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THE INDIAN STAMP (ODISHA AMENDMENT) ACT, 2012

Act No. 8 of 2013

An Act further to amend the Indian Stamp Act, 1899 in its Application to the State of Odisha.

Be it enacted by the Legislature of the State of Odisha in the Sixty-third Year of the Republic of India as follows:-

Short title.

1. (1) This Act may be called the Indian Stamp (Odisha Amendment) Act, 2012.

Amendment of Schedule 1-A

2. In Schedule 1-A to the Indian Stamp Act, 1899 –

(i) In Article 6, for sub-clause (a) of clause (2) following sub-clause shall be substituted, namely:-

“(a) If such loan or debt is repayable on demand or more than three months from the date of execution of the instrument evidencing the agreement -

0.5% per centum on loan or debt amount subject to maximum of Rupees five thousand”.

(ii) in Article 54, after clause (b) following clause shall be inserted, namely:-

“(c) in case of loans for agriculture purpose - - Nil”.