Rajasthan Stamp Act 1998

No: 14 Dated: Mar, 24 1999

Rajasthan Stamp Act 1998

(Rajasthan Act No. 14 of 1999)

An Act to consolidate and amend the law relating to Stamps in the State of Rajasthan.

Be it enacted by the Rajasthan State Legislature in the Forty-ninth Year of the Republic of India as follows:-

CHAPTER I

Preliminary

1. Short title, extent and commencement. - (1) This Act may be called the Rajasthan Stamp Act, 1998.

(2) It extends to whole of the State of Rajasthan.

(3) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint.

2. Definitions. - In this Act, unless there is something repugnant in the subject or context. -

(i) "air rights" shall mean rights to construct upper floors for sale and use, independent of the existing building;

(ii) "Banker" means an association, a company or a person who accepts, for the purpose of lending or investment, deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise within the territories of India;

(iii) "bill of exchange" means a bill of exchange as defined by the Negotiable Instruments Act, 1881 (Act No. 26 of 1881) and includes also a hundi, and any other document entitling or purporting to entitle any person, whether named therein or not to payment by any other person of, or to draw upon any other person for, any sum of money;

(iv) "bill of exchange payable on demand" includes,-

(a) an order for the payment of any sum of money by a bill of exchange or promissory note or for the delivery of any bill of exchange or promissory note in satisfaction of any sum of money, or for the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen,

(b) an order for the payment of any sum of money weekly, monthly or at any other stated period, and

(c) a letter of credit, that is to say, any instrument, by which one person authorises another to give credit to the person in whose favour it is drawn;

(v) "bill of lading" includes a "through bill of lading" but does not include a mate's receipt;

(vi) "bond" includes,-

(a) any instrument whereby a person obliges himself to pay money to another, on condition that the obligation shall be void if a specified act is performed, or is not performed, as the case may be;

(b) any instrument attested and not payable to order or bearer, whereby a person obliges himself to pay money to another; and

Explanation. - For the purpose of this clause "attested" means attested by one or more witnesses each of whom has seen the executant sign or affix his mark to the instrument or has seen some other person sign the instrument in the presence and by the direction of the executant, or has received from the executant a personal acknowledgment of such signature or mark of the signature of such other person, and in which each of whom has signed the instrument in the presence of the executant; but it shall not be necessary that more than one of such witnesses shall have been present at the same time, and no particular form of attestation shall be necessary.

(vii) "chargeable" means, as applied to an instrument, executed or first executed after the commencement of this Act, chargeable under this Act, and, as applied to any other instrument, chargeable under the law in force in India when such instrument was executed or, where several persons executed the instrument at different times, first executed;

(viii) "cheque" means a bill of exchange, drawn on a specified banker, and not expressed to be payable otherwise than on demand;

(viii-A) "Chief Controlling Revenue Authority" means Rajasthan Tax Board constituted under Section 90 of the Rajasthan Sales Tax Act, 1994 (Act No. 22 of 1995);

(ix) "clearance list" means a list of transactions relating to contracts required to be submitted to the clearing house of an association in accordance with the rules or bye-laws of the association:

Provided that no instrument shall, for the purpose of this Act, be deemed to be a clearance list unless it contains the following declaration signed by the person dealing in such transaction or on his behalf by a properly constituted attorney, namely:-

"I/We hereby solemnly declare that the above list contains a complete and true statement of my/our transactions including crossed out transactions and transactions required to be submitted to the clearing house in accordance with the rules/bye-laws of the association. I/We further declare that no transaction for which an exemption is claimed under Article 5 or Article 36 in Schedule to the Rajasthan Stamp Act, 1998, as the case may be, is omitted."

(x) "Collector" includes any officer whom the State Government may, by notification in the Official Gazette appoint in this behalf;

(x-a) "Concession agreement" means an agreement involving a grant of rights, land or property by the State Government, local authority, public sector undertaking or other statutory entity to provide some service on commercial basis using such assets of the State Government or a local authority or a public sector undertaking, as the case may be, subject to certain conditions;

(xi) "Conveyance" includes,-

(i) a conveyance on sale,

(ii) every instrument,

(iii) every decree or final order of any Civil Court,

(iv) every order made by the High Court under section 394 of the Companies Act, 1956 (1 of 1956) in respect of amalgamation of the companies,

(v) sale of air rights,

(vi) sale/consent related to below surface rights,

by which properly, whether movable or immovable, or any estate or interest in any property is transferred to, or vested in, any other person, intervivos, and which is not otherwise specifically provided for by the schedule;

(xii) "duly stamped" as applied to an instrument, means that the instrument bears an adhesive or impressed stamp of not less than the proper amount and that such stamp has been affixed or used in accordance with law for the time being in force in the state;

(xiii) "executed" and "execution" used with reference to instruments, mean "signed" and "signature";

(xiv) "Government security" means a Government security as defined in the Public Debt Act, 1944 (Act No. 18 of 1944);

(xv) "immovable property" includes land,.benefits to arise out of land and things attached to the earth, or permanently fastened: to any thing attached to the earth, but shall not include standing timber, growing crops or grass;

(xvi) "impressed stamp" includes,-

(a) labels affixed and impressed by the proper officer, and

(b) stamps embossed or engraved on stamped paper;

(xvii) "India" means the territory of India excluding the State of Jammu and Kashmir;

(xviii) "Inspector General of Stamp" means the Inspector General, Registration & Stamps appointed by the State Government;

(xix) "instrument" includes every document by which any right or liability is, of purports to be, created, transferred, limited, extended, extinguished, or recorded;

(xx) "instrument of partition" means any instrument whereby co-owners of any property divide, or agree to divide such property in severalty, and includes,-

(i) a final order for effecting a partition passed by any revenue authority or any Civil Court,

