Stamp Duty in Karnataka

(Amended as per Karnataka Stamp Act [Amendment Act 2011]

Description of Instruments  Proper Stamp Duty
1. Acknowledgement of,-   (i) Where amount(a) exceeds rupees 100 but does not exceed rupees 5,000

 

Two rupees.

 

 

           (b) when exceeds Rs.5,000  Two rupees plus rupees two for every thousands or part thereof (maximum one thousand rupees.)
    (ii) a letter, article, document, parcel, package or consignment. One rupee for every one thousand rupees or part thereof of amount charged. 
 3. Adopted deed  Five hundred rupees.
 4. Affidavit  Twenty rupees.
 11. Award, that is to say, any decision in writing by an arbitrator or umpire, not being an award directing a partition, on a reference made otherwise than by an order of the Court in the course of a suit. 

 

The same duty as a conveyance under Article 20(1) on the amount or market value of the property (which is the subject-matter of award), whichever is higher.
 12. Bond(a) where the amount or value secure does not exceed Rs.1, 000.

 

fifty paise for every one hundred rupees or part thereof.

 

       (b) where it exceeds Rs.1, 000.  The same duty as under clause (a) for the first one thousand rupees and for every five hundred rupees or part thereof in excess of one One hundred rupees.
 14. Cancellation – Instruments of  One thousand rupees.
 21. Copy of extract       (i) if the original was not chargeable with duty, or if the duty with which it was chargeable does not exceed five rupees.

 

(ii) in any other case.

Five rupees.

 

 

 

Ten rupees.

 22. Counterpart or Duplicate- of, any instruments, chargeable with duty and in respect of which the proper duty has been paid –(a) if the duty with which the original instrument is chargeable does not exceed five hundred rupees.

 

(b) in any other case.

 

 

The same duty as payable on the original.

 

 

 

Five hundred rupees.

 

 25. Divorce-Instrument of One hundred rupees.
 26.Exchange of property– Instrument of The same duty as a Conveyance for a market value equal to the market value of the property of greatest value which is the subject matter of exchange. 
 28. Gift-Instrument of        (a) where the donee is not a family member of the donor.

(b) where the donee is a member of the family of the donor.

 

The same duty as a Conveyance for a market value equal to the market value of the property which is the subject matter of gift:

 

Rupees one thousand.

 32. Letter of licence One hundred rupees.
 36. Notarial Act Ten rupees.
 40.Partnership     A. Instrument of

(a) where the Capital of the partnership does not exceed rupees fifty thousand.

 

Five hundred rupees.

 

           (b) in any other case Two thousand rupees.
B. Reconstitution-(a) where immoveable property contributed as share by a partner or partners remains with the firm at the time of outgoing in whatever manner bysuch partner or partners on reconstitution of such partnership firm The same duty as a Conveyance for a market value equal to the market value of the immovable property remaining with the firm. 

 

       (b) in any other case. One thousand rupees.
C. Dissolution of –(a) where the property which belonged to one partner or partners when the partnership commenced is distributed or allotted or given to another partner or partners. 

 

 

The same duty as a Conveyance for a market value equal to the market value of the property distributed or allotted or given to partner or partners under the instrument of dissolution, in addition to the duty which would have been chargeable on such dissolution if such property had not been distributed or allotted or given.
       (b) in any other case One thousand rupees.
 41.Power of Attorney       (a) when executed for the sole purpose of procuring the registration of one or more documents in relation to a single transaction or for admitting execution of one or more such documents; One hundred rupees.

 

 

 

 

         (b) when authorizing one person or more to act in a single transaction other than the case mentioned in clause (a); One hundred rupees. 
         (c) when authorizing not more than fiveperson to act jointly and severally in more than one transaction or generally; One hundred rupees. 
         (d) when authorizing more than five but not more than ten persons to act jointly and severally in more than one transaction or generally; Two hundred rupees. 
           (e) when given for consideration and or when coupled with interest and authorizing the attorney to sell any immovable property;  The same duty as a Conveyance under Article 20(1) on consideration or on market value of the property (which is the subject-matter of such power-of-attorney), whichever is higher.
         (ea) when given for construction /development or sale of an immovable property , include a multi-unit house or building or unit of apartment or flat or portion of a multi-storied building to a person having a stipulation that after   construction or development, such property shall be held jointly or severally by person and the owner orlessee, as the case may be , of such property, or that it shall be sold   jointly or severally by them or   that a part of it shall be held jointly or severally by them and the remaining part thereof shall be sold jointly or severally by them.

