© [Regd. No. TN/CCN/467/2012-14.

GOVERNMENT OF TAMIL NADU [R. Dis. No. 197/2009.

2023 [Price: Rs. 2.40 Paise.

TAMIL NADU
GOVERNMENT GAZETTE
EXTRAORDINARY PUBLISHED BY AUTHORITY

No. 129] CHENNAI, MONDAY, APRIL 17, 2023

Chithirai 4, Sobakiruthu, Thiruvalluvar Aandu-2054

Part IV—Section 1
Tamil Nadu Bills
BILL INTRODUCED IN THE LEGISLATIVE ASSEMBLY
OF THE STATE OF TAMIL NADU

Under Rule 130 of the Tamil Nadu Legislative Assembly Rules, the following
Bill which was introduced in the Legislative Assembly of the Tamil Nadu on
17th April, 2023 is published together with Statement of Objects and Reasons
for general information:—

L.A Bill No. 10 of 2023

A Bill further to amend the Indian Stamp Act, 1899

in its application to the State of Tamil Nadu.

BE it enacted by the Legislative Assembly of the State of Tamil Nadu in the

Seventy-Fourth Year of the Republic of India as follows:—

Short title, 1. (1) This Act may be called the Indian Stamp (Tamil Nadu Amendment)
extent and Act, 2023.
commence-
ment.

(2) It extends to the whole of the State of Tamil Nadu.

(3) It shall come into force at once.

Amendment of 2. In Schedule I to the Indian Stamp Act, 1899,— Central Act II of

Schedule I. 1899.

(1) in Article 3, for the words “One hundred rupees”, the words
“One thousand rupees” shall be substituted;
(2) in Article 4, for the words “Twenty rupees”, the words “Two
hundred rupees” shall be substituted;
(3) in Article 5, in clause (j), for the words “Twenty rupees”, the
words “Two hundred rupees” shall be substituted;

DTP—Ex-IV-1 (129) [25]

26 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY

(4) for Article 10, the following Article shall be substituted,

namely:—

“10. ARTICLES OF ASSOCIATION Five hundred rupees on every ten

OF A COMPANY lakh rupees of authorised capital or
part thereof subject to a maximum of
rupees five lakh.

Exemption.-
Articles of any association not formed for profit and registered under the
Companies Act, 2013 (Central Act 18 of 2013).”;
(5) in Article 17,—

(a) after the words “if attested”, the words “whether it

involves transfer of property or not” shall be inserted;
(b) for the words “Fifty rupees”, the words “One thousand
rupees” shall be substituted;
(6) in Article 24,—

(a) in clause (i), for the words “Five rupees”, the words “One
hundred rupees” shall be substituted;
(b) in clause (ii), for the words “Twenty rupees”, the words
“One hundred rupees” shall be substituted;
(7) in Article 25, in clause (b), for the words “Twenty rupees”, the
words “Five hundred rupees” shall be substituted;
(8) in Article 35, in clauses (a), (b) and (c), for the expression
“or advance if any, payable”, the expression “advance or security deposit,
whether repayable or not” shall be substituted;
(9) for Article 39, the following Article shall be substituted,
namely:—
“39. MEMORANDUM OF Two hundred rupees.
ASSOCIATION OF
A COMPANY
Exemption.-
Memorandum of any association not formed for profit and registered
under the Companies Act, 2013 (Central Act 18 of 2013).”;
(10) in Article 42, for the words “Ten rupees”, the words “Twenty
rupees” shall be substituted;
(11) in Article 45,—
(a) in clause (b), for the words “amount of the value”, the words
“amount of the market value” shall be substituted;
(b) in the Explanation, the following expression shall be added
at the end, namely:—

“and shall include the legal heirs of a deceased family member, if any.”;
TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 27

(12) in Article 46,—

(a) in clause A, in sub-clause (b), for the words “Three hundred
rupees”, the words “One thousand rupees” shall be substituted;
(b) in clause B, in the Explanation, the following expression shall
be added at the end, namely:—

“and shall include the legal heirs of a deceased family member, if any.”;
(13) in Article 48,—

(a) in clause (a), for the words “Five rupees”, the words “Five hundred
rupees” shall be substituted;
(b) in clause (b), for the words “Fifteen rupees”, the words “Five
hundred rupees” shall be substituted;
(c) in clause (c), for the words “One hundred rupees”, the words
“One thousand rupees” shall be substituted;
(d) in clause (d), for the words “One hundred and seventy five
rupees”, the words “One thousand rupees” shall be substituted;
(e) in clause (e), for the words “market value equal to the amount
of the consideration”, the words “market value of the immovable property” shall
be substituted;
(f) for clause (f), the following clauses shall be substituted,
namely:—
“(f) When given without consideration One thousand rupees.
and authorising the attorney, who is a
family member, to sell any immovable
property.

(g) When given without consideration One rupee for every one hundred
and authorising the attorney, who rupees or part thereof of the market
is not a family member, to sell any value of the immovable property.
immovable property.

(h) in any other case. One thousand rupees for each person
authorised.”.
(g) the existing Explanation shall be renumbered as Explanation-I,
and after Explanation-I as so renumbered, the following Explanation shall be
added, namely:—

“Explanation-II.— For the purpose of this Article, the word “family”

shall have the same meaning as defined in the Explanation to Article 58.”;

(14) in Article 54, in clause (b),—

(a) in sub-clause (i), for the words “Eighty rupees”, the words
“One thousand rupees” shall be substituted;
28 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY

(b) in sub-clause (ii), for the words “Seventy rupees”, the words
“One thousand rupees” shall be substituted;

(15) In Article 55, in the Explanation, the following expression shall be

added at the end, namely:—

“and shall include the legal heirs of a deceased family member, if any.”;

(16) in Article 57, in clause (b), for the words “Eighty rupees”,
the words “Five hundred rupees” shall be substituted;

(17) in Article 58, in clause (b), for the words “Eighty rupees”,
the words “One thousand rupees” shall be substituted;

(18) in Article 61, in clause (b), for the words “Forty rupees”, the words
“One thousand rupees” shall be substituted;

(19) in Article 62, for clause (e), the following clause shall be substituted,
namely:—
“(e) of any trust property from one One thousand rupees or such
trustee to another trustee or smaller amount as may be
from a trustee to a beneficiary of chargeable under clause (c) of
the same trust. this Article.”;
(20) in Article 64,—
(i) in clause (a), for the words “One hundred and eighty rupees”,
the words “One thousand rupees” shall `be substituted;
(ii) in clause (b), for the words “One hundred and twenty
rupees”, the words “One thousand rupees” shall be substituted.
 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 29

STATEMENT OF OBJECTS AND REASONS.

Stamp duty for documents are chargeable at the rate indicated in Schedule-I of the Indian Stamp Act, 1899
(Central Act II of 1899). For some of the instruments, it is fixed advalorem and for some of the instruments it is
charged on a fixed basis. The rate of stamp duty for most of the instruments have not been revised since 2001. The
cost of printing of physical non-judicial stamp papers have increased manifold times since then. The Government
have, therefore, decided to revise the rate of stamp duty for some of the instruments by amending Schedule-I of the
said Central Act II of 1899, suitably.

2. The Bill seeks to give effect to the above decision.

P. MOORTHY,
Minister for Commercial Taxes and Registration.

Secretariat, K. SRINIVASAN,
Chennai-600 009, Secretary.
17th April 2023.

PRINTED AND PUBLISHED BY THE DIRECTOR OF STATIONERY AND PRINTING, CHENNAI

ON BEHALF OF THE GOVERNMENT OF TAMIL NADU