THE KARNATAKA STAMP (AMENDMENT) ACT, 2024
KARNATAKA ACT NO. 23 OF 2024
Arrangement of Section
Sections:
1. Short title and commencement
2. Amendment of section 10A
STATEMENT OF OBJECTS AND REASONS
Amendment Act 23 of 2024:- It is considered necessary further to amed the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) as per 2023-24 July Budget speech para number 321 to promote good governance by prohibiting the collection of Stamp duty through Demand Draft and Pay Order by the Inspector General of Stamps and Registration and their subordinate offices and thereby prevent leakages of revenue.
Hence, the Bill.
[L.A. Bill No.21 of 2024, File No. SAMVYASHAE 24 SHASANA 2024]
[Entries 63 of List II of the Seventh Schedule to the Constitution of India.]
[Published in Karnataka Gazette Extra-ordinary No.265 in part-IVA dated:10.06.2024]
KARNATAKA ACT NO. 23 OF 2024
(First Published in the Karnataka Gazette Extra-ordinary on the 10th day of June, 2024)
THE KARNATAKA STAMP (AMENDMENT) ACT, 2024
(Received the assent of the Governor on the 21st day of March, 2024)
An Act further to amend the Karnataka Stamp Act, 1957.
Whereas it is expedient further to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) for the purposes herein after appearing;
Be it enacted by the Karnataka State Legislature in the Seventy fifth year of the Republic India as follows:-
1. Short title and commencement.- (1) This Act may be called the Karnataka Stamp (Amendment) Act, 2024.
(2) It shall come into force at once.
2. Amendment of section 10A.- In the Karnataka Stamp Act, 1957, (Karnataka Act 34 of 1957) in section 10A, in sub-section (1), the words “or by demand draft or by pay order drawn on a branch of any scheduled bank” and the words “or upon production of demand draft or pay order as the case may be” shall be omitted.
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