The Department of Parliamentary Affairs and Legislation, Government of Karnataka, has on February 03, 2024, notified the Karnataka Stamp (Amendment) Act, 2023 ("Amendment Act") which has amended the stamp duty applicable on instruments executed within the state of Karnataka. In addition to revising the applicable stamp duty for instruments, including without limitation, affidavits, deeds, memorandums, power of attorney, title agreements, conveyance, counterparts, bonds etc., the Amendment Act has also a new article concerning bank guarantees.
The key changes introduced by the Amendment Act, have been summarized here.
Please find a copy of the Amendment Act, here.
Originally published 01st Mar, 2024
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