 

One rupee for every one hundred rupees or part thereof on the market value of the property, or the estimated cost of construction or proposed construction or development or proposed development of the property, as the case may be, (which is the subject-matter of such transfer under the power-of-attorney in accordance with theprovisions of section 28 of the Karnataka Stamp Act, 1957), or the consideration for such transfer whichever is higher. 

 

 

           (eb) when given to person other than the father, mother, wife or husband, sons, daughters, brothers, sisters, in relation to the executant authorizing such person to sell immovable property situated in Karnataka state. 

 

Seven rupees and fifty paise for every one hundred rupees or part thereof on the market value of the property which is the subject matter of Power of Attorney: Provided that the duty paid on such instrument is adjustable towards the duty payable on the instrument of sale or transfer executedsubsequently in favour of either the attorney holder or any other person. 
(f) when executed by a principal or client for the sole purpose of authorizing the agent or broker to carry out all lawful acts and deeds relating to his/her trading operations including sale/purchase of marketable securities, transfer of securities towards stock exchange, receiving/releasing funds and securities from/to other parties on behalf of the principal or client.  Fifty rupees.

 

 

 

 

 

 

 

 

 

             (g) when executed by a principal or client for the sole purpose of authorizing the depository participant to carry out all lawful acts and deeds relating to his/her demat account as per the bye-laws of the depositories/regulations governing such operations. Fifty rupee. 

 

 

 

(h) in any other case.  Two hundred rupees.
 48.Settlement     A. Instrument of (including a deed of dower)

(i) where the disposition is not for the purpose of distributing the property of the settler among his family.

 

 

 

 

 

 

 

The same duty as a Conveyance for a market value equal to the market value of the property, which is the subject-matter of settlement: Provided that where an agreement to settle is stamped with the stamp duty required for an instrument of settlement, and an instrument of settlement in pursuance of such agreement is subsequently executed, the duty on such instrument shall not exceed rupees fifty.

             (ii) where the disposition is for the purpose of distributing the property of the settler among his family.  Rupees one thousand. 

 

       B. Revocation of The same duty as a Conveyance for a sum equal to amount or value of the property concerned in the instrument of revocation, but not exceeding two hundred rupees.
51.Surrender of lease –         (a) when the duty with which the lease is changeable does not exceed twenty-two rupees and fifty paise; 

(b) in any other case.

The duty with which such lease is chargeable.

 

 

 

One hundred rupees.

 

 52.Transfer-(Whether with or without consideration)-(a) of debentures, being marketable securities, whether the debenture is liable to duty or not.

 

 

 

Fifty paise for every rupees one hundred or part thereof subject to a maximum of one thousand rupees for a consideration equal to the face value of the debenture.

       (b) of any interest secured by bond, mortgage deed or policy of insurance-(i) if the duty on such bond, mortgage – deed or policy does not exceed twenty two rupees and fifty paise;

 

(ii) in any other case;

 

i.            The duty with which such bond, mortgage deed; or policy of insurance is chargeable.

 

 

ii.            One hundred rupees.

 

           (c) of any property under section 25 of the Administrator Generals Act, 1963; One hundred rupees. 
           (d) of any trust property from the trustee to another trustee or from a trustee to beneficiary, or from trustee to trust or trustee or beneficiary, as the case may be. The same duty as a conveyance [under Art.20 (1)] on the market value of the property (which is the subject matter of such transfer or consideration for such transfer, whichever is higher.Provided that for the public religious and charitable trusts, the duty for such transfer shall be rupees one thousand.
 53. Transfer of lease, by way of assignment, and not by way of under-lease.  The same duty as conveyance for a market value which is the subject- matter of assignment.
 54.Trust     Declaration of, or concerning, any property when made by any writing not being a will.-

i) When the Trust is made exclusively for public religious and charitable purposes.

ii) When the trust is made for the management and custody of properties, for the purpose of distributing the benefits/profits of the property to the beneficiaries and where there is no transfer/disposition of property, in any way.

iii) When the trust made involves the transfer/disposition of property in any way.

 

 

 

 

 

i.            One Thousand Rupees.

 

 

ii.            One Thousand Rupees.

 

 

iii.            The same duty as conveyance [u/Art. No.20 (1)] on the amount and the market value of the property, which is the subject matter of such transfer/disposition.