Notifications under the Indian Stamp Act (16 II 2 v6)
The Commercial Taxes and Registration Department, Government of Tamil Nadu, issued G.O.(Rt.) No.196 dated 27th March 2014, G.O.(Rt.) No.203 dated 28th March 2014 and G.O.(Rt.) No.204 dated 28th March 2014 to consolidate stamp duty chargeable on policies issued by two named insurance companies. The notifications cover specified periods and operations of the New India Assurance Company Limited and the United India Insurance Company Limited in Chennai and the Madurai Region.
What the notifications govern
The Commercial Taxes and Registration Department, Government of Tamil Nadu, published three notifications under the Indian Stamp Act, 1899. Acting under the power identified in the notifications, the Governor of Tamil Nadu provided for consolidation of the duty chargeable on insurance policies issued by specified insurance companies during fixed periods.
The notifications relate only to the named insurance companies, offices or regions and periods. They do not state any change to stamp duty on land sales, property registrations or other land documents.
Consolidated duty for each insurer
The three government orders provide:
- G.O.(Rt.) No.196, Commercial Taxes and Registration (J1), dated 27th March 2014, consolidates duty of Rs.20,000 chargeable on policies issued by the New India Assurance Company Limited, Chennai, from 1st March 2014 to 31st August 2014. The corresponding notification is No. II(2)/CTR/314/2014.
- G.O.(Rt.) No.203, Commercial Taxes and Registration (J1), dated 28th March 2014, consolidates duty of Rs.1,09,50,000 chargeable on policies issued by the United India Insurance Company Limited across the Madurai Region from 1st April 2014 to 30th September 2014. The corresponding notification is No. II(2)/CTR/315/2014.
- G.O.(Rt.) No.204, Commercial Taxes and Registration (J1), dated 28th March 2014, consolidates duty of Rs.5,00,000 chargeable on policies issued by the United India Insurance Company Limited through its Regional Office in Chennai from 1st March 2014 to 30th April 2014. The corresponding notification is No. II(2)/CTR/316/2014.
Who is affected
The notifications directly concern the New India Assurance Company Limited in Chennai and the United India Insurance Company Limited in the Madurai Region and through its Regional Office in Chennai. The source does not impose a separate requirement on property buyers, landowners or parties registering property documents.
Practical relevance for property readers
A property buyer or owner reviewing these Gazette pages should note that the subject is consolidated duty on insurance policies. The text contains no provision changing land classification, ownership, registration procedure, property valuation or stamp duty for a land transaction.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does this Gazette notification change stamp duty on buying or registering land?
The text does not state any change to stamp duty on land purchases or property registration. It deals with consolidated duty on policies issued by specified insurance companies.
Which insurance companies are covered?
The notifications cover the New India Assurance Company Limited, Chennai, and the United India Insurance Company Limited in the Madurai Region and through its Regional Office in Chennai.
What consolidated duty applies to United India Insurance Company Limited in the Madurai Region?
G.O.(Rt.) No.203 dated 28th March 2014 provides for consolidated duty of Rs.1,09,50,000 on policies issued across the Madurai Region from 1st April 2014 to 30th September 2014.
What period is covered for the New India Assurance Company Limited, Chennai?
G.O.(Rt.) No.196 dated 27th March 2014 covers policies issued from 1st March 2014 to 31st August 2014, with consolidated duty of Rs.20,000.
