Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com Bombay Stamp (Amendment) Act, 2008 16 of 2008 CONTENTS 1. Short Title And Commencement 2. Amendment Of Schedule I Of Bom. Lx Of 1958 Bombay Stamp (Amendment) Act, 2008 16 of 2008 (First published, after having received the assent of the Governor, in the "Maharashtra Government Gazette" on the 2nd May, 2008.) An Act further to amend the Bombay Stamp Act, 1958. WHEREAS it is expedient further to amend the Bombay Stamp Act, 1958, for the purposes hereinafter appearing; it is hereby enacted in the Fifty-ninth Year of the Republic of India as follows :- 1. Short Title And Commencement :- (1) This Act may be called the Bombay Stamp (Amendment) Act, 2008. (2) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint. 2. Amendment Of Schedule I Of Bom. Lx Of 1958 :- In Schedule I appended to the Bombay Stamp Act, 1958, - (a) in Article 5, in clause (g-a), - (i) in sub-clause (i) in column 2, for the portion beginning with the words "Five rupees" and ending with the words "value of the property", the following portion shall be substituted namely :- "The same duty as is leviable on a Conveyance under clause (b), (c) or (d), as the case may be, of Article 25, on the market value of the property"; (ii) in sub-clause (ii), in column 1, in the proviso, for the words "within a period of three years" the words "within a period of one year" shall be substituted; (b) in Article 48,- (i) the existing clause (f) shall be renumbered as sub-clause (i) thereof and after sub-clause (i) as so renumbered, the following sub-clause shall be added, namely :- "(ii) when authorising to sell or transfer immovable property without consideration or without showing any consideration, as the case may be,- (a) if given to the father, mother, brother, sister, wife, husband, daughter, grandson, granddaughter or such other close relative; and Rupees five hundred. (b) in any other case The same duty as is leviable on a Conveyance under clause (b), (c) or (d), as the case may be, of Article 25, on the market value of the property."; (ii) in clause (g), in column 2, for the portion beginning with the words " Five rupees " and ending with the words "subject-matter of property", the following portion shall be substituted, namely :- "The same duty as is leviable on a Conveyance under clause (b), (c) or (d), as the case may be, of Article 25, on the market value of the property".