(ii) an award by an arbitrator directing a partition, and

(iii) when any partition is effected without executing any such instrument, any instrument or instruments signed by the co-owners and recording, whether by way of declaration of such partition or otherwise, the terms of such partition amongst the co-owners;

(xxi) "lease" means a lease as defined in section 105 of the Transfer of Property Act, 1882 (Act No. 4 of 1882), a lease of immovable property or movable property, or of both, and includes also,-

(a) a patta,

(b) a kabuliyat, or other undertaking in writing, not being a counterpart of a "lease", to cultivate, occupy, or pay or deliver rent for, immovable property,

(d) any writing on an application for a lease intended to signify that the application is granted,

(e) any agreement to lease,

(f) a declaratory decree or final order of any Civil Court in respect of lease:

Provided that, where subsequently an instrument of lease is executed in pursuance of such decree or order, the stamp duty if any, already paid and recovered on such decree or order shall be adjusted towards the total duty leviable on such instrument;

(xxi-a) "Leave and Licence" means any instrument, whether called leave or licence or called by any other name, by which one person grants to another, or to a definite number of other persons, a right to do, or continue to do, in or upon the immovable property of the granter, something which would, in the absence of such right, be unlawful, and such right does not amount to an easement or an interest in property; and

(xxii) "duly stamped" as applied to an instrument, means that the instrument bears an adhesive or impressed stamp of not less than the proper amount and that such stamp has been affixed or used in accordance with law for the time being in force in the state;

(xxiii) "market value" in relation to any property, which is the subject matter of an instrument, means the price which such property would have fetched or would fetch if sold in open market on the date of execution of such instrument as determined by in such manner and by such authority as may be prescribed by rules made under this Act or the consideration stated in the instrument, whichever is higher;

(xxiii) "market value" in relation to any property, which is the subject matter of an instrument, means the price which such property would have fetched if sold in open market on the date of execution of such instrument, or the consideration stated in the instrument, which-ever is higher;

(xxiv) "mortgage deed" includes every instrument, whereby, for the purpose of securing money advanced, or to be advanced, by way of loan, or an existing or future debt, or the performance of any engagement, one person transfers, or creates to, or in favour of, another, a right over or in respect of specified property;

(xxv) "movable property" includes standing timber, growing crops and grass, fruit upon and juice in trees, and property of every other description, except immovable property;

(xxvi) "paper" includes vellum parchment or any other material on which an instrument may be written;

(xxvii) "policy of insurance" includes,-

(a) any instrument by which one person, in consideration of a premium, engages to indemnify another against loss, damage or liability arising from an unknown or contingent event;

(b) a life policy and any policy insuring any person against accident or sickness, and any other personal insurance;

(xxviii) "policy of group insurance" means any instrument covering, not less than fifty or such smaller number as the Central Government may approve, either generally or with reference to any particular case, by which an insurer, in consideration of a premium paid by an employer or by an employer and his employees jointly, engages to cover with or without medical examination and for the sole benefit of persons other than the employer, the lives of all the employees or of any class of them, determined by conditions pertaining to the employment, for amounts of insurance based upon a plan which precludes individual selection;

(xxix) "policy of sea-insurance" or "sea-policy",-

(a) means any insurance made upon any ship or vessel (whether for marine or inland navigation), or upon the machinery, tackle or furniture of any ship or vessel, or upon any goods, merchandise or property of any description whatever on board of any ship or vessel, or upon the freight of, or any other interest which may be lawfully insured in, or relating to, any ship or vessel, and

(b) includes any insurance of goods,, merchandise or property for any transit which includes, not only a sea risk within the meaning of clause (a), but also any other risk incidental to the transit insured from the commencement of the transit to the ultimate destination covered by the insurance,

Explanation. - Where any person in consideration of any sum of money paid or to be paid for additional freight or otherwise, agrees to take upon himself any risk attending goods, merchandise or property of any description whatever while on board of any ship or vessel, or engages to indemnify the owner of any such goods, merchandise or property from any risk, loss or damage, such agreement or engagement shall be deemed to be a contract for sea insurance;

(xxx) "power of Attorney" includes any instrument, (not chargeable with a fee under the law relating to court fees for the time being in force) empowering a specified person to act for and in the name of the person executing it and includes an instrument by which a person, not being a person who is legal practitioner, is authorized to appear on behalf of any party in any proceeding before any Court, Tribunal or Authority;

(xxxi) "promissory note" means a promissory note as defined by the Negotiable Instruments Act, 1881 (Act No. 26 of 1881); it also includes a note promising the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen;

(xxxii) "public officer" means a public officer as defined in clause (17) of section 2 of the code of Civil Procedure, 1908 (Act No. 5 of 1908);

(xxxiii) "receipt" includes any note, memorandum or writing,-

(a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or

(b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or

(c) whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or

(d) which signifies or imports any such acknowledgment, and whether the same is or is not signed with the name of any person;

(xxxiv) "settlement" means any non-testamentary disposition, in writing, of movable or immovable property made,-

(a) in consideration of marriage,

(b) for the purpose of distributing property of the settler among his family or those for whom he desires to provide, or for the purpose of providing for some person dependent on him, or

and includes an agreement in writing to make such a disposition and, where any such disposition has not been made in writing, any instrument recording, whether by way of declaration of trust or otherwise, the terms of any such disposition;

(xxxv) "soldier" includes any person below the rank of noncommissioned officer who is enrolled under the Army Act, 1950 (Act No. 46 of 1950); and

(xxxvi) "Stamp" means any mark, seal or endorsement by any agency or person duly authorized by the Inspector General of Stamps and includes an adhesive or impressed stamp, for the purposes of duty chargeable under this Act.

Full Document