Indian_Real_Estate_Law (2)
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Indian_Real_Estate_Law (2)

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Indian Real Estate Laws 214managing director or secretary or other principalofficer of the company, shall be punishablewith fine which may extend to five hundred rupees.63. Penalty for failure to cancel adhesivestamp.—Any person required by section 12 tocancel an adhesive stamp, and failing to cancelsuch stamp in manner prescribed by that section,shall be punishable with fine which mayextend to one hundred rupees. 64. Penaltyfor omission to comply with provisions of section27.—Any person who, with intent to defraudthe Government,— (a) executes any instrumentin which all the facts and circumstancesrequired by section 27 to be set forthin such instrument are not fully and truly setforth; or (b) being employed or concerned inor about the preparation of any instruments,neglects or omits fully and truly to set forththerein all such facts and circumstances; or (c)does any other act calculated to deprive theGovernment of any duty or penalty under thisAct, shall be punishable with fine which mayextend to five thousand rupees. 65. Penaltyfor refusal to give receipt, and for devices toevade duty on receipts.—Any person who,—(a) being required under section 30 to give areceipt, refuses or neglects to give the same; or(b) with intent to defraud the Government ofany duty, upon a payment of money or deliveryof property exceeding twenty rupees in amountor value, gives a receipt for an amount or valuenot exceeding twenty rupees, or separates ordivides the money or property paid or delivered,shall be punishable with fine which mayextend to one hundred rupees. 66. Penaltyfor not making out policy or making one notduly stamped.—Any person who,— (a) receives,or takes credit for, any premium or considerationfor any contract of insurance anddoes not, within one month after receiving, ortaking credit for, such premium or consideration,make out and execute a duly stampedpolicy of such insurance; or (b) makes, executesor delivers out any policy which is notduly stamped, or pays or allows in account, oragrees to pay or allow in account, any moneyupon, or in respect of, any such policy, shallbe punishable with fine which may extend totwo hundred rupees. 67. Penalty for not drawingfull number of bills or marine policies purportingto be in sets.—Any person drawingor executing a bill or exchange 110 [payableotherwise than on demand] or a policy of marineinsurance purporting to be drawn or executedin a set of two or more, and not atthe same time drawing or executing on paperduly stamped the whole number of billsor policies of which such bill or policy purportsthe set to consist, shall be punishablewith fine which may extend to one thousandrupees. 68. Penalty for post-dating bills, andfor other devices to defraud the revenue.—Anyperson who,— (a) with intent to defraud theGovernment of duty, draws, makes or issuesany bill of exchange or promissory note bearinga date subsequent to that on which suchbill or note is actually drawn or made; or(b) knowing that such bill or note has beenso post-dated, endorses, transfers, presents foracceptance or payment, or accepts, pays or receivespayment of, such bill or note, or in anymanner negotiates the same; or (c) with thelike intent, practices or is concerned in anyact, contrivance or device not specially providedfor by this Act or any other law for thetime being in force, shall be punishable withfine which may extend to one thousand rupees.69. Penalty for breach of rule relatingto sale of stamps and for unauthorized sale.—(a) Any person appointed to sell stamps whodisobeys any rule made under section 74, and(b) any person not so appointed who sells oroffers for sale any stamp (other than a 111 [tennaye paise or five naye paise] adhesive stamp),shall be punishable with imprisonment for aterm which may extend to six months, or withfine which may extend to five hundred rupees,or with both. 70. Institution and conduct ofprosecutions.— (1) No prosecution in respectof any offence punishable under this Act orany Act hereby repealed, shall be institutedwithout the sanction of the Collector or suchother officer as 112 [the 113 [State Government]]generally, or the Collector specially, authorizesin that behalf. (2) The Chief ControllingRevenue-Authority, or any officer generallyor specially authorized by it in this behalf,may stay any such prosecution or compoundany such offence. (3) The amount of any suchcomposition shall be recoverable in the man-7.0 7. THE INDIAN STAMP ACT, 1899

