Indian Stamp Act notifications on consolidated stamp duty for insurance policies
The Tamil Nadu Government Gazette, Part II, Section 2, published by the Government of Tamil Nadu on October 20, 2021, carries notifications of the Commercial Taxes and Registration Department under the Indian Stamp Act, 1899. These notifications fix consolidated stamp duty amounts for insurance policies issued by specified offices of the New India Assurance Company Limited and the Life Insurance Corporation of India for stated periods, and they also amend earlier Gazette notifications by changing amounts or extending validity periods.
What this Gazette page does
The Tamil Nadu Government Gazette, Part II, Section 2, published by the Government of Tamil Nadu on October 20, 2021, contains notifications issued by the Commercial Taxes and Registration Department under the Indian Stamp Act, 1899. The Governor of Tamil Nadu uses these notifications to allow consolidated stamp duty for insurance policies issued by named insurance offices, and to amend earlier notifications already published in the Gazette.
Who it affects
This Gazette material mainly affects:
- insurance companies and their named branch or divisional offices,
- people and businesses taking insurance policies from those offices,
- professionals who check stamp duty compliance in insurance transactions.
It is not a land acquisition or property classification notification. For most property buyers and owners, it matters only if they are checking stamp duty treatment for insurance policies issued by the listed offices.
New consolidated duty notifications published here
The Commercial Taxes and Registration Department published fresh consolidated duty notifications for these offices and periods:
- New India Assurance Company Limited, Poonamallee, Chennai, for the period from 01-07-2021 to 31-12-2021.
- New India Assurance Company Limited, Teynampet, Chennai-18 and two other offices, for the period from 01-07-2021 to 31-12-2021.
- New India Assurance Company Limited, Tambaram (W), Chennai, for the period from 01-07-2021 to 31-12-2021.
- New India Assurance Company Limited, Pattulos Road, Chennai-2, for the period from 01-05-2021 to 30-04-2022.
- New India Assurance Company Limited, Madurantakam, for the period from 01-07-2021 to 30-06-2022.
- Life Insurance Corporation of India, Divisional Office, Tirunelveli, for the period from 1-07-2021 to 30-09-2021.
- Life Insurance Corporation of India, Divisional Office-I, Chennai-2, for the period from 1-10-2021 to 31-12-2021.
Amendments to earlier notifications
The Commercial Taxes and Registration Department also amended earlier Gazette notifications for several offices, including:
- Tiruvannamalai,
- Anna Salai, Chennai-2,
- Woods Road, Chennai-2,
- Purasawalkam, Chennai-7,
- Anna Salai, Chennai-6,
- Mylapore, Chennai-4,
- Life Insurance Corporation of India, New Business Department, Divisional Office, Sellur, Madurai,
- Life Insurance Corporation of India, P and GS Department, Divisional Office, Salem,
- Coimbatore.
The amendments shown in the text do two main things:
- extend the end date of an earlier notification, or
- revise the consolidated duty amount in an earlier notification.
Practical takeaway
If your insurance policy was issued through one of the named offices, the applicable stamp duty may have been handled through a consolidated amount fixed by these Gazette notifications instead of being looked at policy by policy. If you are verifying an older insurance record, check the exact office name and the period mentioned in the Gazette entry.
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 issue deal with land or property ownership?
No. The text here is about consolidated stamp duty for insurance policies under the Indian Stamp Act, 1899, issued through specified insurance offices.
Which insurers are named in these notifications?
The text names the New India Assurance Company Limited and the Life Insurance Corporation of India, through specific branch, divisional or departmental offices.
Are earlier notifications changed by this Gazette publication?
Yes. Several entries are expressly titled as amendments to earlier notifications, and they substitute revised dates or revised consolidated duty amounts.
How do I know if this affects my insurance policy?
Check whether your policy was issued by one of the offices named in the Gazette, such as Poonamallee, Teynampet, Tambaram (W), Pattulos Road, Madurantakam, Tirunelveli or Divisional Office-I, Chennai-2, and whether it falls within the period stated for that office.
