The Indian Stamp Act

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Description
An exhaustive commentary on the Central Legislation, State Acts along-with extracts from relevant allied State Acts, and including Rules, Schedules, and Notifications
The Indian Stamp Act, 1899 (Central Act 2 of 1899) has been in effect for almost 121 years now, which is a very long span for an enactment. The Indian Stamp Act, 1899 applies to the whole of India including Jammu and Kashmir. The words "except the State of Jammu and Kashmir" have now been omitted by the Jammu and Kashmir Reorganisation Act, 2019 (34 of 2019), section 95 and the Fifth Schedule (w.e.f. 31-10-2019). The Act is a fiscal statute laying down the law relating to tax levied in the form of Stamp Duty on Instruments recording Transactions. Stamp duty on instruments specified in Entry 91 of List I-Union List of Schedule VII to the Constitution of India (viz. Rates of stamp duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts) is levied by the Union or the Central Government under the Central Act. Stamp duties on the Instruments or Transactions other than those mentioned in Entry 91 of List I-Union List above are levied by the States as per Entry 63 of List II-State List of Schedule VII to the Constitution of India (viz. Rates of stamp duty in respect of documents other than those specified in the provisions of List I with regard to rates of stamp duty. Provisions other than those relating to Rates of Stamp Duty fall within the legislative power of both the Union and the States by virtue of Entry 44 of List II-Concurrent List of the said Schedule VII to the Constitution of India (viz. Stamp duties other than duties or fees collected by means of judicial stamps, but not including rates of stamp duty), Stamp duties on all the instruments are collected and kept by the Concerned States
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Contents
The Indian Stamp Act, 1899
Chapter I - Preliminary [Ss. 1 To 2(27)]
Chapter II - Stamp Duties [Ss. 3 To 30]
Chapter Ill - Adjudication as to Stamps [31 To 32]
Chapter IV - Instruments Not Duly Stamped [Ss. 33 to 48]
Chapter V - Allowances for Stamps in Certain Cases [Ss. 49 to 55]
Chapter VI - Reference and Revision [Ss. 56 To 61]
Chapter VII - Criminal Offences and Procedure [Ss. 62 To 72]
Chapter VIII - Supplemental Provisions [5s. 73 To 79]
Schedule I - Stamp Duty on Instruments [Arts. 1 To 65]
Schedule I-A Stamp Duty on Certain Instruments (SCH-1A-Added in Some States)
Appendix A to D
Subject-Index
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Author Details
K. Krishnamurthy
S. K Kataria