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THE ORISSA ADDITIONAL STAMP DUTY ACT, 1970
THE ORISSA ADDITIONAL STAMP DUTY ACT, 1970
ORISSA ACT 32 OF 1970
CONTENTS
PREAMBLE
SECTIONS
1. Short title, extent and commencement
2. Definitions
3. Levy of surcharge
4. Application of the Indian Stamp Act, 1899
5. Repeal of Orissa Act 34 of 1962
SCHEDULE I
SCHEDULE II
[THE ORISSA ADDITIONAL STAMP DUTY ACT, 1970]
[For Statement of Objects and Reasons see Orissa Gazette, Extraordinary dated the 28th September 1970 (No. 1263).]
ORISSA ACT 32 OF 1970
[Received the assent of the President on the 18th November, 1970, first published in an extraordinary issue of the Orissa Gazette, dated the 18thDecember 1970.]
AN ACT TO LEVY ADDITIONAL STAMP DUTY IN RESPECT OF CERTAIN INSTRUMENTS.
Be it enacted by the Legislature of the State of Orissa in the Twenty-first Year of the Republic of India, as follows:-
Short title, extent and commencement.
1. (1) This Act may be called the Orissa Additional Stamp Duty Act, 1970.
(2) It extends to the whole of the State of Orissa.
(3) It shall come into force on such date as the State Government may, by [Came into force w.e.f. 1st February 1971, vide S.R.O. No. 57/71, dated the 4th January 1971, Published in Orissa Gazette, Part III, dated the 5th February 1971.] notification, appoint in that behalf.
Definitions
2. In this Act unless the context otherwise requires:-
(a) “rural area” means any area other than an urban area;
Orissa Act, 23 of 1950.
(b) “urban area” means any area within the local limits of any Municipality or Notified Area constituted under the Orissa Municipal Act, 1950.
Levy of surcharge.
2 of 1899
3. Notwithstanding anything contained in the Indian Stamp Act, 1899 (hereinafter referred to as the principal Act), stamp duty leviable under the Principal Act in respect of instruments specified in the first column of Schedule I shall, when such instrument purports to transfer any immovable property situate within rural areas and within urban areas, be increased by an additional stamp duty in accordance with the rates specified in the second column and third column respectively of Schedule II on the amounts or value, as the case may be, specified in the second column of Schedule I.
Application of the Indian Stamp Act, 1899.
4. The provisions of the principal Act shall, in so far as they are not inconsistent with the provisions herein contained, apply in respect of any additional stamp duty leviable under this Act.
Repeal of Orissa Act 34 of 1962.
Orissa Act 34 of 1962
5. The Orissa Additional Stamp Duty Act, 1962 is hereby repealed.
SCHEDULE I
(See Section 3)
|
Description of instrument |
Amount or value on which additional stamp duty is leviable |
|
(1) |
(2) |
|
1. Instrument referred to in Article 23 of Schedule I-A to the principal Act. |
Amount or value of the consideration for such conveyance as set forth in such instrument. |
|
2. Instrument referred to in Article 31 of the said Schedule. |
Value of the property of the greatest value as set forth in such instrument. |
|
3. Instrument referred to in Article 33 of the said Schedule. |
Value of the property as set forth in such instrument. |
|
4. Lease including under lease or sub-lease and any agreement to let or sub-let:- (i) Where the lease is granted for a fine or premium or for money advanced and where no rent is reserved; (ii) Where the lease is granted for a fine or premium or for money advanced in addition to rent reserved. |
Amount or value of such fine or premium or advance as set forth in such lease; Amount or value of such fine or premium or advance as set forth in such lease. |
|
5. Instrument referred to in Article 40 (a) of the said Schedule. |
Amount secured by such instrument. |
|
6. Instrument referred to in article:- (i) 58 (A) of the said Schedule; (ii)58 (B) of the said Schedule |
Value of the property settled as set forth in such instrument; Value of the property concerned as set forth in such instrument. |
SCHEDULE II
(See Section 3)
|
Amount or value specified in column (2) of Schedule I |
Rate of additional stamp duty in respect of properties situate in rural areas |
Rate of additional stamp duty in respect of properties situate in urban areas |
|
(1) |
(2) |
(3) |
|
Not exceeding Rs. 2,000 |
Two per cent |
Three per cent |
|
Exceeding Rs. 2,000 but not exceeding Rs. 5,000. |
Three per cent |
Four and half per cent. |
|
Exceeding Rs. 5,000 but not exceeding Rs. 10,000. |
Four per cent |
Six per cent |
|
Exceeding Rs. 10,000 but not exceeding Rs. 25,000. |
Five per cent |
Seven and half per cent. |
|
Exceeding Rs. 25,000 |
Six per cent |
Nine per cent |
