d;on'; ifq; Bank

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R&LSECTION ICIRCULAR
CIRCLE OFFICE, MANGALORE DATE :05-05.2015

SUB: REVISED STAMP DUTY ON VARIOUS INSTRUMENTS

ln view of the various amendments in the Karnataka Stamp Act, 1957, we are issuing the
sectionaL CircuLar detajting stamp duties on various instruments in supercession of the
eartier Circulars issued.

5l Description of lnstrument Stamp Duty

No
1 Acknowledgement of a Debt Two Rupees
lf the amount or vatue of such Debt
a) Exceeds rupees 100 but does not exceed
Rupees 5,000
b) When exceeds Rs 5,000 Two rupees ptus rupees two
for every thousand or part
thereof, Subject to a
maximum of rupees one
thousand
2 Affidavit Twentv Rupees
3 Agreement of Sale ( Possession not delivered) 10 paise for every one
hundred rupees or part
thereof on the market vatue
equaL to the amount of
consideration max Rs 20,000
and min Rs 500/-

4 a) Any agreement other than Rupees two hundred

hypothecation/powerof attorney/
indemnity/counter indemnitv
b) Guarantee/ Corporate guarantee same as stamp duty as on
asreements (Rs 200/-)
5 Agreement relating to hypothecation of movable Rupees ten far every rLtpees
property ten thousands at part
lf the toan is repayable on demand thereof
i) Where the loan amount does not exceeds
rupees ten lakhs
ji) Where the loan amount exceeds rupees Rupees twenty for every
ten [akhs rupees ten thousonds or
part thereof , subject to o
moximum of rupees ten
lokhs
Agreement relating to deposit of titLe deeds 0,1 percent on the loan or
the deposit of titte deeds or instruments constituting debt amount subject to o
6 or being evidence of the titte to any property minimum ol rupees five
whatever (other than a marketable security), where hundred
suclr deposit, has been made by way of securjty for
the repayment of money advanced or to be
advanced bv wav of loan or an existinq or future ffi
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 debt,
ifsuch toan or debt is repayable on demand from the
date of instrument evidencing the agreement
i) Where the loan or debt amount does not

li) Where the Loan or debt arnount 0.2 percent on the loon ar
exceeds rupees ten lakhs debt amount subject to a
maximum of Rupees ten
lokhs
Simple Mortgage 0.5% of the loan amount
Counter lndem Rupees two Hundred
lndemnity Bond Rupees two Hundred

One Hlndred Ru
0.1 percent on the laan ar
ll'e paun or ptedge of ro'edo.e propartV.
slralr pa\^r or oledge has been rade bt.oy^h6re
ot
securjty for the repayment of money advanced or to
be advanced by way of toan or an exjstjnq or future
debt.
lf such loan or debt js repayabLe on Demand or
otherwise
j) Where the (oan amount exceeds rupees
one lakh but does not exceed rupees ten
takhs
iit v/heialhe toan amount exceAaa 0.2 percent ot1 the loatl or
debt omaunt subject ta a
maximum of rupees ten
lakhs
tnstruments.of paw
Rupees one Lakh is exempted from Stamp duty
Ptease note that ptedge / pawn of movable pr operty (gotd) For agr lcLrLtural plr poses
l ifl,^mptFd'rom pay-ent o. slamD d r.v
NOTE:

As per Stamp Act, stamp duty has to be affixed on or before the execution
of the
document and not subsequently.

ln Karnataka in lieu of AOD, letter of revival is to be obtained which need not be

stamped.

Stamp duty with respect to promissory note, bill of exchanqe, etc is detaited in HO
Circular 1 00/2004 dated 26-4-2004.

The Government of Karnataka, exempted the payment of stamp duty and registration
fees on the following documents, with effect from O1.O4.20lO:

1. lnstruments executed by or in favour of any person to obtain or repay loan as

the case may be, for an agricultural purpose as defined in the Karnataka
Agricultural Credit Operations and Miscellaneous provisions Act 1974 (Karnat
Act 2 of 1975)

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 2. Instruments executed by or in fayour of Loanee to obtain or repay loan, as the
case may be, for the purpose of pursuing education, acquiring and installing
\/ater harvesting units and non-conventional energy deyices such as solar
energy and biogas energy,

Wherever branches haye already obtained the concerned documents on or after 01-
04-2015 paying stamp duty as per our earlier Circular, it may be ensured that the
dr'fferentiaL stamp duty, if any, is paid immediately by submitting the same to the DC
of the District/ District Registrar of stamps, a5 the case may be,

Att the branches are advised to take note of the above and stamp the document
accordingty.

ffif1idl
SUJATHA KA

p]o'*u*L
MANAGER
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