In this Act, unless there is anything repugnant in the subject or context,- (a) "Ad valorem stamp" means a stamp which is affixed to a document in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (b) "Ad valorem stamp duty" means the duty chargeable on an instrument or document under this Act in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (c) "Ad valorem stamp paper" means paper on which an ad valorem stamp is impressed; (d) "Ad valorem stamp duty" means the duty chargeable on an instrument or document under this Act in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (e) "Document" means any document, whether relating to property of any description or not, which is required by this Act to be stamped; (f) "Instrument" means any document, whether relating to property of any description or not, which is required by this Act to be stamped; (g) "Non-judicial stamp paper" means paper on which a non-judicial stamp is impressed; (h) "Non-judicial stamp" means a stamp which is impressed on paper in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (i) "Non-judicial stamp duty" means the duty chargeable on an instrument or document under this Act in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (j) "Stamp" means any stamp impressed on paper in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (k) "Stamp duty" means the duty chargeable on an instrument or document under this Act in accordance with the rate or rates prescribed by this Act in respect of the value of the instrument or document; (l) "Stamp paper" means paper on which a stamp is impressed; (m) "State Government" means the Government of any State in India; (n) "Value of an instrument or document" means the value of the instrument or document as ascertained in accordance with the provisions of this Act.
Stamp Act, 1899
Section 3
Definitions
⚡ Quick Answer Reference: Section 3 Stamp Act, 1899
- Provision: Section 3 of Stamp Act, 1899
- Act: Stamp Act, 1899
- Classification: tax
- Jurisdiction: India
- Summary: This section defines key terms used in the Stamp Act, 1899, including ad valorem stamp, ad valorem stamp duty, non-judicial stamp, and stamp duty. It clarifies the meaning of these terms and their application in relation to the value of instruments or documents.
What does Section 3 of Stamp Act, 1899 say?
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What does Section 3 of Stamp Act, 1899 mean?
Plain English Explanation
This section defines key terms used in the Stamp Act, 1899, including ad valorem stamp, ad valorem stamp duty, non-judicial stamp, and stamp duty. It clarifies the meaning of these terms and their application in relation to the value of instruments or documents.
Practical Interpretation
In practical terms, this section helps to ensure that stamp duties are accurately calculated and applied to various documents and instruments. It provides a framework for understanding the different types of stamps and duties, which is essential for compliance with the Act.
Core Legal Purpose
The core purpose of this section is to provide a clear and consistent definition of key terms used in the Stamp Act, 1899. This helps to promote transparency and fairness in the application of stamp duties, and ensures that individuals and organizations understand their obligations under the Act.
- •The section defines key terms used in the Act.
- •The definitions are based on the value of instruments or documents.
- •The section clarifies the meaning of ad valorem stamp, ad valorem stamp duty, non-judicial stamp, and stamp duty.
- •The section does not prescribe a penal punishment.
Practical Example of Section 3 Stamp Act, 1899
Rajesh, a businessman, needs to purchase a non-judicial stamp paper for a document related to his business. He visits a stamp vendor and purchases a stamp paper with the required value. The vendor explains to Rajesh that the stamp paper is used to calculate the stamp duty based on the value of the document. Rajesh understands the importance of using the correct stamp paper and pays the required stamp duty. In this scenario, Section 3 of the Stamp Act, 1899, is applied to ensure that Rajesh complies with the Act and pays the correct stamp duty.
Frequently Asked Questions about Section 3 Stamp Act, 1899
Q: What is the punishment or consequence under Section 3 of Stamp Act, 1899?
This section is a procedural provision and does not prescribe a penal punishment.
Q: Does this section apply to private individuals or public entities?
This section applies to both private individuals and public entities, as it defines key terms used in the Act.
Q: Is an offence under this section bailable or cognizable?
This section is a procedural provision and does not prescribe a penal punishment, therefore it is not bailable or cognizable.
Common Questions about Section 3 Stamp Act, 1899
What is Section 3 of Stamp Act, 1899?
Section 3 of the Stamp Act, 1899 (Stamp Act, 1899) defines and regulates "Definitions". In plain terms: This section defines key terms used in the Stamp Act, 1899, including ad valorem stamp, ad valorem stamp duty, non-judicial stamp, and stamp duty. It clarifies the meaning of these terms and their application in relation to the value of instruments or documents.
What are the elements of Section 3 of Stamp Act, 1899?
The essential elements of Section 3 of Stamp Act, 1899 are: The section defines key terms used in the Act.; The definitions are based on the value of instruments or documents.; The section clarifies the meaning of ad valorem stamp, ad valorem stamp duty, non-judicial stamp, and stamp duty..
Landmark Judgments under Section 3 Stamp Act, 1899
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