Stamp Act, 1899 — section 33

33. GIFT.—Instrument of, not being The same duty as is SETTLEMENT(No.58) OR WILL OR leviable on a Conveyance TRANSFER (No.62). HIRING AGREEMENT (No.23) for a or AGREEMENT FOR SERVICE. See consideration equal to the AGREEMENT (No.5). value of the property as set-forth in such instrument. 34. INDEMNITY BOND. The same duty as on a INSPECTORSHIP-DEED—See Security Bond (No. 57) COMPOSITION-DEED (No. for the same amount. 22).INSURANCE— See POLICY OF INSURANCE (No. 47). 35. LEASE, including an under-lease or sub lease and any agreement to let or sub-let

(a)where by such lease the rent is fixed and no premium is paid or delivered

(i)where the lease purports to be Two percent of the whole for a term of less than one year; amount payable or deliverable under such lease.

(ii)where the lease purports to be Two percent of the for a term of not less than one amount or value of the year but not more than three average annual rent years; reserved.

(iii)where the lease purports to be Two percent of the for a term in excess of three consideration equal to years, but not more than twenty the amount or value of years; the average annual rent reserved.

(iv)where the lease purports to be Two percent of the for a term in excess of twenty consideration equal to years or in perpetuity; and the whole amount of rents which would be paid or delivered in respect of the first ten years of the lease.

(v)where the lease does not Two percent of the purport to be for any definite consideration equal to term. the amount or value of the average annual rent which would be paid or delivered for the first ten years, if the lease continued so long.

(b)(i) where the lease is granted Two percent of the for money advanced and where consideration equal to no rent is reserved; the amount of such advanced as set forth in the lease.

(ii)where the lease is granted for a Two percent of the fine or premium and where no consideration equal to rent is reserved; and the amount of such fine or premium as set forth in the lease.

(c)(i) where the lease is granted Two percent of the for money advanced in addition consideration equal to to rent reserved; and the amount of advance as set forth in the lease, in addition to the duty which would have been payable on such lease, if no advance had been paid or delivered; provided that, in any case when an agreement to lease is stamped with the ad valorem stamp required for a lease and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed four rupees.

(ii)where the lease is granted Two percent of the for a fine or premium in addition consideration equal to to rent reserved the amount of such fine or premium as set forth in lease in addition to the duty which would have been payable on such lease if no fine or premium has been paid or delivered: Provided that, in any case when an agreement to lease is stamped with an ad valorem stamped required for a lease and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed one hundred rupees. EXEMPTION:— Lease, executed in the case of a cultivator and for the purposes of cultivation (including a lease of trees for the production of food or drink) without the payment or delivery of any fine or premium when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees. 36. LETTER OF ALLOTMENT OF Ten Rupees SHARES in any company or proposed company or in respect of any loan to be raised by any company or proposed company. See also CERTIFICATE OR OTHER DOCUMENT (No.19). 37. LETTER OF CREDIT, that is to say, any instrument by which one person authorizes another to give credit to the person in whose favor it is drawn. LETTER OF GUARANTEE, See AGREEMENT (No.5). 38. LETTER OF LICENCE, that is to say, Fifty Rupees any agreement between a debtor and his creditors, that the letter shall, for a specified time, suspend their claims and allow the debtor to carry on business at his own discretion. 39. MEMORANDUM OF ASSOCIATION OF A COMPANY

(a)if accompanied by articles of One hundred Rupees association under section 35 of the Companies Act, 2017 (XIX of 2017);

(b)If not so accompanied. Two hundred Rupees. EXEMPTION:—Memorandum of any association not formed for profit and registered under section 42 of the Companies Act, 2017 (XIX of 2017). 40. MORTGAGE-DEED not being an AGREEMENT RELATING TO DEPOSIT OF TITLE-DEEDS, PAWN OR PLEDGE (No.6), BOTTOMRY BOND (No.16), MORTGAGE OF A CROP (No.41),RESPONDENTIA BOND (No.56), OR SECURITY BOND (No.57)

(a)when possession of the property or Three percent of the any part of the property comprised in consideration equal to such deed is given by the mortgagor the amount secured by or agreed to be given; such deed.

(b)When possession is not given or Three percent of the agreed to be given as aforesaid. amount secured by such deed. Explanation.— A mortgagor who gives to the mortgagee a power of attorney to collect rents or a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article.

(c)when a collateral or auxiliary or Ten Rupees. additional or substituted security, or by way of further assurance for the above-mentioned purposes where the principal or primary security is duly stamped for every sum secured not exceeding Rs. 1,000; and for every Rs. 1,000 or part thereof secured in excess of Rs. 1,000; and

(d)(i) mortgage with banking companies One fifth of one percent that is to say simple or legal that is to say 0.2% of the mortgage for banking companies or loan amount subject to a other financial institution when the maximum of one entire finance is not based on hundred rupees. interest; and

(ii)in any other case One fifth of one percent that is to say 0.2% of the loan amount. EXEMPTION:

(1)Instruments, executed by persons taking advances under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists Loans Act, 1884 (XII of 1884) or by their sureties as security for the repayment of such advances.

(2)Letter of hypothecation accompanying a Bill of Exchange. 41. MORTGAGE OF A CROP, including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop, whether the crop is or is not in existence at the time of mortgage

(a)when the loan is repayable not more One Rupee than three months from the date of the instrument, for every two hundred rupees or part thereof of the sum secured; and

(b)when the loan is repayable more than Two Rupees three months, but not more than eighteen months, from the date of the instrument, for every one hundred rupees or part thereof of the sum secured. 42. NOTARIAL ACT, that is to say, any Ten Rupees instrument, endorsement, note, attestation, certificate or entry not being a PROTEST (No.50) made or signed by a Notary Public in the execution of the duties of his office, or by any other person lawfully acting as a Notary Public. See also PROTEST OF BILL OR NOTE (No.50). 43. NOTE OR MEMORANDUM SENT BY a broker or agent to his principal intimating the purchase or sale on account of such principal

(a)of any goods exceeding in value Five Rupees twenty rupees;

(b)of any stock or marketable security Five rupees for every Rs. exceeding in value twenty rupees, 5,000 or a part thereof of not being a Government Security; the value of the stock or and security.

(c)of a Government security One rupee for every 10,000 rupees or part thereof of the value of the security subject to a maximum of forty rupees. 44. NOTE OF PROTEST BY THE Five rupees. MASTER OF A SHIP. See also PROTEST BY MASTER OF A SHIP (No.51). ORDER FOR THE PAYMENT OF MONEY. See BILL OF EXCHANGE (No.13).