THE KARNATAKA STAMP (AMENDMENT) ACT, 2016
(Received the assent of the Governor on the Thirty First day of March, 2016) An Act further to amend the Karnataka Stamp Act, 1957.
KARNATAKA ACT NO 9 OF 2016
(First Published in the Karnataka Gazette Extra-ordinary on the First day of April, 2016)
Whereas it is expedient further to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), for the purposes hereinafter appearing;
Be it enacted by the Karnataka State Legislature in the sixty-seventh year of the Republic of India as follows:-
1. Short title and commencement.– (1) This Act may be called the Karnataka Stamp ( Amendment) Act, 2016.
(2) It shall come into force at once.
2. Amendment of Section 9.- In the Karnataka Stamp Act, 1957, (Karnataka Act 34 of 1957) in section 9, in sub-section (1), in clause (a), after the eighth proviso, the following shall be inserted, namely:-
"Provided also that the State Government may, in public interest, by notification till 25.03.2020 reduce or remit to the extent specified in the Tourism Policy 2015-2020 the stamp duty payable on any instrument executed by or in favour of the “eligible entities” as defined in connection with the Karnataka Tourism Policy, 2015-2020 specified in the Government Order No.TD 81 TTT 2014, dated 26.03.2015 or specified by the State Government from time to time. "
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