Panchayat:Repo18/Law Manual Page0511

THE KERALA PANCHAYAT RAJ (DUTY ON TRANSFER OF PROPERTY) RULES, 1995*

[Translation in English of the Kerala Panchayat Raj (Duty on transfer of property) Rules, 1995, published under the authority of the Governor.]. S.R.O. No.1536/95.— In exercise of the powers conferred by Section 206 of the Kerala Panchayat Raj Act, 1994 (13 of 1994), read with Section 254 thereof, the Government of Kerala hereby make the following rules, namely:

RULES

1. Short title and commencement.-

(1) These rules may be called the Kerala Panchayat Raj (Duty on transfer of property ) Rules, 1995.

(2) They shall come into force at once. 2. Definitions.- In these rules, unless the context otherwise requires, (i) 'Government' means the Government of Kerala;

(ii) 'Instrument' means the instrument of sale, exchange, gift, mortgage with possession or lease in perpetuity regarding immovable property on which duty on transfer of property is leviable under Section 206 of the Kerala Panchayat Raj Act, 1994 (13 of 1994), but does not include instruments regarding sale of hereditary rights, sale of fishing rights and gifts included in the definition of settlement in the Stamp Act, and sale certificates;

(iii) 'Inspector General of Registration' means the Inspector General of Registration, Kerala appointed by the Government of Kerala;

(iv) 'Registering Officer' means an officer of the Registration Department of Kerala State who is authorised to register any instrument;

(v) ‘Stamp Act' means the Kerala Stamp Act, 1959 (Act 17 of 1959);

(vi) 'Duty on transfer of property' means the duty that is leviable on transfer of property under Section 206 of the Kerala Panchayat Raj Act, 1994 (13 of 1994);

(vii) The words and expressions used and not defined in these rules shall have the meanings respectively assigned to them in the Act and the Kerala Stamp Act, 1959 and the rules made thereunder.

3. Provisions of the Stamp Act to apply to duty on transfer of property.-

(1) All the provisions in the Kerala Stamp Act, 1959 and the rules made thereunder shall, as far as may be, apply to duty on transfer of property as they apply to the duty leviable under that Act.

(2) If the duty on transfer of property or any portion thereof is less than fifty paise, such duty or portion shall not be collected, but if it is fifty paise or more such duty or portion shall be fixed and collected as one rupee.