THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in

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3 [Provided that the clearance list described in Article 19,20,21,22, or 23 ofSchedule I may be stamped by an officer authorized by the StateGovernment by rules made under this Act, if such clearance list issubmitted by the clearing house of an Association in accordance with itsrules and bye-laws with the requisite amount of stamp duty, within twomonths from the date of its execution]_______________________1. These words were added, by Mah. 27 of 1985, s.12 (w.e.f. 10-12-1985).2. Added, by Mah. 17 of 1993, s.31 (w.e.f. 10-12-1985).3. These proviso was substituted for the original by Bom. 95 of 1958, s.318. Instruments executed out of state.(1) Every instrument chargeable with duty executed only out of this Statemay be stamped within three months after it has been first received inthis State.(2) Where any such instrument cannot with reference, to the description ofstamp prescribed therefore,19. Payment of duty on certain instruments 1 [or copies thereof] liable toincreased duty in 2 [Maharashtra State.]Where any instrument of the nature described in any article inSchedule I and relating to any property situate or to ;any matter orthing done or to be done in this State is executed out of the State andsubsequently3 [such instrument or a copy of the instrumentis]received in the State,-(a)(b)(c)the amount of duty chargeable on such instrument4 [or a copy of the instrument] shall be the amount ofduty chargeable under Schedule I on a document ofthe like description executed int his State less theamount of duty, if any, already paid under any law inforce in India excluding the State of Jammu andKashmir on such instrument when it was executed;and in addition to the stamps, if any, already affixedthereto such instrument 4 [or a copy of the instrument]shall be stamped with the stamps necessary for thepayment of the duty chargeable on it under (a) of thissection, in the same manner and at the same time andby the same persons as though such instrument 1 [or acopy of the instrument] were in instrument received inthis State for the first time at the time when it becamechargeable with the higher duty; andthe provisions contained in clause (b) of the proviso tosub-section (3) of section 32 shall apply to suchinstrument 1 [or a copy of such instrument] as is such werean instrument executed or first executed out of this Stateand first received in this State when it became chargeableto the higher duty aforesaid, but the provisions containedin clause (a) of the said proviso shall not apply therto.
(d) Of Valuation from Duty20. Conversion of amount expressed in foreign currencies.(1) Where an instrument is chargeable with ad valorem duty in the respectof any money expressed in any currency other than that of India, suchduty shall be calculated on the value of such money in the currency ofIndia according to the current rate of exchange on the day of the dateof the instrument.______________________1. Inserted by Mah. 17 of 1993, s.32(b) (w.e.f. 1.5.1993)(2) The rate of exchange for the conversion of Brititsh or any forgingcurrency into the currency of India prescribed under sub-section (2)) ofsection 20 of the Indian Stamp Act,1899, shall be deemed to be thecurrent rate for the purpose of sub-section (1)21. Stock and marketable securities how to be valued.Where an instrument is chargeable with ad valorem duty in respect of anystock or of any marketable or other security, such duty shall be calculatedon the value of such stock or security according to the average price or thevalue thereof on the day of the date of the instrument.22. Effect of instrument of rate of exchange or average price.Where an interest contains a statement of current rate of exchange, oraverage price, as the case may require, and is stamped in accordance withsuch statement, it shall, so far as regards the subject matter of suchstatement, be presented until the contrary is proved to be duly stamped.23. Instrument reserving interest.Where interest is expressly made payable by the terms of an instrument,such instrument shall not be chargeable with duty higher than that withwhich it would has been chargeable had no mention of interest been madetherein.24. Certain instrument connected with mortgages of marketablesecurities to be chargeable as agreements.(1) Where an instrument –(a) Is given upon the occasion of the deposit of anymarketable security by way of security for moneyadvanced or to be advanced by way of load, or for an(b)existing or future debt, orMakes redeemable or qualifies a duly stamped transferintended as a security or any marketable security/It shall be chargeable with duty as if it were an agreement ormemorandum of an agreement chargeable with duty under Article No. 5(h) ofSchedule I.(2) A release or discharge of any such instrument shall only be chargeablewith the like duty.
Page 2 and 3: Constitutional Position -Law relate
Page 4 and 5: to values of property especially in
Page 6 and 7: If the documents creates an obligat
Page 8: Notification - Addition Officers fo
Page 11 and 12: Agreements entered into before 10 t
Page 13 and 14: 3. The Court was constructed severa
Page 15 and 16: and the value of in question may be
Page 17 and 18: considering the correspondence that
Page 19 and 20: eferred to in Section 47A and Rules
Page 21 and 22: includes an instrument by which a p
Page 23 and 24: 5. Instrument relating to several d
Page 26 and 27: (d)with Securities and Exchange Boa
Page 28 and 29: 2. These words were substituted for
Page 32 and 33: 1 [25. How transfer in consideratio
Page 34 and 35: Provided also that, where proceedin
Page 36 and 37: (E) -Duty by whom payable30 . Dutie
Page 39 and 40: Subjective satisfaction to be on ob
Page 41 and 42: 1 [(2) (a) If any officer registeri
Page 43 and 44: 1 [Provided further that, in respec
Page 45 and 46: NotesThe section applies to eight t
Page 47 and 48: he thinks just and proper; and the
Page 49 and 50: instrument from the party and, afte
Page 51 and 52: Government or where it bears the ce
Page 53 and 54: 37. Instruments impounded how dealt
Page 55 and 56: Subjective satisfaction to be on ob
Page 57 and 58: executed, some other person was bou
Page 59 and 60: (a) the stamp on any paper inadvert
Page 61 and 62: 50. Allowance for misused stamps.(1
Page 63 and 64: (2) The Chief Controlling Revenue A
Page 65 and 66: Under sub-section (2) if the Collec
Page 67 and 68: 1 [(4) Without prejudice to the pro
Page 69: 1 [59A. No prosecution und~ section

THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in

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