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Section 35: Instruments not duly stamped inadmissible in evidence, etc
including and under lease or sub-lease and any agreement to let or sub-let: (a) whereby such lease the rent is fixed and no premium is paid or delivered:- i. where the lease purports to be for a term of less than one year. The same duty as a Bond (No.15) for the whole amount payable or deliverable under such lease. ii. where the lease purports to be for a term of not less than one year but not more than five years; The same duty as a Bond (No.15) for the amount or value of the average annual rent reserved. iii. where the lease purports to be for a term exceeding five years and not exceeding ten years; The same duty as a conveyance (No.23) for a consideration equal to the amount or value of the average annual rent reserved. iv. where the lease purports to be for a term exceeding ten years, but not exceeding twenty years; The same duty as a conveyance (No.23) for a consideration equal to twice the amount or value of the average annual rent reserved. v. where the lease purports to be for a term exceeding twenty years, but not exceeding thirty years; The same duty as a conveyance (No.23) for a consideration equal to three times the amount or value of the average annual rent reserved. vi. where the lease purports to be for a term exceeding thirty years, but not exceeding one hundred years; The same duty as conveyance (No.23) for a consideration equal to four times the amount or value of the average annual rent reserved. vii. where the lease purports to be for a term exceeding one hundred years or in perpetuity. The same duty as a conveyance (No.23) for a consideration equal in the case of a lease granted solely for agricultural purposes to one-tenth and in any other case to one-sixth of the whole amount of rents which would be paid or delivered in respect of the first fifty years of the lease. viii. where the lease does not purport to be for any definite term; The same duty as conveyance (No.23) for a consideration equal to three times the amount of value of the average annual rent which would be paid or delivered for the first ten years if the first ten years if the lease continued so long. (b) where the lease is granted for a fine or premium, or for money advanced and where no rent is reserved; The same duty as a conveyance (No.23) for a consideration equal to the amount or value for such fine or premium or advance as set forth in the lease. (c) where the lease is granted for a fine or premium , or for money advanced in addition to rent reserved. The same duty as a conveyance (No.23) for a consideration equal to the amount or value of such fine or premium or advance as set forth in the lease, in addition to the duty which would have been payable such lease, if no fine or premium or advance had been paid or delivered; provided that, in any case when an agreement to lease is stamped with ad volorem stamp required for a lease, and a lease in pursuance of such agreement in subsequently executed the duty on such lease shall not exceed one rupee and fifty-five paise. Exemption Lease, executed in the case of a cultivator and for the purpose of cultivation (including a lease of trees for the production of food or drinking). Without payment or delivery of any fine or premium, when a definite term is expressed and such term does not exceed one year, or when the average annual rent reserved does not exceed one hundred rupees. In this exemption a lease for the purpose of cultivation shall include a lease of lands for cultivation together with a home stand or tank. Explanation.-When a lessee undertakes to pay any recurring charge, such a Government revenue landlord’s share of cesses, or the owner’s share of municipal rates or taxes, which is by law recoverable from the lessor, the amounts so agreed to be paid by lessee shall be deemed to be part of the rent.
Source: official text of The Indian Stamp Act, 1899 as published on India Code (PDF). All sections of the Indian Stamp Act, 1899.