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

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in evidence or otherwise, and may be acted upon and registered as if it had been riginallyduly stamped:Provided that nothing in this section shall authorise the Collector to endorse -(a) any instrument executed or first executed in the State and brought to him after theexpiration of one month from the date of its execution or first execution as the case maybe; .(b) any instrument executed or first executed out of the State and brought to him after theexpiration of three months after it has been first received in this State, or(c) any instrument chargeable with the duty of twenty naye paise or less when brought tohim, after the drawing or execution thereof, on paper not duly stamped.Effective adjudicationIf the collector certifies by endorsement on the document the fact of payment of the fullduty, then one adjudication becomes effective.[C.C.R.A. v. Dr: Majunatha Rao AIR 1977 Mad. 10 (F.B.)].1 [32A. Instrument of conveyance, etc. undervalued how to be dealt with.(1) Every instrument of conveyance, exchange, gift, certificate of sale, deed ofpartition or power of attorney to sell immovable property when given for consideration,deed of settlement or transfer of lease by way of assignment, presented for registrationunder the provisions of Registration Act, 1908, shall be accompanied by a true copythereof:Provided that, in case of such instruments executed on or after the 4th July 1980,to the date of commencement of the Bombay Stamp (Amendment) Act, 1985, an extractof the instrument to be taken from the registration record shall be deemed to be the truecopy accompanying the instrument, presented for registration for the purposes of subsection(1).________________________1. Section 32A shall be deemed to have been substituted with effect from the 4th July 1980 byMah. 27 of 1985, s. 19
1 [(2) (a) If any officer registering such instrument has reason to believe, on the basis of theinformation available with him in this behalf, that the market value of the immovable propertywhich is the subject matter of such instrument has not been truly set forth therein, he may,immediately after presentation of such instrument, give a notice to the person who is liable to paythe stamp duty under section 30, calling upon such person to pay the deficit amount of stamp dutyand 2 [a penalty at the rate of 2 per cent of the deficient portion of the stamp duty, for every monthor part thereof] from the date of execution of such instrument. If such person is willing to pay theamount of the deficit stamp duty and penalty thereon, the registering officer shall accept thepayment. The procedure laid down in sub-section (3) of section 10 shall, mutatis mutandis, applyto such payment:3 [Provided that, in no case, the amount of the penalty shall exceed double the deficient portion ofthe stamp duty.](b) If such person does not make the payment within one month of receipt of the notice referredto in clause (a), then the registering officer shall, before registering the instrument, refer the truecopy of such instrument to the Collector of the District for determination of the true market valueof such property and the proper duty payable on the instrument;(c) It shall be lawful for the registering officer to issue similar notices in respect of the instrumentpresented for registration before the date of commencement of the Maharashtra Tax Laws (Levy,Second Amendment and Validation) Act, 1996 where the true market value of the immovableproperty which is subject matter of such instrument has not been determined by the Collector ofthe District. On the receipt of such notice, if the person liable to pay the stamp duty makes suchpayment within one month from the date of such receipt, and also pays the fixed penalty of rupees250, he shall not be liable to make any further payment of penalty at the rate 4[of 2 per cent of thedeficient portion of the stamp duty, for every month or part thereof] from the date of executionand on such payment being made, the reference already made to the Collector of the District shallabate]:5 [Provided that, in no case, the amount of the penalty shall exceed double thedeficient portion of the stamp duty.]__________________________1. Sub-section (2) Was substituted by Mah. 9 of 1997. s. 9(a), (w.e.f 15.9.1996), prior to itssubstitutton read as under:-(2) If any Officer registering such instrument has reason to believe that the market value of theimmovable property which is the subject matter of such instrument has not been duly set forththerein, he may before registering the instrument, refer the true copy of such instrument to theCollector of the District for determination of the true market value of such property and theproper duty payable on the instrument.2. These words were substituted for the words "penalty” at the rate of 15 percent, on the deficitamount of the stamp duty for every year or part thereof' by the Mah. Tax Laws (Levy,Amendment and Validation) Act, 30 of 1997. s. 3(a)(i) (w.e.f.15.5.1997).3. This proviso was added as Amended by Mah. Tax Laws (Levy and Amendment) Act, 2001, s.3(a)(i).4. These words were substituted for the words "of 15 per cent of the deficit amount of the stampduty" by Mah. Tax Laws (Levy. Amendment and Validation) Act, 30 of 1997. s. 3(a)(ii) (w.e.f.15.5.1997).5. This proviso was added as Amended by Mah. Tax Laws (Levy and Amendment) Act, 2001, s.3(a)(ii).
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 30 and 31: 3 [Provided that the clearance list
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: Subjective satisfaction to be on ob
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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