G.O Ms No. 47 Dated 12.2.2004

Indian Stamp Act, 1899 and Indian Registration Act, 1908 – Budget announcements for the year 2004-2005 – Reduction of rates of Stamp Duty and Registration Fee – Notification – Issued.

From the Inspector General of Registration letter No.6794/C2/2004, dt:11.2.2004.

The Notification annexed to this order will be published in the Extraordinary issue of the Tamil Nadu Government Gazette dated the 12^th, February, 2004.

The Works Manager, Government Central Press, Chennai-79 (with a request to publish the notification in the Tamil Nadu Government Gazette Extraordinary dated 12.2.2004 and send 100 copies to the Government and 1000 copies to the Inspector General of Registration, Chennai-28)

The Senior Personal Assistant to Minister (Public Works, Prohibition , Excise and Revenue) Chennai-9.

In exercise of the powers conferred by clause (a) of sub-section (1) of section 9 of the Indian Stamp Act, 1899 (Central Act II of 1899), the Governor of Tamil Nadu hereby reduces

(a) the maximum duty chargeable under the said Act in respect of instrument described under column(2) of the Table against Sl.No.1,

(b) the rate of duty chargeable and maximum duty chargeable in respect of instrument described in column(2) of the Table against Sl.No.2, as specified under column(3) thereof.

Sl.No.	Description of Instrument	Rate
(1)	(2)	(3)
1.	Agreement relating to deposit of title deeds described under Article 6(1)(a) of the Indian Stamp Act, 1899.	Rs.5,000/-(Rupees five thousand only)
2.	Mortgage deed – When possession is not given or agreed to be given as aforesaid described under Article 40(b) of the Indian Stamp Act, 1899.	One Rupee for every Rs.100/- or part thereof of the amount secured by such deed subject to the maximum of Rs.20,000/-(Rupees twenty thousand only)

In exercise of the powers conferred by clause (a) of sub-section (1) of section 9 of the Indian Stamp Act, 1899 (Central Act II of 1899), the Governor of Tamil Nadu hereby reduces the duty chargeable under the said Act in respect to the instruments described under column(2) of the TABLE given below to the extent of the rates mentioned under column(3) thereof.

Sl.No.	Description of Instrument	Reduced rate
(1)	(2)	(3)
1.	Mortgage deed – when possession of the property or any part of the property comprised in such deed is given by the Mortgagor or agreed to be given described under Article 40(a) of the Indian Stamp Act, 1899	Three Rupees for every Rs.100/- or part thereof of the amount secured by such deed.
2.	Power of Attorney as defined by section 2(21) not being a proxy – when given for consideration and authorising the attorney to sell any immovable property described under Article 48(e) of the Indian Stamp Act, 1899	Four Rupees for every Rs.100/- or part thereof of the amount of the consideration.

In exercise of the powers conferred under Section 78-A of the Registration Act, 1908 (Central Act XVI of 1908), the Governor of Tamil Nadu is of the opinion that it is necessary so to do as in the public interest, hereby reduces the maximum fees payable under Article 1(a) of the Table of Fees prepared under Section 78 of the said Act, in respect of the instruments described under column (2) of the TABLE given below to the extent mentioned under Column (3) thereof:-

Sl.No.	Description of Instrument	Maximum fee
1.	2.	3.
1.	Agreement relating to deposit of tile deeds described under Article 6(1)(a) of the Indian Stamp Act, 1899	Rs.1000/-(Rupees one thousand only)
2.	Mortgage deed – When possession is not given or agreed to be given described under Article 40(b) of the Indian Stamp Act, 1899.	Rs.5000/-(Rupees five thousand only)
3.	Mortgage deed – when possession of the property or any part of the property comprised in such deed is given by the Mortgagor or agreed to be given – described under Article 40(a) of the Indian Stamp Act, 1899.	Rs.2,00,000/-(Rupees two lakhs only)