Keyword(s):
Banker, Bill of Exchange, Bill of Exchange Payable on Demand, Bill of Lading,
Bond, Chargeable, Cheque, Collector, Conveyance, Duty Stamped, Executed
and Execution, Impressed Stamp, Instrument, Instrument of Partition, Lease,
Mortgage-deed, Paper, Policy
An Acr to consolidafe artd ornerd the law relorir~gto St~rrrps.
WHEREAS ir is expedient lo consolidarc and amend UIC law
rclaling to Stamps; It is hercby enaclcd as fallows :-
CHAPTER I.
PRELIMMARY.
- (1) This Act may be caIled the Indian Stamp Act, 1899.
‘(2) It extends Lo Ihc whole of India cxcept ~hcSlate of Sarnmu
and bhmir :
Provided that it shall no1 apply to ={lherenicorics which, irnrne-
dialely bcfore the 1st November, 1956, were comprised in Part B
Statw (excluding the State of Jammu and Kashmir) cxcept to he
extent lo which Lhc provisions of this Act reIarc lo ratcs of stamp duty
in respect of the docurnenls specified in enlry 91 of List I in he
(27rh Jartuary, 1899.)
‘
Scvcnth Schedule LO he Conslitulian.
(3) It shall come into force on Ihc firs^ day of July, 1899. - In his AH, unless there is something repugnant in the
subject or context,-
(I) “banker” includcs a bank and any person acung as a bank-
cr :”Bill OI
cxchangc”
“Bill of
cxchangc.
payablc
on
demand”.
“Bill or
lading”.
“Bond”.
[Act 11
(2) “bill of exchange” means a bill of exchange as dcfincd by
the Negotiable Inslruments Acl, 1881, and includcs also a hrrrrdi, and 26 or
any oherdocurncnl enlitling or purporring 10 cntitle any person, whelher
narncd therein or no[, lo paymcnt by any other person of, or lo draw
upon any orher pcrson for, any sum of rnoncy :
(3) “bill of exchangc payable on demand” includcs-
(a) an ordcr far the paymen1 of any sum of money by a bill
or cxchangc or promissory nole, or for [he delivery of any
bill of exchangc or promissory nole in sarisfac~ionof any
sum of rnoncy, or for he paymenr of any sum of money
out of any particular fund which may or may not be avail-
nblc, or upon any condition or conlingcncy which may or
may nor be pcrfomed or happen:
(b) an ordcr for [he paymcnl or any sum of moncy wcckly,
monthly, or at any orher srared period; and
(c) a letlet of credit, that is to say, any instnrmcnr by which
onc person authoriscs anothcr to give credil ro rhc pcrson
in whose favour it is dnwn :
(4) “bill or lading” includes a “through bill of lading”, bul
does not include a mare’s rcccipt :
(5) “bond” includes-
(a) any inslrurncnt whcreby a person obliges himself to pay
moncy ro another, on condition that [he obligation shall bc
void if a specified act is performed, or is nor pcrlbrmcd,
as he casc may be;
(6) any insb-umcnl attested by a wirness and no1 payable to
order or bearer, whcrcby a person obliges himsclf ro pay
money ro anothcr; and
(c) any instrument so atrcslcd, whereby a persan obligzs him-
self lo deliver grain or other agriculrural producc to anoih-
er:
(6) “chwgcable” means, as applicd lo an instrurnen~cxccu~cd
or firs[ cxecu~edafter he commencement of his ACI,chmgcable under
this Acl, and, as applicd to any other insrrumcnt, chargeable under rhe
law in forcc in ‘[India] when such instrumen1 was cxcculcd or, where
scvcral persons exccurcd rhc instrument a1 dilrcrcnt times, first execul :
DISCLAIMER: This document is being furnished to you for your information by Blinkvisa. The contents of this document have been obtained from sources Blinkvisa believes to be reliable. These contents have not been independently verified, and PRS makes no representation or warranty as to the accuracy, completeness or correctness. In some cases the Principal Act and/or Amendment Act may not be available. Principal Acts may or may not include subsequent amendments. For authoritative text, please contact the relevant state department concerned or refer to the latest government publication or the gazette notification. Any person using this material should take their own professional and legal advice before acting on any information contained in this document. Blinkvisa or any persons connected with it do not accept any liability arising from the use of this document. Blinkvisa or any persons connected with it shall not be in any way responsible for any loss, damage, or distress to any person on account of any action taken or not taken on the basis of this document.