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Legal Central Ministry of Home Affairs Indian Stamp Act, 1899

Government of Punjab notifies Indian Stamp (Punjab Amendment) Act, 2025

21-Apr-2025 | No. 5-Leg./2025

Government of Punjab via notification dated 21st April 2025, has notified Indian Stamp (Punjab Amendment) Act, 2025. Which will come into effect from the date of its publication in the official gazette, i.e. 21st April 2025. By virtue of the amendment the following changes are made: 1. In Schedule 1-A, in entry 6, at the end, for the words and sign "from the date of such instrument.", the words and sign "from the date of such instrument:" shall be substituted. 2. The following proviso shall be added: - Provided that if Stamp-duty has been paid by a debtor under this entry for the purpose of a loan and thereafter the debtor switches over that loan to some other Bank or Financial Institution, he shall not be liable to pay Stamp-duty under this entry for switching over the loan in case the immovable or movable assets and the instrument which was mortgaged, hypothecated etc. under this entry, earlier, remains the same and loan amount is same or lesser than the earlier amount. However, if the loan amount is higher than the earlier amount, then the Stamp-duty shall be liable to be paid only on the additional amount. For more information, please refer to the document attached hereby.

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