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ABSTRACT OF THE KARNATAKA
STAMP ACT, 1957,
CONCERNING LEVY OF ADDITIONAL STAMP DUTY
Section 3-B. Certain Instruments
chargeable with additional duty.
Section 3C. Limit on levy of additional stamp
duty.
Section 205. Duty on transfer of immovable
properties.
Section 140. Duty on transfer of immovable
properties.
Section 99. Duty on transfers of immovable
properties.
1[Section3-B. Certain Instruments
chargeable with additional duty.- (1) Any instrument of conveyance,
exchange, settlement, gift or lease in perpetuity of immovable
property chargeable with duty under Section 3 read with articles
of the schedule, shall for a period
of six years effective from the first day of April, 1998
be chargeable with additional duty at the rate of five percent
on such duty chargeable on such instrument of conveyance, exchange,
gift, settlement and lease in perpetuity for the purpose of various
Infrastructure Projects across the state and for the purpose equity
investment in the Bangalore Mass Rapid Transit Limited in the
proportion of 67:33 respectively.
(2) The additional duty chargeable under sub-section
(1) shall be in addition to any duty chargeable under Section
3.
(3) Except as otherwise provided in sub-section
(1) provisions of this Act, shall so far as may be apply in relation
to the additional duty chargeable under sub-section (1) as they
apply in relation to the duty chargeable under Section 3. ]
1
2[Explanation - xxx]2
1. Substituted by Act No.6 of 2001, w.e.f.
1-4-2001.
2. Explanation omitted by Act No. 5 of 1998
w.e.f. 1.4.1998.
3[Section 3C. Limit on levy
of additional stamp duty. Notwithstanding anything contained
in any other law for the time being in force, no instrument shall
be charged with any duty in the form of additional stamp duty
under such other law, exceeding the maximum amount of duty with
which such instrument is chargeable under of this Act]3
3. Inserted by Act No. 6 of 1999 w.e.f. 1-4-1999.
ABSTRACT OF THE KARNATAKA
PANCHAYAT RAJ ACT, 1993
(CONCERNING LEVY OF ADDITIONAL STAMP DUTY)
The duty on transfers of immovable property shall
be levied in the form of a surcharge at the rate 3% of the duty
imposed by the Karnataka Stamp Act, 1957, on instruments of sale,
gift, mortgage, exchange and lease in perpetuity, of immovable
property situated within the limits of the area of the taluka
panchayath.
Provided that no duty on transfers is leviable
in respect of a mortgage where the amount secured by a mortgage
does not exceed two thousand rupees:
Provided further that no additional stamp duty shall be chargeable
in respect of any instrument exempt from stamp duty under the
Karnataka Stamp Act, 1957.
(2) The Government may, by notification, specify
the rate of the duty on transfers leviable under sub-section (1),
from time to time.
(3) On the introduction of the duty on transfers,
Section 28 of the Karnataka Stamp Act, 1957, shall be read as
if it specifically required the particulars to be set forth separately
in respect of the property situated within and without the limits
of a taluk.
(4) The entire amount collected under sub-section
(1) as the duty on transfers in respect of the lands and other
properties situated in the taluk shall be passed on to the Taluk
Panchayats in the State in proportion to the population of the
taluk.
(5) The Government may make rules for regulating
collection of the duty on transfers and the payment thereof.
ABSTRACT OF THE KARNATAKA MUNICIPAL
CORPORATION ACT, 1976
(CONCERNING LEVY OF ADDITIONAL STAMP DUTY)
Section 140. Duty
on transfer of immovable properties. - (1) The duty on transfers
of immovable property shall be levied in the form of surcharge
at the rate 2% of the duty imposed by the Karnataka Stamp Act,
1957 on instrument of sale, gift, mortgage, exchange and lease
in perpetuity of immovable property situated within the limits
of a larger urban area.
ABSTRACT OF THE KARNATAKA
MUNICIPALITIES ACT, 1964
(CONCERNING LEVY OF ADDITIONAL STAMP DUTY)
Section 99. Duty on transfers of immovable
properties. - The duty on transfers of immovable property
shall be levied in the form of surcharge at the rate 2% of the
duty imposed by the Karnataka Stamp Act, 1957 on instrument of
sale, gift, mortgage, exchange and lease in perpetuity of immovable
property situated within the limits of a smaller urban area.
Provided that no such duty is leviable in respect of a mortgage
where the amount secured by the mortgage does not exceed two thousand
and five hundred rupees.
(2) On the introduction of the transfer duty:-
(a) Section 28 of the Karnataka Stamp Act, 1957, shall be read
as if it specifically required the particulars to be set forth
separately in respect of property situated within and without
the municipal area;
(b) Section 61 of the same Act shall be read as if it referred
to the municipal council as well as the Government.
(3) The Government may make rules for regulating
the collection of the duty, the payment thereof to the municipal
council and the deduction of any expenses incurred by the Government
in the collection thereof.
(4) No duty shall be chargeable:-
(i) in respect of any instrument executed by or on behalf of or
in favour of the Government in cases where but for this exemption
the Government would be liable to pay the transfer duty under
this section in respect of such instrument, or
(ii) in respect of any instrument exempt from stamp duty under
the Karnataka Stamp Act, 1957.
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