The Karnataka Government on October 13, 2022 has issued the Karnataka Stamp (Third Amendment) Act, 2022 to further amend the Karnataka Stamp Act, 1957. This has come into force on October 13, 2022.
The following has been amended namely: -
• In the schedule in article 52 clause (d) which states “Transfer”, the proviso has been amended namely: -
“Provided that for the public religious or charitable trusts, the duty for such transfer shall be rupees one thousand.”
The following has been inserted after the proviso
“Explanation: For the purpose of this clause “Trust” means “a trust shall include any entity that has been registered under the provisions of section 12AA or 12AB of the Income Tax Act 1961.”
[Notification No. 518]