215 Indian Real Estate Lawsner provided by section 48. 71. Jurisdictionof Magistrates.—No Magistrate other than aPresidency Magistrate or a Magistrate whosepowers are not less than those of a Magistrateof the second class, shall try any offence underthis Act. 72. Place of trial.—Every such offencecommitted in respect of any instrumentmay be tried in any district or presidencytownin which such instrument is found, aswell as in any district or presidency-town inwhich such offence might be tried under theCode of Criminal Procedure for the time beingin force. 73. Books, etc., to be opento inspection.—Every public officer having inhis custody any registers, books, records, papers,documents or proceedings, the inspectionwhereof may tend to secure any duty, orto prove or lead to the discovery of any fraudor omission in relation to any duty, shall atall reasonable times permit any person authorizedin writing by the Collector to inspect forsuch purpose the registers, books, papers, documentsand proceedings and to take such notesand extracts as he may deem necessary, withoutfee or charge. 74. Powers to make rules relatingto sale of stamps.—The 114 [State Government]115 [***] may make rules for regulating—(a) the supply and sale of stampsand stamped papers, (b) the persons by whomalone such sale is to be conducted, and (c) theduties and remuneration of such persons: Providedthat such rules shall not restrict the saleof 116 [ten naye paise or five naye paise] adhesivestamps. 75. Power to make rules generallyto carry out Act.—The 117 [State Government]may make rules to carry out generallythe purposes of this Act, and may bysuch rules prescribe the fines, which shall inno case exceed five hundred rupees, to be incurredon breach thereof. 76. Publication ofrules.— 118 [ (1) All rules made under this Actshall be published in the Official Gazette.] (2)All rules published as required by this sectionshall, upon such publication, have effect as ifenacted by this Act. 119 [(3) Every rule madeby the State Government under this Act shallbe laid, as soon as may be after it is made,before the State Legislature.] 120 [76A. Delegationof certain powers.— 121 [ 122 [***] TheState Government, may, by notification in theOfficial Gazette], delegate— (a) all or any ofthe powers conferred on it by sections 2(9),33(3) (b), 70(1), 74 and 78 to the Chief ControllingRevenue-Authority, and (b) all or anyof the powers conferred as the Chief ControllingRevenue-Authority by sections 45(1) (2),56(1) and 70(2) to such subordinate Revenue-Authority as may be specified in the notification.]77. Saving as to court-fees.—Nothingin this Act contained shall be deemed to affectthe duties chargeable under any enactmentfor the time being in force relating tocourt-fees. 123 [77A. Saving as to certainstamps.—All stamps in denominations of annasfour or multiples thereof shall be deemedto be stamps of the value of twenty-five nayepaise or, as the case may be, multiples thereofand shall, accordingly, be valid for all the purposeof this Act.] 78. Act to be translated, andsold cheaply.—Every 124 [State Government]shall make provision for the sale of translationsof this Act in the principal vernacularlanguages of the territories administered by itat a price not exceeding 125 [twenty-five nayepaise] per copy. 79. Repeal.—[Rep. by the Repealingand Amending Act, 1914 (10 of 1914),sec. 3 and Sch. II.] THE INDIAN STAMPACT, 1899 SCHEDULE II.—Enactments repealed.—[Rep.by the Repealing and AmendingAct, 1914 (10 of 1914), sec. 3 and Sch.II.]. 1. Subs. by Act 43 of 1955, sec. 3, forsub-section (2) (w.e.f. 1-4-1956). 2. Subs. bythe A.O. (No. 2) 1956, for “Part B States”.3. Subs. by Act 43 of 1955, sec. 2, for “theStates” (w.e.f. 1-4-1956 ). 4. Clause (8) omittedby the A.O. 1937. 5. Subs. by the A.O.1937, for “the Local Government”. 6. Subs. bythe A.O. 1950, for “collecting Government”. 7.Clause (12A) ins. by the A.O. 1937 and omittedby the A.O. 1950. 8. Ins. by Act 43 of1955, sec. 4 (w.e.f. 1-4-1956 ). 9. Ins. by Act15 of 1904, sec. 2. 10. Subs. by Act 43 of1955, sec. 2, for “the States” (w.e.f. 1-4-1956). 11. The word “and” omitted by Act 5 of1906, sec. 2. 12. Sub-clause (c) omitted byAct 5 of 1906, sec. 2. 13. Ins. by Act 43 of1955, sec. 4 (w.e.f 1-4-1956 ). 14. The word“and” omitted by Act 18 of 1928, sec. 2 andSch. I. 15. Ins. by Act 15 of 1904, sec. 2.16. The word “and” ins. by Act 18 of 1928,7. THE INDIAN STAMP ACT, 1899 7.0

Indian Real Estate Laws 214

managing director or secretary or other principal

officer of the company, shall be punishable

with fine which may extend to five hundred rupees.

