No 21) for a consideration equal to 'twice the amount or value of the average annual rent reserved The same duty as a Conveyance (No. 21) for a consideration equal to three times the amount or value of the aver.age rent reserved The same 9uty as a Conveyance (No 21) for a consideration equal to four times the amount or value of the average annual rent reservecl. The same duty as a Conveyance (No 21) for a consideration equal to one sixth of the whcMe amount of rents which would be paid or delivered in respect of the first fifty years of the lease. · The same duty as a Conveyance (No 21) for a consideration equal to three times the amount or value of the average annual rent whick would be paid or delivered for the first ten years if the lease contim:ed so long . . ~~- - Sl. A'o lJcscrzpLtoll uj wslrumwl (b) Where the lease is granted for a fine or pre. mium or for money arlvanced and where no rent is reserved. (c) \Vhere the tease is granted for a fine or premium or for money advanced in addition to rent reserved. Exemptions {a) Lease, executed in the case of a cultivator and for the purposes of cultivation (including a tease of trees fvr the production of food or drink), without the payment or clelivery of aoy fine or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent rcserv. ed does no exceed one hundred rupees. ... Prope1 sLamp dnly The same duty as a Conveyance (No. 21) for a consideration equal to the amount or value of such fine or premium or advance as set forth in the tease. The s.ame duty as a Conveyance (No. 21) for a consideration equal to the amount or value of such fine or premium or advance as set forth in the lease in addition to the duty which would have been payable on such lease if no fine or premium or advance had been paid Of' -deiivered: Provided that in any case where an agreement to lease is stamped with advalorem stamp required for a lease and a lease in pursuance of such agreement is subsequently executed the duty on such lease shalt not elC.ceed one :-upee th1rty naye paise. . ~ ---~------------------------___.) ..... Exf>/mwlron:-When a lessee undertakes to pay any recurring such ac; Government revenues, the land-lordts share of cesses, or the ownerts share of Municipal rates or taxes, which is by law recoverable from the lessor, the amount so agreed 10 be pa1d t.y the lessee shall be deemed to be part vf the rent (b) Leases of fisheries granted by theGovernment.

Section 32