(1) The Government may, by notification in the Official Gazette, remit in respect of any class of co-operative societies -
(a) the stamp duty chargeable under any law for the time being in force in respect of any instrument executed by or on behalf of a co-operative society, or by an officer or member thereof and relating to the business of such society, or any class of such instruments or in respect of any award or order made under this Act, in cases where, but for such remission, the co-operative society, officer, or member, as the case may be, would be liable to pay such stamp duty:
Provided that nothing in this clause shall apply in respect of bills of exchange, cheques, promissory notes, bills of lending, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts;
(b) any fee payable under any law for the time being in force relating to registration of documents or court fees:
(c) any tax, surtax, duty or surcharge levied or imposed -
(i) by or under any law for time being in force; or
(ii) by any local authority.
(2) Nothing in clauses (b) and (c) of sub-section (1) of Section 17 of the Registration Act, 1908 (Central Act 16 of 1908) shall apply to -
(a) any instrument relating to shares in a co-operative society, notwithstanding that the assets of the society consist in whole or in part of immovable property; or
(b) any debentures issued by any such society and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property except it so far as it entitles the holder to the securing afforded by a registered instrument whereby the society has mortgaged, conveyed or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holders of such debentures; or
(c) any endorsement upon or transfer of any debenture issued by any such society.
(a) the stamp duty chargeable under any law for the time being in force in respect of any instrument executed by or on behalf of a co-operative society, or by an officer or member thereof and relating to the business of such society, or any class of such instruments or in respect of any award or order made under this Act, in cases where, but for such remission, the co-operative society, officer, or member, as the case may be, would be liable to pay such stamp duty:
Provided that nothing in this clause shall apply in respect of bills of exchange, cheques, promissory notes, bills of lending, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts;
(b) any fee payable under any law for the time being in force relating to registration of documents or court fees:
(c) any tax, surtax, duty or surcharge levied or imposed -
(i) by or under any law for time being in force; or
(ii) by any local authority.
(2) Nothing in clauses (b) and (c) of sub-section (1) of Section 17 of the Registration Act, 1908 (Central Act 16 of 1908) shall apply to -
(a) any instrument relating to shares in a co-operative society, notwithstanding that the assets of the society consist in whole or in part of immovable property; or
(b) any debentures issued by any such society and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property except it so far as it entitles the holder to the securing afforded by a registered instrument whereby the society has mortgaged, conveyed or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holders of such debentures; or
(c) any endorsement upon or transfer of any debenture issued by any such society.
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More sections of this act
Section 1 · Short title, commencement and extentSection 2 · DefinitionsSection 3 · Promotion of Co-operative movementSection 4 · RegistrarSection 5 · Application for registration of co-operative societiesSection 6 · RegistrationSection 7 · Co-operative Societies to be bodies corporate -Section 8 · Bye-lawsIndia Code, Government of India. Text fetched 21 Oct 2026. Source metadata reports last modification: 2024-01-24. Check the linked official text and subsequent notifications when applying a provision.