The Government of Punjab on January 15, 2024, notified the Indian Stamp (Punjab Amendment) Act, 2023 further to amend the Indian Stamp Act, 1899, in its application to the State of Punjab.
The following has been stated: -
•In the Indian Stamp Act, 1899, in its application to the State of Punjab, in Schedule 1-A, -(i) for the existing entry 6, the following entry shall be substituted, namely: - 6. Agreement relating to Deposit of Title- Deeds, pawn or pledge, mortgage by way of deposit of Title Deed (Equitable Mortgage) and hypothecation.
•In entry 48, for item (f), the following item shall be substituted, "(f) When given to a person other than a family member, authorizing the attorney to sell any immovable property.
It shall come into force on January 15, 2024.
The detailed notification is given in the document attached below.
[Notification No. No. 2-Leg. /2024.]
