[Provided that the duty paid on such power of attorney isadjustable towards the duty payable on agreement for saleunder Article 5(e) or intrument of sale or as the case maybe,executed between the same parties and in respect of thesame property.]
Explanation 1(1) The expression "Lease" shallmean a holder of a lease, for a periodexceeding thirty years or more or inperpetuity or does not purport to befor any definite term.(2) The expression "building" shallmean a building having more thanone apartment or flat or officeaccommodation or portion of amultistoried building or both.Provided that, when proper stamp duty is paid under"clause (e), or clause (f) of the article 5, as the case may be,on such agreement or records thereof or memorandum of an agreement executed between the same parties and inrespect of the same property, the duty chargeable underthese clauses shall be as per article 41(f)".
1. Clause (e) substituted by Act No.9 of 2009 w.e.f. 1-4-2009.,
2. clause (e) and (ea) substitued by Act No.9 of 2009 w.e.f 1-4-2009.,3. Substituted by Act No.16 of 2011, w.e.f. 1.4.20114. Clause (ea) omitted by Act No.16 of 2011, w.e.f.1-4.-2011
escription of Instrument
Proper Stamp Duty
(eb) When given to person other than the father, mother,wife or husband, sons /daughters, brothers, sisters inrelation to the executant authorising such person to sellimmovable property situated in Karnataka State.
[The same duty as a conveyanceunder Article 20(1) on the marketvalue of the property which is thesubject matter of power of attorney.
[ Provided that the duty paid on suchpower of attorney is adjustable towardsthe duty payable on agreement for saleunder article 5(e) or on the instrumentof sale or transfer,as the case may be,executed between the same parties inrespect of the same property.]
[(f) When executed by a principal or client for the solepurpose of authorizing the agent or broker to carry out alllawful acts and deeds relating to his/her tradingoperations inlcudeing sale/purchase of marketablesecurities, transfer of securities towards stock exchange,receiving/ releasing funds and securities from/to otherparties on behalf of the principal or client.
[(g) When executed by a principal or client for the solepurpose of authorizingthe depository participant to carryout all lawful acts and deeds relating to his/her demataccount as per the bye-laws of thedepositories/regulations governing such operations.6(h) in any other case.
[Two hundred rupees.]