OUR CORRESPONDENT
MANGALDAI: All the office bearers and members of Mangaldai Bar Association (MBA) have termed the recent amendment of the Indian Stamps Act, 1889 (Assam Amendment 2021, Act No. XXVII of 2021) as wholly unreasonable, unjustified and implored upon the Assam Government to immediately repeal or amend the unjustified Act No XXVII of 2021 in the ensuing winter session of State Assembly.
In an executive meeting of MBA held recently with its president Madhab Rajbongshi on chair they said that the hike in stamp duty made through the Act XXVII of 2021 is unreasonable and unethical in the sense that in certain cases the percentage of enhancement of the stamp duty is more than 2500%. The meeting observed that the rate of affidavit has been increased from Rs. 15.00 to Rs. 100.00 (566.66%).
Similarly, the adoption rate has been increased from Rs. 200.00 to Rs. 500.00 (150%), Agreement or Memorandum of Agreement from Rs. 20.00 to Rs. 100.00 to Rs. 5000.00 (400% to 4900%), General Power of Attorney from Rs. 200.00 to Rs. 1000.00 (400%), Special Power of Attorney from Rs. 100.00 to Rs. 500.00 (400%), Partnership Deed from Rs. 100.00 to Rs.1000.00 (900%) and Indemnity Bond from Rs. 50.00 to Rs. 1000.00 (1900%).
The meeting after a threadbare discussion unanimously resolved that such unreasonable amendment had adversely affected the people in general and therefore it should be rolled back and also urged upon the government to table a new amendment bill with humane touch after consultation with the important stockholders.
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