Schedule I, Article 35: Lease

LEASE, including an under-lease or sub- lease and any agreement to let or sub-let— (a) where by such lease the rent is fixed and no premium is paid or delivered— (i) where the lease purports to be for a term of less than one year; (ii) where the lease purports to be for a term of not less than one year but not more than three years; (iii) where the lease purports to be for a term in excess of three years, but not more than twenty years; (iv) where the lease purports to be for a term in excess of twenty years or in perpetuity; and (v) where the lease does not purport to be for any definite term. (b) (i) where the lease is granted for money advanced and where no rent is reserved; (ii) where the lease is granted for a fine or premium and where no rent is reserved; and (c) (i) where the lease is granted for money advanced in addition to rent reserved; and (ii) where the lease is granted for a fine or premium in addition to rent reserved EXEMPTION:— Lease, executed in the case of a cultivator and for the purposes of cultivation (including a lease of trees for the production of food or drink) without the payment or delivery of any fine or premium when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees. Proper stamp-duty: Two percent of the whole amount payable or deliverable under such lease. Two percent of the amount or value of the average annual rent reserved. Two percent of the consideration equal to the amount or value of the average annual rent reserved. Two percent of the consideration equal to the whole amount of rents which would be paid or delivered in respect of the first ten years of the lease. Two percent of the consideration equal to the amount or value of the average annual rent which would be paid or delivered for the first ten years, if the lease continued so long. Two percent of the consideration equal to the amount of such advanced as set forth in the lease. Two percent of the consideration equal to the amount of such fine or premium as set forth in the lease. Two percent of the consideration equal to the amount of advance as set forth in the lease, in addition to the duty which would have been payable on such lease, if no advance had been paid or delivered; provided that, in any case when an agreement to lease is stamped with the ad valorem stamp required for a lease and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed four rupees. Two percent of the consideration equal to the amount of such fine or premium as set forth in lease in addition to the duty which would have been payable on such lease if no fine or premium has been paid or delivered: Provided that, in any case when an agreement to lease is stamped with an ad valorem stamped required for a lease and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed one hundred rupees.

Amendment history

• v2 · 2026-07-24 11:25:44 — Phase 2W reapply (text)

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