Indian Stamp Act, 1963

Section 1

Section 1: Short Title, Extent, and Commencement This section provides the title of the Act and specifies that it applies to the state of Assam. It also states when the Act will come into effect.

Section 2

Section 2: Amendment of Section 2 of the Principal Act This section amends definitions within the Indian Stamp Act, 1899, specifically updating or adding definitions relevant to Assam

Section 3

Section 3: Amendment of Section 3 of the Principal Act This section modifies provisions regarding the imposition of stamp duty on certain documents, clarifying which documents are subject to duty in Assam.

Section 4

Section 4: Amendment of Section 4 of the Principal Act This section addresses exemptions from stamp duty for specific categories of documents or transactions, detailing what is exempted under Assam law.

Section 5

ection 5: Amendment of Section 17 of the Principal Act This section revises provisions related to the valuation of properties for stamp duty purposes, ensuring that assessments align with local practices.

Section 6

Section 6: Amendment of Section 18 of the Principal Act This section relates to the payment and collection of stamp duties, outlining procedures and responsibilities for both taxpayers and authorities.

Section 7

Section 7: Amendment of Section 32 of the Principal Act This section deals with penalties for non-compliance with stamp duty requirements, specifying fines or other consequences for failing to adhere to regulations.

Section 8

Section 8: Amendment of Section 33 of the Principal Act This section discusses the powers granted to authorities for enforcement and compliance checks regarding stamp duties.

Section 9

Section 9: Amendment of Section 40 of the Principal Act This section outlines procedures for appeals against decisions made by authorities concerning stamp duties, providing a framework for dispute resolution.

Section 10

Section 10: Repeal and Saving Clause This section repeals any conflicting laws or provisions previously in effect while ensuring that rights accrued under those laws are preserved

Section 11

Section 11: Power to Make Rules This section grants authority to the government to create rules for implementing provisions under this amendment act effectively

Section 12

Section 12: Removal of Difficulties This section allows for measures to be taken to address any difficulties arising during the implementation of this Act, ensuring smooth enforcement.