63. Penalty for failure to cancel adhesive

stamp.—Any person required by section 12 to

cancel an adhesive stamp, and failing to cancel

such stamp in manner prescribed by that section,

shall be punishable with fine which may

extend to one hundred rupees. 64. Penalty

for omission to comply with provisions of section

27.—Any person who, with intent to defraud

the Government,— (a) executes any instrument

in which all the facts and circumstances

required by section 27 to be set forth

in such instrument are not fully and truly set

forth; or (b) being employed or concerned in

or about the preparation of any instruments,

neglects or omits fully and truly to set forth

therein all such facts and circumstances; or (c)

does any other act calculated to deprive the

Government of any duty or penalty under this

Act, shall be punishable with fine which may

extend to five thousand rupees. 65. Penalty

for refusal to give receipt, and for devices to

evade duty on receipts.—Any person who,—

(a) being required under section 30 to give a

receipt, refuses or neglects to give the same; or

(b) with intent to defraud the Government of

any duty, upon a payment of money or delivery

of property exceeding twenty rupees in amount

or value, gives a receipt for an amount or value

not exceeding twenty rupees, or separates or

divides the money or property paid or delivered,

shall be punishable with fine which may

extend to one hundred rupees. 66. Penalty

for not making out policy or making one not

duly stamped.—Any person who,— (a) receives,

or takes credit for, any premium or consideration

for any contract of insurance and

does not, within one month after receiving, or

taking credit for, such premium or consideration,

make out and execute a duly stamped

policy of such insurance; or (b) makes, executes

or delivers out any policy which is not

duly stamped, or pays or allows in account, or

agrees to pay or allow in account, any money

upon, or in respect of, any such policy, shall

be punishable with fine which may extend to

two hundred rupees. 67. Penalty for not drawing

full number of bills or marine policies purporting

to be in sets.—Any person drawing

or executing a bill or exchange 110 [payable

otherwise than on demand] or a policy of marine

insurance purporting to be drawn or executed

in a set of two or more, and not at

the same time drawing or executing on paper

duly stamped the whole number of bills

or policies of which such bill or policy purports

the set to consist, shall be punishable

with fine which may extend to one thousand

rupees. 68. Penalty for post-dating bills, and

for other devices to defraud the revenue.—Any

person who,— (a) with intent to defraud the

Government of duty, draws, makes or issues

any bill of exchange or promissory note bearing

a date subsequent to that on which such

bill or note is actually drawn or made; or

(b) knowing that such bill or note has been

so post-dated, endorses, transfers, presents for

acceptance or payment, or accepts, pays or receives

payment of, such bill or note, or in any

manner negotiates the same; or (c) with the

like intent, practices or is concerned in any

act, contrivance or device not specially provided

for by this Act or any other law for the

time being in force, shall be punishable with

fine which may extend to one thousand rupees.

69. Penalty for breach of rule relating

to sale of stamps and for unauthorized sale.—

(a) Any person appointed to sell stamps who

disobeys any rule made under section 74, and

(b) any person not so appointed who sells or

offers for sale any stamp (other than a 111 [ten

naye paise or five naye paise] adhesive stamp),

shall be punishable with imprisonment for a

term which may extend to six months, or with

fine which may extend to five hundred rupees,

or with both. 70. Institution and conduct of

prosecutions.— (1) No prosecution in respect

of any offence punishable under this Act or

any Act hereby repealed, shall be instituted

without the sanction of the Collector or such

other officer as 112 [the 113 [State Government]]

generally, or the Collector specially, authorizes

in that behalf. (2) The Chief Controlling

Revenue-Authority, or any officer generally

or specially authorized by it in this behalf,

may stay any such prosecution or compound

any such offence. (3) The amount of any such

composition shall be recoverable in the man-

7.0 7. THE INDIAN STAMP ACT, 1899

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