Indian Stamp Act, 1899

29. Duties by whom payable

In the absence of any agreement to the contrary, the expense of providing the proper stamp shall be borne-

(a) in the case of any instrument described in any of the following Articles of Schedule I, namely:-

No. 2. (Administration Bonds),

³⁷ [No. 6. (Agreement relating to Deposit of Title deeds, Pawn or Pledge)],

No. 13. (Bill of Exchange),

No. 15. (Bonds),

No. 16. (Bottomry Bond),

No. 26. (Customs Bond),

No. 27. (Debenture),

No. 32. (Further Charge),

No. 34. (Indemnity-bond),

No. 40. (Mortgage-deed),

No. 49. (Promissory-note),

No. 55. (Release),

No. 56. (Respondentia Bond),

No. 57. (Security Bond or Mortgage-deed),

No. 58. (Settlement),

No. 62(a). (Transfer of shares in an incorporated company or other body corporate),

No. 62(b). (Transfer of debentures, being marketable securities, whether the debenture is liable to duty or not, except debentures provided for by section 8),

No. 62(c). (Transfer of any interest secured by a bond, mortgage-deed or policy of insurance),

by the person drawing, making or executing such instrument:

³⁸ [(b) in the case of a policy of insurance other than fire-insurance- by the person effecting the insurance:

(bb) in the case of a policy of fire-insurance- by the person issuing the policy:]

(c) in the case of a conveyance (including a reconveyance of mortgaged property) by the grantee: in the case of a lease or agreement to lease- by the lessee or intended lessee:

(d) in the case of a counterpart of a lease- by the lessor:

(e) in the case of an instrument of exchange- by the parties in equal shares:

(f) in the case of a certificate of sale- by the purchaser of the property to which such certificate relates: and,

(g) in the case of an instrument of partition– by the parties thereto in proportion to their respective shares in the whole property partitioned, or, when the partition is made in execution of an order passed by a Revenue-authority or civil court or arbitrator, in such proportion as such authority, court or arbitrator directs.

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