Stamp Act

Powerful Essays
Topics: Trigraph, Contract
STAMP ACT-1899
Sadhan Chandra Mondal
AGM Agrani Bank Limited

Introduction : ‘Instruments’ are such papers by which it is assumed that some rights or responsibilities are created, transferred, extended, dismissed or filed. Such papers may not be called as ‘Instruments’ unless and until it is signed. Similarly every instrument should be stamped properly; otherwise it would be null and void in the eye of law.

Stamps are of four types. They are: 1) Judicial stamp, 2) Non-judicial stamp, 3) Adhesive stamp,
And 4) Impressed stamp.

Section-3 of Stamp Act-1899 is concerned with stamp duty for different instruments. By this section Government fixes stamp duty from time to time. According to Schedule-1, Sec.-3 of Stamp Act-1899, here is such list of stamp duty of instruments frequently used in banks:

|Sl no. |Description of Instruments |Proper stamp duty |
|1 |ACKNOLEDGEMENT of a debt exceeded taka five hundred in amount or value, written |Tk. 10.00 |
| |or signed by. | |
|4 |AFFIDAFIT |Tk. 200.00 |
|5 |AGREEMENT or MEMORANDUM of an AGREEMENT | |
| |(a) if relating to the sale of BILL OF EXCHANGE |Tk. 50.00 |
| |(b) i) if relating to the sale of Govt. Security |Tk. 2.00 for every Tk. 5000 and thereof , minimum Tk. 200.00|
| | ii) if relating to the sale of share of a Company |Tk. 2.00 for

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