Stamp Duty Rates for Security Documents under Karnataka Stamp Act Amendments
Download Karnataka Revised Stamp Duty rates 2024 in PDF
Effective from February 6, 2024, amendments have been made to the Karnataka Stamp Act, 1957, affecting the stamp duty rates applicable to various instruments typically utilized by banks. Below is a comprehensive guide detailing the new stamp duty rates for specific documents as per the amended Act:
Nature of Document (with Article No.)
1. Agreements [5 (j)]
Old Stamp Duty: ₹200/- (Rupees Two Hundred)
New Stamp Duty: ₹200/- (Rupees Two Hundred)
2. Indemnity Bonds [29 r/w 47(b)]
Old Stamp Duty: ₹500/- (Rupees Five Hundred)
New Stamp Duty: Upto 10.00 Lacs: 0.1% of amount (Minimum ₹500/-); Above 10.00 Lacs: 0.2% of Loan amount (Maximum ₹10.00 Lacs)
3. Bank Guarantee
(i) if relating to paper bank guarantee
Old Stamp Duty: ₹300/- (Rupees Three Hundred)
New Stamp Duty: 0.5% of Loan Amount
(ii) if relating to e-bank guarantee
Old Stamp Duty: ₹200/- (Rupees Two Hundred)
New Stamp Duty: 0.5% of Loan Amount
4. Hypothecation Agreement [34(d)]
Old Stamp Duty: ₹500/- (Rupees Five Hundred)
New Stamp Duty: Upto 10.00 Lacs: 0.1% of Loan amount (Minimum ₹500/-); Above 10.00 Lacs: 0.2% of Loan amount (Maximum ₹10.00 Lacs)
5. General Power of Attorney [41]
Old Stamp Duty: ₹1,000/- (Rupees One Thousand)
New Stamp Duty: ₹100/- (Rupees One Hundred)
6. Special Power of Attorney [41]
Old Stamp Duty: ₹500/- (Rupees Five Hundred)
New Stamp Duty: ₹500/- (Rupees Five Hundred)
7. Letter of Guarantee [Article 31 r/w 5(j)]
Old Stamp Duty: ₹200/- (Rupees Two Hundred)
New Stamp Duty: ₹200/- (Rupees Two Hundred)
8. Affidavit [4]
Old Stamp Duty: ₹20.00/- (Rupees Twenty)
New Stamp Duty: ₹500/- (Rupees Five Hundred)
9. Tripartite Agreement (builder, borrower & bank) [5(j) r/w 41 & 29 r/w 47(b)]
Old Stamp Duty: ₹500/- (Rupees Five Hundred)
New Stamp Duty: Upto 10.00 Lacs: 0.1% of Loan amount (Minimum ₹500/-); Above 10.00 Lacs: 0.2% of Loan amount (Maximum ₹10.00 Lacs)
10. MODT/EQM [6(1)]
Old Stamp Duty: ₹100/- (Rupees One Hundred)
New Stamp Duty: Upto 10.00 Lacs: 0.5% of Loan amount (Minimum ₹500/-); Above 10.00 Lacs: 0.5% of Loan or Debt amount
11. Registered Legal Mortgage CHA 4 [34(b)]
Old Stamp Duty: 0.5% of Loan amount
New Stamp Duty: 0.5% of Loan amount
For discrepancies between actual stamp duty charges and the rates mentioned above, please notify the Legal Department ZO.
It's important to note that stamps affixed on instruments such as Promissory Notes, Bill of Exchange, Letter of Credit, Bill of Lading, Insurance Policy, Receipts, etc. are governed by the Indian Stamp Act, while all others are regulated by the Karnataka Stamp Act.
