Comparison between Indian Stamp Bill 2023 and the Indian Stamp Act 1899

The differences between the proposed draft of the indian stamp bill 2023 and that of the indian stam act
1899 are as follows:-

Indian Stamp Bill 2023 Indian Stamp Act 1899

Sec 2 (1) "allotment list" has been added in the Missing

definitions the bill

Sec 2 (9) “Chief Controlling Revenue Authority” _

has been added in the definitions the bill

Sec 2 (10) "clearance list" has been added in the _

definitions the bill

Sec 2 (11) "clearing corporation" has been added _

in the definitions the bill

Sec 2 (14) "debenture" has been added in the _

definitions the bill

Sec 2 (15) "depository" has been added in the _

definitions the bill

Sec 2 (18) "Impressed stamp" now includes- the _

definition of (c) electronic stamp or e-stamp

Sec 2 (20) "Instrument" now includes- the _

definition of (b) a document, electronic or
otherwise ; further in its Explaination: “a
document includes any electronic record as
defined in clause (t) of sub-section (1) of section 2
of the Information Technology Act, 2000 (21 of
2000).

Sec 2 (22) "issuer" has been added in the _

definitions the bill

Definition of Sec 2 (24) "marketable security" has
been changed to : "marketable security" means a
security capable of being traded in any stock
exchange in India;
It was: [(16A) “Marketable security”. —
“marketable security” means a security of such a
description as to be capable of being sold in any
stock market in 4 [India] or in the United
Kingdom:]
Sec 2 (25) "market value" has been added in the _
definitions the bill
Sec 2 (34) "securities” has been added in the _
definitions the bill

Sec 2 (37) "stock exchange" has been added in the _

definitions the bill

The term “gift lease” has been included in the Sec. _

4 of the bill

Sec.15 “Strategic sale, disinvestment, etc., of _

immovable property by Government company not
liable to stamp duty” has been added to the bill
which also involves in its explanation the
definition of "Government company".

Sec.17 “Instruments chargeable with duty for _

transactions in stock exchanges and depositories”
has been added.

Sec. 18 “Instruments chargeable with duty for _

transactions otherwise than through stock
exchanges and depositories” has been added.

Sec. 57A “Instruments under-valued how to be 54A. Allowances for stamps in denominations of
dealt with” has been added to the bill. annas- has been repealed

54B. Allowances for Refugee Relief Stamps. has

been repealed

Sec. 72. General Penalty- has been added to the _

bill.

Sec. 74. Power of the Central Government to _

make rules has been added to the bill.

Sec. 75. Power to issue directions and to authorise _

certain authorities to issue instructions, etc, has
been added to the bill.