The Himachal Pradesh Legislative Assembly has introduced the Indian Stamp (Himachal Pradesh Amendment) Bill, 2025, aiming to revise stamp duty rates under the Indian Stamp Act, 1899 as applicable in the state.
This amendment specifically impacts transactions requiring government permission under Section 118(2)(h) of the Himachal Pradesh Tenancy and Land Reforms Act, 1972 — typically for non-agriculturists acquiring land in the state.
🔑 Key Provisions:
🏠 Conveyance of Property (Article 23):
- Stamp duty set at 12% of the market value or consideration amount, whichever is higher.
- Applies to cases where permission is granted under Section 118(2)(h).
- No gender-based exemption.
- Minimum duty: ₹100
- Rounding off: Duty to be rounded to the nearest ₹10.
🏢 Lease of Property (Article 35):
- Clause (a):
- Stamp duty at 12% of market value.
- Formula:
12% × Market Value × (Lease Period in Years) / 100 - Minimum: ₹100
- Rounded off to nearest ₹10.
- Clause (b):
- Duty is 12% of either:
- Market value of the leased property, or
- Total lease amount payable
— whichever is higher.
- Minimum: ₹100
- Rounded off to nearest ₹10.
- Duty is 12% of either:
📜 Repeal of Ordinance:
- The Indian Stamp (Himachal Pradesh Amendment) Ordinance, 2025 stands repealed.
- All actions taken under the Ordinance are deemed valid under the new Act.
📅 Effective Date:
- The Act is deemed to be in force from February 18, 2025.
This amendment brings uniformity and clarity in the calculation of stamp duty for property transactions that require special permission in Himachal Pradesh and aims to simplify revenue collection for the state.
