(1) Any person,-
(a) drawing, making, issuing, endorsing or transferring, or signing otherwise than as a witness, or presenting for acceptance or payment, or accepting, paying or receiving payment of, or in any manner negotiating, any bill of exchange payable otherwise than on demand or promissory note without the same being duly stamped; or
(b) executing or signing otherwise than as a witness any other instrument chargeable with duty without the same being duly stamped; or
(c) voting or attempting to vote under any proxy not duly stamped; shall for every such offence be punishable with fine which may extend to five thousand rupees;
Provided that, when any penalty has been paid in respect of any instrument under section 39, section 44 or section 71, the amount of such penalty shall be allowed in reduction of the fine, if any, subsequently imposed under this section in respect of the same instrument upon the person who paid such penalty.
(2) If a share-warrant is issued without being duly stamped, the company issuing the same, and also every person who, at the time when it is issued, is the managing director or secretary or other principal officer of the company shall be punishable with fine which may extend to five thousand rupees.
(a) drawing, making, issuing, endorsing or transferring, or signing otherwise than as a witness, or presenting for acceptance or payment, or accepting, paying or receiving payment of, or in any manner negotiating, any bill of exchange payable otherwise than on demand or promissory note without the same being duly stamped; or
(b) executing or signing otherwise than as a witness any other instrument chargeable with duty without the same being duly stamped; or
(c) voting or attempting to vote under any proxy not duly stamped; shall for every such offence be punishable with fine which may extend to five thousand rupees;
Provided that, when any penalty has been paid in respect of any instrument under section 39, section 44 or section 71, the amount of such penalty shall be allowed in reduction of the fine, if any, subsequently imposed under this section in respect of the same instrument upon the person who paid such penalty.
(2) If a share-warrant is issued without being duly stamped, the company issuing the same, and also every person who, at the time when it is issued, is the managing director or secretary or other principal officer of the company shall be punishable with fine which may extend to five thousand rupees.
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More sections of this act
Section 1 · Short title, extent and commencementSection 2 · DefinitionsSection 3 · Instrument chargeable with dutySection 4 · Payment of stamp duty in cashSection 5 · Several instruments used in single transaction of sale, mortgage, agreement or any other document (memorandum etc.) relating to the deposit of title deeds or settlementSection 6 · Instrument relating to several distinct mattersSection 7 · Instruments coming within several descriptions in the ScheduleSection 8 · Payment of duty on copies, counterparts or duplicates when that duty has not been paid on the principal or original documentIndia Code, Government of India. Text fetched 24 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.